Commonwealth Financial Network reviews

When I first started at Commonwealth the company would win top 25 places to work in Boston. As my time went on the focus shifted from caring about employees to the bottom line. Wayne Bloom is your stereotypical 1% CEO, he will look you square in the face and tell he cares then make a decision based on the bottom line. When the company decided it was time to go back to the office Wayne held an all company meeting, when questions started coming in (that he didn’t like) you could tell he was visibly angered and quite frankly couldn’t control his emotion. Since that meeting (months ago) Wayne has not addressed our staff or provided an update on the current state of the pandemic . Commonwealth has two main offices one in Boston and the other in California and employees are treated much differently ( California has more employee center labor laws). In California things are more laid back, there’s less accountability, and more flexibility in your schedule. In Waltham be prepared for your manager to break out the rule book. Furthermore, the company struggles with technology. Be prepared for constant break downs and outages. The company will expect you to explain these to our advisor field. The pay is competitive but not great and the company no longer focuses on the employee experience. I’d recommend finding a company that cares more about hour employees. If you want to sell your soul work for CFN. Not remote work friendly.

Pay is notoriously lower than average by about 20%, they try to reel you in with this promise of an annual bonus of 20% to make up the difference then when it comes out much lower they are nothing but excuses. They started capping the bonus at 80% of the pool without notifying employees of the reduction. They constantly change HR policies like PTO and stock options last minute without notifying employees until it's too late. Perks vary by department, the company says you can work from home but many managers don't allow it. They like to hire family and friends so it turns into a weird cult-like culture. Even management jokes about drinking the Commonwealth Koolaid... It's a good place if you're looking to skate by but not if you're trying to move up as you'll have a lot of politics to work through. They also really lay it on thick when bad mouthing ex-employees which is distasteful. They recently laid off an entire department without providing much assistance to employees who have worked here for many years and bad mouthed them when they were gone.