Vanguard reviews

The pay is awful. The majority of employees work in a C level role (non-exempt) and make in the low to mid 40's. These employees typically have a Series 7 and a Series 63. Go anywhere else and make at least $10,000.00 more. In order to keep costs low, management chooses to enact ridiculous programs like the VADP (Vanguard Accelerated Development Program), where they take a 21 year old college graduate, take them through a 16 month rotating program, and make them a supervisor of a group of employees at the age of 23. Not only does this cause resentment among older employees that are required to "report" to this person, but this newly minted "supervisor" has no idea on the responsibilities of the role of his/her subordinates, and inevitably leads to the subordinates coaching their supervisor on the role, as well as Vanguard's systems. Vanguard's diversity endeavors seem to be a parade against white people. They have specific programs for gay people, African-Americans, people of Asian descent, and women. Vanguard recognizes diversity as only diversity of physical appearance, and not diversity of thought. But senior management has fallen so deeply into the trap of groupthink, that this will not change, and management will continue to promote people who are not white over a more qualified white person. Raises are awful as well. There are certain performance ratings that will be given to you at the end of the year (Distinguished - up to 10% raise, fully successful - up to 8% raise, on track, needs improvement). If you are fully successful, you can expect a 2-3% raise. Distinguished, maybe 5 % if you are lucky. Once you are locked in at a salary, you are pretty much stuck with mediocre raises that don't keep up with cost of living increases, unless you go to another company.