Pros
Vanguard is a really good company to work for provided you know what you are getting yourself into. If you have a family and want a place that will challenge you but not break you, work between 40-50 hours, Vanguard is the perfect place. Their health care is amazing and they really do care for you as an employee with a family.
Cons
Climbing up after the initial first couple promotions is nearly impossible. Its understandable that with any company that is true but the feeling is that with Vanguard it is more prevalent. So many promotions are political moves vs. deserved moves. Additionally, compensation is a bit below market value but honestly being a family man, its well worth it since you get extra vacation to spend time with your family.