Pros
Free soda. In laboratory tests, the consumption of soda causes cancer in rats. Oh and an opportunity to watch beloved coworkers walk out the door with a box and a non-existent severance package.
Cons
My company was acquired by Envestnet a few years ago. Within a year most of my coworkers, were fired, laid off or simply left. After the acquisition, our firm was transitioned to Envestnet’s “wonderful” benefits package. In other words, our premiums went up, health care choices decreased, 401k match was cut in half and tuition reimbursement disappeared. I also realized the power base of the company was located in two places, Denver and Chicago. All of the other locations simply existed until the company decides to shut them down. The only reason why Envestnet acquires a company is either for its technology, assets or to remove a competitor. Fair warning, if Envestnet acquires your company within a year you will be out of a job. Oh and the severance package is a total joke. Now Envestnet doesn’t want everyone to leave right away because that would cause chaos and no one wants that. Instead upper management will flat out lie. At least that’s what they did to people at my company and I know countless others. Instead they will tell you to type up your procedures and then have you explain it to your new friends in the India office. Guess what, more than likely your job will get outsourced to the India office or moved to another office. I find the positive posts misleading and outright dishonest. Who wrote those posts? Based on what I know, I can only guess someone from HR or marketing. To those of you who did. Not cool. So here goes, Envestnet’s pay, benefits, 401k match, tuition reimbursement (none) and the nothing bonuses are below industry standard. I watched people, who should have been fired instead were promoted. I’ve worked at a number of places and Envestnet is the only place I witnessed that happen. Envestnet is not a money management company unless you count model funds the company sells made up of Fidelity ETF’s. It’s really a back office financial services company. Based on that, I’m surprised the company doesn’t have a bigger presence in India and other lower cost countries. I wasted 4 years at this place after my company was acquired because I was promised the world to stay and all I got was heartache and pain.
