Investment Technology Group

  www.itg.com
  www.itg.com
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Investment Technology Group Reviews

Updated September 18, 2014
Updated September 18, 2014
69 Reviews
3.1
69 Reviews
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Investment Technology Group President & CEO Bob Gasser
Bob Gasser
12 Ratings

Review Highlights

Pros
  • Work-life balance is better than most but it means there is less work than really needed for the amount of people (in 9 reviews)

  • Good people - I know that's a cliche here, but the people are funny and fun to be around (in 4 reviews)


Cons
  • Doesn't seem to be clear direction from senior management (in 4 reviews)

  • There were not many roles that had potential for me to move into, and even in my own role, I had a hard time asking for more challenging work (in 2 reviews)

More Highlights

Employee Reviews

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  1. 1 person found this helpful  

    heads up

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

    I have been working at Investment Technology Group

    Pros

    Very laid back, easy pay

    Cons

    Constant restructuring, not a stable company

    Doesn't Recommend
    Negative Outlook
  2. 1 person found this helpful  

    Not organized, technically week company.

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

    I have been working at Investment Technology Group full-time

    Pros

    Good money, relative to others.

    Cons

    Unstable (fired a lot of workers in short period of time).

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

    Sinking ship

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee  in  New York, NY
    Current Employee - Anonymous Employee in New York, NY

    I have been working at Investment Technology Group

    Pros

    Decent hours, most people work 40 hr weeks and do not try very hard. Some groups are well respected on the street (TCA, Algos).

    Cons

    This company has been in steady decline over the past few years. Many of the lower level people are smart and capable, but are treated poorly (particularly tech people and programmers) with below industry salaries and no career path within the company. They rarely promote from within. They also have a bad habit of moving new hires to different groups than they were offered (front office -> middle/back office). Management is relatively directionless and blame the decline on volumes, but there is little sign of the company turning around. Big round of layoffs in July 2011 and likely more to come.

    Advice to ManagementAdvice

    Play to the strengths of the company and get a better sales staff to push the products. This is a technology company that doesn't treat its tech employees well, no wonder it's struggling.

    Doesn't Recommend
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  5.  

    Currently rebuilding and content with low quality workers and compensation

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

    I have been working at Investment Technology Group full-time

    Pros

    Easier work-life balance. Many new interns/hires recently graduated bring new energy. Allows the company to re-energize the company. Nice new office. Some benefits but mainly for the benefit of new hires (i.e. ends after the summer interns leave). Most status-quo old guard employees are gone. New exciting products in multi-asset to keep up with the industry.

    Cons

    Easier work-life as there is less work to do. People are slightly jaded or learned from existing culture to leave at 5.30pm, at the lastest. HR strategy to continually hire new interns to replenish whoever is able to leave is needed for that reason. They know people will leave so they overstock some groups prone to higher turn-over. They are content with letting smart people leave so they can replace with cheaper new hires. They are content to keep someone who does a request in 4 hours instead of paying more for that person who can think objectively and write a script that does it in 10 minutes. That is understandable if they don'y have the money, however, with this strategy they should keep the new hires as they move up in the company as they are still cheaper than the old employees they replace but they still do not pay anywhere close (~20+) away from market rate. Then that leaves a lot of low quality personnel who have no where else to go that stick around. Some "fake it until you make it workers" are still around but the company can help moral with better performance evaluations and actually tying performance to compensation. Then everyone will know those workers are paid according to their low work ethic. No more cronyism hires like a friend from college put in charge of a computer system with no programming experience. Those workers will never get fired as they're wiling to take their lower than average salary and HR will not fire currently as no layoffs appear to be on the horizon. Leaving these low quality people around bleeds into everyone else around them to lower their productivity. I know it has affected myself. No more real bonuses anymore. Only regular low single to low double digit % bonuses. Benefits always coincide with new summer interns. Everything disappears once they're gone. Nice new office doesn't mean much after the first month when you don't combine it with the auxiliary benefits that usually come with the startup/finance atmosphere - i.e. food,on-site gym,etc. "Volunteer" charity events are pseudo mandated for managers to set up. It is one thing to organize a charity with interested people, but another to try to "highly encourage" managers to plan an event and force feed collegial bonding. Software hasn't been updated in awhile. The software developers who designed the system in the late 90's are still around and haven't updated their programming skills. A lot of infrastructure built on old software that they are afraid and don't want to update for fear of losing their competitive advantage as experts for the system they built. Developers slow roll a lot of projects and over-sell how much work they really do.

    Advice to ManagementAdvice

    Add more benefits and compensation to high achievers. Fire the low quality people who fire fight issues bouncing from one hole to another rather than fix issues before they happen. Hire new tech or new technology management that know how to affect change. Bleeds low morale into other people after awhile when everyone figures out who the high and low achievers. If you can't/won't with the new normal bonus levels, add more "startup" benefits for everyone including gym, healthy breakfasts, lunches dinners, rewards such as basketball tickets for employees of the month or hockey or baseball game outing for a group with best successful project (that's how you do team building and incentivize if you don't have the money for bonuses), pay for career enhancing courses such as programming in new language or technology, any outings such as run clubs, softball, etc instead of just for new hires. Pay to keep the new hires. Waste to attract talented graduates and then let them leave after two years as they are smart enough and able enough to find another job. Replacing new hires with even newer hires is not the strategy. HR stuck in old HR schemes of asking brain teasers (how many jelly beans in the jar) as experience level of HR is younger. Old HR tactics such as exploding offers, time limits can be ignored, if the manager already picked you, high change that is an empty threat by HR.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    Just OK

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President Research Sales  in  New York, NY
    Former Employee - Vice President Research Sales in New York, NY

    I worked at Investment Technology Group full-time for more than a year

    Pros

    The atmosphere is relatively upbeat, at least on the sales & trading floor. A handful of smart guys sprinkled amongst a mix of fairly hard working younger people.

    Cons

    Not impressed with the leadership. Quality of the research product fluctuated wildly, although the energy research was consistently impressive. The legacy Majestic research has plenty of room for improvement.

    Advice to ManagementAdvice

    Cut the BS & politics out of the business and focus on being a top flight service provider.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  7.  

    a company going down

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

    I have been working at Investment Technology Group full-time for more than 5 years

    Pros

    flexible environment, 18-day vacation at start, nice colleagues.

    Cons

    Almost no bonus in the recent years.
    Upper managers are lack of vision of the market.
    Promotion and bonus is not related to your work contribution.

    Advice to ManagementAdvice

    You want to survive in this market, then you need to keep the talents by giving competitive compensation.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8.  

    Mid level firm with mid level quality people

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

    I have been working at Investment Technology Group full-time for more than 5 years

    Pros

    Work-life balance is better than most but it means there is less work than really needed for the amount of people. Steady earnings so less worry of layoffs in recent times. New office and some occasional benefits (plus since all the hard cuts and layoffs past few years from the recession). Interesting products and potential to engage in lots of products if motivated.

    Cons

    Compensation is a joke. Many groups over staffed and all over-compensated for the amount of work done. No accountability and transparency in how performance directly correlates with compensation. Mid-market firm competing with bulge brackets is at a disadvantage in a lot of respects.

    Advice to ManagementAdvice

    Continue with what they're doing for now - reduce costs. Compensate and directly correlate or provide benchmarks/ranges. Continue recruiting at more universities. Provide a better review system to weed out the last of the few remaining under performers (hit to morale to know that high compensation to under achievers)

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 2 people found this helpful  

    Corporate hell - think "Office Space"

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

    I worked at Investment Technology Group full-time for more than 3 years

    Pros

    Relatively laid back environment. If I were middle aged and just concerned about having a 9-5 that I didn't care at all about- not looking to learn anything or advance my career - but just get a paycheck and focus on my family - then ITG would have been great.

    Cons

    Where to start? Salaries are a joke. Raises/bonuses were non-existent for 3+ years (but they still seemed to have the budgets to do a complete 'rebranding' - all while laying off lots of people). There is very little communication or collaboration between departments. The prevailing attitude really seemed to be one of holding on to a degree of power/control over a minute aspect of the business in order to maintain relevance, then be free to take as long as possible getting anything done. Talent was not developed or offered means to move despite claims to the contrary. Innovation is a laughable buzz word at a company like this.

    Advice to ManagementAdvice

    Despite my complaints, the multiple rounds of layoffs were probably necessary given the environment over the years. That said, to combine that terrible morale situation with not giving raises, bailing on little things like paying for happy hours and then having the gall to spend money on a huge ad campaign and still have cap-x budgets lying around is just not the way to develop and retain talent.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  10.  

    Great experience until the new CEO

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Director Sales and Trading  in  New York, NY
    Former Employee - Director Sales and Trading in New York, NY

    I worked at Investment Technology Group full-time for more than 5 years

    Pros

    Worked with a great groups of guys. Lots of smart people, tools and products, until the new management.

    Cons

    Lack of leadership, high level of nepotism. Too many chiefs not enough workers.

    Advice to ManagementAdvice

    current management lack product knowledge. 1108 employee is too many, management is overpaid.

    Doesn't Recommend
    Negative Outlook
  11. 1 person found this helpful  

    Work on trading applications

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee  in  New York, NY
    Current Employee - Anonymous Employee in New York, NY

    I have been working at Investment Technology Group

    Pros

    Good exposure to trading system technology

    Cons

    Underpaid, work is under stress and less structured

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