VALIC Reviews | Glassdoor

VALIC Reviews

Updated June 20, 2017
139 reviews

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Full-time Part-time

2.8
Star Star Star Star Star
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Bruce Abrams
41 Ratings

139 Employee Reviews

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Pros
  • You get a book of business but it's hit or miss if it even will pay much residual at all (in 17 reviews)

  • Healthcare Benefits are good and work life balance is important to management (in 7 reviews)

Cons
  • It all depends on the book of business you are assigned to work (in 11 reviews)

  • Low base salary that goes away after your first year (in 4 reviews)

More Pros and Cons

  1. "VALIC Financial Advisors"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Sacramento, CA
    Current Employee - Financial Advisor in Sacramento, CA
    Recommends
    Positive Outlook

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

    Pros

    Lots of autonomy and the ability to work in retirement plans to assist and advise participants on their financial needs. Great compensation and benefits package aligned with advisors effectiveness.

    Cons

    Must be somewhat entrepreneurial and self motivated.

    Advice to Management

    Keep an open mind in new ways to support advisors and groups.


  2. Helpful (2)

    "Senior Implementation consultant"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Implementation Consultant in Houston, TX
    Current Employee - Senior Implementation Consultant in Houston, TX
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Healthcare Benefits are good and work life balance is important to management. Free parking and remote work days. Company allows employees to participate in various volunteer activities

    Cons

    Lack technology to keep up with the high demand of online customer services experience and company does not provide yearly merit increases to accommodate for cost of living

    Advice to Management

    It's important to promote within the company first. Compensation and merit increases need to be reviewed

  3. Helpful (1)

    "Exceptional Part Time Benefits, Nothing Else"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Scheduling in Durham, NC
    Current Employee - Scheduling in Durham, NC
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Work schedule is very flexible and the scheduling team is very supportive. Valic is a good stepping stone to work somewhere else after 6-12 months.

    Cons

    Pay raises, full time opportunities, and advancement are non-existent. Base pay is below industry standard. Turnover is high from both the staff and management side.

    Advice to Management

    Don't underestimate the talent pool from within.


  4. Helpful (2)

    "Financial Advisor"

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

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

    Pros

    Have a book of business and a group to work to start with.

    Cons

    If you work in the 403b market you will be forced to have a large book of clients that cannot be serviced effectively. Lots of low balance customers that need tons of service work and tons of pressure to make sales numbers and enrollment numbers. Management had favorites and those advisors would get leads and preferred treatment. If you are a woman watch out for sexual harassment....

    Advice to Management

    No words....


  5. Helpful (2)

    "Project Manager"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Project Manager Conversion Services in Houston, TX
    Current Employee - Project Manager Conversion Services in Houston, TX
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Benefits - i.e. Health, vacation

    Cons

    Static -
    -Not a lot of career progression opportunites
    -Not a lot of financial promotions

    Advice to Management

    Take care of the people you have. Shake up your management/evaluate your tops.


  6. "great company"

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

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

    Pros

    Benefits, Training, Development, Support
    Flexibility and work life balance.

    Cons

    Micro- management from some managers who've been at the company for years.

    Advice to Management

    Your employees have good ideas as well that should be considered sometimes.


  7. Helpful (5)

    "THIS IS NO PLACE A BROKER WILL WANT TO STAY"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Field Advisor in Nashville, TN
    Former Employee - Field Advisor in Nashville, TN
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Excellent Health Benefits. Sign-Up Salary...

    Cons

    This is a captive company. They want to control EVERY aspect of your career. You are only permitted to sell VALIC products and other lines ONLY through their channels. Regardless of how hard you work or what you build, VALIC makes it clear that they OWN your business. One broker I know who was with them for 25 years was terminated. Why? Because VALIC imposed requirements for selling a certain volume of their Variable Annuities and he was unable to accomplish this. It seems he had built his entire business there around selling mutual funds within accounts he developed. These were large accounts and required ongoing servicing, so he did little time to focus ANYTHING else. This was his reward for 25 years of loyal service. In addition, VALIC changes their service forms more often than some people change their underwear. So one is often re-doing work. VALIC does this though to make things as difficult for the client to move their assets elsewhere as they can. So BOTH clients and brokers are left with a bitter taste in their mouth.

    Advice to Management

    Realize that the corporate culture is anything but innovative and efficient. VALIC does not meet the needs of either its brokers or their clients. In addition, all VALIC meetings and production reports are a TOTAL waste of the broker's time and resources. I had a great manager, but the corporate culture is such that one's manager is really limited in being able to help you build THEIR business.

  8. Helpful (4)

    "captive insurance agent"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Minneapolis, MN
    Current Employee - Financial Advisor in Minneapolis, MN
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Very nice 401k plan. 6% match plus 3% discretionary. The 3% was added when they stopped the pension plan. Decent grid level payouts. But good luck ever getting higher. You get a book of business but it's hit or miss if it even will pay much residual at all.

    Cons

    Valic is officially a captive agency now. You can only sell AIG/Valic annuities.
    Mutual funds now have to be in brokerage accounts and cannot be held at the fund company. Compensation is constantly changing and they only pay half street level commission their flagship FIxed indexed Ann. And that goes to grid also. Lowest grid level currently 35%. Valic is a typical insurance company trying to look like a full service brokerage/investment firm. Their brokerage operations are laughable. Took 3 months to execute transfer in kind. You cannot solicit individual securities even if licensed to. Wow I could keep going...

    Advice to Management

    Management is mediocre. Terrible retention across the board. Valic is a dinasour trying to give one last roar before they collapse under their conflicts of interest.


  9. Helpful (3)

    "Financial Advisor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Manatee, FL
    Former Employee - Financial Advisor in Manatee, FL
    Recommends
    Positive Outlook

    I worked at VALIC full-time (Less than a year)

    Pros

    Work with government employees to set up retirement planning. Well defined prospect base. Given client base to provide a base pay. Good benefits. Very good training. Support of an international parent company. Set your own schedule. Work independently with little supervision.

    Cons

    You must be self-motivated. Will have to be self-disciplined to keep your own schedule. You will run the wheels off your car. But, the opportunity is there if you go after it.


  10. Helpful (1)

    "Financial Advisor"

    Star Star Star Star Star
    Current Employee - Financial Advisor/Retirement Plan Consultant in Apopka, FL
    Current Employee - Financial Advisor/Retirement Plan Consultant in Apopka, FL

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

    Pros

    Great resources and training tools

    Cons

    Management is not as hands on as I would like for those individuals newer to the company


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