Lord Abbett & Co. Reviews | Glassdoor

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Lord Abbett & Co. Reviews

Updated January 20, 2018
113 reviews

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2.5
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Daria L. Foster
43 Ratings

113 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
  • Senior management understands that they must communicate more and making changes to address this (in 10 reviews)

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

More Pros and Cons

  1. "Regional Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Lord Abbett & Co. full-time

    Pros

    Best internal wholesaler training in the market. Lots of upward mobility. Clear career path.

    Cons

    Politics, make yourself the favorite early on.

    Advice to Management

    Keep salary consistent with that of other asset managers.


  2. Helpful (9)

    "Better Days Behind"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Jersey City, NJ
    Former Employee - Anonymous Employee 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

    Free gym membership, beautiful offices and great location.

    Cons

    Things have gone down hill since Bob Dow left the firm. Current management is in disarray. Mass layoffs of long time employees and culture change have contributed to a place that is unpleasant and everyone ifs fearful of losing their jobs.

    Advice to Management

    If you continue along this path things will continue to get worse.

  3. "Advisor Consultant"

    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
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    - they like to hire within the firm to other departments from sales desk- opp for growth
    - drive and determination will get you promoted.
    -Offer great networking opportunities with partners since headquarters and main location is in JC.
    - internal sales- fun culture
    -really making efforts in diversity (especially for women)
    -Female CEO
    -healthcare and retirement venefits are amazing.
    - gym in building
    - 20 days vacation, 5 personal days.

    Cons

    - can be very political
    - on the lower end of compensation versus competitors in terms of base salary.
    -frat boy culture, but this is (slowly) changing

    Advice to Management

    - more diversity efforts for people of different races. Very white culture in Lord Abbett


  4. Helpful (7)

    "Pretty Mediocre"

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

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

    Pros

    1) Working here is better than being unemployed, or working in some food services industry. 2) Many days off. You get 5 weeks off, which is pretty darn good actually. 3) Working at this company is great, if you are a working mom and need an easy paycheck with minimal stress. An ideal job for those looking to coast while putting in minimal amount of effort required. During my time at this company, I have seen many, many people that are very mediocre in terms of talent and motivation. Some people I knew at the company were busy doing on-line shopping, booking trips for vacations, or chatting with random dudes everywhere around the office. Much to my surprise, these people managed not to get fired for years.

    Cons

    1) Mediocre coworkers in terms of talent and brain power. During my stint at this company, I've met many people who would struggle with 7th grade level algebra, including some directors and partner level employees. Just look at the firm's leadership bio. Half the partners at this firm hail from sales background that haven't spent a day of their careers in an investment division or in an analytical capacity. Yes, a bunch of smooth talking ex- sales dudes with fancy suits, who used to sell funds to neighborhood mom and pop shop financial advisors. Most of the partners at this company come from 3rd tier academic institutions, rather than the Harvards, Stanfords, or Princetons of the world. I sometimes wonder if the directors / partners at this firm would be able to get a job at a company like Goldman, Morgan Stanley, Citadel, AQR, Google, or some other high end consulting shops like McKinsey or Bain in a front office, analytical position. I suspect that many of them won't even get a first round interview at the elite finance / tech / consulting companies, which tend to favor people with strong intellectual horsepower and high academic accomplishments. 2) Pay raises / promotions / career growth here isn't good, unless you are in a sales position and have a bunch of support from the senior management vouching for your success. I've known many people here that were stuck with the same title, same work, same responsibility, and supposedly same pay for YEARS, with no prospect of growth. 3) Boring work and lots of repetitive tasks. I do not want to labor on this point too much, because let's face it - unless you work at a high end elite finance / tech / consulting company in a front office position, you won't be working on cutting edge projects or tasks that are interesting / challenging most likely. So, the fact that you'd be working on boring / repetitive tasks at this company on daily basis ain't exactly a unique negative, compared to working at other mediocre positions / jobs at middling institutions... But the point stands that the majority of work you'd do at this company ain't really interesting or challenging. Many times during my stint at this company, I felt like I was nothing more than a glorified soccer mom, making sure that things are running smoothly, setting up a bunch of pointless meetings, and checking that others are actually working on their stuff and not slacking off. After doing this job for a couple of years, I felt that actually using my brain to do some sort of analysis tended to be frowned upon. 4) Almost no happy hours / office events. Compared to my last job, there is significantly less volume of happy hours / socializing amongst coworkers. Boring office culture. 5) Company location. This is a finance company that is located in Jersey City, not in Manhattan... do I need to say more?


  5. "technology"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Software Engineer
    Current Employee - Software Engineer

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

    Pros

    Good healthcare and retirement benefits
    Good work culture

    Cons

    lack of flexibility
    slow in catching up industry standards
    less opportunity for growth


  6. Helpful (1)

    "Advisor Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Approves of CEO

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

    Pros

    Compensation, A lot of days off, Gym in building, Great Training Program, Fun Work Environment, High paced, Opportunities within the firm

    Cons

    Cold Calls, Type A personalities, Misdirection, repetitive


  7. "Quick to Hire...But quick to LET go."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Positive Outlook
    Approves of CEO

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

    Pros

    1)They are improving their Technology team.
    2)Have to wait 18 months before you can move to a different department-- which could be good if you are looking for something new.

    Cons

    -They hire quickly hence they LET go of people quickly.
    -Management is not transparent and are very quiet about moves.
    -People don't get promoted as fast. My team had people in the same role for years. 2 were analysts for 4 years and had yet to be promoted to senior analyst.

    Advice to Management

    -Vet your applicants better.
    -Promote qualified people.
    -Improve your Tech team and have analyst use more tools.

  8. "Advisor consultant"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    The office was a great environment. Everyone acted extremely professional but made it a comfortable and enjoyable place to work

    Cons

    The location of the office isn’t necessarily great because it is located in Jersey City and outside the heart of NYC.


  9. Helpful (26)

    "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


  10. 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.


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