Putnam Sucks Customer Reviews and Feedback
Putnam Investments is a privately owned investment management firm founded in 1937 by George Putnam, who established one of the first balanced mutual funds, The George Putnam Fund of Boston. As one of the oldest mutual fund complexes in the United States, Putnam has over $183 billion in assets under management, individual mutual fund offerings, 96 institutional clients, and over seven million shareholders and retirement plan participants.
A former employee said in a review: "Management in Putnam was the worst thing I’ve ever seen. The manager didn’t work on site and only called to yell at you. She had other employees spy on you and report back to her."
Current Employee - Anonymous Employee says"I have been working at Putnam Investments part-time for less than a year Cons: Dated business practices and technology. Definitely not a “warm” or welcoming culture."
Former Employee - Anonymous Employee says"I worked at Putnam Investments full-time for more than a year Cons: Stay away from this place… long-tenured (read: lifer) management brings in contractors to get their work done. Typical, yes, but it’s as bad as I’ve seen. Business groups are pitted against each other for management’s political maneuvering; it’s all a spin cycle with no forward progress. Then it’s rinse and repeat with a new group of consultants and contractors."
Current Employee - Investor Services Representative says"I have been working at Putnam Investments full-time for less than a year Cons: Zero room for advancement Compensation is an the lowest in the industry you basically have to teach yourself everything(no assistance from supervisors) impossible to use vacation days when you want"
Former Employee - Tax Accountant says"I worked at Putnam Investments full-time for more than a year Cons: I worked there for a couple of years and I was treated unfairly. The managers and supervisors set their employees up for failure and constantly belittle them. There is a public shaming review sheet on all of the tasks you do. These review sheets contain horrific comments called points and these points prevent you from receiving a 2% raise and or a $1,000 bonus, which is still not worth it after the amount of stress the Managers and supervisors put you through. The managers and supervisors will also make up false points if you have nothing wrong on your tasks that you pass in. Also other departments work with the tax department and they can see the horrible comments that these supervisors and managers give to their staff. You will spend countless hours struggling to figure out how to prepare a fiscal provision or a tax form on your own without guidance. They will tell you that there is a lot of room for growth inside the tax department but this is only to bring you in. The turnover rate is very high and one will find out after they have worked there for a few months."
Former Employee - Anonymous Employee says"I worked at Putnam Investments full-time for more than 10 years Cons: Declining active management fees, shift of assets to passive management and declining budgets have made it difficult for Putnam to compete with the mega asset managers with10x. Little to no career counseling or, mentorship with an accelerating exodus in executive, senior & mid management ranks. Ever declining budgets have prevented salary growth or, training opportunities."
Former Employee - Anonymous Employee says"I worked at Putnam Investments full-time for more than 10 years Cons: Worst work conditions than any place I had ever worked. Company had terrible computers and poor systems but blamed employees for poor systems. Had management and supervisors that could not motivate a hungry dog to eat. Investment company only cares about their money-not their clients money."
Former Employee - Internal Wholesaler says"I worked at Putnam Investments full-time for more than 3 years Cons: Hostile, old school motivation style of constant ball busting and negativity from the highest levels of management all the way down."
says"I worked at Putnam Investments for more than 5 years Cons: Very bad work environment. They treat you like a child. For example you have 10 minutes a day to go to the bathroom total outside of lunch. You can't go over the 10 minutes or you get put on warning if you do it a few times. If you're more than 2 minutes late for work or back from lunch (literally) they put you on warning to get fired, that's if you do it more than 6 times total in 6 months. There is no work life balance at all. If you need to go to the drs you need to get the day off, if you can get it. People who have worked there the longest get the first pick of days off. Which means you will never get anything but a Wednesday off. They record everything you do and then critique you on it. I can tell you I was a top performer my whole time there, the entire time, and it was still really bad. They barely pay you and the benefits have become really bad. One time they took me in an office and said that my capris were 1 inch too high above my ankle. You can't speak up either about anything."
Former Employee - Anonymous Employee says"I worked at Putnam Investments full-time Cons: top-heavy management, lots of dissent among management, direction not clear and priorities seemingly changing daily, poor advance planning and lack of clear communication"
says"I have been working at Putnam Investments Cons: culture needs work as does business"
Chris A says"Putnamns site gives you the impression they actually care for you, the customer. But they do not. They give you the impression ON their site they are open to be contacted with for questions or any special demands. But it is nothing but a front to look good. I mean ofcourse they would, it is the first thing you see when you go to their site so obviously they want you to think they care. They got a system where you can send in questions. They got an email linked where you can send in questions. I tried contacting them on both. THREE times infact. Here I am, 2-3 months later and I have STILL not heard from them."