There are newer employer reviews for Macquarie Group

Helpful (5)

Poorly run investment bank-wannabe

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

I have been working at Macquarie Group full-time

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

Pros

Well stocked kitchen and pantry. Free breakfast cereals/milk.

Cons

Very Australian centric business. Expat Aussies make all important decisions, and Americans are thoroughly distrusted. Management tries to cut costs constantly, nickel and diming at every opportunity. Bonuses have been cut drastically, and morale is terrible. The company is pretty ruthless in how it treats its employees, and managers have the ability to fire people at will for no cause.

Advice to Management

Clean out expat Aussie management, and hire locals - they understand American work culture a lot better.

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  1. Helpful (1)

    Constant changes which seem for the worse!

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

    I have been working at Macquarie Group full-time (more than 5 years)

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

    Pros

    Large corporation with large corporate benefits...vacation, medical, dental, 401K, etc... however, their matching contributions are less than other companies I have worked for. They display "some" loyalty to employees with generous severence, but overall objective is to make more and more at all costs!

    Cons

    Can conduct themselves a bit ruthlessly. Extreme restrictions and monitoring of all electronic communication. Does not maintain current software/hardware levels for business transactions. Again, "continually" updating benefit and compensation structure.

    Advice to Management

    Stop setting unrealistic objectives. Level off as a mature company with consistent, growth and maturation in business entities.

  2. Helpful (6)

    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)

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

    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 Management

    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.

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