Macquarie Group Reviews in New York City, NY

Updated August 23, 2014
Updated August 23, 2014
280 Reviews

3.1
280 Reviews
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Macquarie Group Managing Director and CEO Nicholas W. Moore
Nicholas W. Moore
118 Ratings

Review Highlights

Pros
  • Also, work environment is great - smart peers and work-life balance is definitely apparent (in 25 reviews)

  • Great people, comfortable work environment, you really feel like you work for a top notch company here (in 25 reviews)


Cons
  • You may get some work-life balance in some offices but not generally not in Asia (in 21 reviews)

  • Long hours - forget about having a family life; (in 18 reviews)

More Highlights

46 Employee Reviews Back to all reviews

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  1. 1 person found this helpful  

    This is an open, friendly environment unlike most in its industry. They put a lot of energy into fostering their people.

    Current Employee - Intern  in  New York, NY
    Current Employee - Intern in New York, NY

    I have been working at Macquarie Group as an intern for less than a year

    Pros

    Good training opportunities, Cafeteria with a selection of free food, and great people to work with

    Cons

    It takes effort to make the work-life balance work for you. But I have only been here a short time and have nothing bad to say about the company

    Advice to ManagementAdvice

    It would be nice to have better continuing education/ tuition reimbursement

  2.  

    Smart people, used to be much better, going through changes

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

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

    Pros

    The people when I joined were really smart and friendly; the bank had some goldern years where they attracted top talent. Pay was decent, not amazing. During the growth period everyone was very motivated

    Cons

    After 6 years of not getting bonuses like everyone used to people have become very miserable. The smartest people left and the others in charge now see to not be making the best decisions...not awful decisions. But the innovation levels have dropped. The staff there are not as happy as it used to be

    Advice to ManagementAdvice

    Value your key people...the turnover of great staff has caused the morale of people left to be lower..this needs to be fixed

    Recommends
    Negative Outlook
    Disapproves of CEO
  3. 1 person found this helpful  

    Not a good place for career growth

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

    I have been working at Macquarie Group full-time

    Pros

    Relaxed culture compared to many Wall Street banks
    Nice kitchen and office facilities
    Hours are much better than many firms
    4+ weeks of allocated vacation a year

    Cons

    Generally, the firm is often dysfunctional and does little to improve the issues that it has faced over the years, including:

    Lack of dealflow - there are very few senior bankers with strong client relationships
    Poor leadership and senior management that is near-sighted and does not do enough to retain talent
    Compensation, while slightly improving, is still considerably lower than where it should be
    Junior resources - generally much less talented than peer firms
    High turnover - due to the aforementioned issues

    Overall, not a good firm for career growth or opportunities for development

    Advice to ManagementAdvice

    Exercise better leadership and properly address the many operational issues within the investment bank

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5. 2 people found this helpful  

    Relaxed culture but embarrassingly low comp and weak reputation

    • 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 Macquarie Group full-time for more than 3 years

    Pros

    Macquarie's culture is great - people are really nice, and the smaller size of the firm in comparison with other banks means you get a lot of support and responsibility quickly. Also, they pick great venues for Christmas parties and Aussies can really drink the bar dry.

    Cons

    The compensation is well below normal for Wall Street. This place apparently used to pay big, but definitely not since 2009 (except if you're a senior hire from another bank, in which case you collect a fat guarantee then leave once it is over). Also, Macquarie is only known in certain sectors to be any good (infrastructure, commodities). If you want to make a move to better bank or to a reputable fund, it will be hard.

    Advice to ManagementAdvice

    Pay attention to and reward the actual money makers and stop wasting resources on expensive useless outside hires. Also invest more in IT. Seriously.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6. 2 people found this helpful  

    Steer clear of this firm, it is not worth your time and effort

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

    I have been working at Macquarie Group full-time for more than 3 years

    Pros

    - Flat office layout, management and other staff are pretty accessible
    - Well-stocked kitchen and lounge area, can always eat breakfast at the office before work
    - Friday beer o'clock is a good way to socialize with colleagues and get to know the office
    - Exposure to buy side transactions, which can be useful for future exit opportunities, especially in the infrastructure space. Many former MD's and VP's of Macquarie in the U.S., Australia and Asia have established their own funds, which seem to have more of a PE-shop style culture and structure.
    - Regional conferences in cool locations (Spain, Greece, Australia etc.) but these are a thing of the past due to cost cuts and the overall realization that they were just large debauchery conventions where nothing of any business substance was ever accomplished.

    Cons

    - Macquarie is struggling to re-position its business model in the United States. Pre-2007, they excelled in the purchase and fund management of infrastructure and related assets/businesses. Pay was attractive due to lucrative fees earned in the process. However, that business model essentially broke down due to poor performing investments and the inability to raise additional equity capital to support the existing headcount and model in place. Babcock & Brown, which was a smaller version of Macquarie went bust in 2008. Macquarie was able to survive since it is a bank and had other lines of business to cushion it in the downturn. Since 2007, Macquarie pivoted by focusing more on 3rd-party M&A advisory, first by purchasing Giuliani Capital Advisors, which was a complete waste (most left or were let go within the first year post-acquisition)
    - Australians vs. the non-Australians (mostly Americans). Noticeable bias towards expat Australians when it comes to management decision making and layoffs. This culture has degraded morale and stands in the way of the US franchise ever being able to make headway in the U.S. market. The Australians do not seem to understand the importance of hiring and retaining good local American talent. The result is that they have to overpay for mediocre talent from other BB banks that ends up leaving after a couple of years once they understand the culture.
    - The belief that they can excel as PE investors in the U.S. Many of their key investments/buyouts such as Indiana Toll Road, Spirit Finance, Express Energy, Advantage Rental Car, Smart Cart, AirServ etc. have performed poorly and in some cases gone bankrupt pretty quickly. Express Energy was purchased at the height of the energy boom in 2008. A couple of investments have performed well but the BAD ones outweigh the GOOD ones, which is the main reason why they can no longer raise much external equity (and are restricted to their balance sheet). Any attempts by them to manage companies has been a failure because as excel crunching bankers they do not have an operational bone in their body, except for a few people on their fund management side.

    Advice to ManagementAdvice

    Cut staff and stop trying to compete head on with BB's and leading boutique banks in the US. Focus on your key strengths. Most of all, reduce the reliance on expat Australian management staff and reduce the micromanagement from Sydney.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 1 person found this helpful  

    Intelligent staff, lots of silos, entrepreneurial culture, too conservative

    • 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 Macquarie Group full-time for more than 8 years

    Pros

    Always trying to grow, interesting niche businesses, people are very smart, can progress quickly if you do well, lots of opportunity to move between businesses and countries, safe balance sheet company no going anywhere.

    Cons

    The entrepreneurial culture leaded to people working in silos. Can create problems such as disorganized interactions with clients which looks unprofessional.
    A little overly conservative. Too much power given to risk management function.
    Systems are terrible as a result of growing fast and under-investment.

    Advice to ManagementAdvice

    If you are too conservative, the company will not grow.
    Spend more money on systems.
    Don't hire people who are not adaptable.

    Recommends
    Neutral Outlook
    Approves of CEO
  8.  

    Very Sydney-centric culture, not global or forward thinking despite the tagline.

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

    I have been working at Macquarie Group full-time for more than 3 years

    Pros

    Very smart people with strong work ethic.

    Cons

    Too much outsourcing and very little autonomy given to the regions. One-size fits all approach across the regions, which doesn't work for a global firm. When someone leaves, rather than replace them, they make the rest of the team do more with less. No raises for years and nominal bonuses. WAY behind on technology.

    Advice to ManagementAdvice

    Staff up and take a more global view. One size does not fit all. Allow the regions to operate in a manner that makes sense for their region and make decisions without everything having to be approved by Sydney. Improve technology.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  9. 3 people found this helpful  

    Executive Assistant for 2 Managing Directors and 6 other direct reports. Organize meetings, client dinners, and travel.

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

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

    Pros

    Salary is competitive but on a low scale. The executives I support are appreciative and down to earth.

    Cons

    Growth potential for Executive Assistant's isn't a priority. Technology needs to be more of a priority,

    Advice to ManagementAdvice

    I would advise them to value the Executive Assistants who go above and beyond in their reviews either monetarily or providing them with skill building classes.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    Striving for profit completely overshadows the human aspect of the company culture

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

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

    Pros

    It's really impressive to see a company run like a well-oiled machine. The company strives for profit and excellence in every area it does business in and brings out the best in the employees. You feel special and privileged to be selected to work there.

    The majority of people are really smart, hardworking, dedicated and interesting. There is a big emphasis on the team work while being accountable for your own assignment. You are not micromanaged and have a great deal of autonomy and decision making ability when working your projects. The management believes that if you are there, you are competent enough to get the job done.

    Cons

    The human aspect of the company's culture is lost as the company strives for profit. Under-compensated hard work and loyalty are not going to get you anywhere - the company's philosophy is that everyone is replaceable and disposable. Regardless of your past contribution, efforts and/or potential, if you no longer fit into the big picture of profitability, you are disposed of.

    The atmosphere can get very political (like in many other places, probably). If you are not liked by the right people, no matter what your productivity level is, you are not going to get far.

    Advice to ManagementAdvice

    Reward high performers based on the actual performance, not the office politics. Acknowledge individual contributions and make your employees feel like they are actually valued and are a part of the success. Acknowledge the importance of support functions such as HR, Finance, etc - they make it possible for everyone to run the business as smoothly as it currently is.

    Recommends
    Neutral Outlook
    Disapproves of CEO
  11. 1 person found this helpful  

    It has its ups and downs.

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

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

    Pros

    They pay well but are becoming unreasonable with how they manage costs and budgets.

    Cons

    Historically, Macquarie pays very well and has very low turnover rates. They knew how to make you feel loyal to the company. However, senior management is being increasingly tight and is souring the culture of the bank. People are not happy and morale is very low. They seem to care about a single penny more than they care about their employees. A lot of key people in the IT department have already left or are looking to leave.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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