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Cetera Financial Group

Engaged Employer

Cetera Financial Group reviews

3.0

39% would recommend to a friend

(373 total reviews)
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Mike Durbin

48% approve of CEO

50% positive business outlook

Cetera Financial Group has an employee rating of 3.0 out of 5 stars, based on 373 company reviews on Glassdoor which indicates that most employees have an average working experience there. The Cetera Financial Group employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

373 reviews
3.0
Jan 18, 2022

x

Recommend
CEO approval
Business Outlook

Pros

flexible; good team work; growing

Cons

large company; owned by venture capital

1.0
Jan 17, 2022
Recommend
CEO approval
Business Outlook

Pros

4 weeks PTO starting. Remote work available - Even before COVID. The company has made several one time contributions to our 401K. The company match changed from 4% to 1% when COVID impacted the business. As things improved, the company has made several meaningful one time contributions to our 401K.

Cons

No work - life balance in accounting and finance. Here you have to balance your life around the monthly accounting calendar. Company holidays, MLK and President's Day, you are required to work. PTO is also disallowed from January through March. Many people here feel underpaid. I often see this topic come up during all employee calls. The company response for several years has been they are trying to calibrate responsibilities with job title, experience and pay. I have not actually seen any effort to do this. No cost of living adjustments or catch up raises. Standard raise is between 0 and 3 percent. This is a department that really does not take any action to make improvements. Every November or December, company surveys go out to all the employees. Results of the survey that went out just over a year ago showed overall satisfaction of company improved while overall satisfaction of the accounting and finance group deteriorated. The department leadership said they want to fix this. So the following September we had "anonymous" focus group to find the root of the issue. 10 months after the survey does not make it seem like this is a priority for them. Especially now that another survey has passed and no improvement actions have been observed. My guess is the plan was to blow smoke and hope the latest survey shows improvements. 2022 401K match is 2%, not 5% like you might see on a job posting. The extra 3% is not guaranteed and will only come at the end of the year if the company can continue to improve its financial position.

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Cetera Financial Group Response
4y
Thank you so much for taking time to post your thoughts, we’re certainly working very hard to ensure our employees feel both safe, during these unprecedented times, and valued for their contributions to our collective success. In some roles and functions, unusual hours may be required, but we strive to keep this balanced, based on the work and timeline required. We realize the impact this may have on engagement, as you point out, but we’re redoubling our commitment to work on these issues and accelerate our pace of progress. While we know we have some way yet to go, Finance leadership this year has been very focused on ensuring you have transparent communication from your senior leadership, more engagement and support from your direct managers, the opportunity to pursue a variety of learning experiences, and team forums in which you can share your concerns and ideas. These things are the foundation on which we’ll build an ever-better Finance organization and experience. As you note, the company began work some time back to standardize job titles, roles and levels, and launched a more universal approach to benchmark all facets of compensation, cash and non-cash. This process has taken longer than we’d like, but you’ll be happy to know that Finance asked to be one of the first groups to pilot this program, and as a result is in the lead position to roll this out very soon, likely before the end of Q1. While this won’t mean a change in compensation for everyone, it is a step in the right direction! And for sure, having visibility into what potential career paths can look like will be too. Lastly, as you point out, the company did reduce the match for the 401K during the height of the pandemic, as a part of a robust resiliency plan. The company had always planned to restore the match as the right time presented itself, and we have done that. While the new arrangement funds some of the match throughout the year and the balance at the end, we now have an opportunity for an even larger match than we had before, if we outperform. We believe this to be an innovative approach, that will keep our 401(k) program an attractive and competitive component of our total benefits offering as it always has been. Again, thank you for your input - we’re committed to making Finance and Cetera successful, and we need your contributions, talent and ideas to help us continue to improve and grow together!
3.0
Jan 10, 2022

Okay, I guess

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Core teams are great, and we're currently working remote

Cons

Communication from management is poor

Viewing 169 - 171 of 373 Reviews

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