Morningstar Reviews in Chicago, IL | Glassdoor

Morningstar Chicago Reviews

Updated August 13, 2017
257 reviews

Filter

Filter

Chicago, IL Area

257 Employee Reviews

Sort: PopularRatingDate

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 (3)

    "Great culture and people"

    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
    Neutral Outlook
    Approves of CEO

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

    Pros

    Inspiring mission, bright energetic and friendly people, comfortable open work environment, constantly trying to improve, good benefits, decent pay

    Cons

    Needs to hone it's focus and drive more intensity from the team. Maybe a little too comfortable.

    Advice to Management

    Turn up the heat. Clarify the business focus and help eliminate distractions. Inspire the team with crisp direction and action.


  2. Helpful (1)

    "Good work life balance"

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

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

    Pros

    Best product company in financial research sector.goog work life balance

    Cons

    Poor management , no onsite opportunity

    Advice to Management

    Nothing as such

  3. Helpful (2)

    "Best place I've worked"

    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

    Morningstar hires smart, creative people across the company, making it a delight to come to work every day. It's also a very mission driven company with the entire company working towards the same mission, regardless of the area of the business you work in.

    Cons

    Like any company with as many lines of business as Morningstar, it can sometimes feel like priorities aren't perfectly clear. Related, while the mission is clear, it isn't always clear how the day-to-day lines up with the 10 year strategy.

    Advice to Management

    Find better ways to connect the strategy to the day-to-day work, and be better about saying no to projects.


  4. Helpful (1)

    "Client Solutions Consultant"

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

    Pros

    my team is enthusiastic about helping the client, and is smart and wise. I enjoy working with my colleague and managers. As a remote worker, my bosses provide support where needed, yet do not hassle or micro-manage. One is expected and trusted to work hard. We value and respect our employees' competency. I find this a rare, and valuable trait of Morningstar's culture.

    Cons

    the knowledge level of the team may vary based on the backgrounds of those who join the team. However, this is not unique to Morningstar, and we have a culture which values collaboration, so colleagues can get up and running quickly, regardless of background.


  5. Helpful (1)

    "Editor"

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

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

    Pros

    Morningstar is a great place to work. People are diverse, talented, engaged, and there are many areas over which you can grow your career. I believe leaders care as much about employees as they do about shareholders, and attempt to keep those interests in balance. Management is supportive--flexible work arrangements, educational support and funding, and more.

    Cons

    Pay isn't great for the investment management industry, but it's not so far off that other benefits don't make up for this.

    Advice to Management

    Make a greater push to build brand and general financial awareness among millennials and younger people. Our independent and principled approach should be a natural hook.

    Morningstar Response

    May 31, 2017 – CHRO

    Thanks for taking the time to share your thoughts and ideas. In particular, I appreciate your comment about our leaders “caring” for employees as much as shareholders. I wholeheartedly agree with... More


  6. Helpful (1)

    "Great Place to Work"

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

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

    Pros

    Working with thoughtful, intelligent, hard working, nice people

    Cons

    None that I can think of

    Advice to Management

    Keep up the positive vibe


  7. Helpful (1)

    "Senior Product Manager"

    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

    -Talented group of co-workers who enjoy thinking strategically about how to solve problems and help investors make better decisions
    -Great opportunity for those who work hard and go above and beyond

    Cons

    -Change has been a constant in how the company is organized/led over the past several years

  8. Helpful (2)

    "Good work/life balance, great people, poor pay"

    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
    Neutral Outlook
    Approves of CEO

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

    Pros

    Work/life balance tends to be really good here, most people get to the office by 9ish and seem to leave by 4:30/5.
    Flexible vacation policy is a plus, and you can usually work from home
    Employees receive 6 weeks sabbatical after 4 years of employment
    Relaxed and casual office environment
    Most people are easy to get along with as Morningstar spends a lot of time when hiring to ensure new employees will be good cultural fit

    Cons

    My biggest gripe with Morningstar is their compensation, which tends to be lower than other companies
    The bonus pay structure is constantly changing and not always transparent, while the company provides quarterly updates on progress versus target it's difficult to understand how targets are developed
    Targets do not factor in industry peers
    Expect to get minimal raises each year
    There's a lot of turnover at this company, which surprised me when I first joined. It's interesting b/c the manager research group would ding firms for excessive turnover, but that seems fine when it occurs within Morningstar

    Advice to Management

    Improve comp structure and explain how targets are developed more clearly with employees
    I think better comp will lead to less turnover


  9. Helpful (24)

    "Incompetent, Corrupted Middle Management: Inside Stories from Workplace Engineering"

    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 (Less than a year)

    Pros

    A lot of other reviews have good pros, so you can refer to them.

    Cons

    *Poor Employee Retention: The company is well known among recruiters. Your coworkers leave with dissatisfaction with management. Some people choose to suck it up and choose to stay for at least 3-4 years because you need your sabbatical leave (6 weeks, paid) and vested 401k. But morale is still extremely low, though few people shares their feelings with others. The company is also very slow at replacing open positions or doesn’t replace at all. You see your manager doing non-managerial work a lot. A lot of managers are not actually managing.

    *Not Much Work-Life Balance: You are expected to work in this fixed range of 9 to 5. Your boss will also call you nights and weekends. He talks about working day and night like it’s a good thing. That’s when you can establish friendship with your boss if you are that type of person.. by the way, don’t bother coming in early because you don’t get recognized for that. Having said that, it’s relatively easy to take time off, so unless you are on vacation, you don’t have much flexibility.

    *No faith in Your Manager: He often skips a meeting you set up. (With or without excuses, it’s not important to him.) He may not respond to your message or give any feedback, especially technical matters even though he asks you to consult him. There is hardly any communication unless you specifically approach him; he doesn’t come to you. He says he will take care of something (for you), but he later asks with much frustration why you haven’t done it yet.

    *No HR Support: HR does not take issues related to your coworkers or managers very seriously. You need to follow up with them to at least get some kind of response. When they do, they say someone else will contact you. The person reaches you rather reluctantly only once. She might say she would reach back, but expect you won’t hear from her again. HR doesn’t seem to have much power there.

    *No Fact-based Performance Reviews: Reviews are highly subjective, mostly based on what he or other people think about you without facts or quantifiable matters. The goals you set up are just for documentation purposes to satisfy HR requirements. Your manager may write you up on something you didn’t do or an incident that never happened. Again, no facts are presented there to back up the accusation. When you defend yourself, he will say that he is only doing what he was told to do (I assume by his boss).

    *Coworker Spies: I was warned early on by a very close coworker of mine that some of my coworkers were secretly tasked to watch you. You should be very careful about what you say and do, and you don’t easily trust coworkers even if they seem friendly to you because they are testing you. Usually those who are watching have been with the company for years. Stepping out of your desk for a meeting can be interpreted as slacking off.

    *Politics and Red Tape: It’s top down as well. If your manager’s boss says you are wrong, your manager will say you are wrong. Discussion is over because your boss does not want any trouble which may affect his next promotion. Also senior managers and directors love to reiterate top executive messages like puppets and you will get a lot of “forwarded“ emails from them. Each manager then responds to say they agree without going much into why they agree.

    *No Teamwork: You receive very little support from your team members. Your team members usually work in their silos and don’t like to get involved in issues you may be encountering. You also need to be careful about asking and phrasing because they may tell your boss about your incompetence and ignorance behind your back. Some people are not officially part of the team, but they make changes without notice and break systems. You have trouble understanding who works on what. There is also a lot of finger-pointing, and you may be humiliated in meetings and in public like second class citizens and treated like parents punishing their children.

    *Disorganized Product Management: They say they are agile, but they are not. Business wants big plans and likes to pass to Engineering, who is stuck with a long period of coding and testing. Business doesn’t like changes because they don’t want to take time to revise and tell their clients to change. When the product is (finally) finished, it’s not always what business wants. Yes, it’s waterfall. What’s worse is that business does not sign off requirements. Engineers need to ask Business and write requirements down for Business.

    *No Innovation: In product development, senior management makes decisions single-handedly without analyzing problems, side effects, and compatibility. They like shiny, new tools and services everyone is talking about in the industry. No one seems to argue. Because problems may not be solved, many engineers are spending so much time fixing issues and adding over-complicated, often hacky patches all over the place, which are not always visible to senior management. At the end, you are recognized by “hardworking,” not the quality of work. They like it when you struggle a bit and make things work somehow. Big issues may come up, but firefighting is generally regarded as a way to establish a closer, better relationship with the top. (Yes there is a lot of firefighting in this company..) The company is managed by the same kind of people with the same mentality. If you don’t act like others, we get weeded out. They are stuck with the same problems over and over again with no innovation.

    *No Bonus: The company hasn’t been doing well financially. You may be told your bonus would be 10-20%, but you won’t get that. Some of my coworkers said their manager gave them 0% because of poor company performance. (It’s sort of a lie because you might receive a bonus.) If your salary goal includes any bonuses, think again.

    Advice to Management

    I already gave advice many times and not much has changed. I hope this review is helpful for those looking to join this company.

    Morningstar Response

    Jun 12, 2017 – CEO

    Wow, that’s a lot to take in! I’m sorry you had such a bad experience during your short tenure here, but I appreciate you taking the time to outline your concerns in such detail. There’s too much... More


  10. Helpful (8)

    "MDP is not what it seems"

    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
    Positive Outlook
    No opinion of CEO

    I worked at Morningstar full-time

    Pros

    Great benefits
    Beautiful office
    Most people are pleasant and intelligent
    Location in the center of the Loop, close to transit
    One of the biggest names in the industry

    Cons

    The Morningstar Development Program is not what it seems. For starters, you're definitely going to be put in either Data or Client Services for your entry level role. This is totally fine in itself, but this isn't revealed until after you accept your offer. They're both essentially call center/help desk environments. Both have their challenges, but Client Services is a nightmare.

    If you get placed in Client Services, get ready to get yelled at by the most obnoxious and rude people you've ever met in your life. The priorities change daily, which would be fine if there was an explanation behind it, but there rarely is. How you handled a call one day will be excellent, but the next day may result in a chat with your team lead and management. There's a feeling that management isn't always on your side. Everything starts and finishes from a viewpoint of what you did wrong rather than what you did right or what was out of your control.

    Speaking of which, your mileage may vary with managers. If your team lead and manager are responsive and understanding, you may be able to truck through until you move into another department at Morningstar. By the way, expect that to take at least a year. But otherwise, don't expect much. You'll get the runaround and a winding explanation anytime you express any concerns (or even have any questions) about your role or duties. There's rarely a straight answer.

    The MDP program says it promotes your career development, but I feel it is a very impersonal program, given the number of people in it. It's a bit chaotic and stretched thin, from what I experienced. You'll meet with someone in MDP leadership once every few months to discuss your career goals, and they are very pleasant and cheery people. But until you get the approval to move out of your first role, they aren't much help.

    Advice to Management

    Don't be disingenuous when marketing the MDP to people just starting out their careers. Tell people they'll basically be doing help desk type work for a year, and don't hide that behind fancy "consultant" titles that are basically anything but. It really leaves a sour taste in the mouth, and harms the new employees perception of the company and their role in it.

    Maybe roll back the program in terms of people admitted so that people can get more individualized and frequent mentorship.

    Make MDPs stakeholders in decision making, so that people don't feel jilted when a new team policy is put into effect.

    Morningstar Response

    May 31, 2017 – Head of Talent Acquisition

    Thanks for sharing your feedback, although I wish it were a bit more positive. Along with your list of “pros” (thank you, btw) you noted a few concerns and suggestions that I wanted to address.

    Be... More


Showing 257 of 640 reviews
Reset Filters