Glassdoor is a website where employees, former and current, can post reviews of a company. Vanguard, per article written by Joe DiStefano, has decided, after 41 years, to start offering severance in return employees have to sign a non-disclosure agreement which states they will not discuss or sue Vanguard. In light of this it will be very unlikely to see any future lawsuits from Vanguard. In effect, Vanguard will be buying the voice of its employees in return for a few weeks of severance of an employee.
So the best way to keep your pulse on the environment at Vanguard is to use Glassdoor. It should be noted that Glassdoor is very effective, please compare Vanguard’s scores with their competition; Fidelity, TIAA-CREF, Schwab, etc…so you can see that companies can in fact have positive scores.
To start you off here are a few reviews:
January 14, 2017, The truth, ‘stop telling your people to write positive reviews to ‘fix’ the poor ratings and just start paying attention to what’s being said. Go back to the old Vanguard. Clean house from top down….’
January 11, 2017, ‘Bond desk’, ‘legalized harassment’, ‘advice, nothing they are a 2 trillion dollar company they’ll do what they want to, call centers are a modern day factory’
January 11, 2017, ‘I’m not a robot’ they track your every move, you are allowed 4 minute breaks, you’ll take 100 calls a day, advice to management, ‘we are human beings’
December 24, 2016 Wildly mediocre place to start or end a career, advice to management, start over, create a system that rewards hard work and professional achievement, pay your employees a good wage….
January 5, 2017, Take this job and once you get it immediately plan to leave, if this is your first job get ready because you will be worked to AT COST death, look at the people who took time enough to write thousand word reviews of how poor it is. ( Note, do you really think this person would give the CEO an approve if he/she felt this way? I see a consistent conflict on glassdoor with the review matching the CEO rating)
October 30,2015, Former Vanguard Manager Glassdoor review validates Vanguard’s Forced Ranking System
December 21, 2015 An Integrity – Free Farce of a Workplace, this review goes onto say four minutes per hour are assigned for breaks, 2 minutes for personal reasons like using the restroom and 2 minutes for reading lotus notes, crew members works through lunch and breaks to digest internal communications…..advice to management, nix the sneakiness and lies and remove the word ‘integrity’ from ads until it can be practiced from within.
December 18, 2015 Current employee Flagship Assigned Representative, current role is stressful, turned my salary role into hourly, can not go over 40 hours without permission which is not allowed because of overtime. Company values metrics over quality.
December 18, 2015, former brokerage associate, the amount of people who have left Vanguard to go to industry competitors just this last year is mind blowing….the crew is stretched by having to tackle so many job functions and you are having clients wait 20 minutes to place an equity trade….for my own sanity I thought it was best for me to run away from the dreadful walls of Vanguard.
December 17, 2015 Sad, but happy to be gone, I just couldn’t stand the relentless pressure to sell their managed investment account (Personal Advisor Service, PAS)
December 13, 2015 Micromanaging Experts, team leaders are generally fresh out of college and don’t know anything about what workers actually do….if you are a phone rep you only have 90 seconds to conduct a call…they let older workers (over 55) go in droves…
December 11, 2015 Orders Equity desk current employee, micromanaging never was the best approach, stop the ridiculous goal of lowering expenses, fire (Bill) CEO and hire someone who takes care of their own….
December 11, 2015, Once a career, now a job becoming more political than it had once been.
December 8, 2015 current employee 3 years has taught me not to hope, if you have read the other reviews about how screwed up the year-end rating system is I can verify the truth of those statements, as I was a victim…pay here is also terrible and it’s near impossible to get a decent raise.
December 6, 2015 Financial Advisor current employee, low pay, micro management, seeks to cut costs for clients at the expense of employees.
November 30, 2015 Not the place for high performers, pay your people what they are worth and value their contributions to the company. When you can drive 10 minutes down the road to a competitor and get a 30% pay bump it is hard to keep good people for long.
November 24, 2015 My heart is broken by where they are as a firm, Vanguard is an unethical business that will do anything to make money.
November 23, 2015 As a place to work Vanguard has jumped the shark, Too many controls and red tape, arrogant and cold culture…although they chant the mantra of diversity and corp charity it is the least diverse and least charitable (in the real sense) that I have worked for…when you ‘performance manage’ your people to leave while you beat while you beat your chest about UW(United Way) and others, then offshore jobs and force older workers out you are not charitable. Just lay people off instead of giving underserving bad reviews to force them out or fire them. This is dirty and not ethical. You are ruining peoples lives for your own benefit.
November 16, 2015 Appearance is everything vague performance expectations and ever changing metrics make this customer service position unattractive…stop treating employees like numbers…
November 5, 2015 Closest thing to hell on earth, I firmly believed Bill McNabb has destroyed Vanguard’s reputation. The pay is insulting…it’s all about cutting cost..
Oh, there’s much, much more….I’ve introduced you to Glassdoor, enjoy, it’s a great place to see what current and former employees think of a company. And for all current and former Vanguard employees, I encourage you to write your anonymous review so that the public knows what you’re living….I know what most of you are living…sure there are some who are clueless, but as I have communicated before, you don’t find what you are not looking for.