Five years ago FactSet was a great place to work. The problem with a young workforce is they never saw a recession. Now everyone is scared for their jobs and their is backstabbing left and right.
With the Economy going bad, costs are being cut. People are disappearing left and right, but slowly, maybe one person a week. The problem seems to be some of these people were hard working, but made too much. A decent company gives people a severance package layoff. But by avoiding a " layoff" and doing something gradual, these people are not being given anything.
Benefits are also being cut. I noticed managers of 10 yrs having their blackberry being taken away. The blackberry increases productivity. Home internet (since many people work from home after leaving) is also no longer reimbursed. Cutting costs is a good thing, but not when you are cutting productivity with it.
Consulting and sales are being hit hard. Engineering and development are being spared.
Another problem is the FactSet way is to promote internally (which is good in moderation). The problem is this does not hold for all positions which require education and skills. I have noticed people one year out of college being promoted to very analytical positions to replace people who made too much. In the past, a client used to ask the consultants/specialist (who were experienced) questions. Now it seems the consultants/specialist are so new they are the ones asking the questions. What's scary is after a few years these people will probably be replaced themselves.
As the previous poster said, there's little of a career path. You may get a higher title and a little bit more money, but that's it. You are told to put in your time and be patient. But that's just to keep you there. When you are in your 30s and 40s and unemployed you better have done something during your time at FactSet (CFA, MBA?). Otherwise you will be wondering why you didn't take the job at Ernst & Young or Goldman Sachs like your friend out of college.