FXCM, Inc. – Dallas, TX
• The FX Industry - You will learn about this 5 trillion dollar a day market including other big players in the FOREX market in addition to FXCM… FXCM, Inc.
FXCM, Inc. – Dallas, TX
• FOREX Market – You will learn about the largest market in the world, the FOREX market. By the end of your internship, you will understand what… FXCM, Inc.
FXCM, Inc. – New York, NY
• Cisco switch and router maintenance • Network infrastructure research/engineering/support Experience & Skills: • CCNP/CCIE level networking… FXCM, Inc.
FXCM, Inc. – Dallas, TX
• Identify and investigate potential suspicious activity, conduct investigations, and make recommendations based on findings; • Assist with the… FXCM, Inc.
2 people found this helpful
- Comp & Benefits
- Work/Life Balance
- Senior Management
- Culture & Values
- Career Opportunities
I worked at FXCM full-time (more than an year)Pros
+ Enjoyed the people I worked with
+ People had good work ethic
+ Networked and made good connections
+ When I started, there were top-performers who respected tremendously for their work ethic and ability to get results, and who I also learned a lot from professionally (most had left before I finally left)
+ Middle-management (Team Leaders, VPs) are generally good and competent (their lapses seem to be that they simply don't have enough resources to retain the talent needed although I have a hunch that C-levels are squeezing middle managers on purpose).
+ Learned more about financial markets than I could have through taking university courses.
+ Goals started off very quantifiable (although they have shifted to start being more qualitative, which makes it more difficult for resumes)Cons
- Not enough opportunities for even top-performers to move up in a way that enhances their own income.
- Compensation is far too low to compete with better offers at other companies. Instead of a raise I was told that the whole company was pausing on raises because of "market conditions" and I would get one as soon as possible. In under 2 years, my pay stayed the exact same at FXCM. When I left, overnight I got a 33% base pay raise and a much larger (and far more transparent) performance compensation plan.
- For someone who enjoys being productive, you are asked to spend far too much time with people who (quite frankly) shouldn't even be trading and are probably better dropped as customers, rather than spending time with with whom the company will have mutually beneficial relationships.
- Watch what people do, not what they say. Lots of promises about compensation that is "probably" coming in the future and the "potential" but very little was more than just talk. Even if the compensation matched the "talk" it still would have been lower than what high-performers can make elsewhere.
- Sales and customer service seem to be merging into one unit.
- Lacking resources for talent means that less effective people are hired, which means that management needs to micro-manage more in order to get results from these people (rather than hiring talent who can operate more-or-less autonomously). The type of management needed to get results from somebody who is talented is very different from the type of management needed to get results from somebody who is untalented. Middle management seems to be adjusting to dealing with untalented people (meaning more micro-management).
- I enjoy being good at what I do and getting results - Skills that make me valuable and would make me effective and far more productive at most other companies were were beginning to atrophy and getting worse the longer I stayed.Advice to ManagementAdvice
Simple advice to management to retain people in these positions would be to increase compensation, make bonuses (in the role a person is in and in other roles so that you can easily see what you 'could' be making) more transparent (the company easily has enough cash to keep talent).
However, I think C-level management knows exactly what it is doing in regards to its internal employee strategy although I doubt they are transparent about this with mid-level managers (they seem to be under increased pressure to drive numbers higher using decreasing resources and support). Lower-level, customer-facing roles don't add to the bottom-line and upper management is unwilling (rightfully so, if these units don't add to the bottom-line) to give the resources needed to develop/keep talent here (why invest in resources/talent that you don't need?). Ultimately upper management behaves like the C-level goal is to weed out most of the lower tiers and lower management levels. I actually have no problem with this strategy (creating a stagnant work environment with low pay) from their perspective, it just isn't necessarily a place where I want to invest my time and talent when I can get more somewhere else.
I think the company will continue to perform strongly for upper management and stockholders and will continue to be at the top of the industry. I also have no doubt that the company's success would have meant nothing to me monetarily.
My advice to anyone looking to work here is to immediately contact recruiters to have them start looking for a next position for you. It's not a bad place if you can leverage your results here to get more money somewhere else (not hard).Doesn't RecommendPositive OutlookDisapproves of CEO