Interactive Brokers

  www.interactivebrokers.com
  www.interactivebrokers.com

Interactive Brokers Reviews

Updated December 14, 2014
Updated December 14, 2014
49 Reviews
2.9
49 Reviews
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Interactive Brokers Chairman, President, and CEO Thomas Peterffy
Thomas Peterffy
35 Ratings

Employee Reviews

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  1. 6 people found this helpful  

    Mixed feelings

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

    I worked at Interactive Brokers full-time (more than an year)

    Pros

    - SOME employees are very smart, very good at what they do.
    - Agree with other commenter that business is run in an ethical manner. ie. doing the right thing even if no one is looking.
    - Still on the cutting edge in some areas.
    - Minimal bureaucracy.

    Cons

    - Current incentive structure (no incentivization of employees) guarantees that the smartest and most motivated will leave. This is why HFTs ate their lunch.
    - Low pay relative to industry.
    - No growth opportunities.
    - Company is kept alive by H-1B slave labor.
    - Some groups are wildly incompetent (eg. HR, Marketing) due to perceived irrelevance by mgmt and these should be fired en masse.
    - Very anti-social office culture.

    Advice to ManagementAdvice

    Get a life? TP runs this as a hobby, and I can't imagine a more boring hobby. If you're not HUNGRY, or know how to hire/retain people that are, your failure is guaranteed.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  2. 2 people found this helpful  

    Its a miracle there hasnt been an office shooting there yet

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

    I worked at Interactive Brokers

    Pros

    They 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)

    Cons

    No 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 ManagementAdvice

    There 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.

    Doesn't Recommend
    Disapproves of CEO
  3. 2 people found this helpful  

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Treasury Analyst
    Former Employee - Treasury Analyst

    I worked at Interactive Brokers

    Pros

    The 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 ManagementAdvice

    First 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.

    Doesn't Recommend
    Disapproves of CEO
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  5. 6 people found this helpful  

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

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

    I have been working at Interactive Brokers

    Pros

    Decent 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!

    Cons

    Benefits, 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 ManagementAdvice

    None -- 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.

    Doesn't Recommend
    Approves of CEO
  6. 4 people found this helpful  

    pretty secretive and communist attitude, stingy with salary

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Quantitative Analyst in Greenwich, CT
    Former Employee - Quantitative Analyst in Greenwich, CT

    I worked at Interactive Brokers

    Pros

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

    Cons

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

    Doesn't Recommend
    Disapproves of CEO
  7.  

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

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

    I have been working at Interactive Brokers

    Pros

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

    Cons

    1, 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 ManagementAdvice

    In addition to money, try to be nice to you employees, do not just pretend to.

    Doesn't Recommend
    Disapproves of CEO
  8. 1 person found this helpful  

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

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

    I worked at Interactive Brokers

    Pros

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

    Cons

    This 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 ManagementAdvice

    haha...useless. It's Thomas Peterffy.... Take some value in the people who made you rich.

    Doesn't Recommend
    Disapproves of CEO
  9.  

    Horrific Work Culture

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee in Zug (Switzerland)
    Current Employee - Anonymous Employee in Zug (Switzerland)

    I have been working at Interactive Brokers

    Pros

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

    Cons

    no 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 ManagementAdvice

    none, consultation fees should be given to employees for such advice

    Doesn't Recommend
    Disapproves of CEO
  10.  

    Spontaneous mess

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

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

    Pros

    Salary, paid lunch, no strict work control, it's easy to talk to people, good location, learn about finance, work with smart people

    Cons

    Managerial disaster, no logical policies (in fact often no policies at all), no real way to move forward, extreme measures to keep you at the firm (you get your current year bonus split over the next 6 years, if you leave you lose the rest?? c'mon), no vacation days, almost impossible to express your opinion upwards (i.e. 'this is what you have to work with dude'), lack of creativity, lack of proper planning for anything (no idea what PM is), lack of communication between people (on same project?), work sometimes comes 'from the air', lack of organization, managers are not managers, but commanders, dull 9 to 5 job in many cases

    Advice to ManagementAdvice

    You can make people more dedicated with promoting creativity, clear rules of what is expected from them. Dare to be more generous with vacations, opportunities for promotions, education, etc. Communication is in really bad shape. Managers should manage, not command.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11. 2 people found this helpful  

    Hope You Like Working Under a Dictatorship

    • 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 (more than 10 years)

    Pros

    Acceptable Pay, Good Benefits, Job Security

    Cons

    Minimal pay increase at the end of every year, 22 days MAXIMUM vacation and sick time combined even after several years of service, no job growth, no time to yourself during the work day or lunch break, you can never work enough hours to satisfy management requirements, your opinion will never be valued. If you are OK with being micromanaged, being told what to do, how to do it, and to do it immediately on a daily basis while realizing you will never get anywhere in the company then this is the place for you.

    Advice to ManagementAdvice

    Welcome to Interactive Brokers where if you aren't on top, you mean nothing to no one. Senior management is severely out of touch with today's technological advancements and what customers are looking for from a brokerage company. This company seems to be frozen in the early 90s with little to no improvement in the trading platform, its design, or ease of use. Progressive movement to create original ideas to keep the company in business are consistently shot down. Customer service is also lacking to say the least. Management does not promote from within and hires individuals from outside sources who are not qualified for doing the jobs that are asked of them. Basically, if you know nothing of the position you are applying for, then you are perfect for the job! Culture is cut throat with senior management constantly fighting with each other over who gets to play in the sandbox with the president, with their behavior childish at best. Constant insults and name calling are common place at this establishment at all levels; where sophisticated dialogue utilizing every swear word in the English language are terms used on a daily basis to define a coworker or their performance. President of company also likes to force his political views on his employees to further his own agenda for the Republican party. Most senior management are from foreign countries and do not speak English very well, this makes it very difficult to understand phone calls and emails from them.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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