Investment Technology Group Reviews

Updated May 25, 2015
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Investment Technology Group President & CEO Bob Gasser
Bob Gasser
5 Ratings

Pros
  • Work-life balance is better than most but it means there is less work than really needed for the amount of people (in 12 reviews)

  • Good people, nice and collegiate environment (in 4 reviews)

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

  • Benefits are slashed without warning (in 2 reviews)

More Pros and Cons

23 Employee Reviews

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  1. Helpful (1)

    Investment research

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Investment Technology Group full-time

    Pros

    Fun people on other teams Great culture Pretty interesting work (if building something new)

    Cons

    No movement upward (most people have to move out but luckily buy side love recruiting out people) Long hours (depending on team) Low pay with no structure of increasing pay overtime Uses a "overtime system" that doesn't actually increase your overall income as it's an excuse not to give bonus (so you make less than comparable firms)

    Advice to Management

    Increase pay if you want to maintain talent and not have high attrition. Have a structured promotion system or people will leave since there's no opportunities to move up.


  2. Helpful (1)

    Poor technology leadership from top to bottom.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President in New York, NY
    Former Employee - Vice President in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Investment Technology Group full-time

    Pros

    Culturally diverse company Brand focussed company

    Cons

    Technology teams are run with demotivated employees working long hours with no incentives. More focus on hierarchy, reporting structure then fixing grass root inefficiencies. Rampant favoritism and inefficiencies tolerated at all levels No focus on innovation. more focus on the fluff No standards or processes followed across the board in technology

    Advice to Management

    Senior Technology Management needs a big shakeup. Look for talent than loyalists


  3. Helpful (4)

    Extreme favoritism will impede career growth and development

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I worked at Investment Technology Group full-time

    Pros

    Good work life balance.

    Cons

    Career advancement is based on who in executive mgt favors you; not based on merit. Executive mgt prefers yes men. Employees are aware of this so they tend to be jaded and cynical.


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  5. Helpful (2)

    Good company to retire in, not a company to grow.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Software Engineer in New York, NY
    Current Employee - Senior Software Engineer in New York, NY
    Neutral Outlook
    No opinion of CEO

    Pros

    Its a good company, if you have enough experience and just like to have a stable job and income. Lot of flexibility, 70 % of the of the software teams work from home whenever they please.

    Cons

    No room of growth for junior to mid level developers. Software development 'Managers' do not innovate and are frustrating to work with. Lot of micromanagement at all levels within software development, will make you skin crawl. High level of bureaucracy and stinky politics.

    Advice to Management

    Trust and Invest in your teams.


  6. Helpful (4)

    Currently rebuilding and content with low quality workers and compensation

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Investment Technology Group full-time

    Pros

    Easier 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.

    Cons

    Easier 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 Management

    Add 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.


  7. Helpful (1)

    Just OK

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President Research Sales in New York, NY
    Former Employee - Vice President Research Sales in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Investment Technology Group full-time (More than a year)

    Pros

    The 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.

    Cons

    Not 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 Management

    Cut the BS & politics out of the business and focus on being a top flight service provider.


  8. Helpful (1)

    a company going down

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Software Engineer in New York, NY
    Current Employee - Software Engineer in New York, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Investment Technology Group full-time (More than 5 years)

    Pros

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

    Cons

    Almost 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 Management

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


  9. Mid level firm with mid level quality people

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Investment Technology Group full-time (More than 5 years)

    Pros

    Work-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.

    Cons

    Compensation 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 Management

    Continue 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)


  10. Helpful (2)

    Corporate hell - think "Office Space"

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Investment Technology Group full-time (More than 3 years)

    Pros

    Relatively 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.

    Cons

    Where 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 Management

    Despite 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.


  11. Great experience until the new CEO

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Director Sales and Trading in New York, NY
    Former Employee - Director Sales and Trading in New York, NY
    Doesn't Recommend
    Negative Outlook

    I worked at Investment Technology Group full-time (More than 5 years)

    Pros

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

    Cons

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

    Advice to Management

    current management lack product knowledge. 1108 employee is too many, management is overpaid.



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