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CME Group – “Do not apply for any floor operations/market report positions if you want to keep any self-respect!!!

Jun 15, 2008

2.0

CME Group Floor Operations Staff in Chicago, IL:   (Past Employee - 2008)

Pros

The overall benefits (health, dental, etc) are good. The retirement plan includes a 401k and a defined benefit pension plan which many companies these days don't have anymore. My length of time there did afford me several weeks vacation time and PTO time.

Cons

There were way too many levels of management. There are associate director positions for everything!! They are promoting people to these positions sometimes without any real thought put into whether or not these individuals deserve the promotion. If you have the misfortune of working in floor operations (considered the sewer of the company) don't ever expect to be promoted out or even considered for another position in the company even if you have a degree under your belt. This is actually the largest department that is treated the worst.
Recently when annual bonuses were passed out, the percentages were paltry (and this is a mutibillion dollar company!!) but you can bet that management within this department got a sizable chunk with the remaining crumbs going to the employees. Then after giving out these insulting bonuses, the company circulates a list of about a dozen associate director promotions!!!! WTF is that?? Other individuals in other departments (who enter in from the outside with degrees) may have far different experiences, but if you don't have a degree I strongly suggest not applying to any Floor Operations position (particularly market reporter). Once you are in, you will be miserable and you will never have a chance to get out!

Advice to Senior Management

Look more closely at this department and the way it is run. There are about five associate directors on top of pit supervisors and managers. There are people in supervisory roles who are incredibly incompetent but will remain in place because unfortunately this department is based popularity.

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CME Group Overview (CME )
Web
www.cmegroup.com
Industries
Size
1000 to 5000 Employees, $2B+ Revenue
HQ
Chicago, IL
Competitors


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