The company also has a great culture and most of its employees try to have a good work-life balance(in 39 reviews)
Good benefits, good pay, good global exposure but still very beaurocratic and "meeting heavy"(in 19 reviews)
Forget about work life balance that they preach on paper but do not put in practice(in 9 reviews)
There is a barrier with middle management - the top is visible and engaged but info stops in the middle(in 9 reviews)
5 people found this helpful
Pros – 1. If you are a hard worker, no need to worry about loosing your job ( It will never run out of business in the foreseeable future)
2. Lots of benefits for fulltimers
Cons – 1.Monotonous work
2.Lots of politics
5.Bunch of people to steel the credit for the work you did.
Advice to Senior Management – 1. Actively involve in the projects and know who is dong what.
2. Adapt good Software Development processes.
3. Dont just look for the outcome, look for how the team delivered that outcome.
No, I would not recommend this company to a friend
2 people found this helpful
Pros – professional environment
nice, polite culture
Cons – many layers, hard to get ahead, no clear career path, very very political, passive aggressive culture, ineffective HR department. horrible managers are tolerated for too long, should be quicker to fire people that do not perform or have numerous complaints filed agains them.
Advice to Senior Management – make the organization flatter so people feel empowered to make decisions! and get rid of ineffective managers.
2 people found this helpful
Pros – Compensation and flexibility is good
Cons – No Leadership, senior executive vision
Advice to Senior Management – Engage more with employees
8 people found this helpful
Pros – Golden Handcuffs - e.g., Thou shall be paid more, receive the sorts of bonuses and profit shares that are lied about elsewhere during interviews
Many job roles offer diverse approaches and methodologies, or interesting work
The company has a printing press in the basement with the now-organic global adoption of plastic and electronic payments in lieu of cash
Good reputation and cachet for a resume
Generally "nice" people
An opportunity for true greatness if the trajectory of the company can be altered to better fit the dynamicism of the future - This place CAN win, but isn't
Good Work-Life balance for most roles, especially for the competent
Recent words and inklings from senior folks offer glimmers of hope for long-term view beyond the current model
Cons – Golden Handcuffs - e.g., Thou shall find it difficult to duplicate your pay elsewhere even when taking a "Step up"
Addiction to core business model (the printing press, see Pros), while serious longer-term threats of disintermediation and displacement exist
Senior Management is woefully overrated, and are largely are a collection of Association-era dinosaurs and sclerotic banking vets. MasterCard is still a pasture for the empty suits.
Serious lack of effective innovation, and ridiculously poor integration of acquisitions - again, indicative of inability to operate outside of core franchise and processing competencies
Legal and overprotective turf warriors prevent any innovation, as does the lack of connection to end-consumers.
All of the traditional FI's and payments ecosystem players are losing out to agile and emerging channel players, and MasterCard is behind among that pack t that as a whole are behind.
Lacking junior resources; with a top-heavy "upside down pyramid" structure with decade-experienced professionals mired in cubicle city while window offices are occupied by folks with occassional good soundbytes at meetings but little else
Fear of Visa. The constant feeling of being Second or Third. An on the balance fear-based culture, with top-down dictums without coherent strategy, and reprisals for contrarianism
Over saturation of client-facing roles.
Recent actions don't match words of the "Powers That Be"
Advice to Senior Management – Two ways to approach this:
1) Remake the culture entirely into one of innovation with an "attack" mentality, rather than one focused upon reputational protectionism to a fault and "the old way" of doing things. Key to this, would be to build scale and network externality by offering some items free at high quality at the cost of medium term profits. But, value would be created by new offerings that . STOP LOOKING AT THE SHARE OF A TRANSACTION for everything. With scale, value is created, even from that which is "free" - See the biggest .com and mobile successes
2) Alternatively strip it down. Let's be fair: half the employees in Purchase aren't even needed to support the core business model, so devote oneself to it, maximize margins, and then work to partner / acquire / merge with a "new" player in emerging payments who do all the innovation better than we. This longer-term allows us to "go for the kill",. and has greater chance of success than option 1 of trying to win the way we have always crippled by terrible innovation culture and dubious effectiveness of most senior managements and entire functional areas.
1 person found this helpful
Pros – Work life balance, manageable job responsibilities
Cons – Limited career progression, very little feedback about how to improve performance
Advice to Senior Management – Create performance based promotion opportunities
Pros – Campus type atmosphere, successful business model, strong employee base
Cons – Little opportunity for advancement, promotion within your role is impossible
Advice to Senior Management – Stock for all employees who rate highly at year end
Pros – Very well positioned company to take advantage of existing as well as future trends in payment industry. Multiple connections and alliances among banks, processors and corporate partners enable MasterCard to be viewed as an attractive partner for electronic commerce and payments. Potential is high, execution is a challenge.
Cons – Very slow to enable advancements to take advantage of market conditions in a timely manner. Many self-driven innovations fall short of market needs. Current management changes and personnel displacements have created large gaps in expertise and "brain drain" syndrome. They appear destined to repeat past failures due to lack of experience among market-facing staff. Potential is offset by inability to execute.
Advice to Senior Management – Create innovative products that can actually be used and earn profits. Do better market research. Mobile MoneySend, PayPass, InControl and others "sound good" but are not serving the needs of those who would use and pay for them as services.
Pros – -Dynamic new CEO with very good ideas and style
-Strong balance sheet and core products
-Changing payments landscape is making work much more interesting and challenging
-Potential to be a really great place to work
Cons – -There is a very strong existing culture that limits internal communication, questions, and risk taking
-New CEO is trying to change culture. This leads to 1) uncertainty in may parts of the organization and 2) Challenging internal politics
-Risk that new CEO may not be successful
Advice to Senior Management – Set up means to hear what all levels of the company are thinking and convince employees they are not risking career success by speaking out.
1 person found this helpful
Pros – There are good benefits provided by the company, There is a strong global network and some insightful research. Plenty of opportunities to work across multiple business units.
Cons – Poor communication from HR. Beware of the meeting culture. People host meetings when they could just communicate needs through email or over the phone.
Advice to Senior Management – Offer more open communication and reduce redundancy.
Pros – MasterCard offers a good place to balance work and home life. If you like to work 9-5 with very little stress, this the company to work for.
Cons – MasterCard likes to clean house every quarter and never announces it in the media. They do not like to re-hire former employees. Access to major highways is a bonus.
Advice to Senior Management – Senior Management shoud spend more time intercating with employees. Bring in new managers that have not worked in the old "payments assocation" business model.