Pros
Vanguard is a place where hard work is rewarded and professional growth is strongly encouraged. Overall compensation (pay/benefits) do not get much better. Training is above average to very good. Vanguard holds itself to very high standards and generally meets or exceeds all of these standards.
Cons
Base salary is not great but the partnership program and benefits more than make up for this. Depending on the business area, training may leave something to be desired but improvements are constantly being made. Employees are not reprimanded as long as they do nothing "wrong" even if they are detrimental to morale. It seems as though some members of management may give into those who are detrimental to morale in the interest of avoiding conflict.