Lord Abbett & Co. Reviews

Updated May 29, 2020

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2.4
28%
Recommend to a Friend
60%
Approve of CEO
Lord Abbett & Co. President and CEO Douglas B. Sieg (no image)
Douglas B. Sieg
23 Ratings
Pros
  • "There is clearly a strong company culture, great work life balance and the improvements to the cafe are outstanding(in 18 reviews)

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

Cons
  • "Lack of transparency from upper management(in 11 reviews)

  • "This hides visibility of highly talented technical people efforts to senior management(in 11 reviews)

More Pros and Cons
  1. Featured Review
    Helpful (1)

    "Great Place to Work"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Jersey City, NJ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Lord Abbett & Co. full-time for more than 3 years

    Pros

    The company offers great benefits. There is clearly a strong company culture, great work life balance and the improvements to the cafe are outstanding. Over the past year, there has been a strong commitment to community service. I am proud to work at an organization that understands the importance of giving back to those in need.

    Cons

    I honestly can think of any.

    Continue reading
    Lord Abbett & Co.2020-01-23
  2. "Great place to work!"

    5.0
    Current Employee - Analyst 
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Friendly management, good flexibility, good pay

    Cons

    High employee turnover, office environment can be political

    Lord Abbett & Co.2020-03-10
  3. "ok"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Financial Advisor 
    Doesn't Recommend

    I worked at Lord Abbett & Co. full-time for more than a year

    Pros

    there is Unlimited pto to employees

    Cons

    micromanagement is in full effect.

    Lord Abbett & Co.2020-05-30
  4. Helpful (3)

    "Management micromanagement out of control"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Investments 
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Lord Abbett & Co. full-time

    Pros

    Good emphasis on mental health, smart colleagues

    Cons

    Management was micromanaging everyone to death. It became easier to do nothing, at least then you wouldn't get nitpicked a million different ways.

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    Lord Abbett & Co.2020-05-13

    Lord Abbett & Co. Response

    May 15, 2020Lord Abbett Team

    Thank you for taking the time to share your perspective. Our people are our greatest strength, and we value input from current and former members of our team. Intellectual curiosity and a commitment to health and wellness are two hallmarks of our culture – we’re glad these have made a positive impression on your experience at Lord Abbett. Independent thinking drives our success and is underscored in our firm values. To encourage independent thinking, we prompt leaders to empower individuals on their teams to make decisions while maintaining a regular, two-way dialogue. And through leadership training, we stress management best practices that focus on empowerment, empathy, and inclusion. If there’s anything else you’d like to share with us, please reach out: humancapitalmanagement@lordabbett.com.

  5. Helpful (4)

    "Overall direction positive for firm, Investment Leadership is ruining that"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Investment Analyst in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Firm has done a lot in the last 3 years to improve brand and work/life balance. Culture has improved to keep up with the times.

    Cons

    Leadership in Investments has handled recent crisis poorly. They use micromanagement as a crutch and has really hurt the overall investment process. This has to be fixed or more people will leave.

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    Lord Abbett & Co.2020-05-01

    Lord Abbett & Co. Response

    May 5, 2020Lord Abbett Team

    Thank you for taking the time to share your perspective. Our people are our greatest strength, and we value your input. We’re pleased that your experience with our principles-based culture—which fosters greater flexibility and agility—has been favorable. Our leaders and their teams have successfully implemented remote work at scale to keep our people safe while maintaining continuity for our clients in the current environment. Leaders and outside experts alike have shared best practices on dimensions of leading through crisis including empathy, inclusion, and empowerment. We continue to encourage leaders to communicate regularly, while managing their teams in a manner that empowers every individual to make decisions. If you have additional feedback about how your leader is managing through the crisis, we strongly encourage you to engage with them in a two-way dialogue, or to please reach out to humancapitalmanagement@lordabbett.com for further support.

  6. Helpful (8)

    "PSA to anyone considering the Advisor Consultant position"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Advisor Consultant 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Lord Abbett & Co. full-time for more than 3 years

    Pros

    Salary- base 60k most make 80k a year (first year out of college) Office location- nice view Can get certified- Series 7 and Series 66 but this is true anywhere you go for financial services as an internal wholesaler or financial advisor That is truly it for the pros (as you can see from other posts there are a lot of cons)

    Cons

    1. Management- Managers can really make or break your work experience. The managers at Lord Abbett make the experience almost unbearable. Most are looking out for themselves to try to get promoted, they don’t really want to contribute to your personal growth, and do not want to get to know you on any personal level. Overall, they are really are not personable or have any empathy for employees, you are simply a widget in their eyes. 2. Training program- the training program lasts for about 2-3 months while you learn lord abbett funds and study for the series 7 and series 66. Most people were completely miserable during these 3 months. They treat study time as a privilege so you have to put in about 80-100 hours a week from work to studying at home. There is also mock calls and a couple presentations in these 3 months to prepare you for the phones. 3. Culture- the culture is very rigid. The hours are a strict 7:30am to 6pm- frowned upon to eat away from your desk or get coffee, very strict dress code (told we weren’t allowed to wear certain colors), very similar people- many frat boys and very little diversity when it comes to race. They are making strides to hire more women but it is very forced. The people who are awarded with promotions are yes men. They are very strict with metrics- you are expected to make 70-90 calls a day and speak to 12 advisors a day and now recently use a screen sharing tool to fit into a point system. If you fall behind on calls in the morning your managers will be on you to ramp it up regardless of what you may have been working on that morning. If you do not fit their personality mold or ridiculous metrics you’re fired. People are leaving the sales department at an alarming rate and it’s a result from management. My advice is to really really consider other opportunities where you will have more growth potential and a much healthier work environment. There are much better places that lord abbett and your happiness should be more important than a salary.

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    Lord Abbett & Co.2020-05-16

    Lord Abbett & Co. Response

    May 20, 2020Lord Abbett Team

    Thank you for taking the time to share your perspective. Our people are our greatest strength, and we value your input. We take pride in our 2018 shift to a principles-based culture, which inspires our team through transparency and empowerment, and provides benefits such as Flexible Time Off, the choice to “Dress for Your Day,” Summer Fridays, and subsidized health care. The evolution of our culture has been informed by feedback we receive from our annual Global People Survey. Our Advisor Consultant Program serves as a launchpad from which many high-performing team members journey on to successful careers throughout the firm in areas such as portfolio management, trading, marketing, and in our international business. We continue to focus on Diversity & Inclusion across the organization–it’s worth noting that the most recent Advisor Consultant starting class comprised 50% women. The Advisor Consultant role is vital to building deep client relationships and bringing to life one of our culture principles, “Dream big, work hard, have fun!” As a firm known throughout the industry for the caliber of our client service professionals, our leaders have high expectations of their teams and are prompted to lead with empathy, to empower independent decision-making, and to set people up for success with achievable sales goals that challenge and engage with purpose. As with sales professionals in any industry, data is used to assess team and individual performance. If you have additional feedback to share with your leader, we strongly encourage you to engage with them in a two-way dialogue, or to reach out to humancapitalmanagement@lordabbett.com for further support.

  7. Helpful (9)

    "Brutal Environment"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 

    I worked at Lord Abbett & Co. full-time for more than a year

    Pros

    Decent pay and decent time off

    Cons

    Horrible culture, they will use you and spit you out all while not knowing your name.

    Lord Abbett & Co.2020-03-27

    Lord Abbett & Co. Response

    April 21, 2020Lord Abbett Team

    Thank you for taking the time to express your opinion. As a firm that views our people as our greatest strength, we value input from current and former members of our team. At Lord Abbett, we pride ourselves on cultivating an inclusive culture. 80% of our people believe the firm treats people with respect and dignity, as evidenced in our 2020 Global People Survey. We provide each person with the flexibility and tools to succeed, and have programs to recognize and reward top performers who exhibit our firm’s Values. If there’s anything else you’d like to share with us, please reach out: humancapitalmanagement@lordabbett.com.

  8. Helpful (10)

    "by far the lowest rated Asset Manager should tell you something"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Distribution in Jersey City, NJ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Lord Abbett & Co. full-time for more than 3 years

    Pros

    Good pay and benefits

    Cons

    Incredibly insular culture created by decades of poor management by the partnership. The real loyalty only belongs to the profits of the partnership. Yes there is a facade of change to this, but in practice nothing is different. Too many examples of the resistance to change from the black shoe, stripped tie rules based culture that matches the decor to list here. Not a place to take your career

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    Lord Abbett & Co.2020-04-03

    Lord Abbett & Co. Response

    April 21, 2020Lord Abbett Team

    Thank you for taking the time to express your opinion. As a firm that views our people as our greatest strength, we value input from current and former members of our team. Our 2020 Global People Survey results indicate 81% favorable engagement across the firm, one of the highest scores in the industry according to our survey administrator, a global leader in people analytics. The survey also identified areas where we can improve. Informed by these responses from our people, we’ll continue to enhance our culture as a firm that is inclusive, purpose-driven, principles-led, and performance-oriented. If there’s anything else you’d like to share with us, please reach out:humancapitalmanagement@lordabbett.com.

  9. Helpful (7)

    "Made money"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Wholesaler 
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Lord Abbett & Co. full-time for more than 10 years

    Pros

    Pay is good for the industru

    Cons

    Management is toxic And does not care about employees

    Lord Abbett & Co.2020-01-05
  10. Helpful (10)

    "Wholesalers Warning!"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Regional Sales Manager 
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Lord Abbett & Co. full-time for more than 10 years

    Pros

    There are a few of the good guys left after heavy turnover the past 3 years.

    Cons

    Frat club. They preach diversity and inclusion, however their sales force is 90% white males. If you have a smaller territory you are still competing with the bigger territories and sales are expected to be the same. It can be challenging considering 80% of business is coming in Cash alternative short term bond funds. Compensation is competitive only if you are in top half of sales force otherwise no deferred comp for you. Divisional Sales Managers are in the field as WS so their is no transparency, they don't travel or support you in your territory at all. They look at you 100% by metrics and that is it. Not on ability or regional challenges. National Sales Managers are order takers from Managing Partner and have zero original thought. The firm has a tremendous amount of risk. Although growing they are doing on the back bone of two funds that have not returned their div yield in the past 5 yrs. Short Duration and Ultra Short

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    Lord Abbett & Co.2020-01-31
Found 151 reviews