Promontory Financial Group Reviews

Everything else. Employees typically have no say over what projects they are assigned to and no ability to transfer between projects. Little effort is made to match projects with one's interests, skills, or career development goals. Career advancement is very difficult and extremely political. New incentive policies for senior managers disincentivize investing in or promoting junior team members. Many junior employees end up leaving bitter after promised promotions do not materialize. Several employees have been summarily fired because of minor disputes with managers. Pay used to be quite competitive across the board. Over the past year bonuses have been significantly slashed. Note the dates of other reviews praising compensation levels. Management has informed infrastructure and junior staff that they are overpaid and that compensation will be aligned more to commodity levels going forward. Profitability is down and expenses are soaring due to rapid and poorly executed expansion into new areas and high legal and PR expenses. The most glaring problem is the thick layer of semi-retired senior regulators at the MD level who do little beyond fighting with each other yet enjoy astronomical pay packages. As widely reported in the media, the firm recently paid a large fine to settle an inquiry into past failings. All of this has taken a toll on the firm's morale, reputation and business development efforts. Turnover is high and increasing.

+The work environment is toxic. There are some very bad apples here, particularly at the Director level. On several occasions, clients have had to intervene on behalf of junior employees being verbally abused by Directors at a client site. +Employees don’t even bother going to our internal HR anymore as HR couldn’t care or do less about even the most egregious conduct. +The recent positive reviews are clearly fake. Instead of addressing issues, management or HR has resorted to writing fake reviews. Read them and judge for yourself. This is representative of the firm’s ethics and approach to "addressing" issues. +Nepotism is rampant. There has been many complaints about this, which I thought would lead to reforms. However, it seems all the complaints lead to was more senior people asking for favors for their relatives. +The firm is poorly managed across the board. There are way too many senior people for the amount of work we have, yet we keep hiring more. All despite never-ending cuts to existing employee bonuses and pay. +Some MDs are way too fond of the young females hires. +It can’t be emphasized enough how sharply pay has declined in recent years. "industry leading to industry joke" is the joke. +Some teams send employees overseas for months at a time on a few days notice, without regard to personal constraints or preferences. When the firm is covering travel expenses, you’ll be chewed out and threatened with termination if you even spend half of what is supposedly permitted under company policy. +Bonus disparity is massive and completely lacks any relationship to merit, tenure, or level. +Management is very dishonest. Willingness to lie to anyone about anything at anytime seems to be the only perquisite for a managerial role at PFG. +When it comes to pay and promotions, believe NOTHING your manager tells you. Absolutely nothing. These decisions are the practices group's, not HR's. Don't let them convince you otherwise and hold them accountable to at least explain the situation if you are unhappy.