MasterCard

  www.mastercard.com
  www.mastercard.com
There are newer employer reviews for MasterCard

8 people found this helpful  

Snatching Defeat From The Jaws of Victory...

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Business Leader in Purchase, NY
Current Employee - Business Leader in Purchase, NY

I have been working at MasterCard

Pros

Golden Handcuffs - e.g., Thou shall be paid more, receive the sorts of bonuses and profit shares that are lied about elsewhere during interviews
Many job roles offer diverse approaches and methodologies, or interesting work
The company has a printing press in the basement with the now-organic global adoption of plastic and electronic payments in lieu of cash
Good reputation and cachet for a resume
Generally "nice" people
An opportunity for true greatness if the trajectory of the company can be altered to better fit the dynamicism of the future - This place CAN win, but isn't
Good Work-Life balance for most roles, especially for the competent
Recent words and inklings from senior folks offer glimmers of hope for long-term view beyond the current model

Cons

Golden Handcuffs - e.g., Thou shall find it difficult to duplicate your pay elsewhere even when taking a "Step up"
Addiction to core business model (the printing press, see Pros), while serious longer-term threats of disintermediation and displacement exist
Senior Management is woefully overrated, and are largely are a collection of Association-era dinosaurs and sclerotic banking vets. MasterCard is still a pasture for the empty suits.
Serious lack of effective innovation, and ridiculously poor integration of acquisitions - again, indicative of inability to operate outside of core franchise and processing competencies
Legal and overprotective turf warriors prevent any innovation, as does the lack of connection to end-consumers.
All of the traditional FI's and payments ecosystem players are losing out to agile and emerging channel players, and MasterCard is behind among that pack t that as a whole are behind.
Lacking junior resources; with a top-heavy "upside down pyramid" structure with decade-experienced professionals mired in cubicle city while window offices are occupied by folks with occassional good soundbytes at meetings but little else
Fear of Visa. The constant feeling of being Second or Third. An on the balance fear-based culture, with top-down dictums without coherent strategy, and reprisals for contrarianism
Over saturation of client-facing roles.
Recent actions don't match words of the "Powers That Be"

Advice to ManagementAdvice

Two ways to approach this:

1) Remake the culture entirely into one of innovation with an "attack" mentality, rather than one focused upon reputational protectionism to a fault and "the old way" of doing things. Key to this, would be to build scale and network externality by offering some items free at high quality at the cost of medium term profits. But, value would be created by new offerings that . STOP LOOKING AT THE SHARE OF A TRANSACTION for everything. With scale, value is created, even from that which is "free" - See the biggest .com and mobile successes

2) Alternatively strip it down. Let's be fair: half the employees in Purchase aren't even needed to support the core business model, so devote oneself to it, maximize margins, and then work to partner / acquire / merge with a "new" player in emerging payments who do all the innovation better than we. This longer-term allows us to "go for the kill",. and has greater chance of success than option 1 of trying to win the way we have always crippled by terrible innovation culture and dubious effectiveness of most senior managements and entire functional areas.

Disapproves of CEO

298 Other Employee Reviews for MasterCard (View Most Recent)

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  1. 1 person found this helpful  

    Good quality of life, but poor career progression

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Business Leader in Purchase, NY
    Current Employee - Business Leader in Purchase, NY

    I have been working at MasterCard

    Pros

    Work life balance, manageable job responsibilities

    Cons

    Limited career progression, very little feedback about how to improve performance

    Advice to ManagementAdvice

    Create performance based promotion opportunities

    Approves of CEO
  2.  

    enjoyable work but constant reorganizations made productivity difficult

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee in Purchase, NY
    Current Employee - Anonymous Employee in Purchase, NY

    I have been working at MasterCard

    Pros

    decent pay and benefits
    work can be interesting
    generally supports good work/life balance
    good internal training opportunities with Mastercard university

    Cons

    large bureaucracy and overhead increases costs and create too much paperwork
    no career growth or promotional opportunities
    poor management
    politics rather than performance determines success

    Advice to ManagementAdvice

    Institute real performance management and start emphasizing effective management
    Let business managers make business decisions rather HR and legal leading the business

    Doesn't Recommend
    Disapproves of CEO
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