Pros: some great people to work with; decent benefits.
Cons: below average salaries; no raises/bonuses; layoffs, layoffs, layoffs; hard to move up; doing more with less; did i mention layoffs?
Speaking for Wealth Management business. After 8 years, the layoffs finally caught up with me. Company has been in downsizing mode for years and layoffs are a regular occurrence. But at the same time, they are hiring people? Go figure. Seems like they are churning the staff to bring in the people and form the teams the way they want. Company is going – more... through a lot of changes. People being asked to do more with less resources. A lot of good people going out the door, both on their own and by RIF. Very serious brain drain. No raises in years. Little to no bonuses in years. Reviews are a joke - they make no sense, and no one can really explain how they really work, except in corporate-speak. A lot of people got downgraded this year for no apparent reason. Seems like they are trying to drive some people out without having to lay them off. Then, if they don't go, they get laid off because they were deemed to be a weak link. Then they can bring in the people they really want. Decent benefits when they're not cutting back on them. Lots of technology outsourcing; developers brought in from consulting companies who have no business being there. Atmosphere being driven more and more by Type A overachievers. If you are part of an inner circle, you will go somewhere. If not, good luck - you'll be spinning your wheels. There are still lots of old Paine Weber people there who are fairly well entrenched and liked. Investment banking business has been re-morphing for years. No stability there while they try to figure out what they want to do with it. Don't know anything about Global Asset Management business, but my sense is they are not an industry leader. They generate the least amount of revenue for the company. – less