Investment Technology Group

  www.itg.com
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Investment Technology Group Reviews

Updated Jun 11, 2014

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All Employees Current Employees Only

3.1 67 reviews

58% Approve of the CEO

Investment Technology Group President & CEO Bob Gasser

Bob Gasser

(12 ratings)

56% of employees recommend this company to a friend

Review Highlights

Pros
  • Work-life balance is better than most but it means there is less work than really needed for the amount of people (in 9 reviews)

  • Good people - I know that's a cliche here, but the people are funny and fun to be around (in 4 reviews)


Cons
  • Doesn't seem to be clear direction from senior management (in 4 reviews)

  • There were not many roles that had potential for me to move into, and even in my own role, I had a hard time asking for more challenging work (in 2 reviews)

More Highlights
19 Employee Reviews Back to all reviews
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Currently rebuilding and content with low quality workers and compensation

    Anonymous Employee (Current Employee) New York, NY

    ProsEasier work-life balance. Many new interns/hires recently graduated bring new energy. Allows the company to re-energize the company. Nice new office. Some benefits but mainly for the benefit of new hires (i.e. ends after the summer interns leave). Most status-quo old guard employees are gone. New exciting products in multi-asset to keep up with the industry.

    ConsEasier work-life as there is less work to do. People are slightly jaded or learned from existing culture to leave at 5.30pm, at the lastest. HR strategy to continually hire new interns to replenish whoever is able to leave is needed for that reason. They know people will leave so they overstock some groups prone to higher turn-over. They are content with letting smart people leave so they can replace with cheaper new hires. They are content to keep someone who does a request in 4 hours instead of paying more for that person who can think objectively and write a script that does it in 10 minutes. That is understandable if they don'y have the money, however, with this strategy they should keep the new hires as they move up in the company as they are still cheaper than the old employees they replace but they still do not pay anywhere close (~20+) away from market rate. Then that leaves a lot of low quality personnel who have no where else to go that stick around. Some "fake it until you make it workers" are still around but the company can help moral with better performance evaluations and actually tying performance to compensation. Then everyone will know those workers are paid according to their low work ethic. No more cronyism hires like a friend from college put in charge of a computer system with no programming experience. Those workers will never get fired as they're wiling to take their lower than average salary and HR will not fire currently as no layoffs appear to be on the horizon. Leaving these low quality people around bleeds into everyone else around them to lower their productivity. I know it has affected myself. No more real bonuses anymore. Only regular low single to low double digit % bonuses. Benefits always coincide with new summer interns. Everything disappears once they're gone. Nice new office doesn't mean much after the first month when you don't combine it with the auxiliary benefits that usually come with the startup/finance atmosphere - i.e. food,on-site gym,etc. "Volunteer" charity events are pseudo mandated for managers to set up. It is one thing to organize a charity with interested people, but another to try to "highly encourage" managers to plan an event and force feed collegial bonding. Software hasn't been updated in awhile. The software developers who designed the system in the late 90's are still around and haven't updated their programming skills. A lot of infrastructure built on old software that they are afraid and don't want to update for fear of losing their competitive advantage as experts for the system they built. Developers slow roll a lot of projects and over-sell how much work they really do.

    Advice to Senior ManagementAdd more benefits and compensation to high achievers. Fire the low quality people who fire fight issues bouncing from one hole to another rather than fix issues before they happen. Hire new tech or new technology management that know how to affect change. Bleeds low morale into other people after awhile when everyone figures out who the high and low achievers. If you can't/won't with the new normal bonus levels, add more "startup" benefits for everyone including gym, healthy breakfasts, lunches dinners, rewards such as basketball tickets for employees of the month or hockey or baseball game outing for a group with best successful project (that's how you do team building and incentivize if you don't have the money for bonuses), pay for career enhancing courses such as programming in new language or technology, any outings such as run clubs, softball, etc instead of just for new hires. Pay to keep the new hires. Waste to attract talented graduates and then let them leave after two years as they are smart enough and able enough to find another job. Replacing new hires with even newer hires is not the strategy. HR stuck in old HR schemes of asking brain teasers (how many jelly beans in the jar) as experience level of HR is younger. Old HR tactics such as exploding offers, time limits can be ignored, if the manager already picked you, high change that is an empty threat by HR.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Just OK

    Vice President Research Sales (Former Employee) New York, NY

    ProsThe atmosphere is relatively upbeat, at least on the sales & trading floor. A handful of smart guys sprinkled amongst a mix of fairly hard working younger people.

    ConsNot impressed with the leadership. Quality of the research product fluctuated wildly, although the energy research was consistently impressive. The legacy Majestic research has plenty of room for improvement.

    Advice to Senior ManagementCut the BS & politics out of the business and focus on being a top flight service provider.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    a company going down

    Software Engineer (Current Employee) New York, NY

    Prosflexible environment, 18-day vacation at start, nice colleagues.

    ConsAlmost no bonus in the recent years.
    Upper managers are lack of vision of the market.
    Promotion and bonus is not related to your work contribution.

    Advice to Senior ManagementYou want to survive in this market, then you need to keep the talents by giving competitive compensation.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Mid level firm with mid level quality people

    Anonymous Employee (Current Employee)

    ProsWork-life balance is better than most but it means there is less work than really needed for the amount of people. Steady earnings so less worry of layoffs in recent times. New office and some occasional benefits (plus since all the hard cuts and layoffs past few years from the recession). Interesting products and potential to engage in lots of products if motivated.

    ConsCompensation is a joke. Many groups over staffed and all over-compensated for the amount of work done. No accountability and transparency in how performance directly correlates with compensation. Mid-market firm competing with bulge brackets is at a disadvantage in a lot of respects.

    Advice to Senior ManagementContinue with what they're doing for now - reduce costs. Compensate and directly correlate or provide benchmarks/ranges. Continue recruiting at more universities. Provide a better review system to weed out the last of the few remaining under performers (hit to morale to know that high compensation to under achievers)

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    2 people found this helpful  

    Corporate hell - think "Office Space"

    Anonymous Employee (Former Employee) New York, NY

    ProsRelatively laid back environment. If I were middle aged and just concerned about having a 9-5 that I didn't care at all about- not looking to learn anything or advance my career - but just get a paycheck and focus on my family - then ITG would have been great.

    ConsWhere to start? Salaries are a joke. Raises/bonuses were non-existent for 3+ years (but they still seemed to have the budgets to do a complete 'rebranding' - all while laying off lots of people). There is very little communication or collaboration between departments. The prevailing attitude really seemed to be one of holding on to a degree of power/control over a minute aspect of the business in order to maintain relevance, then be free to take as long as possible getting anything done. Talent was not developed or offered means to move despite claims to the contrary. Innovation is a laughable buzz word at a company like this.

    Advice to Senior ManagementDespite my complaints, the multiple rounds of layoffs were probably necessary given the environment over the years. That said, to combine that terrible morale situation with not giving raises, bailing on little things like paying for happy hours and then having the gall to spend money on a huge ad campaign and still have cap-x budgets lying around is just not the way to develop and retain talent.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

     

    Great experience until the new CEO

    Director Sales and Trading (Former Employee) New York, NY

    ProsWorked with a great groups of guys. Lots of smart people, tools and products, until the new management.

    ConsLack of leadership, high level of nepotism. Too many chiefs not enough workers.

    Advice to Senior Managementcurrent management lack product knowledge. 1108 employee is too many, management is overpaid.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

    1 person found this helpful  

    Work on trading applications

    Anonymous Employee (Current Employee) New York, NY

    ProsGood exposure to trading system technology

    ConsUnderpaid, work is under stress and less structured

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

    4 people found this helpful  

    Unchallenging and a constant feeling of being stuck on a sinking ship.

    Anonymous Employee (Former Employee) New York, NY

    ProsWell known, widely used trading platform
    Coworkers are smart and nice
    Medium sized company, the strategic moves in the company are more easily made since it is smaller
    The research department (the recent purchase) is the brightspot.

    ConsUpper mgmt does not know what they are doing, it seems.
    Chance of getting fired is very high, with no prior notice being given, and it seems random.
    The company could do what it does with half the number of employees.
    ITG is not respected in the finance community.

    Advice to Senior ManagementMake a plan, tell it to the employees and stick to it. There is a lot of uncertainty and everyone is scared about losing their job. This needs to be adressed to have people feel safer.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    A secretive place to work in

    Financial Engineer (Former Employee) Boston, MA

    ProsGreat group of colleagues, they work hard and have real talents.

    ConsNo leadership from senior management, no growth in point of view.
    Secretive middle management. Minimum communication in-between department, minimum chance of career training and development

    Advice to Senior ManagementI think the CEO should step down.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

    2 people found this helpful  

    Started off well, but become stagnant after a while

    Anonymous Employee (Current Employee) Los Angeles, CA

    ProsCasual, structured environment with flex time.

    ConsIt seems like there is no chance to move up in terms of promotion.

    Advice to Senior ManagementWithout properly compensating your employees, some will be definitely leave.

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