Morningstar Reviews in Chicago, IL | Glassdoor

Morningstar Chicago Reviews

Updated August 13, 2017
257 reviews

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Chicago, IL

257 Employee Reviews

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Pros
  • I love the fact that a work/life balance is always pushed and we are encouraged to take time as needed (in 131 reviews)

  • Casual work environment, generous benefits (in 73 reviews)

Cons
  • low pay rate and low efficiency (in 34 reviews)

  • Way too many people take advantage of "work/life balance" (in 12 reviews)

More Pros and Cons

  1. Helpful (5)

    "A solid place to work."

    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 3 years)

    Pros

    Great people, work life balance, lots of empowerment and responsibility. High degree of autonomy is given to employees who perform well. Continued professional education is encouraged and sponsored.

    Cons

    Extra effort will not be immediately recognized by increased compensation. As Morningstar's flexible work environment becomes more common in the industry, employees may no longer need to make the trade-off between a good workplace and middle-of-the-road compensation.


  2. Helpful (14)

    "Morningstar Development Program- Client Support"

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

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

    Pros

    Fun people, young environment, free bagels on Wednesdays and beer cart on Fridays. Management is typically friendly.

    Cons

    Little flexibility, lack of transparency in your initial role, mediocre pay. If you're not looking to be in career focused on research or data, I would not work here. There are little positions available in human resources or marketing. On company holidays, the rest of the office has it off but support still has to come in to work. You have to request every meeting, have to input codes to go to the bathroom, and are in the role from anywhere between 9-18 months. They'll tell you it is a two year program but in reality it is three years. Program leadership is not receptive to new here negative feedback, and instead of helping you find a solution, they'll tell you that your personal needs are not as important as the business need. People here at large are satisfied with being average instead of working hard to be better.

    Advice to Management

    You have some of the smartest, driven people that start in this company from top universities. You are utilizing your resources inefficiently by placing people on phones for a year. My suggestion is to cap the first rotation at 6 months and model it after similar financial companies, such as Aon-Hewitt. If you want the CEO out of the program, you need to invest in what your employees are passionate about. You will lose some of the best people from your program, because you are giving them false insight to the roles you are providing and are also not willing to challenge them to perform. Incentivize people who work hard.

  3. Helpful (1)

    "Solid values, consistent business"

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

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

    Pros

    Open atmosphere, sincere and committed management, excellent brand and reputation, good corporate ethics and values.

    Cons

    Could have more management discipline; too many redundancies in product development initiatives; duplication of efforts.

    Advice to Management

    Get more people involved in planning and direction. No one but a select few know the overall plan.


  4. Helpful (16)

    "Good company and products, poor management and compensation"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - MDP in Chicago, IL
    Current Employee - MDP in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    -well respected company
    -friendly and relaxed atmosphere
    -people often make friends with their colleagues
    -Lots of acquisitions and signs of growth
    -attracts talent from top schools

    Cons

    -misrepresents MDP program (actively dodges questions regarding the first role, which is almost always being in a call center. HR is emphatic that they are transparent with this but from the experience of every single MDP last summer this is not true and they were not told in the hiring process)
    -little care for "development" aspect. Most client service MDPs are not challenged after a few months and just sit idly by.
    -Placements are need based and the program does a very poor job of matching employees to their desired areas. Very little transparency with the rotational process
    -Low compensation. The MDP salary base has been the same for 8 years and although HR explains that we benchmark based off the financial technology sector, employees doubt this as most of our peers have much higher salaries and bonuses
    -bonus structure is pretty low and fixed thus incentive to go above and beyond is virtually non existent

    Advice to Management

    Pay more. Offer a competitive bonus scheme. Reshuffle HR to either staff more or replace with people who care about the program.

    Morningstar Response

    Apr 4, 2017 – Head of Talent Acquisition

    Thanks for your honest feedback on our Morningstar Development Program (MDP). Since MDP is our primary channel for recruiting top talent into Morningstar, we take all concerns and criticisms related... More


  5. Helpful (3)

    "awesome culture - one of the best i've experienced"

    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 a year)

    Pros

    Excellent culture; positive, supportive, and helpful. Every team member, for the most part, is mindful of the company's values and vision. There is equal value on hard work as well as work place flexibility. management is mindful of employee needs, and teammates look out for one another

    Cons

    long hours are expected by management, and not very generously compensated for it. larger teams can feel slightly disorganized or disjointed in communication, especially with overseas team

    Advice to Management

    continue to emphasize culture and the supportive environment. it is really the best thing i've experienced in my career, and it is what set morningstar apart from many, if not most, companies i've worked for or interacted with

    Morningstar Response

    Apr 4, 2017 – CHRO

    Thanks for your encouraging words and your five star review. I completely agree that our culture and our people contribute to a work environment that is supportive, values-based, hard-working, and... More


  6. Helpful (9)

    "OK - But not Amazing"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Software Engineer in Chicago, IL
    Former Employee - Senior Software Engineer in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Morningstar full-time (More than 10 years)

    Pros

    Good work life balance, good working environment,

    Cons

    No passion and poor innovate.
    low salary,
    used old tech.


  7. Helpful (15)

    "Company breaks Labor Laws"

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

    I worked at Morningstar full-time (More than 3 years)

    Pros

    Nice office. That's it. More cons than pros.

    Cons

    Low pay.
    Morningstar's pay is among the lowest and the raises are 1-2% a year. Management blames employees and claims it is because of performance, but then employees talk and discuss and it comes out that everyone got the same raise. So everyone had performance issues? Doesn't HR read these reviews?

    Dishonest HR
    Someone below talked about how Asian workers did not get promotions and HR replied that the rates are same. This is nonsense. I had several Asian employees in my team and they all were frustrated for the same reason. I was friendly with them so they confided to me that they could not switch groups easily but non-Asians just seemed to move from role to role each year. I began to observe this and I had reason to believe that this was true to a large extent. The template seemed to be that if a non-Asian had a role and left, Asians would not be considered for that role. If an Asian person left, then other Asians had a chance at that role.

    Breaking Labor Laws
    Here's a biggie. Some years ago, I applied to an position that was advertised. As I was an employee, I could see the HR person and emailed her directly. She replied saying that the position was not a real one and that it was posted for immigration purposes! She said this in an email! I was shocked that a company like Morningstar would break labor laws so blatantly. I did not blow the whistle, but I have that email with me. I hope President Trump cracks down on these illegal and unethical practices. I am sure HR will come out and deny it and quote some facts and figures. This happened to me so it is true.

    Advice to Management

    Pay people market rate. Clean out the politicians in the company.

    Morningstar Response

    Apr 5, 2017 – CHRO

    Ouch, these are some very serious allegations. While we believe there are inaccuracies and some missing context in the content of your post, I would very much like to understand your observations and... More

  8. Helpful (16)

    "Weak and Incompetent IT Leaders"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Software Engineer in Chicago, IL
    Current Employee - Senior Software Engineer in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    Good coffee machines in place

    Cons

    Senior IT leaderships used to be responsible and hardworking. They produced competitive products. But lT leadership has become weak and weaker recent years in Chicago and offshore offices. They try hard to be good politicians but showed no ability and intention to make Morningstar an ethical, healthy, innovative working environment. Hiring friends with no technical skills, meaningless technical town hall meeting to show off things not important, laid back managers with no technical skills, making overseas business trips as their personal vacations and hangovers, Weak leadership builds weak teams. The good old days are gone...

    Advice to Management

    hire people with strong leadership skills, reduces the number of laid back managers, we are building software many small startup can do but with horrible quality, cutting bad managers above market pay to compensate many of severely below market paid engineers..

    Morningstar Response

    Apr 1, 2017 – Chief Technology Officer

    Ow. Since you took the time to write this scathing review, I have to assume that you're not happy at Morningstar, that you feel no one in technology leadership will listen to you, and that you feel... More


  9. Helpful (1)

    "good"

    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
    Neutral Outlook
    Approves of CEO

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

    Pros

    nice culture, low stress, good entry gig

    Cons

    low stress, too many lateral moves

    Advice to Management

    Too much change lately


  10. Helpful (1)

    "HR Intern"

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

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

    Pros

    So much room for growth, very obvious care for clients, energetic and intellectually stimulating work environment

    Cons

    Can't think of any! Great place to work.


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