Markit
2.8 of 5 242 reviews
www.markit.com London, United Kingdom 1000 to 5000 Employees

Markit Reviews

Updated Apr 17, 2014
All Employees Current Employees Only

2.8 242 reviews

                             

67% Approve of the CEO

Markit CEO lance uggla

lance uggla

(132 ratings)

46% of employees recommend this company to a friend
242 Employee Reviews
Relevance Date Rating
in

Review Highlights

Pros:
  • "good work life balance, benefit is ok, working hours are more than reasonable"
    in 22 reviews
  • "Good working environment and abundant learning opportunities"
    in 16 reviews
Cons:
  • "Sales is poorly managed and most senior management is hired in, rather than from within"
    in 14 reviews
  • "The idea of work life balance apparently doesn't apply to being on call 24/7"
    in 7 reviews
  • Show more review highlights

Reviews

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  • Disapproves of CEO

9 people found this helpful  

Horrible middle management.

Anonymous Employee (Former Employee)

I worked at Markit full-time for more than 3 years

ProsOpportunities to do more than just basic back office work. However, thats because most of the management seem to be "tools" so you'll have to do more than your own share to just keep things running.

ConsUnbelievable amount of middle management. Way too many talkers, not enough do-ers. Very upside down corporate triangle. There are teamleaders for teamleaders... One team with a few analysts may have several directors and multiple managing directors...

Advice to Senior ManagementNo advice would be able to help management.

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

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Great place to get started, and hopefully keep going

Associate Developer (Current Employee)
Boulder, CO

I have been working at Markit full-time for less than a year

ProsI am surprised at the myriad of negative reviews here of the Boulder office. The problems here seem to be ones that can easily plague a company that grew a bit too quickly but the management is committed to implementing positive long-term changes, addressing grievances, and keeping everything moving onward and upward. I have never worked for a company that was so open minded to the general process; here, it feels that the best idea truly is boss as long as you can sell your team leaders on the concept. In general everyone is encouraged to explore new concepts, manage their own time (like we're adults, wow!), make good decisions, yell for help and receive it if we need it, and encourage us to learn and grow both personally and as professions.

As a new developer I find the work environment very helpful and encouraging. I can always count on my team members and managers to walk/talk me through something, give me advice, throw together an impromptu code review, and point me to resources and materials. I've never been made to feel like I am incapable or slow. I feel comfortable in telling someone that a concept is beyond me, or please explain this again, or what the heck does this mean, or I have no idea what I am doing here, or I am in over my head, can you get me someone who can help. Despite the fact we have constant deadlines and everyone is working hard, no one is so busy or stressed that they won't or can't take two minutes to help someone out. The cooperative culture here is just awesome, from what I have experienced.

It gets noticed when someone goes above and beyond. I've seen capable developers ascend quickly based on competency, teamwork, and general merit; the salary increases reflect this as far as I am concerned, and when comparing this with similar-sized companies I have worked for in the past, Markit grants higher salary increases for good quality work than anywhere I've ever been. The monthly check-ins that Associates receive is helpful in this process as well; we get constant feedback on how we are doing, and there is genuine interest in if we are happy, if we feel supported, etc.

Socially the company doesn't take much initiative but the people do. Folks at the office have gotten different types of groups started, from lunchtime disc golf to homebrewing. My team goes to lunch often and has started doing happy hours semi-regularly. The company also have an excellent for sale/wanted email system; I haven't had to deal with craigslist since I started here!

ConsWhile overall there is a good work-life balance the PTO package is modest and outdated for a company trying to be "cutting-edge" on employee relations and building a culture. Offer flex time in the summer. Give us one more vacation week per year. Create some extra floating holidays (day after Thanksgiving, Christmas Eve, etc) that people can use. Et cetera.

The Boulder office is uncharacteristically rigid for being in a hip, tech-driven city. One of the first offices I've ever worked at where a great majority of people are still around at 5 on a Friday. I've never seen anyone order a beer during a lunch outing. The snacks and beverages offered at office-wide gatherings are barely adequate. Some of the free food in the kitchen feels like it was picked out by a 7-year-old (Easy Mac, Skippy peanut butter, Teddy Grahams, Goldfish, Quaker Granola Bars). Culturally they need to increase the "fun" factor and let people get away from their computers for a couple hours if they want to.

Also, the forcing of teams to move around every few months under the reasoning that it forces you to get to know new neighbors in the various buildings... this is not a good idea in my opinion. It stresses folks out and sometimes people end up working in rooms or areas they simply don't want to be in, but didn't get any input in. If you want to get people to work in different clusters more often, give everyone laptops and create coworking spaces around the office where anyone can hook up to a power supply, some external monitors, and a CAT-5.

Advice to Senior ManagementYou're good at tech innovation; now it's time for human relations and environmental innovation. Keep fresh ideas on the table and let your people guide you higher.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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7 people found this helpful  

You can do much, much better... I promise.

Software Developer (Former Employee)
Boulder, CO

I worked at Markit full-time for more than a year

Pros1) There are a few nice people... but seriously... where aren't there a few nice people?
2) The view of the Flatirons is breathtaking... and can be seen anywhere in Boulder.
3) You'll get a few big client names to add to your resume... Meh.

ConsUnreal. This is by far and away the worst job I have ever had. I was actually set up with an interview by someone in the company who warned me that they hated it there. I rationalized this by thinking they were unlucky and that I would have a different experience. Worst mistake ever.

1) SDLC - Development isn't done to any industry standard whatsoever (RUP, Agile). It's a constant state of adapting to poorly written code, changing schedule, non-standardized processes, and plenty of overtime to catch up. Goodbye work/life balance.

2) EPMO - Project Management is a disaster. Much of the time they just wing it without even creating Requirement documents... then the clients keep changing what they want, deadlines get destroyed, and the PM's have nothing to push back with. Highest turnover rate I have ever seen. The PM's often told me they are criticized constantly, even when clients are happy, and are given very little mentorship.

3) Bad Management Practices - Though this may not be universal within the company, there are extremely high levels of favoritism. Power was often abused by many of the managers. Random bonuses are distributed on the quiet, some folks work from home whenever they want, and supervisors come in late and leave early while their teams sweat after hours on product.

4) Reputation - When I was there many clients were leaving this company due to late deliveries, low quality product, and high monthly payments for hosting. From an employee perspective read the reviews on this site and ignore the ones that were obviously written by leadership trying to improve the averages. Even some of the three star reviews are scathing. Absolutely no recruitment agencies set up clients with this company. Ask yourself why.

5) The Pay, The Pay, The Pay - You think providing me a peanut butter sandwich is going to make up for the fact that I'm 20% off the average industry pay for what I do? I'm sure anyone at that company would trade in your well stocked junk food kitchen for a bump in salary. Add in your overtime hours and you'd make more money on average with an internship somewhere.

You can do much, much better. I promise.

Advice to Senior ManagementClean house in Boulder. The place is completely broken from the ground up. Ask for a completely confidential review of every manager in the place. Emphasize that the results will not be shared with them and employees will be honest instead of fearing reprisals. You'll be shocked at the results. Don't retrain these bad seeds. Let them go. They are part of the problem. Also your pay is the worst joke I've ever heard. I've almost doubled my salary since leaving there. Seriously. Now that there are many tech jobs available in the Rocky Mountain region employees will be leaving in droves unless you take immediate action.

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  

Very poor experience with this company

Software Engineer (Former Employee)
Boulder, CO

I worked at Markit full-time for more than 5 years

ProsThere are some good people that work there, but the corporate culture, structure and reward system ruins them.

ConsI worked for a company called Wall Street On Demand in Boulder which was bought by Markit in 2010. I watched a good company begin to go down the tubes until I got out. Markit was formed by people with banking backgrounds so the corporate culture changed from being an innovative tech company to one driven by monetary gain for management. The quality of the work being done for the customers was suffering due to the monetary incentive system implemented by Markit. Those who 'appeared' to be showing results were rewarded, but, in my opinion, they and their teams were producing poor quality work that would have to be redone before very long at a much higher cost to both Markit and their customers. I could not in good conscience continue my employment with that company.

Advice to Senior ManagementIf you're locked into good stock options stay a while then cash out before the company goes down.

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

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1 person found this helpful  

A good experience but not overwhelmingly hands-on

Anonymous Employee (Former Employee)
New York, NY

I worked at Markit as an intern for less than a year

ProsThe VPs care about the internship program - weekly brown bag lunch seminars, company-wide presentations about different products, and of course Beer Fridays. The office is set up like a trading floor - no cubicles.

ConsThe tasks that I was assigned during the internship gave me enough to develop some Excel competence, but not much beyond that. The amount that you learn varies a lot from one department to the next, so do your research.

Yes, I would recommend this company to a friend

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4 people found this helpful  

Work here at your own risk!

Anonymous Employee (Former Employee)
Boulder, CO

I worked at Markit full-time

Pros- Employees - (majority are) hard working, smart, helpful, fun to work with
- Stock options (if you can get them)
- Free food - some healthy choices (fruit, yogurt, milk, etc) and lots of junk food and soda
- Car pool paid for and extra $1 per day (can be donated)

Cons- Management
A lack of training/education and experience has a lot of people in positions they shouldn't be in. Promotions are based on time spent at the company and how well you get along with your manager. No consideration given to true talent and potential among employees. If you have an opinion differing from your manager's, expect to be automatically below average on reviews.

- Turnover
The rate is beyond unbelievable, with the Boulder office tracking at over 50% per year. Given the poor economy the last few years, this rate is actually a bit subdued as many employees are waiting for the markets to pick back up. One group had the entire team replaced every summer for 3 years as all of the team members jumped ship to move to greener pastures. Those that make it to 1 year of service only do so to avoid the appearance of job hopping. Many can't make it that long, and its not uncommon to see people leave after 3-6 months. A quick search on a job searcher will reveal about 10-15 openings at Markit on Demand any given week, and yet the company has not grown beyond its current size (~425 in Boulder) over the last 2 years.

- Project Management (its not really project management, rather customer support)
The project managers themselves are actually hard workers, but there is little to no knowledge (for the most part) of actual project management principles. Majority of the project managers are financial analysts who came to work for Wall Street on Demand and had 0 experience in software development practices. Many of these folks are now leading up the teams and providing little in the way of instruction or mentorship. The project managers are expected to be customer support and as such, typically only have 1-2 clients as the majority of time is spent fixing customer issues on poorly built software.

- Workload
Those that take pride in their work put in long hours to try to keep the house of cards from falling. It isn't uncommon to have releases take multiple days due to insufficient time for QA cycles as development is continually late in delivering milestones. Pricing and sizing is thrown right out the window as most estimates are targeted at landing a client vs providing a good faith estimate. This in turn cuts down on the actual time needed to design, develop, and test the software and leads to many delays. The client is pretty much locked in at that point since too much time has passed to go with a different solution. Its not uncommon for the client to demand refunds and eventually go to another vendor.

- Training/Education
There is a 9 week course for new developers to learn introductory web and SQL programming skills as well as the company. Beyond that, no other opportunities are available to improve skillsets (and the fact there is no time available to do so).

Advice to Senior ManagementThere are a lot of opportunities to be the best in the business in this niche market. Focus on quality managers...those that have people skills, knowledgeable about the industry, and best practices. Listen to your employees, too many people are leaving, and nothing is changing to fix that. Don't hire everyone straight out of college, look for seasoned employees to provide mentoring to the newbies.

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

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Great at first, downhill quickly

Project Manager (Current Employee)
Boulder, CO

I have been working at Markit full-time for more than a year

ProsBenefits, office, developers, technology, 24-hour support

ConsPay, managers, parent company, expectations, clients

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

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1 person found this helpful  

Overwhelmingly, this is a great company

Designer (Current Employee)
Boulder, CO

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

ProsHaving read a few of the other reviews of Markit on Demand on Glassdoor, I'm somewhat surprised by how negative they are because I've had a mostly great experience working here.

MOD is set up somewhat like a bunch of small businesses within the businesses, which in many cases means that if you're smart and hard working, you can build up your own client relationships inside Markit on Demand with some of the biggest names in the financial industry. For some people, I could see that being annoying because there's not an explicitly clear overarching structure to the company and its processes. For me, that was a godsend because I was able to come into the company, work hard, and be directly responsible for my own success without a lot of obstacles or impediments. A lot of the people complaining here about MOD on here probably didn't realize how much control they actually have over their own destiny, or happened to have a manager who didn't highlight that for them.

There are lots of nice day-to-day perks to working here, which on the surface are the things people notice: getting paid to carpool or take public transit, lots of free snacks and drinks, a bike-sharing program, friendly and kind management, etc. Having now worked here for five years, there are aspects of this job that are harder to quantify, but are really meaningful: people are generally very intelligent and the problems the company solves are often complex and interesting. Being able to come to work every day and solve hard problems with smart people is really fun.

ConsMarkit on Demand's parent company (Markit, based in London) has some really good characteristics, like very aggressive philanthropic and charitable giving. However, Markit has a tendency to be a little bit sales-y and creepy, and they seem totally willing to sell complete vaporware to clients. Thankfully, Markit on Demand has not taken on that characteristic because MOD's executives have tried to shelter us from some of the worst aspects of Markit, but time will tell of how long that will last.

Although I feel like my pay is totally appropriate for my level of contribution, I have heard some people complain about the pay being low compared to the overall industry. I definitely get a sense that people's salaries vary pretty widely, so I understand if there are chunks of the company that feel underpaid. The company is a meritocracy through-and-through, so your ability to climb the ranks financially are pretty good, in my opinion.

I also wish the company was a little bit more strict about who they hire. Occasionally, it seems like too many risks are taken on untested and very junior people, some of whom fail pretty spectacularly, causing problems for other teams along the way. Thankfully, these cases are few and far between.

Advice to Senior ManagementTry to continue to be involved in day-to-day culture of the company, especially since the Markit acquisition has left us a little bit culturally rudderless at times. Maybe even advocate for Markit On Demand remaining fairly separate and distinct in its brand and values than Markit as a whole?

Yes, I would recommend this company to a friend

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Great Company, Great People, but poor personal financial growth

Junior Feed Integration Developer (Former Employee)
Boulder, CO

I worked at Markit full-time for less than a year

ProsExcellent company, work culture, ethics, people, work location .. Everything is great about the company

ConsBiggest drawback is that they do not pay well to their employees. Get a lot of work done from the employee, at times the work can be demanding (which is good since as an employee you get to learn a lot) but pay is BELOW average and not much increment in the following years

Advice to Senior ManagementImprove the salary and make some effort to retain the talent that the company has already got.

Yes, I would recommend this company to a friend

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A great place to learn, but don't get comfortable

Web Developer (Current Employee)
Boulder, CO

I have been working at Markit full-time for more than a year

ProsThere are many material perks to working for Markit On Demand. They provide employees with kitchens full of various foods and drinks, a quarterly Do What You Want Day to help developers focus on their ideas coming to fruition. The creative energy is overwhelming, so it is fun to vamp into that and enjoy the ride - you'll find yourself a more talented person over time if you just listen and learn. There are a lot of super smart and talented people there and the staff is generally very friendly. You'll leave before you're fired.

This is a great place to learn and a good network of people worth meeting. If you're looking for a job out of college or an internship, this is great for you.

ConsMany Cons. First, the lifecycle of applications is very much butchered from a true process that involves a thorough Data Architecture, approximating requirements and sizing, documentation, and continuous communication between departments. For a company that develops products for such big names, they should be embracing some pretty well known development approaches (SDLC, Agile, Scrum, something), however, they ascribe to sticky notes on the wall, whiteboards as the formal process, and a shotty sunken fallacy for project management and ticket/bug tracking.

They do not invest the money to pay for development software, so expect to be a Microsoft Developer or SQL Admin using express, free software. They are a Microsoft shop, but discourage Microsoft Certifications. The process and technology of development is very proprietary, so expect to learn a lot of things you won't carry with you to another position. In fact, you may very well find yourself saying 'no' to your future interviews when asked if you are familiar with certain (de facto) standards.

The churn is fairly high, the pay is VERY much below standards, and there is a strong sense of self-worth among technical roles. It is here you learn to hone your skills by knowing the answer to everything or just not say anything.

Advice to Senior ManagementHonestly, the transition to any merger is tough. However, it appears the culture of WSOD is decaying pretty quick; proof is in the concrete - some important people have left since the beginning of the year. I would focus on bringing your developers and designers together, finding the strong front-end developers and joining them with the designers to create better, more robust, and stronger UI/UX. The back-end developers and middle-tier (MVC) developers work very well with data-driven departments. If you do this, you'll be in line with almost every web development shop. This is a good place to start.

From here, lean on development to be the focal point of your customer's needs - design will follow a strong business logic concept without stifling their 'sensitive and creative' needs. Also, consider the money wasted on email, the current project management software and the aweful wiki. Consider hiring technical trainers and/or technical writers to focus on enriching and cross-training teams to be more contiguous and increased in worth. Hire higher quality technical minds and pay them what they are worth in the market - if you do, you'll hire fewer, but lose fewer and get a better quality experience.

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

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