Morningstar Reviews in Chicago, IL | Glassdoor

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Morningstar Chicago Reviews

Updated January 5, 2018
283 reviews

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Chicago, IL

3.6
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Morningstar CEO Kunal Kapoor
Kunal Kapoor
47 Ratings

283 Employee Reviews

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Pros
  • Treated like an adult for issues like work/life balance (in 147 reviews)

  • Not to mention the open and wonderful work environment Morningstar provides (in 75 reviews)

Cons
  • low pay rate and low efficiency (in 37 reviews)

  • Way too many people take advantage of "work/life balance" (in 14 reviews)

More Pros and Cons

  1. Helpful (39)

    "Former Employees"

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

    I have been working at Morningstar full-time (More than 8 years)

    Pros

    Morningstar has an open and permissive culture and a flexible work life balance. The people are kind, analytical and thoughtful.

    Cons

    Over the years, as Morningstar grew, that permissiveness has allowed some in the firm to take advantage of the culture and flexibility.

    The new CEO has addressed this problem openly and empowered leaders to challenge those who take advantage of the flexibility, something many of us appreciate and feel is a long time coming. This has been a good overall but has also generated some strong feelings from disgruntled former and current employees in the halls and on Glassdoor.

    Advice to Management

    It is openly discussed in the hallways of one former employee from the marketing group who has written multiple revenge posts on Glassdoor and that others are doing the same. Consider reporting this to Glassdoor, these rants are hurting our reputation and our recruiting.

    If you are considering Morningstar as a place to work, know that the true character of Morningstar is not represented by the impolite behavior of the angry employees writing on this sight.


  2. Helpful (34)

    "Investors first"

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

    I have been working at Morningstar full-time (More than 5 years)

    Pros

    Lots of marketing technologies and tools
    The culture to put investor interests first
    The behavioral science work
    Partnership with sales
    401K

    Cons

    Growing pains from approaching $1B size
    Booking a conference room

    Advice to Management

    Be more specific about how you are addressing 'thorny issues'

  3. Helpful (35)

    "Loving my job! Lots of opportunities!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Software Engineer in Chicago, IL
    Current Employee - Software Engineer in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Morningstar full-time (Less than a year)

    Pros

    Generous time off policy - no bats an eye if you take time off as long as you and your team delivers. Of course the expectation is that its all hands on deck during crunch time, but once things settle down, you are actively encouraged to take a break.

    Lots of freedom to work from home too. This has allowed our team to deal with personal/family/health issues while still remaining productive.

    Great people to work with. I think Morningstar puts a heavy emphasis on hiring for cultural fit, especially ability to work in teams and collaborate. I enjoy coming to work because of the people I work with.

    Cons

    The cons listed below I see more as opportunities; I list them though since anyone looking to work at Morningstar should be aware of these things that not everyone appreciates or wants in an employer:

    Morningstar is changing the way it's whole technology platform is structured, and this naturally leads to a lot of the pains one might imagine from a company its size embarking on such a mission. It's caught in two worlds: trying to please it's existing customer base while maintaining (and even expanding) certain systems, and, experimenting with and leading the charge into new technologies and services. It is headed in the right direction, and the leadership is doing a great job at communicating the vision. Still, you need to be able to function within the tension created by the conflict of these two very different worlds.

    Morningstar's core technology platform is developed by teams spread across the world, and this requires either holding meetings outside of normal work hours or being happy with a 24hr question-response cycle, if your team is dependent on another team's work.


  4. Helpful (33)

    "Awesome company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate Engineer in Chicago, IL
    Current Employee - Associate Engineer in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Morningstar full-time (More than a year)

    Pros

    Great people are willingly to listen and help!

    Cons

    Not much that I can think of

    Advice to Management

    Thank you for all the efforts! :)


  5. Helpful (31)

    "Engineer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Engineer in Chicago, IL
    Current Employee - Engineer in Chicago, IL
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Morningstar full-time (Less than a year)

    Pros

    Great firm to work at.

    Cons

    Nothing complain. It is a good firm.


  6. Helpful (35)

    "A worthwhile mission and great people"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Editorial in Chicago, IL
    Current Employee - Editorial in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Morningstar full-time (More than 5 years)

    Pros

    •Great team of people
    •A mission I can believe in (helping individual investors)
    •Great flexibility and work/life balance
    •Excellent facilities
    •Good compensation
    •Lots of freedom to accomplish work

    Cons

    •There is much freedom - people who don't thrive without a rigid structure may have trouble adjusting.

    Advice to Management

    •Keep sticking to our core values, especially Investors First and Great People - continued success will come easily.

    Morningstar Response

    Oct 5, 2017 – CEO

    Thanks for your kind words and the public recognition of our many workplace assets. I also noted your comment “people who don't thrive without a rigid structure may have trouble adjusting.” A... More


  7. Helpful (1)

    "Morningstar"

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

    I have been working at Morningstar full-time (More than 10 years)

    Pros

    Flexibility, People mostly easy to work with

    Cons

    Salaries not the highest, bonus highly variable from year-to-year

  8. Helpful (6)

    "Morningstar is doing good for society"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Software Engineer in Chicago, IL
    Current Employee - Software Engineer in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Morningstar full-time (More than a year)

    Pros

    Morningstar has done a lot to help grow the community.
    - Donate more than 100k school kits to kids annually.
    - Gather volunteers from the company to teach kids financial literacy.
    - Match employee donations to non-profit organizations, up to $500 annually.

    Morningstar has provided a lot of perks for employees, which help growing the community at the same time.
    - Wellness credits, $300 per year.
    - Free onsite body check annually.
    - Educational stipends $1000.
    - Thoughtful Thursdays to educate employees in personal finance, investments, ETFs, retirement etc.
    - Tons of weekly panels on behavioral economics, HSA, products overview, etc.

    Working Environment
    - No micro-management as I am aware of, maybe it may happen to some teams.
    - Flexible working hours.
    - Provide enough support for you to learn.

    Cons

    1. Morningstar is not good at marketing. The listed Pros above, Morningstar hasn't tried to brag about it on its social media.
    2. A lot of employees keep complaining the below-average paid, but I want to ask, how much has him/her contributed to the company? Many employees send out work from home emails because they need to take care of their children, home maintenance, etc. Once they are out of office, their products seem to be none of their business. They don't care about products at all, they just care about how much they get paid.
    3. Some MDPs, they need to do customer services on their first year. However, they are getting paid with $50k+, with guarantee 3% compensation increased every 6 months. Even in New York or San Francisco, new grads who are doing customer services, they may just get paid with $35k ~ $40k without any benefits.

    Advice to Management

    - Show off what Morningstar has done for society to increase branding.
    - Move faster.
    - Pick stronger managers. Managers need to reward those who are out-performing; otherwise, those good employees are being discourage.


  9. Helpful (30)

    "Star Rating Decline for the Marketing Team"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Marketing in Chicago, IL
    Current Employee - Marketing in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Morningstar full-time (More than 3 years)

    Pros

    Morningstar has great benefits, great people, and leadership that is very approachable. Want to give back to the community? There are a ton of ways to get involved during the workday and management encourages that you do so. There are a lot of wonderful things about working here: the location, 401 (k), and mentorship from executives. Morningstar is one of those places that treats its employees like family and wants to keep people for the long-term.

    Cons

    Compensation is low, which is not an industry secret. Yes, there are trade-offs to unlimited vacation and flexible work-life balance. However, most employees don't mind the low comp, what they mind, is the culture of retaining employees to the point of ridiculousness.

    Go anywhere in Morningstar and there is someone that has been around for a long time, frequently makes mistakes, pushes work off onto others, and is promoted for their tenure over people with the skill set needed for the role. Many moves happen here, as HR is wise enough not to promote these people on their current teams, but move them elsewhere to a team that is unaware of the issues at hand.

    There is also no rhyme or reason for the promotion of many employees, at least within the Marketing department. We've lost in the double-digits of people since January of last year and none of these people have been replaced. Instead we are getting tons of new Marketing execs, but no one to take on the workload of those departing. There is no middle-management in Marketing, and while some teams have been operating on a skeleton crew for over a year at this point with no backfill, budget, or recognition for their work, the Inbound Marketing Team, who has lost no one, and has absorbed employees from other teams, and promoted 5 people in a span of less than a month. Few of these people have been in the department for a fraction of the tenure of other people with their titles, and one promotion was given to an individual that frequently makes mistakes that negatively impact our ROI and consumer experience. Additionally, these roles were not listed on our company workday site for others to apply to.

    The reasoning behind these promotions? Many of these people came over from HelloWallet, and CMO, Rob Pinkerton, plays favorites. Things like this are behind the departures of many long-term Morningstar employees, who are sick of being told how to do their job by someone with no experience in Marketing, that frequently calls out the importance of millenials to market to (we are a financial firm whose target audience is NOT a millenial), and that won't address the feedback he is getting on Glassdoor with his team.

    This is a great place to work, just not in Marketing, unless you are on the Inbound Team.

    Advice to Management

    We aren't dumb, we read the reviews, and we know who has written them. They are not all from one person, they are from the nearly 20 people that have left since January. Sure, some of them could have been nicer, calling Rob a "snake-oil salesman" was extreme and untrue, but you need to address this with your employees. The department is falling apart and management needs to step-in. Ask the remaining people why they are still there and why they would leave/are looking, because people are unhappy, and anyone that isn't on Inbound, that has been in the department for over a year will tell you that they are at wits end.


  10. Helpful (8)

    "Solid workplace"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - MDP in Chicago, IL
    Current Employee - MDP in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Morningstar full-time (More than a year)

    Pros

    - Educational stipend is a generous way for employees to grow (if they want it)
    - You can create your own success and senior employees make themselves accessible
    - The culture is welcoming to people of all backgrounds/degrees

    Cons

    - Things can take a while to get done
    - Sometimes entry level employees feel lost or disengaged unless they're actively seeking help/advice


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