Macquarie Group

  www.macquarie.com
  www.macquarie.com

Macquarie Group Reviews

Updated December 15, 2014
Updated December 15, 2014
329 Reviews
2.9
329 Reviews
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Macquarie Group Managing Director and CEO Nicholas W. Moore
Nicholas W. Moore
132 Ratings

Review Highlights

Pros
  • Good people and culture and its up to you to make work-life balance for you (in 29 reviews)

  • Open work environment, easy access to executives, open to constructive feedback (in 27 reviews)


Cons
  • You may get some work-life balance in some offices but not generally not in Asia (in 30 reviews)

  • Long hours 10 hours a day and no overtime its part of your overall package (in 27 reviews)

More Highlights

65 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    In Transition

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Information Technology in Philadelphia, PA
    Former Employee - Information Technology in Philadelphia, PA

    I worked at Macquarie Group (less than an year)

    Pros

    Nice place to learn the business processes end - end from a technical point of view. Mature people. Established software. Standard Hours. Easy work.

    Cons

    Aloof Business. In Transition. Uncertainty. Remote control from Australia. Managers have little leeway in taking independent decisions. Hard to get new technology in.

    Advice to ManagementAdvice

    Keep up with times. Show loyalty to get loyalty.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2.  

    Good for Aussies, less so for others

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

    I have been working at Macquarie Group full-time (more than 3 years)

    Pros

    Relatively humane for a bank.
    Somewhat better base, and overall pay is on par.
    Free fruits and breakfast cereal.

    Cons

    Better pay, promotion, and opportunities often go to Aussies and Kiwis first, then to others.
    This leads to managers that vary greatly in knowledge, maturity, and demeanor.
    Transactions tend to be those that larger firms drop, so there are often lots of last minute catch-up work.
    No offices or cubicles here; everyone sits on rows of trading-style desks next to everyone else.
    Smaller firm with modest name value, so it's more difficult to move if you find that it's not so great here.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3.  

    Poor leadership

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Macquarie Group

    Pros

    money, money, money, money, money

    Cons

    bad management, bad management, bad management

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  5.  

    Good pay, difficult environment

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

    I worked at Macquarie Group full-time (more than 5 years)

    Pros

    Salary and benefits are great.' I'm in IBD. Most people are surprisingly nice and helpful. I've only disliked two people in 4 years.

    Cons

    Non-responsive back office functions. Working printers are few are far between, for example, and no one seems to care. Another example is that AP rarely pays bills on time, causing more work for staff. Bonuses are terrible. .

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6. 1 person found this helpful  

    Great for the 1%, otherwise low pay for okay hours

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Associate in New York, NY
    Current Employee - Associate in New York, NY

    I have been working at Macquarie Group full-time (more than 5 years)

    Pros

    * Even with face time, hours are better than typical banking experience (but that is double edge sword cause less deal experience)
    * Junior level exposure means as bullpen member, you will have responsibilities from analyst to VP, notwithstanding your title

    Cons

    * Years of poor pay and bad reputation = difficulties hiring talent. Good junior level support is difficult to come by and entire analyst classes have left before (more typical) 2 years commitment. As associate, you are really acting analyst plus more responsibility
    * In or out group. Pay goes to the top 10%, few get well below market, and large majority have been zeroed. this INCLUDES junior stay, who really have no ability to direct how business is doing.
    * Low moral plus bad pay has caused entire teams to leave at once

    Advice to ManagementAdvice

    Pay junior people street

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7. 1 person found this helpful  

    US office is faltering, hampered by dysfunctional management out of Sydney

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President Level
    Current Employee - Vice President Level

    I have been working at Macquarie Group full-time (more than 3 years)

    Pros

    Smart, considerate co-workers, relaxed work atmosphere. Smart US-based middle management. An easy-going culture not typically found in IB, but cons discussed below are now overshadowing this. Company historically doesn't like to lay off people. Nice, well-stocked kitchen.

    Cons

    US business is faltering, morale is low, uncertainty is in the air. Would agree with other poster concerning compliance matters.

    Owing to flat hierarchy there are no (or very few) offices, even for compliance-oriented jobs; cafeteria/trading desk-style "one-size-fits-all" seating. Chronic tech issues coupled with poorly trained overseas IT staff.

    Advice to ManagementAdvice

    Sydney management needs to articulate what its strategy is for the US business and implement it -- and compensate people commensurate with their contribution, aligned with how the company does in a given fiscal year.

    Doesn't Recommend
    Negative Outlook
  8. 1 person found this helpful  

    Not a good place for career growth

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President in New York, NY
    Current Employee - Vice President in New York, NY

    I have been working at Macquarie Group full-time

    Pros

    Relaxed culture compared to many Wall Street banks
    Nice kitchen and office facilities
    Hours are much better than many firms
    4+ weeks of allocated vacation a year

    Cons

    Generally, the firm is often dysfunctional and does little to improve the issues that it has faced over the years, including:

    Lack of dealflow - there are very few senior bankers with strong client relationships
    Poor leadership and senior management that is near-sighted and does not do enough to retain talent
    Compensation, while slightly improving, is still considerably lower than where it should be
    Junior resources - generally much less talented than peer firms
    High turnover - due to the aforementioned issues

    Overall, not a good firm for career growth or opportunities for development

    Advice to ManagementAdvice

    Exercise better leadership and properly address the many operational issues within the investment bank

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 6 people found this helpful  

    Steer clear of this firm, it is not worth your time and effort

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Executive in New York, NY
    Current Employee - Executive in New York, NY

    I have been working at Macquarie Group full-time (more than 3 years)

    Pros

    - Flat office layout, management and other staff are pretty accessible
    - Well-stocked kitchen and lounge area, can always eat breakfast at the office before work
    - Friday beer o'clock is a good way to socialize with colleagues and get to know the office
    - Exposure to buy side transactions, which can be useful for future exit opportunities, especially in the infrastructure space. Many former MD's and VP's of Macquarie in the U.S., Australia and Asia have established their own funds, which seem to have more of a PE-shop style culture and structure.
    - Regional conferences in cool locations (Spain, Greece, Australia etc.) but these are a thing of the past due to cost cuts and the overall realization that they were just large debauchery conventions where nothing of any business substance was ever accomplished.

    Cons

    - Macquarie is struggling to re-position its business model in the United States. Pre-2007, they excelled in the purchase and fund management of infrastructure and related assets/businesses. Pay was attractive due to lucrative fees earned in the process. However, that business model essentially broke down due to poor performing investments and the inability to raise additional equity capital to support the existing headcount and model in place. Babcock & Brown, which was a smaller version of Macquarie went bust in 2008. Macquarie was able to survive since it is a bank and had other lines of business to cushion it in the downturn. Since 2007, Macquarie pivoted by focusing more on 3rd-party M&A advisory, first by purchasing Giuliani Capital Advisors, which was a complete waste (most left or were let go within the first year post-acquisition)
    - Australians vs. the non-Australians (mostly Americans). Noticeable bias towards expat Australians when it comes to management decision making and layoffs. This culture has degraded morale and stands in the way of the US franchise ever being able to make headway in the U.S. market. The Australians do not seem to understand the importance of hiring and retaining good local American talent. The result is that they have to overpay for mediocre talent from other BB banks that ends up leaving after a couple of years once they understand the culture.
    - The belief that they can excel as PE investors in the U.S. Many of their key investments/buyouts such as Indiana Toll Road, Spirit Finance, Express Energy, Advantage Rental Car, Smart Cart, AirServ etc. have performed poorly and in some cases gone bankrupt pretty quickly. Express Energy was purchased at the height of the energy boom in 2008. A couple of investments have performed well but the BAD ones outweigh the GOOD ones, which is the main reason why they can no longer raise much external equity (and are restricted to their balance sheet). Any attempts by them to manage companies has been a failure because as excel crunching bankers they do not have an operational bone in their body, except for a few people on their fund management side.

    Advice to ManagementAdvice

    Cut staff and stop trying to compete head on with BB's and leading boutique banks in the US. Focus on your key strengths. Most of all, reduce the reliance on expat Australian management staff and reduce the micromanagement from Sydney.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 4 people found this helpful  

    Amazing potential however too dysfuncational to execute

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

    I worked at Macquarie Group full-time (more than 8 years)

    Pros

    Macquarie is often described as the Goldmans of Australia. They are a powerhouse in Australia, however that market is limited. They're trying hard to expand into other regions, however, the management is all still in an Australian mindset. They hire very smart people.

    Cons

    They're going to get eaten alive by local regulators. They've been operating somewhat under the regulatory radar but with the recent pickup in fines and sanctions it's only a matter of time before they get hit with a MAJOR fine. The management is super dysfunctional. No one has any authority to make any decisions and everyone is petrified of accountability. While they spend a huge amount of time and effort on hiring smart people, the good ones quickly leave because of the contraints.

    Advice to ManagementAdvice

    You've lost sight of the best of the cultural values - freedom within boundaries. You've got some great people that are unable to deliver on their potential because of the dysfuncatinal management.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  11. 1 person found this helpful  

    Very Sydney-centric culture, not global or forward thinking despite the tagline.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Manager in New York, NY
    Current Employee - Senior Manager in New York, NY

    I have been working at Macquarie Group full-time (more than 3 years)

    Pros

    Very smart people with strong work ethic.

    Cons

    Too much outsourcing and very little autonomy given to the regions. One-size fits all approach across the regions, which doesn't work for a global firm. When someone leaves, rather than replace them, they make the rest of the team do more with less. No raises for years and nominal bonuses. WAY behind on technology.

    Advice to ManagementAdvice

    Staff up and take a more global view. One size does not fit all. Allow the regions to operate in a manner that makes sense for their region and make decisions without everything having to be approved by Sydney. Improve technology.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

Macquarie Group Photos

beautiful pantry at the consolidated office location on W55 St
View of Victoria Harbor from the IFC office

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