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Prudential Reviews

Updated April 18, 2017
129 reviews

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Prudential Chairman and CEO John R. Strangfeld
John R. Strangfeld
52 Ratings

129 Employee Reviews

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  1. "Financial Professional"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Paramus, NJ
    Former Employee - Anonymous Employee in Paramus, NJ
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Prudential full-time (More than 5 years)

    Pros

    Flexible hours...but they encourage you to work 9 - 9 6 days a week

    Cons

    100% Commission! Highly regulated; very conservative company. The sell you on owning your own book of business yet they tell you how to run your business, what you can and can not say or do...AND when you leave, they own the business!

    Advice to Management

    come up with a base salary for reps who spend a lot of time promoting your brand and you do nothing but promote your products.

    Prudential Response

    Apr 19, 2017 – Social Media Community Manager

    Thanks for sharing your comments. The Financial Professional Associate role is a challenging one. We hope you felt comfortable voicing your concerns to your Manager while you were here with ... More


  2. Helpful (1)

    "Vice President"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President in Newark, NJ
    Former Employee - Vice President in Newark, NJ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Prudential full-time (More than a year)

    Pros

    Free employee parking and shuttle service between Newark offices.

    Cons

    Draconian human resources practices when hiring and terminating employees from top global banks and asset managers. Highly political and insular culture amongst "Pru-lifers" still surviving in positions of authority.

    Advice to Management

    Stop recruiting talent from world class financial firms. They will become miserable soon after they learn how rigid and insecure many executives in the VP and SVP ranks really are.

    Prudential Response

    Mar 21, 2017 – Social Media Community Manager

    We appreciate you taking the time to share your candid feedback, and we're sorry to hear you didn't have a better experience working for us. We'd be interested in learning more, and suggest you email ... More


  3. "Ancient technology, very segregated businesses, no consistency"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Human Resources in Newark, NJ
    Former Employee - Human Resources in Newark, NJ
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Prudential full-time (More than 8 years)

    Pros

    Short commute. People know the company name. I can't think of anything else.

    Cons

    Lotus notes still used! No investment in current technology: manual Excel spreadsheets are used in underwriting, sales, etc., which is prone to manual errors. There is no universal database or process...so you have Sales in 1 group doing work completely different from Sales in a different group. There are no consistent processes or sharing of information- each business group acts as its own independent company. The company claims they want to be modern and encourage the status quo...but once you do that you are told you are not a team player.

    Benefits are very expensive and there are no co-pay plans...it's all deductible (which are high).

    Advice to Management

    Invest in modern technology and software. Don't encourage people to bring up new ideas and challenge old ones since you don't mean it. Break down the silos.


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  5. "Toxic Environment (Prudential Retirement NC 401K Team, Raleigh NC)"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Team Manager, Retirement Education Counselors in Raleigh, NC
    Former Employee - Team Manager, Retirement Education Counselors in Raleigh, NC
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Prudential full-time (More than 5 years)

    Pros

    Any pros you will find will possibly be at another part of Prudential. The NC Dedicated Team is not a good part of Prudential.

    Cons

    Leadership fosters a toxic environment. For a few years now, since they brought new leadership in, there has been turnover, dissatisfaction, conflict and abusive behaviors. Three managers have quite in the last three years alone because of new leadership at on the NC dedicated 401K team which services the NC Total Retirement Plans. that new leadership is hiring people as fall guys in order to hedge themselves and make their bonus. There are reports of abusive behavior by leadership at the Raleigh office (Smoketree Court).

    Advice to Management

    You really need to investigate the leadership. There is no accountability. A toxic environment has formed. People are unhappy and their perception is that Prudential is allowing this to go on.


  6. "Sales"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Freelancer - Sales Associate in Irving, TX
    Current Freelancer - Sales Associate in Irving, TX
    Doesn't Recommend
    Negative Outlook

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

    Pros

    If you want to start from the ground up building a business in life insurance and securities.

    Cons

    Commission only. Very difficult to get started with no experience. Training is provided but there's not enough guidance to handle the difficult task of investing people's money without sufficient guidance on a daily basis.


  7. "Financial Advisors is a total scam."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in New York, NY
    Former Employee - Financial Advisor in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Prudential full-time (More than a year)

    Pros

    Brand recognition, people know the rock. Good first year bonus schedule, but not in year two and beyond. Good annuity products.

    Cons

    Advisors/Agents are hired into a Statutory W2 contract, this means that you get benefits and Prudential pays your payroll taxes. In your 5th quarter of production, they make you a 1099, you are still a statutory employee, now they take your benefits and FICA out of your paycheck but you are responsible for all the rest. So at this point it would be prudent to have your/an accountant do quarterly estimates so that you do not have a tax bill at the end of the year. They NEVER pay for expenses, meaning gas, tolls, etc., this is on you from day 1.

    As for compensation, ALL COMMISSION, DO NOT BE FOOLED BY SOME CROOKED MANAGER, telling you that the bonuses are like a salary. They are like bonuses, you hit the production benchmarks and you get the bonuses. When you write a piece of business, they calculate 'GDR" prudential grosses up the annual revenue, so if you write $1000 in premium they gross it up I will use the best case the factor is 1000x 1.10+1100. You are paid 45% of the $1100, so $495. When you enter your 5th quarter and you are now responsible for your taxes you still get the same commission, Pru has less responsibility and are on the hook for a lot less but they are greedy and do not give you a bump up. If you do not meet the minimum standard production after your second year, they will charge you $150 per week for your desk and data line. You will work from home you say, they still charge you. Now if you are paying for a desk,you have to pay an accountant,you pay for tolls, gas and car repairs, supplies etc., you should be getting a 80-90% payout. it will never happen. They tell you they love the field force and then talk when they think you can't hear how the field force is a drain and unprofitable for the company. Well Prudential after 140 years in business, if it does not work fix it. Sell it off and distribute your products through whomever.

    Don't fall for lines like, " this is your practice" , it is your business. Well... until you leave and they tell you they will hold your remaining commissions for 14 weeks after you leave. This has to be illegal in all 50 states. It is like your own business because you will work 7 days a week and 15- 18 hours a day.

    Managers are compensated on recruitment and have no time to manage their new hires, so unless you are lucky or have a huge network/family you will need help. So the solution is to get a senior agent to help you close your business, for half the commission, now you need to work twice as hard to make a living. I mentored a few people who were new to this business because I came with 15 years experience, good people but they needed a manager. I was not being paid a salary or getting override to be vested in their success, it took time from my doing my own work.

    Managers are people who produced for a while and were successful by Pru standards, they would be bottom feeders in any other firm, they got promoted to manager. No management training and if you go on sales calls with them, they cross the line the line and most of them should lose their licences. My manager took me on a sales call my first month, I made the appointment with a prospect that I developed, he went in and talked the client into a huge policy and told her if she was approved she can call and cancel her other policies with the competitor. This is replacement, when we got outside I said I guess I will be filling out reg 60 forms the rest of the week on her other 4 policies? He said, no if she gets approved she can do as she pleases with the other policies. I filled out the reg 60 forms, when I reported the incident the compliance guy said he would deal with him. Well he repeated this action with some of the new hires that i mentored. Compliance is a joke, they ignored the complaint and let him to teach this illegal practice.

    The environment is adequate but you can't compete with the wire houses, you will never pull in high net worth clients, there are no services for them, no matter what you are told.
    Brokerage business, it takes too long to open an account, managed money and otherwise. I had to mail an application to open an account for mutual funds, it took a week to get an account number.

    Life underwriting is a nightmare.

    Benefits- expensive and terrible choices. Someone I knew casually had to get treated for cancer, when the person asked for a leave for a few months, they were told that the short term disability is not for field force, it was for home office employee's only. so it was work through cancer treatment or go on state disability for $178 a week. Shame on you Prudential you do not take care of your people.

    Also, they really love life insurance and annuities, compensation modeling is based on this type of production. Do Not be fooled they are barely full service.

    Cutting compensation with the DOL ruling for the field.

    Advice to Management

    Pay attention to what your crooked field managers are doing, illegal replacement deals?? haven't you had enough investigations and issues.
    Pay a small, livable salary for at least 6 months with a reduced commission schedule so that people can live and learn their job. You have nothing vested in the success of a new agent. I laugh when you say you retain 30% and it is one of the highest in the market, FYI NY Life has a 40% + retention, 40% is better than 30% so you are not the highest in the industry.
    You got asked if you will be taking a cut in your astronomical salaries like the field with the DOL regulation changes, still waiting for the answer. The road show was a joke, cold cut sandwiches and we are hosing you on your payout was the message that was heard. Half the room googled your salaries, appalling.

    Wake up Caroline we all know that Pru will sell off like Met did.

    Prudential Response

    Mar 7, 2017 – Social Media Community Manager

    Prudential is committed to doing business the right way and does not tolerate unethical behavior. We strive to continually earn the trust of our employees and our customers. If you believe that your ... More


  8. Helpful (1)

    "Do not reccomend,,,high turnover and weak management"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Financial Services Representative in Omaha, NE
    Former Employee - Senior Financial Services Representative in Omaha, NE
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Prudential (Less than a year)

    Pros

    Former management good and training had some value

    Cons

    Senior management is not proactive or visible mentoring sgtaff

    Advice to Management

    Listen to employees and retain talent

    Prudential Response

    Feb 14, 2017 – Social Media Community Manager

    We appreciate the input we receive from former associates. We hope that you found Prudential to be a safe and open environment to voice your concerns while you were here. Even though you are no ... More


  9. "No Innovation"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Newark, NJ
    Former Employee - Anonymous Employee in Newark, NJ
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Prudential full-time (More than a year)

    Pros

    The hours are pretty regular, limited overtime in the office (but you can take work home, it's encouraged) and new limited federal regulations may help.

    Cons

    The Newark location is very hard to get to and not safe, the management team breed at Pru, new strategy and ideas are not welcomed. The chairman speaks about respect in the workplace and there really is none. People are afraid of making any suggestions or they will get fired.

    Advice to Management

    Hire new management team, transformation is not happening.


  10. Helpful (2)

    "Was GREAT until new Digital Chief Customer Officer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Newark, NJ
    Former Employee - Anonymous Employee in Newark, NJ
    Doesn't Recommend
    Negative Outlook

    Pros

    As a long-time employee Prudential was GREAT, now everyone working with Chief Customer Officer is either being laid-off or running out since there is no pleasing him.

    Stay away unless you have no other job options and can take high-ranking mrg who likes to yell.

    Cons

    Chief Customer Officer came in 2014 & laid-off almost all the people that built the digital solution center, including all the people that were part of his interview.

    Everyone is made to feel the pain - from laying off the PMO to hiring his old buddies from prior take-overs.

    Advice to Management

    Please review his practices; speak to FTE that are left and take appropriate action to bring peace to a department that was running well. We miss Mark S.

    Prudential Response

    Nov 28, 2016 – Social Media Community Manager

    Thanks for sharing your candid feedback with us. We're sorry to hear you had the experience that you did, and we'd be interested in learning more. We encourage you to email us at ... More


  11. "Monopoly of veteran employees"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Business Analyst in Dresher, PA
    Former Contractor - Business Analyst in Dresher, PA
    Doesn't Recommend

    I worked at Prudential as a contractor (Less than a year)

    Pros

    Good working space,prompt facility access

    Cons

    Devoid of innovations,low employee morale,bias if you not a FTE

    Advice to Management

    Please give people a chance to show their talent.Be more direct rather than soliciting opinions from peers



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