Interactive Brokers

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

Updated September 1, 2014
Updated September 1, 2014
43 Reviews
2.5
43 Reviews
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Interactive Brokers Chairman, President, and CEO Thomas Peterffy
Thomas Peterffy
31 Ratings

Employee Reviews

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  1. 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
  2.  

    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

  3.  

    solid job opportunity

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

    I worked at Interactive Brokers

    Pros

    decent salary and bonus. good perks (free lunch). solid benefits (health, dental, vision, 401K0. opportunity to learn.

    Cons

    there is minimal training. groups are understaffed, so there is a high work load for each employee and tends to lead to friction between employees.

    Advice to ManagementAdvice

    continue to hire new employees to grow staff as many groups are understaffed

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    great experiences with IB

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Programmer  in  Stamford, CT
    Former Employee - Programmer in Stamford, CT

    I worked at Interactive Brokers

    Pros

    relaxed atmosphere, helpful coworkers and good benefits. the staff is placed in an effective way, so everyone has to work hard

    Cons

    not sure about the location, the wait between interviews are so long. the initial test took about an hour to complete.

    Advice to ManagementAdvice

    hire people with better education background; make sure the interview process is more structured. otherwise, like the interview style and the general manner.

    Approves of CEO
  6. 2 people found this helpful  

    stable company hedged against turbulent downside but chronically running out of new ideas

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

    I have been working at Interactive Brokers

    Pros

    financially hedged against market turbulence because the nature of market making and brokerage business.
    Almost no politics. Everyone works hard. Manager is fair and straight in compensation.

    Cons

    Innovations from ground level employees are not encouraged. The only people that are eligible to do "thinking" are the few biggest shots at top management level.
    No communications, no incentive for cooperations. Lots of redundant and subpar work.
    Fetish with cost reduction and execution efficiency: penny-wise and dollar-foolish.
    Zero attention to employee's career development. No job title, no visibility in the profession circle. They want you to forever work there, which means slow death if the word 'ambition' still sounds good to you.

    Advice to ManagementAdvice

    Take a breath, put away petty meaningless product 'features', do some visionary thinking. Otherwise IB will be forever stuck with a 'low-cost' brainless muscle executor image. Well, not really 'forever', because labors in US is still lofty and competitors from around globe will catch up, just look at what happened to Timberhill's steady decline.

    Disapproves of CEO
  7. 1 person found this helpful  

    Non Political but not much room for growth

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

    I have been working at Interactive Brokers

    Pros

    Almost zero politics
    Job Stability
    Senior Management is Ethical
    A very competent CEO
    The timings are generally ok
    Decent year end bonuses

    Cons

    If you're committed to a stable job with very little growth prospects but decent pay and bonus, then this is the right place for you. For the more ambitious types and non-Eastern Europeans, look elsewhere.

    Advice to ManagementAdvice

    The Company is a one man show. If the expectation is global growth and expansion then opportunities need to be extended to non E European employees as well.

    No opinion of CEO
  8.  

    If you want to maintain the status quo and not be able to challenge anything, this is the place to be.

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

    I have been working at Interactive Brokers

    Pros

    Decent benefits except vacation days.
    You don't have to worry about politics.
    Senior management is very competent.
    The Company is very efficiently managed and is almost a guaranteed net income generator. Therefore, the stability factor is a big plus plus.

    Cons

    Vacation days.
    Little to no flexibility allowed.
    Little to no growth potential for non-programming staff.
    Very little (if any) cross communication.

    Advice to ManagementAdvice

    I don't think the management needs any advice as far as the bottom line is concerned. The Company consistently generates good revenue and has a great handle on managing the major costs. As far as employee morale is concerned, not sure if this is considered important at all - so why bother advising?

    Doesn't Recommend
    No opinion of CEO
  9.  

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Customer Service Representative
    Former Employee - Customer Service Representative

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

    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 ManagementAdvice

    Train 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.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10. 2 people found this helpful  

    Intense, originally challenging but later depressing and even debilitating

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

    I have been working at Interactive Brokers full-time for more than 5 years

    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 ManagementAdvice

    Not 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)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11. 3 people found this helpful  

    Show Me The Money

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

    I have been working at Interactive Brokers full-time for more than 5 years

    Pros

    The 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%.

    Cons

    You 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 ManagementAdvice

    These 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.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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