Interactive Brokers

  www.interactivebrokers.com
  www.interactivebrokers.com
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Interactive Brokers Reviews

Updated September 20, 2014
Updated September 20, 2014
45 Reviews
2.7
45 Reviews
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Interactive Brokers Chairman, President, and CEO Thomas Peterffy
Thomas Peterffy
33 Ratings

Employee Reviews

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  1.  

    True meritocracy

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - UI Developer  in  Greenwich, CT
    Current Employee - UI Developer in Greenwich, CT

    I have been working at Interactive Brokers full-time for more than 3 years

    Pros

    Interactive Brokers dispenses with office politics and maneuvering, and presents the opportunity to work for a true meritocracy. If you are a senior developer ready to bring coding expertise and elbow-grease to the table, this is the place for you.

    Cons

    It would be great if there was a greater variety of free drink choices for people who don't drink coffee - do there really need to be 12 different blends of coffee?

    Recommends
    Approves of CEO
  2.  

    A Meritocracy for Programmers

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Programmer/Business Analyst  in  Greenwich, CT
    Current Employee - Programmer/Business Analyst in Greenwich, CT

    I have been working at Interactive Brokers full-time for more than a year

    Pros

    I've been at "IB" for roughly two years after a rather tortuous journey at several large banks. There are basically two primary businesses at IB : 1. The market maker (electronic trading) and 2. The automated brokerage. I work for the latter. Probably the greatest feature (as a programmer) working for this company is that management, and management's management, are all programmers. As a result, the intricacies and difficulties of writing good code are understood by higher-ups and rewarded. For example, you will never have to waste your time explaining to a panel of bureaucrats the differences between Java and Excel at IB.
          In terms of "culture", IB is certainly a for-profit business and as a result, management does expect their employees to contribute to the business while at work. It is generally frowned upon to shop for clothes or view Facebook during the day, although I must admit that we do (gasp) discuss non-work related topics along with taking the occasional afternoon stroll down Greenwich Ave. without the least fear of managerial reprisals. At IB, There is not much emphasis on team-building field trips or pinball-matchine break rooms like some companies have, although this is not what I personally look for in an employer, especially not when the economy sours. My impression is that IB's philosophy is to reward their employees with higher salaries and bonuses, rather than the aforementioned corporate perks.
          In contrast to some of the criticisms I have read below about management being intransigent, I have found new business ideas and technology to be readily embraced here... HOWEVER, be ready to make a business case for them. The utter absence of bureaucracy means decisions are made based on risk and potential profit, i.e. rationally.

    Cons

    There are a multitude of very smart people at this company, with a wide variety of different skills and knowledge. I think that it would be beneficial to have monthly presentations on different aspects of the business or different technologies people are using. Nothing like this is ever discouraged, it's just that no one is particularly proactive about it. We are a bunch of computer nerds so we like this stuff (or at least I do).

    Advice to ManagementAdvice

    See Cons

    Recommends
    Neutral Outlook
    Approves of CEO
  3. 2 people found this helpful  

    customer service representative

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

    I have been working at Interactive Brokers full-time for more than 3 years

    Pros

    Good food, people here are very nice. very stable job, endless work.
    A lot of work is a good thing, then, you won't get fired.

    Cons

    So tired. Talking with customers all the time is very exhausting.

    Advice to ManagementAdvice

    it is better to give employees some time to communicate. Working is just too busy all the time. No time to talk with coworkers. Should have some happy hours time.

    Doesn't Recommend
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  5. 3 people found this helpful  

    pure evil management

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

    I have been working at Interactive Brokers full-time for more than 10 years

    Pros

    they give decent pay, but it is only worth it if you are starving or homeless. You'll be happier packing bags at a grocery store.

    Cons

    if Hitler had a company, this would be it. They hire great people, but they can't retain them for long. There is a constant revolving door. The management makes it clear that they don't care what happens to the company or their customers as long as they cash out. The technology they use is decades behind since their senior staff are all old school and information only flows from the top downward. You will learn no current useful transferable skills but get really good at 1990's style technology. If you have a conversation for more than 5 mins with a coworker you get disciplined. They hire mostly immigrants on low salaries and promise them green cards that never come, turning them into indentured servants. Sadly slavery is very effective economically and this leads to great profits for the billionaire CEO and his closest minions.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Interactive Brokers Response

    Aug 25, 2014SVP Software Development (Milan Galik)

    Thanks for your feedback.

    Interactive Brokers is committed to its employees’ growth, professional development, and quality of life – commitments that foster both job satisfaction and job security
    ... More

  6. 2 people found this helpful  

    linux admin

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Linux Administrative  in  Greenwich, CT
    Former Employee - Linux Administrative in Greenwich, CT

    I worked at Interactive Brokers full-time for more than 3 years

    Pros

    not afraid of new tech. Very clever co-workers

    Cons

    could have shared more profit

    Advice to ManagementAdvice

    fix the inter-department rivalries as they hinder and are useless.

    Recommends
    Neutral Outlook
    Approves of CEO
  7. 6 people found this helpful  

    Horrible! Real devils in here!

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

    I have been working at Interactive Brokers full-time for more than a year

    Pros

    There is some really good engineering work being done

    Cons

    - No internet at all. Not even restricted/moderated internet. You cannot get a glimpse of what is happening in the outside world from morning 9am-6pm for a near 365 days a year. In today's world, this is like stringing up a person without allowing air to breathe.
    - Adding to the internet policy, the culture is one of the worst. The managers are horrible with absolutely no humane feelings. They expect you to be like slaves, no question asked, no issue raised against your head. With the internet policy, I feel people who work for a few years will loose any sense of emotion and become extremely apathetic. People this will have very adverse affects on your personal lives. So please read this and do not take an offer at this company even though the money they give is somewhat above the average market value.
    - The head of the one of the departments even sometimes makes this explicit when hiring you: "Being social is not good in the company". So not take this lightly. The culture will drain any life from you. You work in the company for 10 years and not know anything about the guy sitting next to you.
    - H1B/Work visa permit holders... READ THIS!!: They only give 10 days of vacation for the whole year for the first 5 years! Yes just 10 days a year! So, you will have no time to prepare for interviews leave alone actually interviewing with companies to get out of the place if you don't like the culture. I have seen many people who are stuck there because of this situation. This will drive you crazy leading to many psychological problems.

    Advice to ManagementAdvice

    Give your employees internet if they need. You can give them the tradeoff of reducing their salary for having their internet monitored if security is a concern.
    Get a life guys. Treat your employees like they are humans and remember they have feelings too. They need to get a life where they can smile once they get home and not think about why they ever got stuck at this company.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  8. 3 people found this helpful  

    rigid management and culture

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

    I have been working at Interactive Brokers full-time

    Pros

    - some great engineers.
    - free lunch (at a cost)

    Cons

    - free lunch at the cost of your lunch break.
    - no growth and they don't care. same sh*t everyday.
    - rigid management. you better be a machine that functions only to finish tasks.
    - expect to work all time. eyes on you.
    - don't expect help or communication. they are non-existent.
    - many more....

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9.  

    Time will tell

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Interactive Brokers

    Pros

    salary is competitive to market

    Cons

    expect to spend a majority of time there

  10.  

    simply wonderful place to work

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

    I have been working at Interactive Brokers full-time

    Pros

    great place to work. righteous mgmt. challenging stuff.

    Cons

    not much to speak of

    Advice to ManagementAdvice

    keep doing what you are doing

    Recommends
    Positive Outlook
    Approves of CEO
  11. 4 people found this helpful  

    Stay away if you are not desperate

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Greenwich, CT
    Former Employee - Anonymous Employee in Greenwich, CT

    I worked at Interactive Brokers full-time for more than a year

    Pros

    Health insurance better than at most large financial institutions
    Reasonable hours compared to many financial institutions (approximately 9-6, work through lunch).
    There are quite a few competent and pleasant people.. if only you could interact with them during business hours!..
    If you are a mediocre c++ coder, you will be taught a minimal standard that will make you better.

    Cons

    Low compensation, uncompetitive vesting schedules, unethical authoritarian management, substandard time off policy, and zero flexibility.

    Your kid is sick and you need to be 2 hours late? Either take 1/2 day off (you get 16 days of sick+vacation), or work two extra hours in the evening. You choose between seeing a sick child, and a chance of a vacation. Sick with a fever? Take a day off. I have seen a lot of sick people putting in the hours.

    The employer is likely to stick to the letter of the job offer - so read it carefully, and make sure you understand what you are signing.

    There is no room for professional growth and upward mobility.
    You are assigned detailed projects (specs) by your manager, and are given no freedom in their execution. The "managers" call and treat all employees as 'programmers' - it is irrelevant that you were trained as an engineer of a scientist. You will be coding to a spec, no matter what.

    Your manager is your final arbiter. There are some "managers" who cannot stand up to their boss when issues arise. As an alternative, they blame their reports for failures (note the spec part above!), and repeatedly get their reports fired. The upper management did not question this pattern until a handful of people went the revolving door.

    Interaction with anyone is discouraged. You are paid to type, not to talk.

    And never, ever should you offer your opinion. Even as you walk in and see that certain areas are 2-3 years behind competitors - stay mum - IB managers already know that they are the best. Your input will get you nothing but trouble.

    Advice to ManagementAdvice

    Get modern management training.

    Learn to respect your employees and show it.

    Bring time off/sick leave policy in line with competition (3-4 week vacation, 1-2 weeks of sick leave). Bring deferrals in line with competition (0-30% for most, 2-4 years). Bring comp in line with competition. You are no longer paying well enough for people to disregard the issues. Your most desirable employees are snatched by competition. Who do you think is staying?

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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