Vault’s Verdict

We are family

Franklin Resources is a "great company with a solid reputation" and a "global company with a family-owned feel." The firm's "approach is somewhat conservative and controlling," but there's also "some autonomy" allowed, and "the corporate culture depends on what department and location you work in." Mostly, insiders report a "low-stress" atmosphere with "reasonable deadlines to meet." Still, one insider working out of one of the firm's Florida offices reports that "this location has recently reduced staff by nearly 50 percent," with "many jobs offshored to Canada and India." As a result, says the contact, "There are very few growth opportunities now."

Hours, on the other hand, are mostly "standard," and "there's not much overtime except for busy reporting periods." Busy parents are in luck, because "the company offers flexible schedules for employees who need to pick up kids from day care or that sort of thing." Dress is not stiff, either, generally adhering to a "business casual" code. Offices are "clean," "comfortable" and "accommodating, but far from luxurious," insiders report. And managers receive high marks. One contact calls management "better than most other places I have worked."

Middle of the pack

In terms of compensation, "Franklin is usually in the middle of the pack," says one contact. Although "chances are you can find a bigger number elsewhere," you should still "take into consideration the entire package." For example, "benefits and amenities are generous, and the stock purchase plan is top notch." One source working out of the San Mateo office reports a "gym, surprisingly good cafeteria and an employee care center." There are other perks too, such as a bonus, which is "up to 12 percent of your salary," says one insider. The company also "pays 90 percent of your health insurance premium," and Franklin "matches 50 percent of the first 6 percent of retirement plan contributions." As far as paid time off, "vacation time for new hires starts with three weeks," and while "there are no stock options for lower-level employees," "all employees can participate in the company stock purchase plan where you purchase company stock at a discount." Also, "tuition reimbursement is offered," but "only if the courses directly apply to the department you're currently working in." Initial training offered by the company is "very good," although "continuing education is mostly web-based."

No harm in trying harder

Franklin, on the whole, does "a very good job of hiring and promoting qualified applicants regardless of gender or ethnic background." Some note, however, that geography may have quite a bit to do with how hard the firm tries to diversify their workforce. "In South Florida, the company doesn't have to make a huge effort to recruit minorities," reports one insider. "The labor pool here includes people of many races and nationalities already, so they just have to hire the best person for the job." Women, however, "are represented at about average rates for corporate America," although "upper levels are still middle-aged, white men." And it sounds like no workplace is safe from a little bit of good old-fashioned nepotism. One source says, "It's not uncommon to find people who get in due to connections."

In general, though, people seem to be pretty content. "The company has been very good to me over the years," says one insider. "I feel very satisfied working for Franklin," reports another. And the future looks bright, too. "The overall business outlook for the company is great," reports one insider. "Franklin should weather just about any future inclement business climate quite well."