Ge-z reading all these posts it's clear there are a lot of s-xist pigs at the company. Many probably put on a nice exterior in the office as well but put a keyboard in front of them on this forum and you see what's really there.
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I guess we should smile more as we watch unqualified females repeatedly getting hired. I love looking at their LinkedIn profiles. No college, no corporate experience, you’re in. They turn down men with degrees and plenty of experience.
T. Rowe price didnt follow the trends back before '08- we were way under invested in AAA rated garbage mortgage backed securities. It was a point of pride that we went against the corporate flow and largely missed out on massive losses our competitors suffered. Compare that to the past 10 years where we fell for every single social corporate trend that turned off many investors, made long time senior people flee and caused dissension in lower ranks- ESG, DEI, Trans Month celebrations, etc etc. Meanwhile new products, lower fees, updating and streamlining business units etc fell to the wayside.
The whole McKinsey interlude that ended with Celine's brief tenure was pointless/net loss also.
Sad days for T. Rowe
@py the thing is, given the current job market, that is the best option for many, as the mine’s still open there, especially if you have family and children to support. Plus they still have some of the best benefits, I’ve ever had.
Stress from upper management and toxic environment is comparatively the “better” option than not making a means of living and the stress associated with that. Some will stick around to get paid out.
@py I say this in relation to your question, not the overall post topic, but job market isn’t particularly good right now. Imagine a lot of people would have left if it was possible to find anything. Been applying to positions since July out of preparedness for how things are going, but not getting responses to applications anymore despite having no issues in the past.
When I get on this site, I don't understand why most of the posters stay at TRP. People hate the management, hate inclusivity initiatives, etc. Why are you still here if the company is so bad?
@bw Whoever talked about 'AUM in the toilet'....er, AUM is at a record high. (Perhaps you mean flows?)
@bw RE: "Imagine what this company could be if they focused solely on their business."
They once did focus solely on their business and, specifically and most importantly, the clients. There is an old T. Rowe Price quote that they would show on the monitors in the various buildings (paraphrased): if we take care of our clients first, then our employees, then the business will take care of itself. That's a paraphrase of the original quote, but the sentiment and mission was clear.
The rise in social justice groups and initiatives at the firm started about 10 years ago, and then culminated with full-blown DEI in the last few years, which included "targets" for senior leader and senior level contributor roles to be held by "URMs". This seemed to peak at the beginning of the current CEO's tenure.
Was the company perfect back then? Not at all. But, it was a fantastic experience to have worked for an investment firm that genuinely valued it's clients and employees, and conducted business with high ethical standards.
Hopefully, the next leadership team will have the wisdom to refocus the firm and it's mission toward the founder's original vision, rebuild it's once great culture, and restore T. Rowe Price's performance and reputation within the investment management industry.
@bt I can’t believe the guy who just asked to be treated fairly, got so many down votes. I guess the next logical conclusion, is misandry run amok. What was not to like? I really want to know? There is a women’s brg, but, not a men’s. I could go on.
Also a healthy dose of "stranger-danger" exist. New hires are treated like the plague! But I suppose that won't be as big of a problem going forward...
@bt I'm a woman and agree - there is so much emphasis on demographics here, that depending on the group involved, there is either racism, s-xism, reverse racism, and reverse s-xism. Imagine what this company could be if they focused solely on their business. AUM would not be in the toilet, better decisions would be made, and morale wouldn't be where it is. Companies like them need to ditch DEI and somehow make the hiring process demo-blind so only the most skillful end up here. But then again, they are shipping every single job they can overseas to Make India Great Again so we are all really in the same boat.
I think we just want to be treated equally and given fair a chance for employment and advancement. It seems like you are ok with reverse s-xism. What’s up with the women only groups? I wonder what the ratio is for new hires? Let’s have 30 percent men in HR by 2028. That would be a positive start. 50 percent would be more equitable.