Macquarie Group

www.macquarie.com
Profile Unclaimed
There are newer employer reviews for Macquarie Group

6 people found this helpful  

If you're smart, you won't stay long

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Analyst in New York, NY
Former Employee - Analyst in New York, NY

I worked at Macquarie Group full-time (more than 5 years)

Pros

- high turnover and thin staffing means many opportunities for advancement, taking on additional responsibilities
- smart, hard-working colleagues
- open-door policy (for some management)
- regular communication from upper-level management

Cons

- extensive interview process (and disorganised HR), tends to alienate potentially strong candidates
- compensation/bonuses don't reflect the long hours, dedication and hard work that's expected
- outdated technology/systems, and little (if any) investment planned in this area
- too much politics and bureaucracy (more than most comparable firms on the Street)
- no loyalty or appreciation...yesterday doesn't matter, it's always "what have you done for me today?"
- stress, stress, and more stress (did I mention stress?) - zero work/life balance
- extremely low team morale
- ineffective management (they tend to promote strong team players, rather than those with the actual skillset to be successful managers)
- Sydney management doesn't get the US business model, or how to succeed in the US market, which makes for a very confused, disorganised corporate culture in NY (torn between Aussie and US standards)

Advice to ManagementAdvice

Adapt from the Aussie business model if you want the US business to succeed. Hire locals who know how to get things done, rather than bringing in staff from Sydney. Give local management more authority/autonomy and trust the local staff you hire. Streamline the interview process and pay in line with the rest of the Street.

Doesn't Recommend
Negative Outlook
Disapproves of CEO

350 Other Employee Reviews for Macquarie Group (View Most Recent)

Sort: Rating Date
  1. 1 person found this helpful  

    friendly low-stress culture but growing too fast and very top-heavy

    Former Employee - Analyst in New York, NY
    Former Employee - Analyst in New York, NY

    I worked at Macquarie Group full-time (more than a year)

    Pros

    easy-going people make the entire floor less stressful than other banks

    senior mgmt make themselves very accessible

    opportunity for rapid increase in responsibility (much faster than elsewhere)

    Cons

    overly aggressive growth, esp lateral hires of senior ppl

    compensation is simply not competitive for junior ppl

    politics and bureaucracy very palpable

    company's directors are in sydney and out of touch with the industry

    Advice to ManagementAdvice

    focus on improving existing businesses rather than growth for the sake of growth

    hold employees to performance metrics more closely

    develop and reward junior ppl instead of overpaying for senior ppl from other shops

  2. 1 person found this helpful  

    Great firm...not but the firm of old.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Associate in New York, NY
    Current Employee - Associate in New York, NY

    I have been working at Macquarie Group

    Pros

    - Open floor plan across the board,
    - Tons of opportunities for career and organisational advancement,
    - Interesting improvement projects abound (within IT),
    - Communication from upper management is pretty regular and usually concise,
    - Competitive base compensation and excellent benefits (within IT),
    - Beautiful workplace setup; kitchens are pretty well stocked (nearly infinite juice/soda/cereal/fruit and Friday activities are a nice touch with some groups)

    Cons

    - Pretty terrible bonuses have been the norm for the last few years, though this was mitigated somewhat with higher base pay and overtime, if applicable,
    - Constant re-organisations and office moves,
    - No centralised ways for encouraging workplace/technological innovation,
    - Technology is pretty outdated in comparison to most of the industry,
    - New and ever-changing internal processes make it difficult to get work done,
    - IT graduate programme (in the US) could use more organisation,
    - Significantly fewer team outings than several years ago...though this also seems to be a common trend in the industry.
    - Entrepreneurial culture is definitely going away with constant "process improvement" and trimming of workplace benefits.

    Advice to ManagementAdvice

    Macquarie's leadership is doing a great job at balancing cost cutting with organisational culture and company morale, but could do a better job at building more high-level leadership in the US (which has been becoming a central market for them for the last few years).

    However, cutting innovation and entrepreneurship from Macquarie's culture will not save money. Focusing on process instead of people is not a lasting cost-cutting strategy. Lost morale is hard to regain...and there's a lot of it going around these days. There are tons of big(ger) banks that top-flight graduates, who are usually honeypots of innovation and potential money-making, can choose. Macquarie is starting to lose the edge that made it stand out...and that's not helpful when none of them (in the US, which is beginning to become a core market) knows who they are.

    Approves of CEO
There are newer employer reviews for Macquarie Group

Work at Macquarie Group? Share Your Experiences

Macquarie Group

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.