Chicago Board Options Exchange Reviews

Updated March 4, 2015
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3.1
41 Reviews
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Chicago Board Options Exchange Chairman and CEO Bill Brodsky
Bill Brodsky
19 Ratings

Employee Reviews

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  1. Generally a pleasant place to work, however talent varies greatly across various teams

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

    I have been working at Chicago Board Options Exchange (more than 5 years)

    Pros

    depending on team, could be working on really interesting problems with bleeding edge technology
    politics are minimal
    people are generally nice

    Cons

    production support can be bad
    depending on team, could be using really outdated technology

    Recommends
    Neutral Outlook
  2. Old School Tech Company but Great People and Management

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

    I have been working at Chicago Board Options Exchange full-time (more than 10 years)

    Pros

    Challenging work, teamwork essential, good money and benefits, and a variety of work projects. Production support can be stressful but is only about 25% of your job. Results-based management style, very technically strong management (no pointy-haired bosses here!).

    Cons

    There is only one promotion ladder, so the best programmers eventually end up being managers, directors, or VPs, unless you don't want a raise. Permanent positions are being eliminated and replaced by offshore (and onshore) outsourcing and contractors.

    Advice to ManagementAdvice

    You are very weak on advanced technology training. Teach me JDK 8, Python, or open-source projects that will eventually make our development cycle, QA installation procedures, and ultimately our trading systems more efficient.

    Recommends
    Neutral Outlook
    Approves of CEO
  3. Good place to start career, learn about financial markets

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

    I have been working at Chicago Board Options Exchange full-time (more than a year)

    Pros

    Commitment to being a leader in its industry.

    Good work-life balance

    Co-workers are committed to building a great franchise

    Cons

    Very political. Never sure if you have angered the wrong person, and hearing about it coming back on your review.

    Recommends
    Positive Outlook
    Approves of CEO
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  5. Good place to work

    Current Employee - Quality Assurance Engineer in Chicago, IL
    Current Employee - Quality Assurance Engineer in Chicago, IL

    I have been working at Chicago Board Options Exchange full-time (more than 8 years)

    Pros

    Good Place to work and learn

    Cons

    Need to update new technology

  6. 1 person found this helpful

    Learning Experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Investigator in Chicago, IL
    Current Employee - Investigator in Chicago, IL

    I have been working at Chicago Board Options Exchange full-time (less than a year)

    Pros

    Great environment. No clockwatchers but work must be done. Training and Development is great for newcomers.

    Cons

    The pay is low and as a result people tend to leave once they have a few years under their belt.

    Advice to ManagementAdvice

    Employee retention should be addressed.

    Recommends
    Positive Outlook
    Approves of CEO
  7. 3 people found this helpful

    Great company for men!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Helpdesk in Chicago, IL
    Former Employee - Helpdesk in Chicago, IL

    I worked at Chicago Board Options Exchange full-time (more than 5 years)

    Pros

    great location, lots to do and the trains drops you off right by work. there are so many choices right out front for lunch. Location can't be beat.

    Cons

    There is a lot of shady people that work here. It's completely obvious that most employees do not like working for this company. I can't think of one manager that is actually a decent manager. There are so many managers who scream for really no reason at all. The people who should be managers will never be a manager. You will be be abused and taken advantage of if you work here. If you are a woman be prepared for constant sex jokes. You will just have to deal with it. If you complain to HR they will get rid of you somehow! You will be laid off so just relax and enjoy the culture as I roll my eyes. The HR people are clueless. Never go to them about anything. Like ever!

    Advice to ManagementAdvice

    just like congress - you all should be fired and let true leaders lead!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 6 people found this helpful

    the best company for baby boomers One Among the Worst Companies to work around in Chicago Area

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Regulatory Engineer in Chicago, IL
    Former Employee - Regulatory Engineer in Chicago, IL

    I worked at Chicago Board Options Exchange full-time (more than a year)

    Pros

    None about the Company
    1. Downtown Chicago
    2. Lot of Places to eat
    3. After work entertainment

    Cons

    news Facts: 1. The U.S. Securities and Exchange Commission levied its first-ever fine against a stock exchange for oversight issues, docking the Chicago Board Options Exchange $6 million for allegedly failing to enforce or even understand rules designed to prevent illegal short-selling.

    2. CBOE fix for bug that halted trading

    Google above and you will see why its not worth working here.

    1. There is no work culture here to describe. Its like wild west regarding various departments from communication to responsibilities. The older managers are judgmental based on appearance, income , place of living etc. If you have seen movies office space and wolf on wall street this company will resemble a mix of both the movies.
    2. Most Managers and Directors are Yes Men to C level executives to keep their jobs because they can't find anywhere else and will blame it on subordinates and team members. Some managers don't have proper 20th and 21st century social skills and are not fit for hiring at other places.
    3. The average age of employees here is more than 50 years. Mostly Wild west and redneck old boys network. Couple of Managers I heard suffer from psychological disorders, hypertension and will get angry or moody for no reason and will swear a lot. The longer you stay here one get more institutionalized.
    4. People work in Silos here and there are no learning opportunities since most of the technologies haven't changed from late 80's and early 90's. Its harder for current employees to find job outside of their company due to limited exposure.
    5. Only a few managers are educated beyond high school and few directors and executives beyond undergraduate degrees. Few of the Managers , directors and executives have community college degrees. Education is not a requirement but swearing is a must.
    6. There are no software development standards system wide and have been following what was done in early 80's and 90's in mainframe technology. They are more about sticking to the unrealistic timeline for production with no time for testing the products which caused issues like the market halt in 2013
    7. Pay is less than the industry standard in Chicago and there are are no growth opportunities. There are software Engineers with 20+ years here with no changes to title and pay.
    8. Nowadays there is no innovation here and its mostly about keeping the system alive without failures and patch work for keeping it running.
    9. Public has realized about CBOE Shenanigans based on news in Particular and recent recession and trading volume has reduced in their exchanges.
    10. Lot of Ratings Agencies have changed CBOE to sell after their quarterly report

    Runaway from this Hell

    Advice to ManagementAdvice

    Nothing because you cannot teach Old Dog's new Tricks . Time to close CBOE

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9. A great environment for potential. Plenty of different departments to learn from

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Lead Systems Operator in Chicago, IL
    Current Employee - Lead Systems Operator in Chicago, IL

    I have been working at Chicago Board Options Exchange full-time (more than 3 years)

    Pros

    Flexible work schedule, Knowledgeable people, and great benefits. There are opportunities for personal growth.

    Cons

    Occasionally there can be a lot of politics involved between different departments and communication can be dropped sometimes. Also, a lot of high pressure situations

    Recommends
    No opinion of CEO
  10. 4 people found this helpful

    Go elsewhere

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

    I worked at Chicago Board Options Exchange full-time (more than a year)

    Pros

    Not many pros. Convenient location , nice coworkers

    Cons

    Poor management top to bottom in the regulatory group. Lack of strategy, training. Nothing here to motivate.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11. 1 person found this helpful

    Education, Marketing and Technology

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Options Institute Support in Chicago, IL
    Former Employee - Options Institute Support in Chicago, IL

    I worked at Chicago Board Options Exchange full-time (more than 3 years)

    Pros

    There is still great potential of company growth if the CBOE can promote itself for traders and investors. As long as equity volume doesn't drop dramatically, the CBOE should continue to grow.

    Cons

    There is too much focus on monthly exchange trading volume. There is not enough focus on trying to educate conservative investors about basic option strategies.

    Advice to ManagementAdvice

    Keep trying hard to educate basic investors about options

    Recommends
    Positive Outlook
    No opinion of CEO

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