I don’t work for TIAA and I never have. The company recently posted some jobs that align with my skills and experience and I’m considering applying. However, I stumbled upon this website and I’m having second thoughts. Unfortunately, it seems the company has lost sight of its purpose and has let DEI and other politicized agendas dictate its future. And its culture has seriously declined. That said, I’m sure there are still some positives that I’m not aware of. Any general guidance or advice as I consider applying?
18 replies (most recent on top)
Actually, you would probably do really well as a new hire and get a much higher salary, walking into the company than people who have been here for many many years doing three times the amount of work that they should be doing. However, you won’t make it here past two or three years because middle management su-ks. The leadership is self-absorbed and they sc--w with employees every single chance that they get so if you just want it on your résumé to show that you were at this company go ahead and go for it, but don’t expect to have any longevity.
Been here over 20 years and have seen it all. TIAA seems to be a great place of average or bad managers all over.
Struggled with micromanagers and careless ones as well as a very nit picky really bad one in my tenure. I did have a good manager for a year until they were let go. Had another really good one for almost 2 years until they left. The rest were arrogant, ignorant, or just average at best, until they fell in line with the rest…
Long story short unless the role is management with a minimum of $150k / year then stay far away from here.
Avoid working for Sara Bestowros in the Treasury area. She is a complete bi--h, will make your work life miserable.
Mind numbing work.
3 horrible managers in 7 years. The most demoralizing position I held in 30 years.
Commuting 1 hr plus to an office where I did not work with anyone, had no face to face interaction with anyone except the receptionist and woman who kept the coffee bar neat and clean.
You will spend your day going from one zoom call to the next with little or no time to get any real work done.
Pay and benefits excellent, but TIAA has constant layoffs, there is no long term future working there.
Take the job, contribute as much as you can to your 401K, and don't be surprised when they let you go.
The woman I worked for was a real a-hole.
Guaranteed 100% return…
Not a temu plant here. Passing on free money as a match is just a d-mb decision.
Wow. Last two comments must be temu plants.
There has been a freeze in raises for anyone at $100k or more though I’m sure raises for all upper management above a certain threshold. So OP be prepared for that.
Most associates are between 10-20% bonus. Dude that dust 140K and 35% was likely a director level with no reports and part of the waste problem here.
Not contributing makes sense if you live paycheck to paycheck. Obviously if you contribute you will be in the red and in get into debt.
Last but not least… it is sad to see employees struggle with retirement when the company moto is retire “inequality” or whatever.
I’d say look elsewhere OP unless if you desperately need a job.
Kind of curious how you are paycheck to paycheck working here. I was making $140k+ base and my bonus was 35%. I was able to max out my 401k by April. Not sure if there is major pay Inequality at TIAA.
Not contributing to your 401k , at least to the match level, is just craziness.
Adding to the last comment…
If you have a job, that gets you through life, even if paycheck to paycheck… do not apply here. Pay su-ks and minimal if any raises.
I have been here a long time and make decent money but I have never, not lived paycheck to paycheck while working here and know several others in the same boat. Contribute to my 401k? nope can’t afford to do that which su-ks because the match program is good. If they paid us our worth.
The bonus for me was the only saving grace each year, but lately it hasn’t been great. I’m going to have to get a second job within 6 months, just to get by.
Former TIAA, here. Got the boot in 2022 from Mickey O during her first year. How she was remotely qualified for that job is still a mystery too me. So it’s safe to say that I am super jaded to say the least. But here’s my advice, if you need a gig, go ahead and apply. The reality is that, yes, the company has some significant financial and cultural issues, but almost any company has these exact same issues at any given point in time.
Any paycheck is always better than no paycheck
Fortunately I'm recently retired from TIAA but joining TIAA today would be the equivalent of going to work for Sears or Kodak in 1999, perhaps Blockbuster Video just before the On Demand revolution. It's a dying company. Why you ask? When participants have a choice there choosing competitors. Contract exchanges more often go to Fidelity or Vanguard not the other way around. When participants retire or separate from service and rollover to IRA's it looks like Niagara Falls as those $$$ go to Charles Schwab and Fidelity. What do TIAA upper management never ever talk about "net NEW assets" because there isn't any.
Keep in mind most people only end up on this site if they are jaded or disgruntled.
Most important question, what is your Race, Gender or preferred pronouns?
TIAA/Nuveen are “holdover” jobs. Unless you need a job, don’t work here for the various reasons the other posters opined on.
Take this into consideration
- No raises even if you Exceed on your review
- Return to office 3 days per week
- Workload is always increasing. You will absorb the work when coworkers leave
- Work with consultants who do not have a vested interest. The # of consultants is increasing
- Outsource to the India team. I have not had a good experience with the India team
- Two large layoff rounds each year (April and October). You never feel secure with your job.
- Bonus structure has changed and I cannot imagine it changed to the employee's benefit
- The culture is poor. People were dinged on their performance if they were not cheerleading the culture script
- Constant management change
Avoid this dumpster fire company.
No but seriously… it really depends where you live. Charlotte or Dallas you’ll be ok - be sure you can commit to 3 if not 4 or 5 days in office as they are likely headed to 4 or 5 days soon. If you live anywhere else I’d avoid applying even to a fully remote role here.
Great benefits sure but the morale is very low unless you’re close to the top. Many folks that are below level 4 are struggling with morale, losing peers and gaining work, trying to move laterally without moving physically to a new site, or wanting out of the company. Not even gonna go into the lack of raises and smaller bonuses over the last few years.
Decent benefits and good work life balance.
Terrible, declining culture and declining company overall. Could it get better? Sure.
I’ve literally heard from high up execs about how this company is no longer profitable, and we will be selling off parts and outsourcing more to consulting firms and partnerships with other firms to be able to survive.
The truth is platforms like Vanguard and Fidelity will crush TIAA over time. It’s an inevitability, but it will take a long time. So while the company might not fail any time soon, it will be a slow, sad decline.