Interactive Brokers

  www.interactivebrokers.com
  www.interactivebrokers.com

Interactive Brokers Reviews

Updated November 10, 2014
Updated November 10, 2014
49 Reviews
2.9
49 Reviews
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Approve of CEO
Interactive Brokers Chairman, President, and CEO Thomas Peterffy
Thomas Peterffy
35 Ratings

10 Employee Reviews Back to all reviews

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  1.  

    Spontaneous mess

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

    I worked at Interactive Brokers full-time (more than 3 years)

    Pros

    Salary, paid lunch, no strict work control, it's easy to talk to people, good location, learn about finance, work with smart people

    Cons

    Managerial disaster, no logical policies (in fact often no policies at all), no real way to move forward, extreme measures to keep you at the firm (you get your current year bonus split over the next 6 years, if you leave you lose the rest?? c'mon), no vacation days, almost impossible to express your opinion upwards (i.e. 'this is what you have to work with dude'), lack of creativity, lack of proper planning for anything (no idea what PM is), lack of communication between people (on same project?), work sometimes comes 'from the air', lack of organization, managers are not managers, but commanders, dull 9 to 5 job in many cases

    Advice to ManagementAdvice

    You can make people more dedicated with promoting creativity, clear rules of what is expected from them. Dare to be more generous with vacations, opportunities for promotions, education, etc. Communication is in really bad shape. Managers should manage, not command.

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

    Hope You Like Working Under a Dictatorship

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Greenwich, CT
    Current Employee - Anonymous Employee in Greenwich, CT

    I have been working at Interactive Brokers full-time (more than 10 years)

    Pros

    Acceptable Pay, Good Benefits, Job Security

    Cons

    Minimal pay increase at the end of every year, 22 days MAXIMUM vacation and sick time combined even after several years of service, no job growth, no time to yourself during the work day or lunch break, you can never work enough hours to satisfy management requirements, your opinion will never be valued. If you are OK with being micromanaged, being told what to do, how to do it, and to do it immediately on a daily basis while realizing you will never get anywhere in the company then this is the place for you.

    Advice to ManagementAdvice

    Welcome to Interactive Brokers where if you aren't on top, you mean nothing to no one. Senior management is severely out of touch with today's technological advancements and what customers are looking for from a brokerage company. This company seems to be frozen in the early 90s with little to no improvement in the trading platform, its design, or ease of use. Progressive movement to create original ideas to keep the company in business are consistently shot down. Customer service is also lacking to say the least. Management does not promote from within and hires individuals from outside sources who are not qualified for doing the jobs that are asked of them. Basically, if you know nothing of the position you are applying for, then you are perfect for the job! Culture is cut throat with senior management constantly fighting with each other over who gets to play in the sandbox with the president, with their behavior childish at best. Constant insults and name calling are common place at this establishment at all levels; where sophisticated dialogue utilizing every swear word in the English language are terms used on a daily basis to define a coworker or their performance. President of company also likes to force his political views on his employees to further his own agenda for the Republican party. Most senior management are from foreign countries and do not speak English very well, this makes it very difficult to understand phone calls and emails from them.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3.  

    Good people but limited resources to work and internal tools always crash

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Customer Service Representative
    Former Employee - Customer Service Representative

    I worked at Interactive Brokers full-time (more than 3 years)

    Pros

    -Majority of the people in customer service and technical support are very nice and helpful

    -Free lunch (if you stay in office and work during your lunch hour)

    Cons

    -Internal communication tools and systems constantly crash and could not get information to help assist customer

    -Limited resources (more often no resources) and training to help customer, for example they expect you to assist a client to place an order in an iPad and iPhone, we don't even have these tools in the office! Constantly have to use personal phone and mobile data plans to help customer; they don't care how things are done as long as the customer is assisted.

    -Management controls everything, they have the final say and if you are on the trainee system and you submit a reply, chances are you have to wait one or two days for approval. Chasing them is hopeless.

    -Communication between regions is very troublesome. Colleagues from other regions are often bouncing between tasks claiming it is because customer is based on the closest region or because of time difference. Since the global routing, people may cold transfer calls back to the existing queues so that they can leave on time.

    -Projects that are assigned are often random and pointless.

    -Majority of the Technical Operations team are very unhelpful, when escalating an issue they either do nothing or waste your time, or wait 2-3 days to copy and paste your report on the bug report to escalate further.

    Advice to ManagementAdvice

    Train employees and provide better resources to complete day to day tasks. For example, mobile devices and tablets so that we know how to walkthrough clients on placing orders.

    You may also want to give more incentive for your employees to stay.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5. 2 people found this helpful  

    Intense, originally challenging but later depressing and even debilitating

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Software Engineer
    Current Employee - Software Engineer

    I have been working at Interactive Brokers full-time (more than 5 years)

    Pros

    - A few of efficient business processes, most well-automated
    - A handful of worthy technologies to learn and think of.
    - Fair-n-square business practices as far as I can say (not to confuse with "nice to clients")
    - Acceptable pay; almost-guaranteed "raises" for raising cost of living
    - Keep to the letter to their side of your contract (which does not include much good; but still)
    - Free lunch that you usually eat at your desk (if you consider that a pro)

    Cons

    - Self-righteous and rigid high management; initiatives and comments are effectively discourages
    - Antiquated and ineffective-to-stupidity software governance (do not confuse with 'inefficient').
    - Non-existent work/life balance (total 16 days for vacation, personal and sick days; you are mostly treated and managed as a resource rather than human being)
    - Not only are free information and idea exchange not promoted but in many ways strongly discouraged. As an example, you won't even have an Internet access at your desk unless your function needs it. As one of the results, the company is stagnating technologically.
    - No training/learning programs I am aware of.
    - People are discouraged from talking

    Advice to ManagementAdvice

    Not that I think they would take any, but: consider formally training yourself in ethical people management (maybe try reading Stephen Covey's books?).

    On a side note: I had to rank CEO "disapprove" for his failure to keep the management effective and adequate to the company''s scale. This is not at all intended to deny his technical and financial genius and ethical business practices that made this company possible. I would have selected "both approve and disapprove" if the Web side provided this choice. (I did not want to select "No opinion" because I certainly had one)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6. 3 people found this helpful  

    Show Me The Money

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Greenwich, CT
    Current Employee - Anonymous Employee in Greenwich, CT

    I have been working at Interactive Brokers full-time (more than 5 years)

    Pros

    The money is pretty good. They pay programmers very well and they pay managers very well, but everyone else is paid just okay, but you get annual bonuses and stock options. There is little or no bureaucracy, and very few meetings. This place is not bogged down in process. The non-management people who work here are very nice. The business can be interesting. If you're lucky, you get to work on interesting projects. Medical insurance premiums are paid for 100%.

    Cons

    You work here for the money. That's the bottom line. They pay for lunch, but not because they're nice, it's so you stay at your desk during lunch. They pay for medical benefits, which are ultimately insufficient if you have a major medical issue. You get 15 days off per year for personal, sick and vacation time, then an extra two days at five years. And you are discouraged from taking too much time off. It is for many employees, a sweat shop. The structure of the company is based on silos: each department is competing with other for the CEO's attention and favor; that is the sole motivator behind all day-to-day decisions. Only management is allowed to create projects and come up with creative solutions, in spite of their lack of real experience and training in many areas, such as software project design, marketing, user interface design, and so on. There is no career growth, no annual reviews, no promotions.

    If you want to come and make money and work a lot for a few years, this can be a decent place to be. But it will not be personally or professionally satisfying in any way, and you will get cynical and burn out fairly quickly.

    The CEO has surrounded himself with a bunch of long-time associates, most of whom are all from Eastern Europe like himself and have all become millionaires. If you're not in that club, you are simply a lowly employee treated disrespectfully.

    Advice to ManagementAdvice

    These guys are hopeless. It all flows from the CEO's benevolent dictator management style. Until and unless he changes his personality, it will continue on this path. They really need to bring in people from other companies and allow them to challenge the status quo. And give employees better work-life balance.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  7. 1 person found this helpful  

    do not stay long

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

    I worked at Interactive Brokers full-time

    Pros

    salary is very good
    free lunch
    nice people around
    after 2 years, work is easy and not log working hours

    Cons

    No career growth at al. new comers are given minimal information to barely finish projects with a lot of struggle, You can learn more about the business/technology from outside than from your group members.
    You will be pigeonholed to to the same thing for ever
    Communication is awkward and frustrating
    Management is so obsessed with cost cutting, there is not enough head count, so evey one is drowned in maintainance work.
    Eastern European employee get better treatment than others

    Advice to ManagementAdvice

    speechless

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    Exciting but lack of proper supervision

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Financial Trader in Dhaka (Bangladesh)
    Former Employee - Financial Trader in Dhaka (Bangladesh)

    I worked at Interactive Brokers

    Pros

    - Opportunity to trade in foreign financial market and learn about the market practically.
    - Opportunity to learn technical analysis by applying it in real situation.
    - Management gave ample opportunity to prepare for real trading by trading simulation

    Cons

    - Only two person in the firm have real trading experience.
    - Do not have a knowledgeable and experienced supervisor for new traders.
    - Failed to give a proper guideline to the new trader for example: what is expected to them after the end of a day or month.

    Advice to ManagementAdvice

    - Should appoint a supervisor who have real trading experience.
    - Should have more trading style in the firm to accommodate different people with different qualification. For example: A person who have proper training and motivation to trade by proper analysis should have the independence to trade coming out of the limitation of "day trading style"

  9. 1 person found this helpful  

    It's not at all a social place to work !

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Software Engineer in Greenwich, CT
    Current Employee - Software Engineer in Greenwich, CT

    I have been working at Interactive Brokers

    Pros

    Great salary and benefits recession proof .

    Cons

    No social life and team culture.

    Doesn't Recommend
    Approves of CEO
  10. 1 person found this helpful  

    Don't Do it

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

    I have been working at Interactive Brokers

    Pros

    Free Lunch & decent bonus

    Cons

    No work life Balance, Consistently understaffed and overworked. Pay is not for performance.

    Advice to ManagementAdvice

    Work Life Balance ever heard of it?

    Doesn't Recommend
    Disapproves of CEO
  11.  

    If it was fun, it wouldn't be called work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Interactive Brokers

    Pros

    If you perform well, you will be promoted.
    Nice offices
    Colleagues are friendly
    modern computer equipment
    free lunch is provided

    Cons

    You can hear a pin drop. Employer does not want employees to chat with each other in the workplace because that means that they are not working.

    Advice to ManagementAdvice

    Listen to the little guy. The smallest decisions take too long to be made because they have to be approved by top management.

    Doesn't Recommend
    Approves of CEO

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