I'll start by saying that this job wasn't for me.
After 2 and half years in a technical role where we were pretty much tied to our desks, it was difficult to stay "engaged". These things may describe a typical office atmosphere, and maybe I am too sensitive regarding office politics, but nonetheless this should prove useful to prospects...
-The job's pay grade was similar to entry level phones, but involved demanding and higher complexity work.
-3 months of training in a job that should require a minimum of 6 months with on the job training and labs.
-You will spend literal years learning the processes only to find that this knowledge is almost exclusively useful in this job and this job only.
-Being off of main campus - unhealthy people, no respect for the dress code, entitled and generally spiteful colleagues who have no interest in working in a team atmosphere.
-Rising sophistication of technology lead to more specialized and technical work, without a raise in pay.
-Despite constant patches and updates, internal systems and technology were well behind the technical prowess of rival firms resulting in daily crashes, sometimes effecting the entire department (which would lead to lunch cuts and mandatory OT).
-Vanguard will not "lay off" employees in times of hardship, but they will manipulate any situation in order to justify a termination. This happened to many.
-Many of my close friends were high performers, who in their first year were given strong reviews, raises, and a pay grade bump. In the second year, after 3 department head rotations and multiple manager transitions and replacements, these high performers were met with increased criticism, sandbagging, and general mind games which lead to decreased motivation, higher stress, and decreased productivity, while leaving them basically helpless to build upon themselves professionally.
-Multiple restrictions to employee schedules over time (from 6 available shifts to a dismal 2). Better hire that babysitter you can't afford.
-Forced OT (I heard about this after I left) for remaining staff due to attrition and numerous terminations.
-Constant pressure from management to do more work than you can actually do.
-Despite some truly amazing supervisors and managers, there are always the people who can ruin your experience with a company. Not much accountability for supervisors. Walk in at 9:30, leave by 11:30 to shop at KOP, return at 2, absent from desk until 4, never returning an email. I honestly have never seen people get paid so much to do so little.
This is basically scratching the surface. I have read the rules and this is not a rant. This is intended to warn those who seek entry level employment within Vanguard's processing departments. If you truly love the markets and financial services in general, you will most likely be able to look past most of these issues and find something that truly drives you beyond this role. If you are a creative person, if you like to have an impact on the company you work for and expect your opinion to be valued, this is NOT the place for you. If you respect your own humanity and believe that people should be treated as people and not as a unit or a number, this is NOT the job for you. This is a big company who is pretty well known for being old fashioned and "at-cost" (cheap). Compensation is low, Partnership is nothing like it used to be, and office politics will drown you. Do yourself a favor and consider other options before accepting $34,000 a year in hourly salary in the suburbs of Philadelphia. Good luck with that right out of college with student loan debt.
