Macquarie Group

  www.macquarie.com
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Macquarie Group Reviews

Updated Jul 22, 2014
All Employees Current Employees Only

3.1 270 reviews

61% Approve of the CEO

Macquarie Group Managing Director and CEO Nicholas W. Moore

Nicholas W. Moore

(114 ratings)

50% of employees recommend this company to a friend

Review Highlights

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

  • Working environment on the trading floor was challenging but very stimulating(in 24 reviews)


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

  • Management push staff to work long hours to cover for staff shortages and large workload(in 18 reviews)

270 Employee Reviews
Relevance Date Rating
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    • Culture & Values
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    • Approves of CEO

     

    Very entrepreneurial, good culture

    Manager (Former Employee)

    Pros1. Very entrepreneurial place where employees are encouraged to think big and push the envelop.
    2. Ability to take responsibility early
    3. Utilize the balance sheet when necessary
    4. Great brand, especially in APAC

    Cons1. Work-life balance can be difficult (depends on which regional office you are in. For the more established offices, expect typical bulge bracket hours.)
    2. Some offices can be a bit political (But expect this. The financial services industry isn't really growing...)

    Yes, I would recommend this company to a friend

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    Great people and great atmosphere

    Anonymous Employee (Former Employee)

    ProsTake care of their employers; senior staff was very approachable; great perks; good salary; able to move up in the company.

    ConsI think because it's such a global company, it can be a challenge to get recognized amongst all of the employees.

    • Culture & Values
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    • Senior Management
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    • Career Opportunities
    • Approves of CEO

    1 person found this helpful  

    Amazing potential however too dysfuncational to execute

    Anonymous Employee (Former Employee)

    ProsMacquarie is often described as the Goldmans of Australia. They are a powerhouse in Australia, however that market is limited. They're trying hard to expand into other regions, however, the management is all still in an Australian mindset. They hire very smart people.

    ConsThey're going to get eaten alive by local regulators. They've been operating somewhat under the regulatory radar but with the recent pickup in fines and sanctions it's only a matter of time before they get hit with a MAJOR fine. The management is super dysfunctional. No one has any authority to make any decisions and everyone is petrified of accountability. While they spend a huge amount of time and effort on hiring smart people, the good ones quickly leave because of the contraints.

    Advice to Senior ManagementYou've lost sight of the best of the cultural values - freedom within boundaries. You've got some great people that are unable to deliver on their potential because of the dysfuncatinal management.

    No, I would not recommend this company to a friend

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    • Culture & Values
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    1 person found this helpful  

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

    Executive (Current Employee) New York, NY

    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 Senior ManagementCut 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.

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

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    • No Opinion of CEO

    1 person found this helpful  

    Relaxed culture but embarrassingly low comp and weak reputation

    Anonymous Employee (Former Employee) New York, NY

    ProsMacquarie'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.

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

    No, I would not recommend this company to a friend

    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.

    Intern (Current Employee) New York, NY

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

    ConsIt 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 Senior ManagementIt would be nice to have better continuing education/ tuition reimbursement

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    • No Opinion of CEO

     

    Terrible Investment Bank for Junior Bankers

    Investment Banking Analyst (Former Employee)

    Pros- Good experience in modeling
    - Lot of work, get feet wet quickly

    Cons- Senior Bankers are not very skilled. Often fired from other banks and unable to generate much deal flow. As a result they treat juniors horribly
    - Extremely long hours
    - No regard for work life balance
    - HR does not care about treating people well
    - Will try to claw-back your signing bonus when you try to leave the company
    - Always understaffed, because the company acts as a revolving door
    - Terrible pay and bonuses (notoriously bad)
    - Don't buy the global bank angle. Generally top management only cares about the Australian practice and gives limited resources / attention to the U.S. practice

    Advice to Senior ManagementStart valuing and developing the people below you, or the investment banking business will never gain traction.

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

    • Culture & Values
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    • Approves of CEO

     

    I'm continually impressed with the new product and services innovation at Macquarie

    National Account Manager (Current Employee) San Francisco, CA

    ProsStrong brand name across the world

    ConsFinancial services is a tough market to be in right now

    Advice to Senior ManagementThey should implement "skip level" interviews to get a real feel for how management is performing in the field

    Yes, I would recommend this company to a friend

     

    Mixed

    Anonymous Employee (Former Employee)

    ProsThey tend to hire highly qualified people, so it is not likely that you will run into incompetent people. They don't just fill seats.

    ConsMost compliance environments in financial services are known for having a high stress factor and this is no different. It comes with the territory.

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    1 person found this helpful  

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

    Anonymous Employee (Current Employee) New York, NY

    ProsAlways 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.

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

    Yes, I would recommend this company to a friend

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