Lord Abbett & Co. Reviews

Updated 30 Jul 2020

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2.6
31%
Recommend to a Friend
63%
Approve of CEO
Lord Abbett & Co. President and CEO Douglas B. Sieg (no image)
Douglas B. Sieg
26 Ratings
Pros
Cons
  • "Lack of transparency from upper management(in 11 reviews)

  • "This hides visibility of highly talented technical people efforts to senior management(in 11 reviews)

More Pros and Cons
  1. "Sr. Data Analyst"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Lord Abbett & Co. full-time

    Pros

    Best place to work because of work culture and nice people around me

    Cons

    Commute is a problem because I dont have a car to commute

  2. "Private Company Changing Direction"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Technology in Jersey City, NJ
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Lord Abbett & Co. full-time for more than 10 years

    Pros

    Decent Benefits: - Unlimited Vacations - Good Work Life Balance - Free Healthcare The new CEO is finally cleaning house. The firm got rid of partners / directors who honestly didn't do much during my 10+ years here in the "Technology" organization. I can remember going 5 to 6 years here and never heard from the previous partners / directors. No one talked about strategy, goals, things to improve, etc. Every "team" was duplicating work, there was no communication, and there was a lack of standards. Partners and new directors are finally talking to employees, and new technology is being leveraged. I feel the company is getting better after my first 6 to 7 year here.

    Cons

    Benefits are good, but compensation is low for technology employees compared to other technology organizations. If you have a choice, it is better to go to Big Tech or hedge funds if you are looking for better tech compensation. The company only hires outsiders for promising new roles. The company is too small to have any relevant career opportunities. You have partners, directors, and then everyone else here. It is better to develop your experience and skills elsewhere, and then come here at a director level. The firm is trending younger in technology, which is great for the firm. Most of the long time employees have been overlooked with all these changes, but this is the nature of corporations. There is a lot more outsourcing now and the never ending search to cut costs like most non-technology companies. There is a new leadership position that was recently filled by someone not known to promote employee growth. Be careful with the employee surveys. They are not anonymous, even if they claim them to be.

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  3. Helpful (1)

    "Good company"

    5.0
    Current Employee - Manager in Houston, TX

    I have been working at Lord Abbett & Co. full-time

    Pros

    Good work life balance in the company

    Cons

    Not much i can think of currently

    Lord Abbett & Co. Response

    July 15, 2020Lord Abbett Team

    Thanks for taking the time to share your input. We value your feedback and are pleased to hear that our principles-based culture provides you with good work-life balance. Our people are our greatest strength. We’re always striving to improve, so when you have ideas, we encourage you to share them – either in your regular conversations with your leader or via humancapitalmanagement@lordabbett.com.

  4. Helpful (3)

    "firm going in good direction but big roadblocks, stragglers remain"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Investment Associate in Jersey City, NJ
    Neutral Outlook
    Approves of CEO

    I have been working at Lord Abbett & Co. full-time for more than 8 years

    Pros

    energetic managing partner with acute sense of goals and vision for the future. focused on turning around the company culture which has been awful in the last decade.

    Cons

    investments head doesn't vibe with new culture. not much of an ideas person and doesn't know how to bring out creative potential in others. narrow-mindedness is contagious. holding back the investment side from innovating and taking necessary risks which an active shop needs to do.

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  5. COVID-19
    Helpful (1)

    "Love it! Wouldn’t Want to Work Anywhere Else!"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Lord Abbett & Co. full-time for more than 10 years

    Pros

    At the firm for over 10 years, I have always loved working at Lord Abbett. A lot of positives. There are incredibly talented and dedicated people who work here who are passionate about what they do. People really care about other people here. There has always been a focus on putting our clients first, value of teamwork and being collaborative. It’s probably not right for everyone - excellence is a core value and standards are high (as they should be). Because of the size and structure of the firm you can have frequent interaction and exposure to senior leadership – as the partners actively manage different areas of the firm- and you can have opportunities to work on cross-functional projects outside of your regular responsibilities that you don't typically have at other/larger firms. It’s a high-performing and fast-paced culture. People who enjoy working in this type of environment develop and thrive. Our Managing Partner is a strong enthusiastic leader with vision and is accessible- highly visible around the firm, walking the floors, friendly, he makes it a point to get to know people across the firm at all levels. Interested in hearing feedback and in making so many positive changes at the firm. For example holding regular Town Halls to review results of our annual engagement survey feedback- and creating a culture where we not only work hard but can also have fun. (for the firm’s 90th anniversary employees were ferried to Ellis Island for a celebration including a live band). Changes since he took over include pushing down decision- making to other leaders (an issue in the past), a focus on following principles over rules, relaxing our previously formal business dress code, flattening levels of leadership, investing in training and development programs, supporting internal mobility at the firm, and improving technology. There is a genuine commitment to supporting diversity initiatives and strengthening support in our community. Most recently, handling of the pandemic has been amazing – Managing Partner holding weekly town halls with each area of the firm, communicating with transparency, ensuring that employees will continue to work remotely until it’s safe to return and assuring there would be no layoffs- something that is hard not to worry about in this environment. Also holding open and honest discussions at the firm including at a town hall which confronted and discussed the issue of racial inequality and social injustice. Benefits are great - include free health care and fitness center; free all day coffee bar and subsidized cafeteria (the quality of the food is excellent and there is a lot of variety including organic, healthy and vegetarian options); ability to work remotely; unlimited PTO; unlimited time to volunteer for firm sponsored Community Involvement activities at the firm; company paid subscriptions to Linkedin Learning and Headspace. HQ office – on the Hudson River in the Paulus Hook neighborhood with beautiful views of Manhattan. Nice neighborhood with a lot of great nearby restaurants within walking distance.

    Cons

    Nothing material. Some things that could be better and I believe are already being addressed- an updated/more modern office space and continued improvements to technology.

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    Lord Abbett & Co. Response

    June 30, 2020Lord Abbett Team

    Thanks for all the “love” – we’re glad you’re part of the Lord Abbett team! It’s great to hear, firsthand, about the positive impacts of our people, our processes, our culture, and our benefits. We’re always striving to improve, so we encourage you to maintain a regular, two-way dialogue with your leader to share your feedback. Or reach out to us at: humancapitalmanagement@lordabbett.com.

  6. Helpful (1)

    "Inspiring"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Analyst in Jersey City, NJ
    Recommends
    Positive Outlook

    I have been working at Lord Abbett & Co. full-time for more than a year

    Pros

    There are things at this company that exceed anything I've ever experienced before. I've worked full time for 25 years and this is the first company that I can honestly say I feel like a part of the team. Communication from leadership is amazing, starting with my immediate leader up to the Managing Partner. There is so much transparency about what is happening with the company that I truly understand the goals and what my role is in accomplishing them. Diversity and Inclusion is at the forefront of goals as is Employee Experience and Community Relations. There is a constant push to be better and do better, both as a firm and as individuals. It's impressive and inspiring.

    Cons

    None that I can think of.

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    Lord Abbett & Co. Response

    June 12, 2020Lord Abbett Team

    Thank you for taking the time to share your positive experience at Lord Abbett. We’re listening, and we value your input! We’re pleased that you’re inspired by our principles-based culture and are benefitting from our transparency, collaboration, and perseverance to achieve peak performance. Our transparency is deliberate. We communicate regularly, openly sharing insights to deepen understanding of the firm’s goals and to empower each person to make decisions and to excel. It’s great to learn firsthand the impact this is having on your experience and your ability to align with the firm’s goals. At Lord Abbett, we want everyone to dream big, work hard, and have fun! As responsible global corporate citizens, we’re committed to ethical behaviors that influence social change and sustainability. We’ll continue to engage colleagues in inclusive dialogue, embracing diverse perspectives to make a lasting impact for clients, our people, and our world at large. As you continue on your journey with us, we encourage you to share your feedback along the way: humancapitalmanagement@lordabbett.com.

  7. Helpful (1)

    "ok"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Financial Advisor 
    Doesn't Recommend

    I worked at Lord Abbett & Co. full-time for more than a year

    Pros

    there is Unlimited pto to employees

    Cons

    micromanagement is in full effect.

    Lord Abbett & Co. Response

    June 12, 2020Lord Abbett Team

    Thank you for sharing your viewpoint. Our people are our greatest strength. We’re listening, and we value input from current and former members of our team. We’re glad that you enjoyed our Flexible Time Off benefit. It’s one of the many facets of our principles-led culture that is rooted in flexibility and trust. As principles-led asset management firm, we encourage leaders to communicate regularly, while managing their teams in a manner that empowers every individual to make decisions. And through ongoing leadership training, we stress management best practices that focus on empowerment, empathy, and inclusion. Lastly, while members of our desk are FINRA licensed financial professionals, we do not classify them internally as Financial Advisors. We distribute through trusted Financial Advisors within the broker/dealer, bank, independent, and Registered Investment Advisor (RIA) communities. If there’s anything else you’d like to share with us, please reach out: humancapitalmanagement@lordabbett.com.

  8. Helpful (13)

    "Worst place I ever worked. Seriously awful and abusive."

    1.0
    • Career Opportunities
    Former Employee - Marketing in Jersey City, NJ
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Lord Abbett & Co. full-time

    Pros

    There are good restaurants nearby.

    Cons

    One way to tell it's bad: They've tacked the same generic response to every comment that others have posted here. They don't care. Overall nastiness from management, starting with the managing partner Doug Sieg and working its way downstream. Condescending, ultra obsequious. It took about three weeks to realize I had a made a mistake, and others came to similar conclusions about their own experience. I wish I could be more upbeat, but honestly I would never recommend that anyone ever work at Lord Abbett.

    Lord Abbett & Co. Response

    July 24, 2020Lord Abbett Team

    Thanks for taking the time to share your opinions. In the short time you were part of our team, it sounds like you may not have found Lord Abbett to be the right fit for you. Our shift to a principles-based, performance-oriented, and purpose-driven culture has provided greater levels of openness, inclusion, and trust, empowering decision-making at all levels of the firm. In fact, in our annual Global People Survey this year, 89% of our colleagues reported being “proud to work for Lord Abbett” and 80% responded favorably to the firm “treating people with respect and dignity as individuals.” We wish you well in your future endeavors. If there’s anything else you’d like to share with us, please reach out: humancapitalmanagement@lordabbett.com.

  9. Helpful (10)

    "Management micromanagement out of control"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Investments 
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Lord Abbett & Co. full-time

    Pros

    Good emphasis on mental health, smart colleagues

    Cons

    Management was micromanaging everyone to death. It became easier to do nothing, at least then you wouldn't get nitpicked a million different ways.

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    Lord Abbett & Co. Response

    May 15, 2020Lord Abbett Team

    Thank you for taking the time to share your perspective. Our people are our greatest strength, and we value input from current and former members of our team. Intellectual curiosity and a commitment to health and wellness are two hallmarks of our culture – we’re glad these have made a positive impression on your experience at Lord Abbett. Independent thinking drives our success and is underscored in our firm values. To encourage independent thinking, we prompt leaders to empower individuals on their teams to make decisions while maintaining a regular, two-way dialogue. And through leadership training, we stress management best practices that focus on empowerment, empathy, and inclusion. If there’s anything else you’d like to share with us, please reach out: humancapitalmanagement@lordabbett.com.

  10. Helpful (7)

    "Overall direction positive for firm, Investment Leadership is ruining that"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Investment Analyst in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Lord Abbett & Co. full-time

    Pros

    Firm has done a lot in the last 3 years to improve brand and work/life balance. Culture has improved to keep up with the times.

    Cons

    Leadership in Investments has handled recent crisis poorly. They use micromanagement as a crutch and has really hurt the overall investment process. This has to be fixed or more people will leave.

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    Lord Abbett & Co. Response

    May 5, 2020Lord Abbett Team

    Thank you for taking the time to share your perspective. Our people are our greatest strength, and we value your input. We’re pleased that your experience with our principles-based culture—which fosters greater flexibility and agility—has been favorable. Our leaders and their teams have successfully implemented remote work at scale to keep our people safe while maintaining continuity for our clients in the current environment. Leaders and outside experts alike have shared best practices on dimensions of leading through crisis including empathy, inclusion, and empowerment. We continue to encourage leaders to communicate regularly, while managing their teams in a manner that empowers every individual to make decisions. If you have additional feedback about how your leader is managing through the crisis, we strongly encourage you to engage with them in a two-way dialogue, or to please reach out to humancapitalmanagement@lordabbett.com for further support.

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