Good Start to Your Career (don't expect anything else)
Pros
Great start out of school to get your exams out of the way and a foot in the door. Great health insurance with an on site Nurse Practitioner Good PTO (but competitive PTO offered elsewhere despite what they may tell you) There is zero shame in taking PTO and using your full balance
Cons
- Manipulation: given this is a lot of people's first job out of college. Management grooms employees into thinking Vanguard is their best and almost only option. They lie and say the job is competitive to other employers, however, do not fall for this notion. There are MANY great employers outside of Vanguard that offer same if not better benefits. -After you pass your 7 & 63, there is no more knowledge that is acquired. (My advice is to sign up for your CFA or CFP on your own ASAP after the exams to continue your own self-development because you will not get it through the job; expensive but worth it in the end; don't wait to be "accepted" into their corporate programs) -Poor Management: Management is run by 24-30 year olds who, except for a handful, are more worried about their dating life within the company and can be some of the biggest gossips. It creates a very unique and odd work environment reminiscent of a high school clique. -Micro-management: While interviewing at other companies, it was a huge laughing point that there is a literal button you have to push to use the restroom at Vanguard. It is quite ridiculous to treat adults in such a way; additionally management is instructed to be very strict regarding the usage of this button -False Promises: Management lies and promises positions/responsibilities to employees for years to string them along in order to ensure employees do not leave the company. (This happened numerous times to numerous people and once you start you will hear story after story just like this) -ATTN New Employees: Vanguard is going through its' biggest reorganization in its' history. They have been very honest about the rough road that lies ahead while everything calms down. While this is occurring there is essentially a hiring freeze internally, where people are required to do another year within their job they were assigned during the restructuring. Due to the current lack of movement, be prepared for a long road ahead to move up in the company if you choose to stay as there will be many people that will be posting out to other positions at the exact same time. -Company is not run on merit, positions are awarded completely based on if someone has (for the lack of a better term) sucked up to management enough. -Additionally, new employees keep in mind despite how they may sell you the job...with the new reorganization you will be changing passwords and addresses for at least 6 months. Do NOT expect any financial development or you will be very disappointed. My overall advice if you are looking to move up in the finance industry: be grateful for your first job out of college, take the exams to build your resume, do not have a complacent mindset (or you will get stuck there), sign up for your CFP or CFA ASAP, start interviewing at other companies about 4 months before your 1 year mark, and then leave on or shortly after your 1 year mark as anything shorter looks terrible on your resume.
