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Best places to work in money management

Legg Mason Global Asset Management

Legg Mason is a founding member of Together We Serve, an annual event that recognizes the 9/11 National Day of Service. Employees work on various community development projects in an East Baltimore neighborhood.

Fifth place, money managers with 500 to 999 employees

AUM: $745 billion

Employees: 766

Joseph Sullivan, CEO of Legg Mason (LM) Global Asset Management, says that it's critical for his company to adapt to a new generation of employees who expect more.

"We use inside (sales) trainers and cross-functional employee resource groups in order to work seamlessly across the company," said Mr. Sullivan, based in Baltimore.

The company has a comprehensive program to ensure that all employees are up to date on products, market position and the capital markets. It also encourages employees to spend at least 40 hours annually for learning through the firm's LM Develop U.

"Culture is built brick by brick," Mr. Sullivan said. "And we bring respect and care for our clients that comes through in our transparent and honest working environment."

This includes bringing employees with different backgrounds and perspectives together to create products, as well as working directly with clients and affiliates to craft customized investment solutions.

"Employees are given the opportunity to make decisions and grow from within," said one employee. "The pay is competitive and the benefits are top of the class. I have worked for Legg Mason many years and there isn't a day that goes by that I don't feel challenged or appreciated."

"(Legg Mason) very much pushes for an entrepreneurial spirit, and tends to reward those who take advantage of it," said another employee.

The company has recently expanded its parental leave benefit, with 12 weeks paid time off for primary and secondary caregivers (previously, secondary caregivers only received two weeks) and offers comprehensive LGBTQ benefits, including same-gender partner benefits and coverage for gender reassignment surgery, as well as a prescription savings program for pet owners. Through Environmental Engagement & Digitization Days, employees have many ways to contribute to Legg Mason's sustainability initiatives through programs like oyster gardening, corporate social responsibility councils and networks, and designated days to "go paperless."