Best Places to Work in IT 2010 Employer Profile

No. 74

Commonwealth Financial Network

Waltham, Mass. [New England]

Why you want to work there

After three years on the job, employees at this financial services company in Waltham, Mass., are eligible to stay free of charge in vacation homes owned by Commonwealth's chairman. Options include two fully furnished ski condos in Sunday River, Maine, a high-end property in the Dominican Republic, two condos at the Ritz Carlton in Key Biscayne, Fla., and a private home on Cape Cod. Each employee is eligible to receive a year-end bonus based on the company's performance in these areas: service, net operating margin and revenue growth. Each employee also receives a merit increase. A peer-based recognition program was designed to celebrate individual and team achievements. Employees may receive monetary rewards at their managers' discretion, based on project work and performance. Room to grow: Professional development is important at Commonwealth. The company offers more than 150 courses throughout the year, covering subjects ranging from technology products to business and management skills, investment products and the financial services industry, and personal growth. The company also subsidizes part or all of the cost of attending professional conferences or taking various on-site and offsite classes. IT workers have pursued a range of professional development opportunities. Among other things, they have earned technical certifications, such as Microsoft Certified Desktop Support Technician, Cisco Certified Network Associate and Certified Usability Analyst, and they have taken general business courses, such as ESI International's Establishing a Business Mindset.

Rank by company size:
Small, No. 9

Employee Statistics

Total U.S.-based employees: 466

Total U.S.-based IT employees: 103

IT employee turnover in 2009: 8%

IT promotions in 2009: 5%


Training days offered per IT employee in 2009: 20

Training budget per IT employee in 2009: $4,500

Women in IT

Total percentage of women within IT: 27%

Percentage of IT managers who are women: 24%

Percentage of IT staffers (non-managers) who are women: 28%

Minorities in IT

Total percentage of minorities within IT: 17%

Percentage of IT managers who are minorities: 12%

Percentage of IT staffers (non-managers) who are minorities: 17%