Lord Abbett & Co. Reviews in Jersey City, NJ | Glassdoor

Lord Abbett & Co. Jersey City Reviews

Updated August 7, 2017
64 reviews

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Jersey City, NJ

2.3
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Daria L. Foster
22 Ratings

64 Employee Reviews

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Pros
  • The benefits are slowly improving and the work/life balance is tolerable based on the amount they are paying you (in 14 reviews)

  • Good cafeteria, gym on site is very good (in 9 reviews)

Cons
  • There isn't any room for growth just horizontal movement unless you are in really good with upper management (in 10 reviews)

  • Management, work environment, dishonest supervisors (in 6 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (8)

    "Excellent Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Analyst in Jersey City, NJ
    Current Employee - Investment Analyst in Jersey City, NJ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Lord Abbett & Co. full-time (Less than a year)

    Pros

    The Sales and Investment professionals are world-class. The private partnership allows them to be generous with benefits and vacation.

    Cons

    No real cons, obviously having bigger funds would help get more management access and hedge funds pay more, but these are relative cons not absolute cons.

    Advice to Management

    More transparency would always improve morale.


  2. Helpful (2)

    "Good place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Jersey City, NJ
    Current Employee - Anonymous Employee in Jersey City, NJ
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Lord Abbett & Co. full-time (More than 10 years)

    Pros

    Competitive compensation, nice views of Manhattan, on site fitness center, nice vacation / time off policy

    Cons

    Politics, politics, politics. All depends on who you know...

  3. Helpful (11)

    "Company has changed"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - IT Engineer in Jersey City, NJ
    Former Employee - IT Engineer in Jersey City, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Lord Abbett & Co. full-time (More than 10 years)

    Pros

    Nice physical work environment. Good cafe. Good benefits.

    Cons

    No loyalty or job security. Sadly what was once a very nice place to work has turned 180 degrees. Its all different now. Morale at its lowest point.

    Advice to Management

    Keep in mind your biggest asset is your employees. Take care of the ones that have been loyal and have taken care of you. Turnover is a huge expense.


  4. Helpful (22)

    "amazing potential, horrible execution"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Advisor Consultant in Jersey City, NJ
    Current Employee - Advisor Consultant in Jersey City, NJ
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Lord Abbett & Co. full-time (More than a year)

    Pros

    Super dedicated, hard working, driven staff that knows how to have fun once in a blue moon. The pay is decent and the hours are fairly stable. The benefits are slowly improving and the work/life balance is tolerable based on the amount they are paying you.

    Cons

    Management is an absolute joke, they only want to hire kids right out of college who's parents are financial advisors so they send the firm more business. Its a cult of judgmental, over-paid, Jersey/PA/Long Island snobs. They only promote the total suck ups, no room for individuality or outside the box thinking. IF YOU WANT TO WORK FOR A COMPANY THAT CARES ABOUT PEOPLE, LOOK ELSEWHERE

    Advice to Management

    From the top down, this firm is led by 'yes men/women'. Starting w Daria Foster, who holds company meetings and info sessions that are a total waste of time. She wants everyone to drink the kool-aid yet has no ability to actually lead (still not even sure how she got the job). She talks at you instead of to you, bores everyone to death, and fosters an environment of stuck-up, over-priveledged white people too proud to ever look or think outside the box. The firm has DEEP pockets and does some very shady things, almost everyone in the sales dept is on drugs, and not a single person I met in over 2years is actually happy working here. IF YOU WANT TO LOVE WHAT YOU DO, DONT WORK FOR LORD ABBETT, ITS THAT SIMPLE


  5. Helpful (18)

    "So many better places to work"

    StarStarStarStarStar
    • Culture & Values
    • Senior Management
    Current Employee - Anonymous Employee in Jersey City, NJ
    Current Employee - Anonymous Employee in Jersey City, NJ
    Doesn't Recommend

    I have been working at Lord Abbett & Co. full-time

    Pros

    Old school offices that can be attractive looking. Onsite gym. Some nice folks in technology including some of the managers.

    Cons

    Bad upper management. It's like working in the novel 1984. Every meeting needs to be monitored. People cc others on email chains that were directed to one person. Etc. HR too involved in hiring decisions (and this HR team doesn't know what they're doing). Hard to attract employees when everything has to be run by someone who doesn't know what they're doing and only goal seems to be to block things.

    Advice to Management

    Bring in new management in the corporate areas HR etc from other companies that can share the successful culture of other firms


  6. Helpful (15)

    "Poor culture + poor compensation"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Data Analyst in Jersey City, NJ
    Former Employee - Data Analyst in Jersey City, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Lord Abbett & Co. full-time (More than a year)

    Pros

    Good reputable name in the market.

    Cons

    Poor company culture that ignores lower levels of staff and that leads to low team and individual morale. Very little social activities, management are very poor at providing feedback and at encouraging personal development

    Advice to Management

    Get rid of some middle management. Stop underpaying staff


  7. Helpful (22)

    "Was a good organization"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Manager in Jersey City, NJ
    Former Employee - Manager in Jersey City, NJ
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Lord Abbett & Co. full-time (More than 10 years)

    Pros

    Good benefits (compared with most of the companies), flat management structure, nice to spend time in gym, easy commuting.

    Cons

    One in tenth employee is a partner. It is a nice structure to distribute responsibilities but in this organization, even a small decision has to trickle down from top three partners. Due to this, most of the initial meetings will have no outcome. Each and every partner will have their own small world and follow instructions.

    If you have a good connection with your reporting partner, you may get an opportunity to ask a question in annual meeting or holiday party. That question will be given to you and asked to follow a sequence. At that time whole company knows your name.

    It’s a good place to work as long as you are ready to say “yes” to your manager because no one wants your opinion. You will have a job until your manager wants to utilize your skills after that he creates a situation to send you out. Your reporting, supporting partners will close their ears and eyes at that movement. There is no meaning for loyalty in this organization.

    Advice to Management

    Management should engage third party assessments without involving any of internal partners.

  8. Helpful (24)

    "Advisor Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Advisor Consultant in Jersey City, NJ
    Former Employee - Advisor Consultant in Jersey City, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Lord Abbett & Co. full-time (More than a year)

    Pros

    -Good exposure to credit team comments
    -Gym in building (small)
    -Cafeteria in building( eh)

    Cons

    Many. In fact, too many.

    You are not educated, you are a trained monkey. You are always being watched. The company culture is that of an all boys school in the 1800s. For a first job out of college, it's not bad, as it will help you get familiarized with the markets. However, DO NOT let this company's culture make you think that this is what corporate life is like. IT IS NOT. Many other firms are out there with a much better work environment.

    Most, if not all of management was organically grown. They've been with the same company since graduating college. Many one-minded, one-sided individuals in management.

    Growth in the firm is not based on your ability to surpass goals, but on who your father is. It is a boys club. If you are not a "fit", you are an outcast.

    In conferences and meetings, all questions are pre-selected. Answers have already been prepared ( extremely obvious). You're not allowed to ask smart questions that can puzzle the speaker.

    Advice to Management

    Hire more employees (for management positions) from other firms. It will help with your perspective.

    Stop playing "big brother". Not only is it discouraging, but rather annoying.

    Be more genuine in conference meetings. Pre-selected questions is not acceptable for a CEO. You should know your firm enough to be able to answer any question the audience has. If not, be genuine enough to admit it.

    Get in to the ETF game. Seriously.


  9. Helpful (10)

    "Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Jersey City, NJ
    Current Employee - Anonymous Employee in Jersey City, NJ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Lord Abbett & Co. (Less than a year)

    Pros

    Nice cafeteria and office views. Lots of ideas are based on broad consensus.

    Cons

    Strategies changing too rapidly for the tight culture to adapt with them.


  10. Helpful (9)

    "Technology"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Technology Manager in Jersey City, NJ
    Current Employee - Technology Manager in Jersey City, NJ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Lord Abbett & Co. full-time (More than 5 years)

    Pros

    small company but once they decide to make a decision (which they can do very quickly), they make it happen also very quickly. Access to cutting edge technology. Pay is definitely decent as long as you know going in that they don't give raises. With that said, as long as you know that, you must negotiate a good base pay. Bonuses so far seem nice. Since the compound the bonuses, it'll eventually pan out for the "old timers".

    Cons

    lower level managers seem to be afraid to make decisions on their own. ALWAYS seeking upper level management approval first. If they have to do that, then what's their purpose? Everybody is always cc'ing everyone else on emails. lots of CYA.

    Advice to Management

    allow your lover level managers to make a decision on their own and if it doesn't work (depending on the severity of the decision) don't be like the Red Queen with the "off with their head" routine.


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