Thoughts on joining Vanguard in a full time role? Preference between Malvern or Dallas location? Does being at the home office (Malvern) help with career trajectory? Any concerns with stagnation in roles/pay over the long term?
Unsure what level I would come in at here, but other firms would be at the VP level. So don't know what that would mean for PTO or bonus, etc.
Vanguard
Join vanguard for the benefits, stay to vest, and pray for better comp.
Malvern is HQ, most jobs and functions are at least partially performed there. In best interest to work there but they’re cracking down on hybrid (3x / week) in office schedule. Exceptions for IT roles and really niche , hard to find performers.
A VP role here may translate better, a lot of external mid managers roles end up with demoted titles. (Directors —> managers: managers—> analysts)
Pay maybe good to start. Usually a sign on bonus for specialist roles. Vanguard offers two bonuses per year, and may end up equating to about 20-25% of total comp, even higher for higher titles.
Merit raises are often capped and will sometimes be lower than inflation . 2-3% is the norm. Promotions are capped at 7%. Even elite performers will find compensation to be capped, especially true if budget is limited for promotions, and you’re on the higher end of your job code scale.
Culturally. It’s wide ranging depending on which department you’re in. Some departments are less accepting of outside opinions. Others, some say it’s the best they’ve ever had. Most people fall somewhere in the middle.
Most groups to be promoted it demands politicking, if you’re not good at it. Stay away. As a VP, you may find this to be a non issue, for others it can set people back from ever moving up.
Comp can vary widely, but PTO to start will likely be 23 days. Takes a while to get more. Managers are generally flexible with this, and depending on your org, honors system for using your days . Can rollover 5 days per year, use by 3/1
Vanguard 1 is guiding you well. What I will add is VG is decent with your initial salary, but once you're in, salary growth is limited compared to other places. They'll keep you with ther other benefits that you'll get used to and find hard to replace (generous pto, super generous 401k matching, HSA matching, etc) Be warned, your salary growth also has almost nothing to do with your actual performance but is mostly based on how you are viewed. As Vaguard 1 alluded, this can be difficult for external high performers to adapt to and is the largest cause of turnover in the senior leadership ranks. If you want to be rewarded for high achievement or if you would scoff at having to work with others who are rewarded, promoted, and lauded for subpar performance, then approach with caution. As for Dallas versus Malvern, there is no contest. If you want to grow in the company or have equal footing in your interactions with others, you'll only get that working from Malvern.
I haven't heard anything positive about Vanguard even though I am a customer. My friend works at the Malvern location but doesn't have anything positive to say.
It really depends on what you want out of it and job function. They generally pay less for people who want better WLB. The tech and investment in their own tech remains an issue. They’ve had some missteps in going global, but generally still performing fairly well. I would seek employment elsewhere if you’re type A and are in front office, there are more profitable ventures out there. And the company tends to promote from within too slowly.
Who knows a new CEO, still TBD, could really change things around. They’re considering external candidates which is a first
VP is a term Vanguard doesn't throw around lightly. They thrive on underpaying their employees.
Well VP at Wall street firms is like a normal Senior SWE at a tech co. Here at Vanguard it's more like a App engineer 3-4, or Tech Lead , but still "VP" is over used on wall street