Liquidnet
2.7 of 5 54 reviews
www.liquidnet.com New York, NY 150 to 499 Employees

Liquidnet Reviews

Updated Jun 13, 2014

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2.7 54 reviews

                             

33% Approve of the CEO

Liquidnet CEO and Director Seth Merrin

Seth Merrin

(43 ratings)

38% of employees recommend this company to a friend
54 Employee Reviews
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Review Highlights

Pros:
  • "Good personal life/work life balance"
    in 7 reviews
  • "Great people and culture, fantastic core product"
    in 8 reviews
Cons:
  • "Ineffective, undisciplined senior management who would even have destroyed Apple"
    in 7 reviews
  • "Poor career growth, be prepared to be stuck in the same role for a long time"
    in 3 reviews
  • Show more review highlights

Reviews

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    • Approves of CEO

    1 person found this helpful  

    Great Financial Company but there is risk of downsizing

    QA Engineer (Former Employee)
    New York, NY

    ProsGreat culture and focus on values. The organization is organized with different product teams. Each product team is functioned as start-up and treat other different teams as their clients. Employees are treated very well: free snack, drink, and frozen yogurt Friday lunch. They are also not afraid to pay top dollar for talents.

    ConsNo title and flat structure can be a double edge sword. Many decision are decided by community. Sometimes, it is hard to know who should have the final say.

    Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

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    2 people found this helpful  

    ride off into sunset

    Anonymous Employee (Current Employee)

    ProsAs mentioned by many - life/work balance, nice perks.

    ConsTired product that hasn't changed much since the big reveal. Incremental improvements are rejected time and time again as management keeps hoping to come up with "iPhone" of the trading. Volumes steadily decline while would-be saviors are brought from outside or yes-man are promoted within. Somehow neither know much about the product, market structure or where the industry is going. All praise the management though.

    Advice to Senior Managementgo the BIDS route, steadily improve the product opportunistically taking the advantage of changes in the market. Oh, and promote people who can deliver the above as opposite to promising the moon.

    No, I would not recommend this company to a friend

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    2 people found this helpful  

    It's too bad, really...

    Anonymous Employee (Former Employee)

    ProsSolid core product. Excellent buy side community development. Good benefits and work life balance.

    ConsOverall leadership is lacking and they are losing key developers and employees as a result.
    They got lazy and stopped innovating and products and ideas are stale.

    As for senior and mid level management, everyone is starting to look alike. There is practically zero diversity and lots of politics for such a small firm. Not the place to work if you are a woman.

    You better be someone's favorite to stay and get promoted.

    Advice to Senior ManagementStart over. You had a great idea and it worked and worked well. Go back to basics and remember what you are good at, stop trying to be everywhere and everything, simplify and diversify. But do it fast before you lose any more ground.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    3 people found this helpful  

    Long hours

    Analyst (Former Employee)
    New York, NY

    ProsFree lunch every Friday. Free snacks and drinks every day including beer. Frequent company social events. Aside from that, they did have very good technology.

    ConsRidiculous long hours with no consideration for work-life balance. Management does not know how to lead and can be unprofessional.

    Advice to Senior ManagementTrain your managers in soft skills and hire enough staff without relying on interns that do not have the proper incentives to care.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    8 people found this helpful  

    A sitcom in reruns

    Operations (Former Employee)
    New York, NY

    ProsCasual atmosphere with a plenty of interesting small projects. Not a lot of pressure from management over the long term tech vision. Good perks, beer, lunches, activities.

    ConsBenefits are lagging behind others. Not a whole lot of focus on important small tech issues that help the business, mostly focused on visible ones that get the same people mentioned at meetings. Never seem to be heading in one direction, kind of like in a circle. Focus on the core business isn't there, which is really puzzling to me. Over staffing and turnover continues to be a major problem across all departments, especially the non-revenue producing ones. No real career prospects, not that anyone wants to be part of the management team anyway.

    Advice to Senior ManagementI'd like to see you focus on getting the business back. Employee shareholders have gotten beaten up and it doesn't look like they'll ever see liquidity, an IPO is out of the question now that we have junk rated debt. You can reprice options all you want but is anyone ever going to exercise them? I think our competitors focused on their business while Liquidnet tried to get into new businesses and now that equity trading is starting to come back, we're hardly seeing any pick up in the business. The new businesses haven't added anything except cost, bad press and tech issues. During those rare occasions where the negotiation business does get some focus, it quickly dissipates because we have to do something to get us press.

    If the CEO thinks his current management team are helping him, then he needs to have someone take an unbiased look for him at what they have done for him. You state publicly you listen to your employees but thats not the truth. Our core values have been completely ignored maybe we should add a new one, like "Does not apply to the Executive Committee".

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    8 people found this helpful  

    My group turned into High School at some point

    Anonymous Employee (Former Employee)

    ProsThis was definitely a great place to work when I started. Smart people, great technology, and passionate hard-working individuals. It was a great and inspiring environment to be in. There were few places that offered the benefits and compensation this organization did.

    ConsUnfortunately things devolved into High School where cliques started forming, bullying occurred, and great people were forced to leave. Certain managers just stood there and did nothing. As an adult you expect to be treated professionally and with dignity but for some reason despite their espoused values some managers did not want to see what was in front of them. In the end whatever good-will this firm generated was wiped out for those employees.

    Advice to Senior ManagementTrain your managers before you promote them. Don't promote based on and individual's likeability and how good of a headshot they take. Have real and measurable standards on promotions, raises, and project assignments. Setup a skip-level meetings. Things in your organization went downhill because you had no mechanisms in place to know what was going on in your organization or you chose to ignore that information.

    No, I would not recommend this company to a friend

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    8 people found this helpful  

    The Polaroid of Wall Street

    (Former Employee)
    New York, NY

    ProsGood Location in NYC Garment District allows you to commute into Penn Station or across town from GCS everyday. Not that complicated a place and a rather simple product. Technology is pretty simple and occasionally there are some fire drills when something goes wrong but it is quickly forgotten about. Easy to stay under the radar and as long as you avoid trying to break into management you should last a long time.

    ConsThe constant management changes are a bit hard to get used to, some people go through a number of Supervisors in a very short period of time. They try to say they are different but they act more like a big company than they would admit. Striking amount of wasted departments, like GTE. This is their Human Resources group which is bigger than some companies that are ten times larger. Its a bit of an inside joke there, and though they are nice people, everyone seems to point to this as one of the reasons morale is so bad. Twice yearly reviews take up a lot of time which can be better spent. The biggest con is that there is nothing new or innovative coming out of there for over a couple of years now. So while it sounds like an innovative company, it really isn't. Their product is was developed when cell phones still had antennas, while that industry has evolved, these guys still make the same thing.

    Advice to Senior ManagementThe strategy in place and the business model being followed are failures,you really should sell the company. The unpopularity of the CEO and other Executive team members is startling to say the least, no one thinks they know what they are doing so get rid of them. The new COO has had a year to make changes and so far his changes have resulted in less business. He is very negative so its hard to understand what his plans are, either articulate a good idea or leave. The last round of layoffs was a joke, morale is bad and getting worse. No raises for years, and now we hear bonuses are not going to be paid. The Technology is worn and outdated and the stagnant industry isn't helping.

    We all see the CEO in the press but it hasn't helped the bottom line. He can not run this company and has proven that he cares more about himself than his people. His more than decade old idea is tired, clients see that too and my feeling is all that press has hurt because when bad press hit we wound up having to defend ourselves and then the volume dropped. Its so bad we don't publish the volume anymore, and its going to get worse.

    Most places know that if you are losing money you cut unnecessary perks and change management . They do the opposite here, the smart people are fired and we have more overhead than ever. Not to mention our so called new products offer nothing new, they are copies of other firms with better more established models. It's the Polaroid of Wall Street, and we all know what happened to Polaroid.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    2 people found this helpful  

    great internship experience, but upper management unhelpful

    Analyst Intern (Current Employee)
    New York, NY

    Prosfun culture, nice people, lots of food and snacks. team was very smart and supportive. good intern program with seminars and trips

    Conssome projects took awhile to complete because of upper management, and overall team direction was unclear at times

    Yes, I would recommend this company to a friend

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    4 people found this helpful  

    Speechless

    Anonymous Employee (Former Employee)
    New York, NY

    ProsMany people are decent. Although many good people are gone.

    ConsListing all the wrong things won’t help. Because the majority of people actually have little influence (especially positive influence) on where the company is going.

    Advice to Senior ManagementAll the fantastic speeches on CNBC about revolutionizing trading industry, building one single global pool, triumphing over HFT and launching international humanity projects sounds virtuous, intelligent, innovative and fun. However, many of employees still care about some boring stuff like the company’s profitability because their job and pay depend on it. We all like fun, but many of us still need a job to bring some income home and we need to do that for many years before we can retire.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    10 people found this helpful  

    First fun, then kind of funny, now the joke is old

    Anonymous Employee (Current Employee)
    New York, NY

    Pros-Still some talented people left here; some great co-workers have survived the purges, ridiculous politics, and countless re-orgs without leaving in disgust
    -Fun events and generally casual workplace environment
    -Free beer/frozen yogurt/snacks
    -Good benefits (bonuses have dried up though)
    -No accountability! Don't worry about missing business goals or poorly executing projects. Just talk big in meetings (seriously, Liquidnet loves to hire talkers, not doers), get credit for your idea/plan, and then everyone forgets about it. Failed and unfinished projects/products are barely acknowledged and are quickly swept aside. Failure is often rewarded. So join us if you hate being held responsible for your bad decisions.

    Cons-Ineffective, undisciplined senior management who would even have destroyed Apple. Maybe the recent changes will help and the biggest culprit left in December, but it will be tough to undo years of poor business decisions made by unqualified managers.
    -No opportunities for career advancement; raises are few and far between.
    -No loyalty. It's a "what have you done for me in the last five minutes" culture. It doesn't matter how hard you work and what value you add, people will finger point and throw you under the bus in a heartbeat to make themselves look better.
    -The amount of non-revenue generating products/projects remains a colossal time suck.
    -Lack of strategic focus. We change direction seemingly every month, resulting in missed opportunities, half-baked business lines, and a lot of time wasted on ideas that will never pan out.
    -The fact that a glowingly positive review will pop up shortly after this one is posted

    Advice to Senior ManagementAdvice? People have tried to give them advice for years. Many of the previous reviews (non-planted ones) sum it up much better than this one so check them out. But management (not all of them) maintains a sphere of arrogance and delusion that both protects and makes them appear ridiculous, like they are rolling around in hamster balls. They may blame the stagnant revenue and underperforming business lines on a bad economy, but you know what a bad economy also reveals? Bad management.

    When talking about the inefficiencies of the industry, our CEO loves the quote: "The definition of insanity is doing the same thing over and over again and expecting different results." If only he would apply this to his own company.

    No, I would not recommend this company to a friend

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Glassdoor is your free inside look at Liquidnet reviews and ratings — including employee satisfaction and approval rating for Liquidnet CEO Seth Merrin. All 54 reviews posted anonymously by Liquidnet employees.