Chicago Board Options Exchange

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Chicago Board Options Exchange Reviews

39 Reviews
2.7
39 Reviews
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Chicago Board Options Exchange Chairman and CEO Bill Brodsky
Bill Brodsky
18 Ratings

5 Employee Reviews Back to all reviews

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  1. 4 people found this helpful  

    Not A Place For Lifetime Career

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investigator  in  Chicago, IL
    Former Employee - Investigator in Chicago, IL

    I worked at Chicago Board Options Exchange full-time

    Pros

    * Decent work-life balance. Never had to put in overtime (which full time exempt employees wouldn't get paid for anyway) to get additional work done.
    * Fair entry job to get started in the securities regulation industry. But not the type of place where a lifetime career should be considered.

    Cons

    * Inefficiency in department operation in terms of how work products are analyzed, processed, etc.
    * Poor overall compensation (base pay, bonus, other incentives, etc.) that is quite below the market value for the similar type of position in the industry. This seems to be due to the fact that CBOE went down the path of quantity over quality when they decided to expand its department (general consensus amongst employees (current and former) at CBOE). Also, because of this method of personnel management, employees do not feel valued whatsoever; many feel that they are treated as disposable individuals rather than invaluable assets that can make a difference at work.
    * Department seems to lack accountability. Most of the times, people do not seem to have the desire to take responsibility for their actions.
    * Severe lack of clarity in the criteria for merit, promotion, etc.
    * Absurd level of "training" that hasn't seemed to provide much benefit to the employees' day-to-day activities at work (general consensus amongst employees (current and former) at CBOE). It feels like these trainings are held simply to fill in the number of required hours. Training should strictly be about things that are pertinent to what their teams respectively do.

    Advice to ManagementAdvice

    Just by looking at the Cons, it should be evident enough on what Management should consider. A lot of the Cons noted are the voices of the majority at CBOE. But the problem is nobody wants to even bother listening. A company that seriously cannot listen to the concerns of its employees do not have a bright long-term future; this applies to any type of company.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 2 people found this helpful  

    Old company with management that is still stuck in the paper and pen technology era.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL

    I worked at Chicago Board Options Exchange full-time for more than a year

    Pros

    Co-workers were good people, Liked chicago. Good food in the surrounding area. Prestigious until you pull back the curtain. Decent benefits but not the best.

    Cons

    Conservative Technologically, for a company that is 99% web based now. (very little in person trading going on) Spaghetti for code because they use too many contractors and nobody knows an upper level view of how the trading platform interacts. They actually were unable to remove features from the code because nobody was able to make heads or tails of where to even start removing the code. One big mess, not using any logical structure to the platform. Tech directors hired from old boy network, with no experience in IT. Paper pushers have less operational knowledge of platform than subordinates. Very little opportunity for advancement or autonomy.

    Advice to ManagementAdvice

    Try hiring tech directors with IT experience.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3. 2 people found this helpful  

    Engineer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Engineer  in  Chicago, IL
    Current Employee - Engineer in Chicago, IL

    I have been working at Chicago Board Options Exchange full-time for more than 10 years

    Pros

    Pay is good. Location is good.

    Cons

    Some management levels do not have a proper training to understand how to be a good manager.

    Advice to ManagementAdvice

    Go to a class to learn how to be a good manager.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
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  5.  

    Great financial company to work for.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Programmer Analyst  in  Chicago, IL
    Current Employee - Programmer Analyst in Chicago, IL

    I have been working at Chicago Board Options Exchange

    Pros

    Privately owned corporation. Very flexible with hours and work day-to-day tasks. No micromanaging of employees. Tasks are very straightforward and relatively easy to accomplish.

    Cons

    Tasks can be very repetitive and mundane. Not much interaction with direct manager (good or bad). Expectations of role are not clearly defined. Sharing of knowledge is sometimes painful. Career path very unclear.

    Advice to ManagementAdvice

    I would suggest taking advice from other companies in the financial district - keep the employees well informed, make clear career paths and promotion availability. Start to require management to live up to higher expectations and not behave like a "family" business, but more like a "top" business in "grandfathering" in management.

    Doesn't Recommend
    No opinion of CEO
  6. 2 people found this helpful  

    Great place to work for pay and financial possibilities. Lacks in system stability and employer-employee line-of-sight.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Programmer Analyst  in  Chicago, IL
    Current Employee - Programmer Analyst in Chicago, IL

    I have been working at Chicago Board Options Exchange

    Pros

    Great pay. Fairly low stress. Slow learning curve. Low expectations. Firm is (currently) privately held. Downtown Chicago. Nice employee referral program. Great resume stuffer.

    It's a great "in" if you are in the Financial field or have an interest in Options and/or Stock. Lots of knowledgable people who have been around since the early days of CBOE.

    Cons

    Poor working relationships. Poor direct management supervision. Poor performance planning and management. Poor project management. Poor project execution. Low quality technological system.

    There seem to be serious disconnects between the average employee and the overall direction of the company. Projects are often discombobulated, hard to implement, hard to follow, hard to clean up. With multiple projects being implemented, one on top of the other, the quality of the system would seem to be compromised. The employees that have been here for a while often come across as arrogant and can be difficult to work with, requiring other employees to pry information out of them.

    Advice to ManagementAdvice

    Remember to keep the vision and goals of the organization strong and obvious to all levels of employees at the firm and create employee engagement as well as strong career paths.

    Approves of CEO

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