Chicago Board Options Exchange Reviews

Updated June 14, 2015
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44 Employee Reviews

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  1. Helpful (1)

    Great opportunities and learning experience.

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

    I have been working at Chicago Board Options Exchange full-time (More than 5 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Great team work within the department.

    Cons

    Different departments did not work well with other departments. Opportunities for advancement and training should be based on merit.

    Advice to Management

    Fix the issue first, bring parties together for an after action report and stop the blame game.


  2. Helpful (4)

    Not A Place For Lifetime Career

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

    I worked at Chicago Board Options Exchange full-time

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

    Pros

    * Decent work-life balance. Never had to put in overtime (which full time exempt employees wouldn't get paid for anyway) to get additional work done. * Fair entry job to get started in the securities regulation industry. But not the type of place where a lifetime career should be considered.

    Cons

    * Inefficiency in department operation in terms of how work products are analyzed, processed, etc. * Poor overall compensation (base pay, bonus, other incentives, etc.) that is quite below the market value for the similar type of position in the industry. This seems to be due to the fact that CBOE went down the path of quantity over quality when they decided to expand its department (general consensus amongst employees (current and former) at CBOE). Also, because of this method of personnel management, employees do not feel valued whatsoever; many feel that they are treated as disposable individuals rather than invaluable assets that can make a difference at work. * Department seems to lack accountability. Most of the times, people do not seem to have the desire to take responsibility for their actions. * Severe lack of clarity in the criteria for merit, promotion, etc. * Absurd level of "training" that hasn't seemed to provide much benefit to the employees' day-to-day activities at work (general consensus amongst employees (current and former) at CBOE). It feels like these trainings are held simply to fill in the number of required hours. Training should strictly be about things that are pertinent to what their teams respectively do.

    Advice to Management

    Just by looking at the Cons, it should be evident enough on what Management should consider. A lot of the Cons noted are the voices of the majority at CBOE. But the problem is nobody wants to even bother listening. A company that seriously cannot listen to the concerns of its employees do not have a bright long-term future; this applies to any type of company.


  3. Phone Screen interview

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Chicago Board Options Exchange

    Pros

    Company with a good reputation, all seem warm and nice.

    Cons

    Like most interviewer, leveling people on there knowledge detail of a language, or a small thing, ignore the ability of more important thing, like the ability to write complicate programs.

    Advice to Management

    Next time interview people, prepare some problem to check prospector's IQ, not memory.


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  5. Helpful (2)

    Old company with management that is still stuck in the paper and pen technology era.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Co-workers were good people, Liked chicago. Good food in the surrounding area. Prestigious until you pull back the curtain. Decent benefits but not the best.

    Cons

    Conservative Technologically, for a company that is 99% web based now. (very little in person trading going on) Spaghetti for code because they use too many contractors and nobody knows an upper level view of how the trading platform interacts. They actually were unable to remove features from the code because nobody was able to make heads or tails of where to even start removing the code. One big mess, not using any logical structure to the platform. Tech directors hired from old boy network, with no experience in IT. Paper pushers have less operational knowledge of platform than subordinates. Very little opportunity for advancement or autonomy.

    Advice to Management

    Try hiring tech directors with IT experience.


  6. Helpful (1)

    My experience is that this is a place where people stay for a long time. They come in, do their jobs and leave.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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)

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    It is very laid back and not stressful at all. The hours and work/life balance are excellent and most departments are pretty flexible.

    Cons

    Pay is low compared to the industry. There is no internal methods for motivation. You must be self motivated. I have found a lot of things that are wrong or don't get done becasue there is very little communication. Promotions seem to be based on time not performance.


  7. Helpful (3)

    Engineer

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

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

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Pay is good. Location is good.

    Cons

    Some management levels do not have a proper training to understand how to be a good manager.

    Advice to Management

    Go to a class to learn how to be a good manager.


  8. Solid company.

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

    I have been working at Chicago Board Options Exchange (More than 10 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Good benefits & compensation, favorable hours.

    Cons

    Some weak middle management. and decision making.

    Advice to Management

    Listen more to employee concerns.


  9. Helpful (1)

    It was interesting and not too much pressure.

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

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

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    good work life balance and benefits

    Cons

    too much politics and difficult to move up

    Advice to Management

    none


  10. Engineer

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

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

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Laid back environment, learn at your own pace. Lots of things to learn if you want to. Some nice and helpful people.

    Cons

    Rigid structure, no outside trading, old technology. Opportunity to grow and get promoted few. Lot of emplasis on production support. Too much complex system.

    Advice to Management

    Technology is your brain and heart and future , treat them with respect.


  11. Helpful (2)

    Summer Intern

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

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    You are teamed up with a department and are able to learn the ins and outs. The people at the CBOE are amazing and helpful. Great experience in the Financial Industry

    Cons

    No cons. You also take classes through the options institute which can be challenging at times but you learn a lot and earn a certificate.

    Advice to Management

    Keep up the good work.



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