IMC Financial Markets

  www.imc-chicago.com
  www.imc-chicago.com

IMC Financial Markets Reviews

Updated October 16, 2014
Updated October 16, 2014
40 Reviews
2.4
40 Reviews
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IMC Financial Markets
23 Ratings

Employee Reviews

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  1. 1 person found this helpful  

    I have completely changed my technical abilities for the better. The experience I have gained is priceless.

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

    I have been working at IMC Financial Markets full-time (more than 3 years)

    Pros

    -Great opportunity to collaborate across teams
    -Opportunity to learn whatever you want as long as you get your primary responsibilities done
    -Energetic employees that are fun to work with
    -Overall positive atmosphere

    Cons

    Some weeks a lot of hours need to be put in, but that is expected in this industry.

    Advice to ManagementAdvice

    Keep up the good work. The opportunity to move to different teams is a big motivation to keep working hard. I'd like to see more of this where appropriate.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Great place to work

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

    I have been working at IMC Financial Markets full-time (more than 3 years)

    Pros

    - Working on new cool technologies
    - Every day is a little different so it keeps me on my toes
    - Enjoy the people on my team and like working with them
    - Learning more and more with passing month.
    - Travel to other offices in Europe and APAC

    Cons

    Nothing to report for the cons section but the glassdoor site requires a minimum of 20 words in this field.

    Advice to ManagementAdvice

    I think they are doing a good job and think they will continue on this track.

    Recommends
    Positive Outlook
    Approves of CEO
  3. 1 person found this helpful  

    From bad to worse

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

    I have been working at IMC Financial Markets full-time (more than 3 years)

    Pros

    The thing I like telling my friends about this place is that (parts of) the office is really nice looking. The views are pretty decent and the free food is a good perk. Everything else is pretty on par with other trading firms.

    Cons

    The leadership is atrocious and management is really bad. This leads to a culture that is plainly toxic. Contrary to what the firm communicates on social media and on campus, this place is not a meritocracy. It is political, petty, cut throat and in order to survive you need to have the protection of someone important.

    Advice to ManagementAdvice

    Change the toxic culture you have created here. There are people who have been at the firm for too long doing more harm than good. Time to part ways with them and bring in new blood.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
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  5. 11 people found this helpful  

    Below average at best

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

    I worked at IMC Financial Markets full-time (more than an year)

    Pros

    Ok so the Chicago office made money the last few years and management told us such every month in their monthly meetings. The HQ was not so lucky to be making money and management told us such too.

    Cons

    Communication from the top was always veiled in some ulterior motive. The company was less than honest with their employees. Told that bonuses would be cut across the board until the bonus list was leaked and showed that bonuses went up for a lot of people. Told that the HK office would be a priority but it was shut down a few months later.

    Advice to ManagementAdvice

    Most people get the model here - hire out of college kids without any experience and mold them to believe whatever you tell them. Recall that someone people are rather good at reading between the lines so just be HONEST with your employees. That is all.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 9 people found this helpful  

    Let's get to the bottom of this...

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

    I have been working at IMC Financial Markets full-time (more than 3 years)

    Pros

    Work life balance is good. I never work past 5:30pm and the day is usually not bad. Non-ambitious people can be just fine here.

    Free lunch is great and saves me a lot of cash.

    Cons

    Dutch run things, yes they do. The last review states otherwise, but here are the facts. And what is sad is someone who has been allegedly with the firm for 3+ years does not know what is going on.

    The co-CEOs are Dutch. They are based in Amsterdam and they run the firm from there. They own the bulk of the shares and run the firm they way they want without much regards to local culture and standards.

    The heads of trading are not America. The person who runs Equity market making or Option market making, are not Americans as have been stated. One is Dutch and the other is Australian.

    Head of software development is Dutch. Look at the reporting lines and the people who determine the bonuses, follow the money and it will lead you to the answers.

    Well this is what is wrong with the firm. Too much Dutch influence and management but a few in the firm will go out of their way to deny it. Accept that this is a Dutch firm and you will be ok.

    The other con of working here is that there is no career progression. You do what you are hired to do and that is it. They are no plans to develop you or grow you. Managers at every level are lacking in basic management skill as they are all very inexperienced and new to their roles. The firm frowns upon hiring outsiders with any degree of experience.

    Advice to ManagementAdvice

    Just learn to listen to those who are not in the partnership. Create an environment where people are not afraid to open up.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    IMC Financial Markets Response

    Sep 26, 2014Managing Director

    Thanks for your feedback. IMC got its start 25 years ago in Amsterdam and I’m really proud of our Dutch roots. I grew up in the Chicago area and began my career with IMC 11 years ago, working in ... More

  7. 11 people found this helpful  

    Obfuscation at its worst

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

    I worked at IMC Financial Markets full-time (more than an year)

    Pros

    Surely giving credit where it is due - these are what is attractive about the firm:

    1. A lot of free perks (concerts, lunches, company trips, etc)
    2. Benefit plans are very good
    3. College atmosphere which is great for single guys
    4. Mac laptops available as are iPhones
    5. Location in the loop close to public transportation

    Cons

    Major part of the problem is that people running the place as very inexperienced in management, psychology and communication. Here is what is bad about the place:

    1. Management is around only because of tenure and closeness to openers. Not because they are great leaders or have great visions or other skills.
    2. Copy cat culture. There are no original ideas here. Everything comes from interviewing employees of competitors and then trying to copy it.
    3. A lot of dead weight. Bad traders continue to be employed due to closeness with those mentioned in #1.
    4. Churn and burn mentality. Those in #1 will hire a lot of fresh grads and those fresh grads will be put through the rigor. Most of them will leave or get fired in a few years and will be replaced by fresh grads. this keeps the cost structure low and those in #1 get to keep their power and seniority because there is no one left to challenge them.
    5. Height of hypocrisy at this place. They say at IMC that "the argument wins". What they really mean is that if you "argue" with a select few people or disagree with them you are pretty much out the door. Also they say that they hire the smartest people (based on GPA I would guess). Yet those in #1 would not be hired under the current GPA threshold in place. They say that they are a flat culture but politics and bureaucracy run rampant.
    6. Teams of people monitor social media and spread disinformation. Case in point these last two reviews on this site were written by these teams or could be a team of one. They always state the cons to be that the place is too challenging or demanding and that is all. In reality, there is a lot wrong with this place which is common knowledge but is glossed over by these teams of monitors. Read their reviews and you will see how similar they really are to each other.
    7. Oft repeated and very true that this is a Dutch company. The Dutch run it and are paid more and given more responsibilities. Deal with it and you will be okay. If you are looking for fairness this is not the place.
    8. Strategies are too plain vanilla market making relying purely on speed. Read flash boys and you will get an idea of what they do here. Once the speed advantage is gone, there is nothing left here.
    9. There is a blog dedicated to Dutch trading companies. A lot of other issues with IMC are detailed over there. Its closest competitor is Optiver, which does not have a lot of issues detailed. Makes you wonder about this place.

    Advice to ManagementAdvice

    Look at GETCO, Virtu, Spot etc. They have hired experienced professional management and given them the ability to run the place without interference. Try that and get rid of some of those in the partnership rank who just cannot lead.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 7 people found this helpful  

    Great place to work with smart people

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

    I have been working at IMC Financial Markets full-time (more than 3 years)

    Pros

    - Recent grads are given lots of responsibility much earlier than at other trading firms
    - Lots of independence and ability to determine your own direction at the company
    - Good technology
    - Work with exceptionally smart people so that it is easy to learn from the best within and outside of your job function. A lot of mentoring
    - Work hard, play hard environment, fast paced and challenging work

    Cons

    - Expectations are high
    - Work-life balance isn't great. Everyone is passionate about work which can make hours long
    - The company seems pretty to new to being this size. A lot of the managers seem to be new to people management and learning pieces of it on the job.

    Recommends
    Positive Outlook
    No opinion of CEO
  9. 4 people found this helpful  

    Quite a great experience

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

    I worked at IMC Financial Markets full-time (more than an year)

    Pros

    smart coworkers. good at systems design

    Cons

    software is used internally. not much impact to outside world.

  10. 8 people found this helpful  

    They have bad reviews because they are a bad company

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

    I worked at IMC Financial Markets as an intern (less than an year)

    Pros

    If you're a star, you can make a lot of money very early in your career. There is a decent amount of independence as well. Good technology, seems like they are continuing to make money.

    Cons

    Opaque management and decision-making. Low trust environment. People don't seem satisfied with the compensation structure. The Dutch call the shots, with the Chicago management / HR there to smooth things over (but not change anything).

    Advice to ManagementAdvice

    Value your employees as assets, not commodities.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11. 10 people found this helpful  

    Avoid this company

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

    I have been working at IMC Financial Markets

    Pros

    Working in the tallest building in the country. That's about it sadly.

    Cons

    Dirty politics, awful and arrogant management, backstabbing culture and no spirit of camaraderie amongst employees.

    All in all, the environment is purgatoric.

    Advice to ManagementAdvice

    Treat your employees better and foster an environment of dignity and respect.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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