Vanguard reviews

3.7

68% would recommend to a friend

(6,298 total reviews)

Salim Ramji

75% approve of CEO

66% positive business outlook

Vanguard has an employee rating of 3.7 out of 5 stars, based on 6,298 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Vanguard 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

6K reviews
2.0
Feb 21, 2016
Recommend
CEO approval
Business Outlook

Pros

Vanguard has a great training program. They also have solid benefits for all the full time crew which is the only reason why some people stay for as long as they do.

Cons

Vanguard really does not care about the crew (employees). Upper management will do whatever they can do to cut cost and 9 times out of 10 the Loyal crew takes a majority of this hit. The pay is lower than most similar firms. They always try to make you think you are not good enough for the job you want to apply for within the company. Very little room for career advancement unless you play their game and drink the kook aid. I worked there for a little less than a year and a half and it was so depressing seeing all of those talented people broken. If you work in the call center for too long you really start to believe yourself that you are not good enough to post for another job within vanguard or outside. Vanguard you losing countless talented employees because all you care about is dropping funds a basis point while you really need to care about all the crew that make it possible. I am happy that I got out when I did.

2.0
Jan 29, 2016
Recommend
CEO approval
Business Outlook

Pros

A major plus is that Vanguard provides excellent health benefits. In addition, the company even offers adoption assistance. The 401k plan is excellent. Vanguard matches up to 4%, in addition, Vanguard will put in 10% of your salary in the retirement savings plan - however, the catch is that you have to be vested for 6 years in order to obtain that full amount. Lastly, Vanguard will pay for the licensing fees as well.

Cons

While there are some pros for working for Vanguard, there are too many cons that justify staying at Vanguard for an extended amount of time. What the role boils down to is that you are working in a call center with no autonomy. While the company promotes flexibility in the role, there is no such thing. Flexibility is only available if there is time open according to business needs - which is almost never. To make things worse, management is inept. Too often Vanguard is hiring inexperienced managers right out of college. Often times they are hired into the Vanguard Accelerated Development Program (VADP), which does rotations throughout the year in different departments. Unfortunately, those rotations only give them a brief exposure to those departments. They are unable to become true experts and have zero management experience. This results in a manager who are generally in their young 20's telling people what to do, when they don't even know what they are doing themselves. While many are not against someone younger being a boss, all crew are against that boss knowing nothing and showing zero signs of leadership. In addition, each manager has a different set of guidelines. Some managers are more strict, others are more lenient when reviewing phone calls. This leads to varying statistics for crew. Which makes it much more difficult to attain the numbers that are set forth by upper management. These goals as it is, are extremely unrealistic. The goals have steadily increased this year and numbers show nearly half of crew across all sites have failed in meeting their metrics last year. Why on earth would management raise those numbers then? The culture at Vanguard is quickly deteriorating. While Vanguard preaches that is not a sales institution, it is pushing the new Personal Advisers Services greatly. Metrics on how many leads that are passed on count for each employee. The main benefit of PAS is the fact that they provide behavioral coaching. While for some it may be needed, many clients do not have a need. In order for crew to be successful in these metrics, they need to sign up so many clients each month for a consultation. The Assigned Representatives have a quota to hit for PAS leads as well, which leads to questionable behavior and ethics, and forces crew to strive to do anything in order to hit their numbers. Management likes to tell employees that they are doing "a great job" and like to offer "sincere thanks" for the job that crew does in this area. However, it comes across very disingenuous. Management also communicates very poorly with its employees. Half the time there are new services or letters being sent out to clients that staff is not informed about. Clients will call in knowing something that is changing that client facing crew have no idea about. When broached on this subject, management turns the question back on the crew. Coaching sessions are often just questions such as "what do you think you can do better?" or "how did that make you feel?" or "what are your thoughts on this subject?". While that can be useful, when it is used too often it makes leaders seem as if they are deflecting and really have no input or knowledge. Lastly, I'll end with the fact that Vanguard prides itself on never laying people off. While this is true, what that really means is reassigning people to different departments. That means that an employee will have to find a new role within 90 days, which could very well be at a lower salary often times, and if they do not find a role they are done with the company. Sound very fair?

2.0
Nov 16, 2015
Recommend
CEO approval
Business Outlook

Pros

Great first job for recent college graduates (until you realize what you're worth), 3+ weeks PTO, 4% 401k match + 10% company match vesting schedule, incredible insurance coverage and company pays for securities licenses (7/63).

Cons

The decision making process on a crew member's future lies solely in the hands of his direct manager. Yes, much more is involved with year-end evaluations and such; however, a TL's decision will label and follow you. Vague performance expectations and ever-changing metrics make this "customer service” position unattractive and ultimately a revolving door where worn out, un-stimulated crew are eventually put out to pasture and fresh, new talent takes their place. Once labeled, regardless of metrics, a crew member will find it nearly impossible to buck the trend and receive a promotion to a new department. Additionally, coveted roles, such as PAS, FFS, FAS will not consider you for a position or even an interview with a "track-record”; unless you're willing to rot in Retail Services for the next 3-5 years making below industry average and changing addresses. It’s truly sad to see how dejected Retail Services has become and how much the department has shrank within the last few months. Rather than address the issue and collaborate on ways to improve morale and retain employees, our CEO addressed our spike in engagement with a challenge to each employee to solve the problem and to take personal action for their work environment…this is the day my Vanguard soul died. Ultimately what is most disappointing is the amount of talent Vanguard allows to walk out the door rather than attempting to retain and relocate it, with the same stale mindset that new talent will always come knocking. It’s this type of mindset that does not appeal to millennials and will create a barren workforce for Vanguard in years to come, as we’re beginning to see already. It would be refreshing for once to see Vanguard’s mission statement overlap and extend to the treatment of their employees, but instead, Vanguard would rather gloat and present themselves to the public as the investment company that looks out for the little guy; because after all, appearance is everything. Undoubtedly the best thing that came out of my brief career at Vanguard was the ability to say that I worked at Vanguard; never mind telling people what I actually did there.

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Glassdoor has 6,989 Vanguard reviews submitted anonymously by Vanguard employees. Read employee reviews and ratings on Glassdoor to decide if Vanguard is right for you.