Interactive Brokers

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Interactive Brokers Reviews

Updated Jul 16, 2014
Interactive Brokers – Mumbai – “Interactive Brokers India Office”

All Employees Current Employees Only

2.3 41 reviews

45% Approve of the CEO

Interactive Brokers Chairman, President, and CEO Thomas Peterffy

Thomas Peterffy

(29 ratings)

26% of employees recommend this company to a friend
41 Employee Reviews
in
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    2 people found this helpful  

    Its a miracle there hasnt been an office shooting there yet

    (Former Employee)

    ProsThey pay for your lunch
    Fully stocked pantry
    I heard they finally upgraded the accounting systems.
    The "party favors" at the annual meting/holiday party
    The Chicago people seemed nice
    The money flowed like water (at least it did in 1999-2000)

    ConsNo life work balance
    Asinine procedures
    TP has to have his hands in every aspect of the business but cannot be bothered if you need his signature or approval for anything
    Office bullying is rampant at all levels

    Advice to Senior ManagementThere are more activist investors out there that know what kind of outfit you run and avoid IB like the plague beacuse of it.
    Actually, keep doing what youre doing. Ive made a s---load shorting IB since you went publc.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    2 people found this helpful  

    This company should qualify as #1 worst place to work for

    Treasury Analyst (Former Employee)

    ProsThe only one that I can account of is the free lunch you are entitled to. But guess what, you are supposed to eat it at your desk ( which is the whole point of it being free) and if you dare to leave you will be attacked by disapproval looks

    Cons-disrespectful management - you will get yelled at for things such as the way you arrange your own desk, the shrift you use etc. You will be constantly treated as being incompetent and worthless.

    -on your own - This dept is a bunch of people that happen to work together ( very far from team). You are not supposed to ask questions. if you dont get something it's your own fault, don't expect to recieve support. On the contrary, asking for one will put you faster on the unemployment bentch than you think ( happened to a colleague)

    -Zero employee morale - basically 90% of the treasury team leaves within a year ( true statistics). Main reason - management that creates a sick environment, comparable to a concentration camp.

    To sum up, do yourself a favor and don't even bother apply. You will not only lose your time but hurt your career and health. Don't do it! There are so many better companies out there ( happen to work for one now) that will put a lot more value on you and your career development.

    Advice to Senior ManagementFirst day on the job I was told " If you think this is a place where you can chat around with colleagues, you are not int he right place" Turned out to be the total true. I have no other comments.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    6 people found this helpful  

    Avoid this at all costs if you value life outside of work

    Senior Developer (Current Employee) Greenwich, CT

    ProsDecent salary is how we get people in the door. Based on performance (and we are pretty fair about this), you can get a decent bonus. There are absolutely no meetings to attend, not any -- ever. So if you like to sit at your desk and just work (i.e., no politics) then that is a plus.

    1. The hours are fine -- approximately 9am to 6pm.

    2. They allow you $12 per day to order lunch on seamless web.com.

    2. The work is fairly interesting IF you get assigned an interesting project.

    3. They give you annual "cost of living" increases of 4% per year.
    THIS IS WHY I AM STILL HERE AFTER 8 YEARS, FYI. It adds up -- quickly!

    ConsBenefits, culture, and career. Trust me, you do NOT want to work at this place unless you are 21 and have no life. I got in early, and I'm almost done, but in clear conscience I must tell it like it is.

    1. You are expected to be at your desk the entire time, even for lunch. You will be reprimanded if you are away from your desk for too long.

    2. You do NOT socialize with your coworkers. Management walks by several times per day and WILL notice this and comment about getting back to work. It has gotten better in the 8 years that I have been here but this is not a place to go to make friends or to have any type of workplace camaraderie.

    3. The benefits are horribly, horribly abysmally bad. You'd better not have any type of protracted injuries, for example, because if you need short-term disability (I did once) it provides a MAX of $500 per week for 26 WEEKS (since when is 26 weeks short-term?!!!). A normal policy would provide FULL salary for 6 weeks followed by HALF salary for a much longer term.

    4. The benefits also suck for vacation -- you get 2 weeks (10 days) per year. You have to work there for 5 years (!!!) to get another 2 days (!!!). This is a sweat-shop, boys, plain and simple.

    5. You will not be exposed to any of the inner-workings of the firm for many, many years. This is prudent on our part, but it also means that YOU WILL NOT LEARN ANYTHING about the brokerage or trading business that you couldn't get by working for 1 year at another firm. You are here to code, plain and simple.

    Guys -- I got in early and got stock options and I'm almost done with my career. I have had highs and lows with this firm. But I look at some of the new people coming in now, and it's just pathetic that they don't know how much better it can be at other places. I have golden handcuffs -- they do not.

    Look elsewhere and you'll thank me that you did.

    Advice to Senior ManagementNone -- this is a money-making machine and they squeeze everything they can out of labor. It's paid me well and continues to do so.

    No, I would not recommend this company to a friend

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    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    4 people found this helpful  

    pretty secretive and communist attitude, stingy with salary

    Quantitative Analyst (Former Employee) Greenwich, CT

    ProsLearn to code ( it is a programing sweat shop) and
    Learn basics of finance and trading
    Get your foot in the door

    Conspoor compensation
    no freedom to be creative
    Very autocratic
    the place has a management crisis
    and a really secretive culture where they dont permit interactions

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    don't work here if you want to be a real developer

    Developer (Current Employee)

    Prospay is not bad. working hours is OK. good location.

    Cons1, You don't feel like a developer working there, just a typist. Micro management detailed to the level that you don't have to have a brain working there, two hands are enough.

    2, Cryptic culture. Developers are often given projects without knowing what's is really for.

    3, The culture is formed in such a way that people do not talk to each other, they sit at their desk eating their lunch quietly ... day after day.

    Advice to Senior ManagementIn addition to money, try to be nice to you employees, do not just pretend to.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    If you want to feel like chattel, this is the place!

    Anonymous Employee (Former Employee)

    ProsTalented development staff. Everyone in the same "situation".

    ConsThis entire organization is run by the delusions of one person... the people in customer service are good, but the systems that dictate the methodology is awful and unbending.

    The company seems more like a psychological experiment than a business.

    Advice to Senior Managementhaha...useless. It's Thomas Peterffy.... Take some value in the people who made you rich.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Horrific Work Culture

    Anonymous Employee (Current Employee) Zug (Switzerland)

    Prosbest for people who look for 9 til 5 kind of civil service job.
    learn and leave for another job

    Consno incentives for innovation as no profit sharing or P&L related bonus
    no additional perks , no support for further education
    company sticks to only provide legal minimum vacation days

    Advice to Senior Managementnone, consultation fees should be given to employees for such advice

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Good people but limited resources to work and internal tools always crash

    Customer Service Representative (Former Employee)

    Pros-Majority of the people in customer service and technical support are very nice and helpful

    -Free lunch (if you stay in office and work during your lunch hour)

    Cons-Internal communication tools and systems constantly crash and could not get information to help assist customer

    -Limited resources (more often no resources) and training to help customer, for example they expect you to assist a client to place an order in an iPad and iPhone, we don't even have these tools in the office! Constantly have to use personal phone and mobile data plans to help customer; they don't care how things are done as long as the customer is assisted.

    -Management controls everything, they have the final say and if you are on the trainee system and you submit a reply, chances are you have to wait one or two days for approval. Chasing them is hopeless.

    -Communication between regions is very troublesome. Colleagues from other regions are often bouncing between tasks claiming it is because customer is based on the closest region or because of time difference. Since the global routing, people may cold transfer calls back to the existing queues so that they can leave on time.

    -Projects that are assigned are often random and pointless.

    -Majority of the Technical Operations team are very unhelpful, when escalating an issue they either do nothing or waste your time, or wait 2-3 days to copy and paste your report on the bug report to escalate further.

    Advice to Senior ManagementTrain employees and provide better resources to complete day to day tasks. For example, mobile devices and tablets so that we know how to walkthrough clients on placing orders.

    You may also want to give more incentive for your employees to stay.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    2 people found this helpful  

    Intense, originally challenging but later depressing and even debilitating

    Software Engineer (Current Employee)

    Pros- A few of efficient business processes, most well-automated
    - A handful of worthy technologies to learn and think of.
    - Fair-n-square business practices as far as I can say (not to confuse with "nice to clients")
    - Acceptable pay; almost-guaranteed "raises" for raising cost of living
    - Keep to the letter to their side of your contract (which does not include much good; but still)
    - Free lunch that you usually eat at your desk (if you consider that a pro)

    Cons- Self-righteous and rigid high management; initiatives and comments are effectively discourages
    - Antiquated and ineffective-to-stupidity software governance (do not confuse with 'inefficient').
    - Non-existent work/life balance (total 16 days for vacation, personal and sick days; you are mostly treated and managed as a resource rather than human being)
    - Not only are free information and idea exchange not promoted but in many ways strongly discouraged. As an example, you won't even have an Internet access at your desk unless your function needs it. As one of the results, the company is stagnating technologically.
    - No training/learning programs I am aware of.
    - People are discouraged from talking

    Advice to Senior ManagementNot that I think they would take any, but: consider formally training yourself in ethical people management (maybe try reading Stephen Covey's books?).

    On a side note: I had to rank CEO "disapprove" for his failure to keep the management effective and adequate to the company''s scale. This is not at all intended to deny his technical and financial genius and ethical business practices that made this company possible. I would have selected "both approve and disapprove" if the Web side provided this choice. (I did not want to select "No opinion" because I certainly had one)

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    3 people found this helpful  

    Show Me The Money

    Anonymous Employee (Current Employee) Greenwich, CT

    ProsThe money is pretty good. They pay programmers very well and they pay managers very well, but everyone else is paid just okay, but you get annual bonuses and stock options. There is little or no bureaucracy, and very few meetings. This place is not bogged down in process. The non-management people who work here are very nice. The business can be interesting. If you're lucky, you get to work on interesting projects. Medical insurance premiums are paid for 100%.

    ConsYou work here for the money. That's the bottom line. They pay for lunch, but not because they're nice, it's so you stay at your desk during lunch. They pay for medical benefits, which are ultimately insufficient if you have a major medical issue. You get 15 days off per year for personal, sick and vacation time, then an extra two days at five years. And you are discouraged from taking too much time off. It is for many employees, a sweat shop. The structure of the company is based on silos: each department is competing with other for the CEO's attention and favor; that is the sole motivator behind all day-to-day decisions. Only management is allowed to create projects and come up with creative solutions, in spite of their lack of real experience and training in many areas, such as software project design, marketing, user interface design, and so on. There is no career growth, no annual reviews, no promotions.

    If you want to come and make money and work a lot for a few years, this can be a decent place to be. But it will not be personally or professionally satisfying in any way, and you will get cynical and burn out fairly quickly.

    The CEO has surrounded himself with a bunch of long-time associates, most of whom are all from Eastern Europe like himself and have all become millionaires. If you're not in that club, you are simply a lowly employee treated disrespectfully.

    Advice to Senior ManagementThese guys are hopeless. It all flows from the CEO's benevolent dictator management style. Until and unless he changes his personality, it will continue on this path. They really need to bring in people from other companies and allow them to challenge the status quo. And give employees better work-life balance.

    No, I would not recommend this company to a friend

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