Lord Abbett & Co. Reviews

Updated Sep 29, 2021

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Found 183 of over 190 reviews

3.9
70%
Recommend to a Friend
88%
Approve of CEO
Lord Abbett & Co. President and CEO Douglas B. Sieg (no image)
Douglas B. Sieg
41 Ratings
Pros
  • "Good work life balance in the company(in 21 reviews)

  • "Good cafeteria, gym on site is very good(in 9 reviews)

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

  • "Lack of transparency from upper management(in 11 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.
    1. 5.0
      Current Employee

      Sr. Data Analyst

      May 12, 2018 - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      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

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    2. 4.0
      Current Employee

      Great place to work.

      Sep 29, 2021 - Advisor Consultant in Jersey City, NJ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great pay, comprehensive training & fun work environment.

      Cons

      Diversity & Inclusion efforts Office Politics Not a lot of upward mobility for those who don’t want to be a regional manager

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    3. 5.0
      Former Employee, more than 8 years

      SALES

      Sep 21, 2021 - Sales in Jersey City, NJ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Opportunity, Culture, people, leadership and pay

      Cons

      Lots of really hard work

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    4. 4.0
      Current Employee

      -

      Sep 5, 2021 - Administrative Assistant in Jersey City, NJ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Very understanding with personal Time off and vacation

      Cons

      Doesn’t pay what the employee is worth

      1 person found this review helpful
    5. 4.0
      Former Employee

      Growing company with improving culture

      Aug 14, 2021 - Analyst in Jersey City, NJ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Lord Abbett is a growing company in the active investment space and appears to make great efforts to grow not only in the US but also overseas. They focus on their product offerings and are strategic, unlike some firms that offer too many funds and products and create new products just for the sake of creating. Work is overall meaningful though like many investment firms, the technology can be a bit slow or outdated. At least on the investment side where I sat, I believe that there are efforts to transition to more modern technology and improve inefficient processes. However, like any effort to transition, this process is slow and benefits may not be realized immediately. Culture has been improving since the new managing director assumed his role. Because the company is not as large as some of its competitors, it still has a small company feel, especially within the investments side. The company has put in place many good changes such as greater employee recognition and awards and more structured mid-term and year end reviews where we actually set real goals for ourselves and the team. Managing the firm during COVID is a challenge for all CEOs but Doug, the managing partner, has done a great job with weekly town halls, interesting speaker series that sometimes promote diversity initiatives or address current events, company wide wellness events, and a greater focus on mental health. During COVID, wfh policies are still in place and no one is forced to go to the office. Free lunch on Wednesdays (at least during COVID and before I left) All of this makes workers think that the firm cares about you. Business Resource Groups/Diversity Groups such as Women, LGBTQ, Black, Asian groups etc were not that active during COVID but tried to host speaker series or events during important months such as Black History Month, Asian American Heritage Month, Women's Month etc. Is the traditional finance culture still there? Yes, and even though it never bothered me as much, I think this firm is making changes in the right direction even if it annoys some people (especially those who don't subscribe to liberal thinking - there are certainly a lot of diversity and culture initiatives). Still, there aren't that many women, especially at the more senior level. People tend to have more experience and teams are relatively lean. There aren't many junior, young employees because the firm doesn't really have an annual internship program. Career wise - I was still a relatively junior employee when I left this year so I am not sure what the career trajectory would be like. It seems like they have created more ranks such as an MD position (right before Partner I believe) so is the firm become more hierarchical? I would also say in Investments, rank depends on which team as fixed income and equities and teams within these broad categories have different corporate ladders. It does seem like a place that is good for anyone who wants to stay long term or retire. Most people here have been with the firm for a long time whether that is because they really like their experience, stay for the good benefits, have difficulty moving to other positions or companies (I'm also not sure how recognizable the firm's name is in the industry), or some other reason but whatever it is, people stay for a long time. Benefits- I think the firm has great healthcare benefits. The high deductible healthcare plan that comes with an HSA has premiums fully paid for by the firm and the firm contributes $2000 yearly to your HSA. Employer 401k matching is up to 7.5% with vesting over 3 years. Gym is good and there is in-house cafeteria with affordable lunch options. The surrounding areas near the office don't have a lot of diverse food. It's mostly American style food such as sandwiches, salads, pizza, Italian food, bowls etc

      Cons

      Not many cons I can think of. I'm speaking generally here as none of these cons really applied to/bothered me. If you are looking for a career in proper New York, this isn't it because it is in Jersey City. Even though the company is located right on the Hudson River and you get a beautiful view of Manhattan steps outside the front door, you still have to commute over... and decide if you want to live in New York or New Jersey. The firm has no plans to move to New York at all so don't expect to one day relocate to a NYC office. I cannot comment on salary or pay as I am not certain what industry standards are like. One additional thing is that if you want to switch careers, especially in investments, it can be difficult. Perhaps this is owing to the fact that the firm is lean and doesn't have many junior level positions open every year. Certainly, there are people from the client services/sales desk who moved to investments side but it's not common. Also, within investments, it appears to be difficult to move between asset classes. Firm is also based in the US (really just New Jersey) and does not have major investment offices outside the US so if you are looking for international collaboration or exposure, you won't find it here. Like most firms predominantly based in the US, culture is very American-centric so yes, there are biases.

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    6. 4.0
      Current Employee

      Great Place, Low Pay

      Aug 10, 2021 - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great place; everyone's nice, unlimited vacation, free lunch Wednesdays. They tend to care about you and have been very flexible throughout COVID

      Cons

      Pay significantly under the industry. When asked, they deny and or ignore. For a place that wants to be "best place to work in asset management," it seems they're gunning for turnover. And Jersey City is annoying.

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    7. 5.0
      Current Employee

      Non I. Will not

      Jul 9, 2021 - Advisor Consultant in New York, NY
      Recommend
      CEO Approval
      Business Outlook

      Pros

      this is a solid comopay

      Cons

      Solid firm to work at

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    8. 4.0
      Current Employee, more than 5 years

      Good Place To work

      Jul 8, 2021 - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Friendly environment and stable job

      Cons

      Lake of innovation company cab be more innovative

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    9. 5.0
      Current Employee

      Great Growing Firm

      Jun 9, 2021 - Regional Manager in Jersey City, NJ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      - Small enough Firm to get to know management well - A place you can have a career if you work hard - Culture has improved even more over the last few years with our most recent Managing Partner - The Advisor Consultant Role is a great entry role for those wanting to break into the financial services industry

      Cons

      - Although diversity and inclusion has improved a lot over the last few years, executive management still lacks diversity (problem with the industry as a whole).. we are progressing in that aspect though - It has become significantly more challenging to become Partner

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    10. 4.0
      Current Employee

      Nice

      May 26, 2021 - Senior Software Engineer in Jersey City, NJ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      great leadership, supportive team, good culture, good work life balance

      Cons

      not many options for career growth

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