Vanguard’s core investing business is top notch; otherwise, it is a highly fragmented organization.
A corporate culture of mentoring, volunteerism, charity, and responsibility. A good work/life balance, flexible time, telecommuting, reasonable compensation, and advancement opportunities are all available, but are highly dependent on the department and/or manager. My time at Vanguard spanned all three of the CEOs. The company has changed (and continues to change) from an idealistic, iconoclastic company to a much more mainstream, growth-oriented American corporation. You will succeed and be very happy at Vanguard if: You buy into the culture, you’re politically adept (and politically correct), you get satisfaction from tooting your own horn, and you believe that process trumps product. Cross-departmental / cross-divisional projects often felt adversarial. Lots of little fiefdoms protecting turf rather than collaborating for the good of the company as a whole. Very bureaucratic. Management’s general avoidance about taking ownership and actually addressing the issues. Best to push things onto subordinates (the lower the better) without clear expectations or the appropriate resources and maintain plausible deniability. Little evidence of a cohesive (company-wide), long-term strategy or vision. A strong focus on fixing the small immediate problem in a way that frequently results in more work / re-work later as well as squandered resources. The recent changes to compensation and profit-sharing reward job performance over tenure. While these changes may have been necessary, they h
Prosa stable, respected, conservative company that offers job security, excellent 401k match, very good retirement plan, good benefits, and employee services.
Consit never felt like vanguard was a single company.
typical day at work revolved around working a schedule where you would have time allocated throughout the day to work with clients as well as the other time would be to work with clerical and monetary transactions.
I learned a lot about IRAs, Trusts and Individual accounts as well as the rules and regulations for them. I also learned a lot about mutual funds, ETFs and various money market accounts, including Brokerage accounts too.
Management, is something that needed much help in this particular department, I feel that it was a cookie cutter approach used in my department and from an employee perspective who is managed, I think that good managers should use different managing styles for different people due to the fact that everyone isn't the same and various approaches should be used when working with your team.
Co-workers, it is a typical call center type of environment, but mostly due to the nature of the business we are in everyone is professional and most are easy to get along with and are a pleasure to come in contact everyday. Now on the other side of that coin there are a few sour ones that are constantly miserable and no matter what is said they are always on the opposite spectrum of everyone else, but it isn't enough to make the department terrible to work in.
Hardest part of my job, Salary, Salary Salary..Also it would make the employees a lot more engaged if our department was paid what the average industry is paid for what it is we do. Our department
I found Vanguard to be a bit of a 'wolf in sheep's clothing'.
It seemed like a reasonable place for someone my age. No pressure to get licensed if you have no interest (That has changed). Great benefits and supposedly, pay raises.
To start with the positive: If you can remain on the payroll there is a bonus earned in the calendar year, but not paid until June of the following year. However, although you may have 'earned' the bonus if you are not on payroll on June 30th of the following year, you don't get the bonus.
The health insurance and other benefits are good.
The 401(K) is generous, BUT the vesting period is 6-years.
Good luck advancing anywhere if you don't get your license. It is very difficult to advance at Vanguard if you don't. It is also very difficult to get an interview for posted positions if your numbers aren't perfect. There is a sense of nepotism.
The metrics are typical of a call center, but not easy to meet consistently and if you don't meet them consistently you can be placed on a Performance Improvement Plan (PIP).
Many requests for additional coaching and training went unanswered so, how can you improve your performance? Assimilation??
The initial training for what can be complicated financial tasks was inadequate and lacking in any real-time or hands-on experience. All follow-up training was lacking as well. No hand-outs, the trainers are not actual trainers, just co-workers and a.limited time allotted to training because everyone mu
Vanguard is a great company. They truly care about clients and the community. Employees get a volunteer paid day off and have many opportunities to volunteer for the United Way and Vanguard. Additionally, the benefits package is competitive with health care, life insurance, and a 4% 401k match starting in your second year. You get about 18 paid days off to start too, but you're going to need them. You can also buy a week of PTO and almost every one does. The people I work with are amazing. There is a good mix of young and old but my department particularly has a lot of fresh-out-of college blood.
The company extensively trains its employees and encourages us to help clients. Metrics are unrealistic, though, and creativity is not a big part of the day-to-day life of an investment professional. It may be if you are in IT (and the IT department definitely needs people as the systems have been crashing a lot lately). You are trained to offer as much as possible but are given an a goal to speak between 400 and 500 seconds to each client on average. I like to talk to people and helping a 90 year old log online and place a trade on their own does not take 400-500 seconds.
I work 4 days a week with having a three-day weekend one week and getting two week days off the next week. This is going away for brokers in the next few quarters. 10 hours sitting in a grey cube with a constant beep is not what I wanted to do when I was 12. I have attempted to move up but the company moves q
Most all Vanguard employees start on the phones, and you are advertised 1 year on the phone before jumping into a different role. You're just expected to do the job everyone hates before you can do anything else. I've now been in the role 4 years because I've either been passed on by people in departments that are more respected within the organization, or the roles that are posted are restricted to those who are already within the department you are trying to go to.
The management within my department set strict metrics, which isn't necessarily a problem, but they hardly provide the tools to help us succeed. The department is plagued by technical failures and then enforcing malicious compliance double standards (clock in here, use break time here, etc.). For instance, if you are stuck on a call which goes into a scheduled break (which lunch is often shortened because they can't forecast accurately) you can still take the allotted time but because it's now out of the time that was scheduled for you, your metrics are impacted by it and you have to either take an even shorter lunch or just the loss to your other metrics. You can expect to hear from management their constant gratitude for "Your continued flexibility and dedication" which never sounds as genuine as they might mean it when they're idea of giving back is to give the regularly scheduled lunch time back.
I've worked here for 4 years and I've only just now made it to a point where I feel like I'm being paid a fair e
• Systems monitoring and administration of Servers for day-to-day problems, patches, user administration, hardware failure, monitoring log files, backup, software up gradation, configuration changes and documentation.
• Installed Solstice Disk suite 4.2 & Administration of Solstice Application Products on SUN machines and implemented RAID 0, RAID 5 and mirrored the Root Disk for redundancy of the Operating System.
• Installation and Administration of Solaris 8, 9 and 10 and using Jump start server and Linux Operating System using kick start including performance monitoring, scaling and capacity planning and hardware maintenance of Sun fire servers.
• Using HP Service Manager tool for creating Change Requests.
• Web Site Hosting on Linux (Apache), NT (IIS)
• Experience on LPAR, DLPAR, HMC, Micro partitioning and VIO servers.
• Performance monitoring for Solaris/Linux workstations, servers, and peripherals.
• Planning, installing and configuration of operating system on new Sun Servers.
• Troubleshooting in house applications, 3rd party applications and supporting IT infrastructure.
• Providing day-to-day user administration like adding or deleting users, password aging.
• Document instances of system integration, design, modify architecture diagrams for all environments.
• Installation of Apache, Web logic and Tomcat Web servers.
• Creating SSL certificates for windows servers and Solaris/Linux Servers.
• Developed UNIX shell scripts using Korn, C Shell, Ba
Make no mistake, VG is the king. Put it this way, early-mid 2000s, they were just creeping up on the $1T AUM behind only Fidelity. Pay has never been close to adequate here, however back then they more than made up for it due to unmatchable benefits, security and incredibly bright colleagues surrounding you. Vanguard CLEANED HOUSE in terms of other companies when 2008 recession hit. They had always stuck to their guns of low cost etc, so ppl both individual and institutional flocked to get on board. By early 2013 they were approaching $2.5TRILLION!!! Yes. That is how much the wiped out other rip off firms. Good right? No. This is when this company sold out everything it ever stood for. You will be a phone rep. Period. By the time I quit (and the attrition was out of control and hear it still is ) Basically all they hire is know-nothing arrogant 22 yr old local U grads who lead the charge of incompetency that is simply rampant in that firm. The product itself, mutual funds, and most other products are absolutely the best in the biz. Customer should be happy. But internally it was no exaggeration the equivalent of working in an Indian call center with a mix of some completely brilliant, underpaid/utilized ppl, while other half were clueless twits..Made for bad mix and the management had continued to plummet..Moral: Invest there, don't work there. It's a joke
ProsEasiest 'finance' job available
Conszero career advancement, atrocious pay, VG will never sponsor FINRA/NASD unless they absolutely have to.
The company thrives on young people for their first job and many stay. I begin to think that they are just not committed to their career growth. Those that do stay the company will project to them how important their job is but understand they will keep you on a tight reign. Vier slightly from the rules even if it makes sense and will help the client you will hear about it. When they state a project needs attention they actually mean an activity. So something that broke manually or electronically needs to be fixed and they need people to manually fix the issue. The IT staff from my 30 years experience is lacking tremendously in skills to make the everyday work processes efficient. The company has decided to now spend a significant amount of money on a new LEAN process. Being a LEAN instructor for many years they are not ready or experienced enough to pull this off easily. I went back to work due to boredom with retirement. It was interesting initially and the promises made sounded like it might be a interesting path before full retirement in less than two years. Well I am now looking for something much more challenging and it is not at Vanguard. If you take a job here either make sure you are on a great management path and can make your mark or as a young up and comer stay for 2 years to get experience and move on. Your career is in your hands not theirs
ProsLots of young people like college -they say they have great benefits but I do not need them.
ConsManagement is not experienced, nor well trained, and they always point to the infamous manual as their answer
Typical day includes dreading that you have to go in to work. Dealing with poor management. Management that doesn't know how to open their email and correspond, management that doesn't back their staff, management that doesn't have any Management background. I learned that to work there, you have to brown-nose to advance, not know how to read or write, and not ask questions because people get offended. The department I worked in wants to make things better, and yet, while they are pushing you to make positive changes for the organization, they are holding YOU accountable and NOT the people not doing their job right. What does that say about the culture? There is no growth in that. They will stay the same, and there is no discussing that with anyone there because they will "yes" you do pieces, agree profusely, and then nothing will change. In other words, they all seem to drink the same Kool-Aid.
The hardest thing was knowing nothing you would our could do would make a change for the better. It was all a farce - they don't want to improve, they just want to do everything they can to make it appear that is what they are doing while nothing ever changes. The only enjoyable part of my job were some of my colleagues that were in total agreement with how things were run, and we had each other to understand and sympathize with. The number of free lunches and events Vanguard holds don't make up for their total lack of reputable management.
ProsNot everyone drank the Kool Aid, the Galley had good food, Partnership
ConsPoor Management, Retaliation, No one to trust or turn to
Don't dare say ANYTHING to racially charged management.
There is NO onboarding process which leads to unreasonable expectations for learning and navigating the "uncharted" waters. Read lots of reviews about the "Kool Aid", politics,etc.
What comes to mind is if you say, do, walk, or look in any way in which they don't approve, you will NEVER go anywhere regardless of your tenure, skills, background or experience.
Some Management come across like "my expectations are x", but don't dare ask any questions, ask for.help, and most importantly, don't even look at those in Sr. Management. In fairness this is specific to the GOLIATH building. You will have no clue as to what you need, if you're in a "protected" class, just quit because you will NOT succeed. And DO NOT turn your back on anyone otherwise there will be a knife in your back as they smile in your face.
I spent 18 years working for a.Director, Vice President with perfect SAT scores, a 171 INTELLIGENCE QUOTIENT (IQ), and a long time member of Mensa. I managed to be promoted 8 or 9 times. Conversely, I was spoken to, and treated as if I was the dumbest person in the world because I absolutely refuse to be anybody's puppet. I will succeed and predict within 10 years VANGUARD will be on the downside of their reign if they continue putting square pegs in round holes within Management.
ProsOverall great company, Some crew seem to want to help, unless otherwise directed if you are TARGETED by those in a higher level.
ConsDinosaur Management, unrealistic expectations, politics, politics, and yet more politics.
Questions And Answers about Vanguard
If you were in charge, what would you do to make Vanguard a better place to work?
Asked Feb 5, 2019
More pay, more flexibility, more non phone roles
Answered Nov 9, 2020
Treat people like humans not robots
Answered Nov 7, 2020
What questions did they ask during your interview at Vanguard?
Asked Jul 9, 2016
Do you have knowledge of corporate actions
Nothing technical I got hired during COVID so the Intwrview process was very different than the norm
Answered Nov 7, 2020
Vanguard prefers people to interview in their way. So go in prepared to talk about specific things you have worked on by outlining the challenge, the strategy you took, how you overcame obstacles. Plus it’s important to then finish with the results.
Answered Jul 2, 2020
When in the hiring process does vanguard drug test?
Asked Sep 24, 2017
I went and took drug test right after in person interview
Answered Mar 5, 2019
Before you can attend orientation.
Answered Jan 5, 2019
If you were to leave Vanguard, what would be the reason?
Asked Mar 26, 2017
Bored to death
Answered Mar 7, 2019
There is initiative to bring in outside talent (HR head deemed "hitters") due to stale, long tenured staff, who have been bouncing around random job functions as "people leaders" for 20-30 years, but do not have the requisite skill set to lead any department. The company outpaced it's projected growth and now there's an impetus to bring in "outsiders" who know relevant practices that have developed, while the "low cost provider" lagged behind.
Stifling oppression from the "old guard" despite outdated technology and industry standards for basic operations. Internally rated "A" players try to make a stand against industry professionals with relevant points, however group-think exists and the "hitters" brought in end up being dismissed as ludicrous.
I flat out resigned without another job. My industry peers laugh at the hubris of the "people leaders" who merely accept the status quo. If you Vanguard is seeking to employ you as "outside talent to bridge the gap," please consider what I've said above. Also, if you aren't somebody who's a "yes person" on the whole, this corporate culture is not for you.
Answered Feb 14, 2018
How are the working hours at Vanguard?
Asked Jul 9, 2016
Depends on where you work within Vanguard, but for the most part the work/life balance is better than most.