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I wonder what 20,000 Employees are doing there though. I know saying "I could do that with 10 people, what are they even doing" is a meme here, but I really can
by echoangle 2y ago
I wonder what 20,000 Employees are doing there though. I know saying "I could do that with 10 people, what are they even doing" is a meme here, but I really can't make a good guess what the employees are actually doing. Risk assessment, looking for new investment opportunities, regulatory paperwork, marketing? 20,000 is a lot of people.
- coldpie 2y agoOne way to get a hint at what kind of work employees do is by looking at open job postings: https://www.vanguardjobs.com/job-search-results https://www.vanguardjobs.com/job-search-results
- echoangle 2y agoNice link, thank you!
- lolc 2y agoI imagine they have actual customer service. But maybe I'm naive?
- echoangle 2y agoIn what situation would you contact them? Aren’t basically all possible problems you could have something you would contact your broker for?
- zerocrates 2y agoVanguard is also a broker.
- stearns 2y agoRight, you are hinting at the angle that other commenters have pointed at, which is that Vanguard runs a fund management business (which is what the article is about) but also runs a brokerage, does 401k/403b/529 administration, has an advisory business, etc. The total employee count refers to employees working across all those business units, and that includes a lot of customer service, regulatory, back office, etc.
- thehappypm 2y agoHow many people is ideal to look after $10,000,000,000,000 in assets? Some bloat is definitely necessary at these mind-boggling numbers, and assets-per-employee is still half a billion.