Vanguard Employee Benefits Review: Why Vanguard Could Be a Great Employment Option

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Vanguard Employee Benefits Review: Why Vanguard Could Be a Great Employment Option

Vanguard is an American-based investment advisor. It is headquartered in Malvern, Pennsylvania and has about 16,000 employees. Vanguard’s employee benefits, such as the savings plan, are among the best in the industry.

Vanguard’s key products include mutual funds, asset management, exchange-traded funds, and a broker. It currently has more than $5.3 trillion worth of assets under management.

Founded in 1975, Vanguard is the world’s largest mutual funds provider and the second-largest exchange-traded funds provider.

Vanguard Employee Benefits Team

John James – Chief Human Resources Officer & MD Human Resources Division

John James – Chief Human Resources Officer & MD Human Resources Division

Mr. John James joined Vanguard in 2008 as Head of Sales. He was promoted to his current position at the company in 2017. James is responsible for leadership, talent, and company culture.

Before assuming his current office, he also worked with Vanguard’s Financial Advisor Services Division and managed Australian operations.

Mr. James received his MBA from the University of Adelaide, Australia.

Find John James on:


What are Vanguard’s Employee Benefits?

The following are the major benefits offered at Vanguard:

Employee BenefitsDescription
Health InsuranceMultiple plan options are offered. The plan is administered through Aetna.
Dental CoverageDental coverage is offered through Delta Dental. Employees can choose between Standard and Enhanced plans. You can save money on in-network dentists.
Vision CoverageVision coverage is provided through VSP.
Prescription Drug CoverageYou can get coverage at a lower cost or fully covered.
401 (k) PlanVanguard automatically makes contributions equivalent to 10% of your salary every quarter. You also get a company match up to 4%.
Retiree Medical BenefitsAfter you turn 40, you get credited $5,500 each year in your Retiree Medical Account. You get access to the account upon retirement. RMA can be used for reimbursement up to 75% of your post-tax healthcare premiums paid by you.
Paid Time OffPTO starts at 18 days and you can work your way up to 31 days.
Maternity LeaveBirthing mothers get up to 16 weeks of paid maternity leave. Non-birthing parents can get up to 6 weeks of paid paternal leave.
Disability CoverageShort-term and long-term disability coverage is available.
Additional LeavesYou also get paid bereavement leave, jury duty, family care, and medical leave.
Vehicle DiscountsEmployees get special discounts on purchasing vehicles through Volkswagen Supplier Purchase Program.
Student Loan Repayment Student loan repayment support is offered at Vanguard.
Education AssistanceEducation assistance is offered to you and your dependents through different scholarship programs.
Life InsuranceLife insurance up to 2 times your salary is available. You can choose between two options, one with an upper limit of $1 million and the second with an upper limit of $50,000.
Dependent BenefitsYou can have different types of coverage for your dependents through FSA and other types of plans.
Fitness ProgramsEmployees can enroll in different types of fitness programs including weight loss, trailing, and services provided by the Wellness Center.

What Employee Benefits is Vanguard Known for?

Vanguard offers some of the most extensive employee benefits in the industry. From financial support to the physical and mental wellbeing of employees, Vanguard’s employee benefits provide all the necessary coverage.

Some of the most well-known employee benefits at Vanguard are as follows:

  • Health insurance.
  • 401(k) match up to 4%.
  • Quarterly automatic company 401(k) contribution equivalent to 10% of your salary.
  • Up to 31 days of PTO.
  • Up to 16 weeks of maternity leave.
  • Student loan repayment support.
  • Vehicle discounts.
  • Retiree medical benefits.

The health benefits are very comprehensive. The basic coverage is provided through Aetna. You also get Dental, Vision, and prescription drug coverage. Besides the major benefits, you also get access to fitness programs and support for health management.

Another popular benefit at Vanguard is the PTO policy. It starts with a generous 18 days and employees can work their way up to 31 days. New hires have to complete at least a year of service before getting their 18 days of PTO. You also get other types of paid leave including court duty leave, military leave, medical leave, bereavement leave, and family care leave.

Employees can also get maternity leave. Birthing mothers can get up to 16 weeks of maternity leave by adding their short-term disability coverage to their basic 6 weeks of parental leave.

The 401(k) savings plan is also one of the most popular benefits at Vanguard and one of the best in the industry. Employees’ most favorite perk is the automatic quarterly company contribution to their account which is equivalent to 10% of their salaries. Besides this, you also get a match of up to 4%.

In addition to employees’ benefits, Vanguard also offers dependent care benefits through FSAs and spousal life insurance.

All of these benefits have been quite rewarding for Vanguard, as the company enjoys a good employee retention rate and high employee experience ratings.

How does Vanguard Help with Student Loans?

Vanguard is one of the 4% American employers that offer student loan support. The company pays a monthly $100 to the eligible employee’s student debt provider. The maximum limit goes up to $7,200 for each employee. Vanguard also offers tuition reimbursement.

Employees get a total of $9,000 per year for education assistance, which can be divided between student loan support and tuition reimbursement.

As a result of its student loan benefits program, Vanguard has always been able to attract the best talent across the country, which is a big reward. Many corporations also recognize the importance of offering student loan repayment benefits and therefore, plan on adding the program to their employee reward package.

One of the best ways to implement the student loan program is through FutureFuel. It is a student loan management system that allows both employers and employees to manage the benefits program efficiently. The platform also allows monetary transactions that are completely encrypted. For employees, FutureFuel is the most efficient and one of the fastest ways to pay back their student loans.

How do Vanguard’s Benefits Change for Different Jobs?

Vanguard offers benefits that ensure employee engagement and keep employee morale high. However, there are a few factors that can determine how much access you, as an employee, can get to these benefits. These factors are as follows:

  • Part-time and full-time employees do not get the same benefits. The cost of insurance plans such as healthcare and life insurance is likely to be different.
  • New hires do not have access to all the benefits.
  • 18 days of PTO are available only for employees who have completed at least a year with the company.
  • 16 weeks of maternity leave is available to employees (birthing mothers) who have short-term disability coverage, otherwise, you get the standard 6 weeks.
  • Benefits vary with state policies.

How Has Vanguard Improved its Benefits Package Over Time?

Vanguard was founded in 1975 and the company, to this day, is going strong. One of the main factors responsible for its success is the employee retention rate. Vanguard invests time to train its employees and then most of them stay. Why do employees stay with a company? Mainly because of the compensation and benefits they get.

Vanguard has always tried to offer the most competitive benefits to its employees. Here are a few examples:

  • Despite the rising expenses everywhere, the company has kept its insurance cost as affordable as possible.
  • The savings plan has gotten better with time. Employees, in addition to a match up to 4%, also get automatic quarterly contributions equivalent to 10% of their salary.
  • Some benefits get better as you complete more years of employment at Vanguard. For example, your PTO accrues over time.

With updating and introduction of new incentives, Vanguard regularly keeps improving its benefits package.

Are Vanguard Careers Worth It?

Vanguard is a reputable employer in the industry. Any work experience with the company is not only considered valuable but it can also lead to new career opportunities for you. Moreover, the company offers a good work-life balance as well, which is important for your personal and mental wellbeing.

Here are a few factors that make Vanguard careers worth it:

  • The monetary benefits such as healthcare, dependent care, life insurance provide financial relief to employees.
  • Benefits like PTO and maternity leave allow you to create a good work-life balance.
  • The biggest financial support is through student loan debt repayment benefits. With constant help coming from your employer, you can manage your finance better and save more for the future.
  • The savings plan is excellent. Thanks to the company’s contributions you can save a lot for your post-employment life.
  • Education benefits allow you to continue your studies and improve your industry knowledge and skill set.

Discover Vanguard Jobs and Careers

You can follow the following websites to stay up-to-date with all the latest job openings at Vanguard.

Vanguard Careers

The official Careers page of Vanguard is quite comprehensive. You can find detailed information about the company’s work culture. The search bar will allow you to look for specific jobs but if you want to explore all the available jobs you can search through all the listings.

Vanguard Glassdoor

You can find more than 700 Vanguard jobs on Glassdoor. Each listing has complete details about the job. Glassdoor also has a very useful employee reviews section, which will help you understand the company’s work culture better. You can also compare salaries for different jobs at Vanguard.

Vanguard Indeed

Indeed contains more than 1,500 job vacancies from all locations. You can click on each job to see all the related details. Like Glassdoor, Indeed also has employee reviews. Another useful feature is the Q&A section that gives you a clear idea about how employees are treated at the company and what should you expect in terms of workload and compensation.

Vanguard LinkedIn

LinkedIn has more than 7,000 job listings. The website is very organized and will make your job search easier through its search feature. LinkedIn also gives you the option to submit your job application directly on the Vanguard website.



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