IntercontinentalExchange

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IntercontinentalExchange Reviews

Updated March 1, 2015
Updated March 1, 2015
49 Reviews
2.9
49 Reviews
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IntercontinentalExchange Chairman and CEO Jeffrey C. Sprecher
Jeffrey C. Sprecher
27 Ratings

Employee Reviews

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  1.  

    Depressing Truth About IFUS Market Regulation

    • 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 IntercontinentalExchange full-time (more than a year)

    Pros

    - Benefits are fairly good (Company matches 401K up to 6% w/ no vesting period, Restricted Stock Unit plan, base salary, etc.).
    - It's a decent entry-level job, and a fairly well-known company to have on resume.
    - Workload is very manageable.

    Cons

    - Little to no chance for advancement. Ways to get promoted are the following: (a) If you're on a good buddy-buddy system with management; (b) You're an attorney; or (c) You come from energy-related entities like the FERC.
    - Type of work that gets done becomes boring after about a year or so. Tasks become highly mechanical/administrative.
    - Your opinions and aspirations are of no concern to management. If you don't do as they say, you get ridiculed. Only management and closest confidants (or those that suck up to them) get all the positive benefits.
    - Management and closest confidants do not hesitate to shame and ridicule people to a point where it's downright offensive.
    - Very cliquey. The group favors attorneys, and those that aren't get treated differently. Also, management act like jocks and just seem to bully around whoever they feel like treating as such (and closest confidants seem to just join in like gang bullying).
    - Overall atmosphere and culture of the company (in addition to the group's) is saddening and depressing. Feels too corporate and mechanical. Best analogy of the company is where it's all glitzy and glamorous on the outside, but on the inside it's no different than a plantation of the south during pre-Civil War era where the few people up at the top treat those below like slaves, and those below either have to be a suck-up and try to get by or be different and get bullied.

    Advice to ManagementAdvice

    No advice. Management and the company doesn't seem to be capable of understanding the frustrations of me, as well as that of all the other people that have posted on here.

    Money isn't everything. There's more to this life than trying to lure people in with financial perks. And this company has taught me a valuable lesson, the hard way, that when you get attracted to money you have to think about what else you're giving up. And in my case, I saw that I gave up my passion, my spark, my joy, and me as a person by coming to this company; I feel like I have become a completely different person by being here. I sincerely regret working for the company thus far, and I hope to move on soon to a place where I can find my passion again and live like a person, and not some piece of machinery.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 4 people found this helpful  

    Its a Shanghai sweat shop

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

    I worked at IntercontinentalExchange

    Pros

    The business is a good one to get into .

    Cons

    Very poor company , make lots of promises on bonus but never fulfill them , expectation is the work 9 hrs and go home and work some more . If you do some side work for your own knowledge it is discouraged completely . They give u rsu ( restricted stock unit ) every year as part of bonus and only 33 % gets vested , if you dont obey what they say they will let you go and keep the stock . They lawyers in this company are very smart and cover all the grounds so no one can sue them .SO BE VERY CAREFULL

    Doesn't Recommend
    Negative Outlook
  3. 2 people found this helpful  

    1950s policy towards women

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

    I have been working at IntercontinentalExchange

    Pros

    Good bonus program, good benefits

    Quality work if you can keep up with the pace.

    Cons

    Little if no work from home policy, the immature CEO seems to treat women the same way they were decades ago.

    We do wonder, what's next? Should they bake a cake? Iron a shirt?

    Where is your approach towards a modern woman that wants to balance work and her family?

    Advice to ManagementAdvice

    You get a one star on the issue of the treatment of women alone. Modernize your thought process.

    Recommends
    Neutral Outlook
    Disapproves of CEO
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  5. 5 people found this helpful  

    A very depressing place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Manager in Atlanta, GA
    Current Employee - Manager in Atlanta, GA

    I have been working at IntercontinentalExchange full-time (more than 3 years)

    Pros

    The company has grown quickly with the help of Wall Street and its stock price has done well up to now.

    Cons

    The company is essentially a private equity firm. ICE buys other companies and guts them. There is no desire to build a real company or create an environment where great things can be accomplished. The main goal is to generate great wealth for the C level officers. The most important goal is to make sure the stock pickers are happy with the ROE at the expense of everything except senior management compensation. There is no culture, no goal of making ICE a great company. The management team is very weak with little or no experience in the financial services world. Outside experience is not valued. Because ICE can buy companies and fire the key staff of the acquired firm, senior management comes to believe that they are good at what they do. There is an ivory tower where the five or six top executives make all the decisions without input from others. Because the stock price does well, ICE management doesn't see any reason to change to make things better. There is no innovation, only imitation of what competitors do. If you are lucky enough to be a friend of the CEO or other key officer, you will be offered a good position with great compensation and benefits. The weakness of the management team and lack of desire to make ICE a real company will eventually have significant negative impact on the future of the company.

    Advice to ManagementAdvice

    Sell ICE to a company with a first rate management team that is qualified and passionate about building a truly great company. Don't make the rest of the company suffer to further increase the wealth of 5 or 6 people. Stop raising fees for no reason to customers. In fact, start caring about your customers. Your monopoly will not last much longer.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 2 people found this helpful  

    Not a nice experience

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

    I have been working at IntercontinentalExchange full-time (more than a year)

    Pros

    Global company
    Newly refurbished office
    Good on site facilities
    Close to London transport

    Cons

    Management unapproachable, rude and ignorant. No communication or support.
     Negative culture - acknowledged but never addressed.
     Headcount turnover through the roof, resulting in the constant (monthly) replacement of talented staff
     This then impacts team morale which is already low. Poor work/life balance due to feelings of stress.
     No room to grow, no perks (like a friendly office, flexibilty, team bonding), no office atmosphere at all.

    Advice to ManagementAdvice

    Sadly employees will continue to be unhappy through the duration of their employment unless management wake up, start addressing historic cultural issues and start to care about their staff .

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7. 5 people found this helpful  

    Emotionally, Spiritually and Physically Draining

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in London, England (UK)
    Former Employee - Anonymous Employee in London, England (UK)

    I worked at IntercontinentalExchange full-time (more than a year)

    Pros

    The benefits
    Location
    Cash rich and successful

    Cons

    Very high turnover which is not questioned
    Leaders lack leadership skills
    Management do not care for your well-being
    The London office is full of bullies
    Staff are so unhappy
    Old management style
    They have an awful culture and have no values unlike other organisations within financial services.

    Advice to ManagementAdvice

    Take your leaders on a management training course and show you care about your employees! Transform your HR department.

    Doesn't Recommend
    Neutral Outlook
  8. 4 people found this helpful  

    Toxic

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

    I have been working at IntercontinentalExchange full-time (more than 8 years)

    Pros

    compensation is good.stock options are good.free food is good.

    Cons

    growth of employees is stunted especially if ICE acquires company1 and if the company1 employees are not trusted and allowed to grow,it is mutual distrust till the employee is let go due to marginalization.

    Advice to ManagementAdvice

    talent needs to be appreciated even if it comes from the acquired company.

    Positive Outlook
    No opinion of CEO
  9. 1 person found this helpful  

    Potential of good salary with no work life balance. (ICE Chicago)

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

    I worked at IntercontinentalExchange

    Pros

    This review is for IntercontinentalExchange Chicago, formally ICE Clear Credit. There is great potential for above average pay no matter what experience level. The company has very talented individuals that are dedicated to their jobs, especially in the technical domain. The office is very clean and there are great views to the chicago skyline.

    Cons

    This review is for IntercontinentalExchange Chicago, formally ICE Clear Credit or ICE Trust (Credit Default Swap Clearing house for ICE).

    There is zero work life balance; long days and regular weekend work are expected. There is an incredible amount of attrition caused both by employee choice and personal management issues on very small development teams. Several inexperienced managers hired by upper management friends especially in the technology area, this should eventually improve over time as the attrition and overall employee dissatisfaction continue. The review process is one directional with little opportunity to provide upward feedback. The code base is currently broken in two with a large monolithic J2EE application, PERL scripts, minimal unit tests and a second progressive version authored as dozens of interdependent projects. Innovation is defined as revisioning obsolete systems into somewhat modern architecture.

    Please read the other review of ICE Chicago 2010 as it is still completely accurate as of 2012. Expect the same attrition throughout the year.

    Advice to ManagementAdvice

    Evaluate suggestions objectively, treat individuals equally, and focus on retaining talent.
    I believe there is a strong opportunity for the teams to be highly functional out of respect and unity as opposed to tyranny.

    Doesn't Recommend
    No opinion of CEO
  10. 4 people found this helpful  

    Lot of room for improvement

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

    I worked at IntercontinentalExchange

    Pros

    New bright/clean offices. Nice co-workers, some good managers. A potential opportunity to learn about Credit Default Swap Clearing business (just clearing, not trading/pricing) from the leader. Some interesting new technologies mixed in with the '80s Perl code. Lively office location/neighborhood (albeit slightly inconvenient for suburbanites). Good discounts at some local restaurants. Occasionally Hollywood movie filming in the area.

    Cons

    *This review specifically applies to "ICE Trust LLC" which is the OTC Credit Default Swap clearing house for the Interncontinental Exchange.

    This employer exhibited some red flags when several senior people left in 2010 after only working there a few months (< 6 months on average). Notable departures include a Senior Software Engineer, Systems Analyst, QA Lead and one (of two!) DBA. As this is only about a 40 man team, the overall level of attrition was disturbing.

    ICE TRUST sold itself as a growing company with a need for "senior" people which turned out to be rather false as new ideas were rejected or at best shelved "until later" as impossible deadlines kept the focus on things that needed to be done yesterday. ZERO work-life balance. Technologists were routinely working on the weekends to release software to Production. The good engineers were (privately) praised for working round-the-clock Citadel-style. In fact the pace of change proved too rapid and the group ended up making some costly mistakes and was put on "timeout" by Atlanta management. Some serious inter-group dysfunctions, in particular their Quants would rather not work with anyone outside of their Ivory Tower which was quite contradictory to my experience with Quants at other financial institutions. Overall their SDLC and other methodologies were weak and fragile as compared to my previous financial employers. Code was branched ad nauseum, very scary situation. They were forced to bifurcate their system in order to gain first mover advantage in 2009 and a looming high-risk code merge awaits them in 2011 (more off-peak work hours for sure). QA team seems completely marginalized as are their other analysts, I would be surprised if half of them didn't quit in 2011 post-bonuses. The performance of a software team can be partially ascertained by the relative contribution of their non-developer auxiliary teams. As such this place gets a D minus though it's NOT the fault of those individuals, they are smart and work hard. Rather, something completely fundamental is broken and the tail is pretty much wagging the dog here.

    Management quality varied greatly. Overall managers tended to focus on "managing up" rather than growing and coaching their own team. It was hilarious watching people scramble to enter their *2010* career goals in the month of DECEMBER (at the END of the year)!! ICE offers ZERO tuition reimbursement support, quite unlike their cross-town competitor (CME Group) and other major financial institutions in Chicago. At ICE TRUST it seems "Career Development" = "What have you done for me lately?" If you're considering going to ICE Trust, CONSIDER ANOTHER COMPANY!! You've been warned.

    Advice to ManagementAdvice

    You have managed to achieve a level of success but need to really reflect on your core values and methodologies if you intend on elevating your organization to the next level. Good luck in 2011 (esp. after bonuses are paid), surely things can only improve. As one of your departing technologists said it best, "this place needs more 'Indians' (i.e., low-level workers), not Chiefs."

    Doesn't Recommend
  11. 1 person found this helpful  

    Extremely political environment in technology

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

    I worked at IntercontinentalExchange full-time

    Pros

    Great small product management, dev and qa teams working together to make great products. Interactions within and between teams were friendly and professional. People in these teams are extremely knowledgeable and intelligent.

    Cons

    The pros are before the CDS Clearing House came under new technology management for both US and EU. Tech management now sows discord amongst teams and makes up lies about people. Micro-manages everything while knowing nothing. A classic functional narcissist. Also picks favorites regardless of performance and punishes any ideas outside of his "vision". Intra and inter-team cooperation was at an all time low when I left.

    Advice to ManagementAdvice

    It's the people who work that drove ICE from a small startup to what it is today. Don't let career bureaucrats ruin the solid platform that is successfully running ICE CDS clearing. This tech management leader is a typical example of a career bureaucrat who cares only about climbing the corp ladder while destroying the teams that have so far worked so well together in his political manipulations.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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