Pros
Vanguard provides job security and great benefits. The company is very ethical, and they offer great products with good service. The company provides a good balance between you work and life.
Cons
Compensation is very low, which discourages going the "extra mile." More tenured, highly compensated employees, are entrenched in their roles, which creates ceilings for job advancements within some departments. If you are lucky to be promoted pay increases do not adequately compensate for the increased workload. In down markets promotions are almost always impossible. When openings become available, preference goes to those with similar pay grades, and not suitability. The company struggles from group think, that leads them to lack drive to create innovation. Management does not respond to criticism.