TIAA Reviews | Glassdoor

TIAA Reviews

Updated November 12, 2018
1,291 reviews

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3.4
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TIAA President & CEO Roger Ferguson
Roger Ferguson
799 Ratings

1,291 Employee Reviews

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Pros
  • "Company also has a wonderful "work/life balance" policy in place" (in 119 reviews)

  • "The company offers great benefits" (in 154 reviews)

Cons
  • "no such thing as work/life balance in IT" (in 53 reviews)

  • "Senior management now cares more about growing the company than serving clients" (in 39 reviews)

More Pros and Cons

  1. "Financial Services Consultant"

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

    I have been working at TIAA full-time

    Pros

    Great company. Great Work Life Balance

    Cons

    Not much. Management is doing a good job.

    Advice to Management

    Keep up the great work


  2. "Great Company"

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

    Pros

    Training, Benefits, and excellent products. Focus on doing what is right for the participants.

    Cons

    With any big corportion change takes time, you have to be patient.

  3. "Wealth Management Advisor"

    StarStarStarStarStar
    Current Employee - Wealth Management Advisor in Chicago, IL
    Current Employee - Wealth Management Advisor in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great benefits- 4 month fully paid maternity/paternity leave, great clients, wonderful co-workers, wonderful retirement benefits

    Cons

    Upper management is slow to make changes. Technology and systems are less than desirable. Push for managed money is big


  4. Helpful (1)

    "Good company, bad management"

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

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

    Pros

    Great company to work for, good benefits, great coworkers.

    Cons

    New management came in and cleared out old management, unfortunately new management did not understand how the department was run because it is different than traditional trust companies, so they brought a lot more work back to our plates that we had gotten rid of over the years so that we could increase our customer count. All the extra work brought back made the increased client book size unmanageable. Management did not listen to us and as a result they suffered bad ratings on our yearly surveys.

    Advice to Management

    Don't throw out your best workers because you chose to ignore their needs and requests.


  5. "Financial Consultant academy"

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

    I worked at TIAA full-time

    Pros

    Great company to work for

    Cons

    Fail test will be fired

    Advice to Management

    Find a way for someone to find another position before letting them go


  6. Helpful (8)

    "Wealth Management Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Wealth Management Advisor
    Current Employee - Wealth Management Advisor
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at TIAA full-time

    Pros

    -Salary is appropriate for the level of servicing provided to clients
    -Benefits are ok (better if you’re looking to start a family)

    Cons

    -Unsustainable expectations of sales from management
    -Micro management of experienced sales professionals
    -Teaches a sales technique that is questionable (arguments can be made by both sides but ultimately comes down to “intent”)

    Advice to Management

    -acknowledge that it’s a sales organization that has lofty sales quotas. Then maybe, the goals can be aligned with the executive team. Cannot have puff pieces about how “client” focused TIAA is then turn around and say, “max out on your bonus checks by knowing which products make you the most money”
    -read ALL the other current/former employee feedback also. Many of the suggested changes would be very helpful


  7. Helpful (2)

    "Changing times"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Human Resources Generalist in New York, NY
    Former Employee - Human Resources Generalist in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great mission, vision, values and leaders.

    Cons

    The strategy appears to be evolving away from the core of the company.

    Advice to Management

    Determine if where we're headed aligns with why we were put in place as an organization.

  8. "Genuinely caring and relaxed atmosphere"

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

    Pros

    Relaxed atmosphere
    A genuine care for the customer; they really believe in their values unlike most

    Cons

    Slow moving in terms of technology
    Lots of red tape


  9. Helpful (28)

    "Wealth Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Wealth Advisor in Houston, TX
    Current Employee - Wealth Advisor in Houston, TX
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Competitive base salary and you are given a book of business as advisors are constantly leaving and clients get reassigned. Good benefits, good PTO allowance and parental leave(good luck not being guilted about using it though).

    Cons

    It is no longer about the clients best interests. Selling TIAA products is the only thing that matters and all you are judged on, whether or not it is right for the client. Unethical sales practices such as misleading and outright lying to the client or withholding material information are not only condoned but forced; if you refuse to sell the way they insist, you will be managed out. Management states that they hear us and will change but, other than small cosmetic changes, the culture still remains one of fear and intimidation. Sales goals that increase 20-50% every year as your client book gets larger and larger but support gets cut every year as well so you must do more with less.
    Ultimately, you are nothing but a number:your percent to quota. If you ever fall even slightly below 100%=you are put on performance plans and on the road to being fired, not given support to effectively do your job.
    If you are a minority, your chances of success diminish as the best leads and opportunities and training are given to white males while you get bombarded with service issues and clients that need a ton of handholding but no sales opportunity. The company has been actively seeking to hire more minorities over the last few years and I think this may be due to several discrimination lawsuits that emerged over the last 4 years. There was a recent article in the New York Times in October 2017 exposing much of the revenue-driven sales practices to the public but we were told by management to “deny,deny,deny” when our clients asked us questions although most of the details around the sales practices and culture were true.

    Advice to Management

    Many have tried to tell you what is happening but, since nothing is changing, I have accepted that you just do not care. As long as the company exceeds its revenue numbers, and makes more revenue, maybe you don’t care that it is a stressful, punitive work environment. You have been made aware over the past 3 years of what goes on but nothing happens-the managers that insist on unethical practices to make the sale get rewarded with fat bonuses. Like everything else, this will eventually come to light and the reputation that TIAA has worked so hard to build over the last 100 years will come crumbling down; you have already seen some of this start with so many institutions taking their business elsewhere after the NYT article. My advice is to thoroughly investigate this and end this behavior and get rid of the cancers before that happens. Think about how much more you could grow with true servant-leaders at the helm instead of ones that take all the credit in good times but put all the blame on their people when numbers fall short.


  10. Helpful (3)

    "Wealth Management Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Consultant in Charlotte, NC
    Current Employee - Senior Consultant in Charlotte, NC
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Okay Benefits. Has long history

    Cons

    Good old boy inner works. Head of wealth thinks minorities are lazy and not capable of doing good in the company and only rewards non minorities.

    Advice to Management

    Really embrace diversity and stop ignoring the efforts the company making. Stop hiring these advisors who want easy street. You are creating a boiler room environment. They give minorities a hard time because everyone feels threaten for their jobs.


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