Monex

www.Monex.com

Monex Reviews

Updated January 12, 2015
Updated January 12, 2015
14 Reviews
2.5
14 Reviews
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Michael Carabini
6 Ratings

Employee Reviews

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  1.  

    Defines the capitalist model

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Account Representative in Newport Beach, CA
    Former Employee - Senior Account Representative in Newport Beach, CA

    I worked at Monex full-time (more than 5 years)

    Pros

    If you work hard for just a regular 40 hour week, you will get compensated quite well.
    Great training program.
    Great benefits.

    Cons

    Not much upward mobility.
    Not a diverse product selection, a bad market really hurts

    Advice to ManagementAdvice

    Team build better and include family to events.

    Recommends
    Negative Outlook
    Disapproves of CEO
  2.  

    account rep

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Newport Beach, CA
    Former Employee - Anonymous Employee in Newport Beach, CA

    I worked at Monex

    Pros

    extensive training for 1 month is about all i could think of.

    Cons

    incoming leads are answered by operators who route them to preferred reps. New reps do not receive incoming leads until after a month or so or they close enough leads from cold calls. Another way of receiving leads is to come in before normal hours and stay late hoping nobody else is there to pick up any lucky call that may wonder in at those hours. In short, I use to get to work by 5 am and leave around 8pm trying to achieve what their promised dream of landing "the big whale, its not when you would land one but how you would close it". After working 12-15 hours a day 6-7 days a week for many 7 months one begins to wake up to reality. The calls routed to your phone is not random according to an operator and rookies are there to feed the seniors, meaning when they leave their books are dispersed to them. Unless you know the owners or managers I would not waste your time here.

    Advice to ManagementAdvice

    No advice. They know exactly what they are doing and they do it well.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3.  

    Lax management makes for flexible environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Account Representative in Newport Beach, CA
    Former Employee - Account Representative in Newport Beach, CA

    I worked at Monex full-time (more than 3 years)

    Pros

    Uncapped commissions. If you want to leave early, no one will stop you, you are the master of your destiny. Meet a lot of interesting people.

    Cons

    The binoculars aren't powerful enough from the ivory tower. I keep hearing that to be successful you have to embrace change, Monex hasn't. Very LET THEM EAT CAKE attitude from owners.

    Recommends
    Negative Outlook
    Disapproves of CEO
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  5.  

    account rep

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Account Representative in Newport Beach, CA
    Current Employee - Account Representative in Newport Beach, CA

    I have been working at Monex full-time (more than 10 years)

    Pros

    Money can be good with a favorable market, once you've been there for a while hours can be lax. If you need a job and the market is hot you can make money.

    Cons

    In a bad market its hell, also they make money on transactions not book value like equity firms, they want you to constantly trade. Don't think that because you work there that makes you a financial advisor, if you try and get a new job, Monex is good for showing you can cold call but the company does not impress the large equity firms.

    Advice to ManagementAdvice

    listen to people that are working for you, ask them questions for improvement, change with the times.

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

    educational

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Account Representative in Newport Beach, CA
    Former Employee - Account Representative in Newport Beach, CA

    I worked at Monex full-time (more than 5 years)

    Pros

    there are opportunities to make a nice 6 figure salary (pay is 100% commission).

    Cons

    Management pushes you to throw your ethics away. Monex does not care about the customer. Management pushes you to put every customer in a leveraged position (even elderly people that specifically want a conservative risk free investment) which eventually will always lead to the financial ruin of the customer.

    Advice to ManagementAdvice

    go on a spiritual retreat.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  7.  

    a lot of upside potential if the market cooperates

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Monex

    Pros

    unlimited income potential, management leaves you alone if you do your job

    Cons

    no growth possibilities, if the market doesn't move it doesn't matter how hard you work, some unethical people

  8.  

    My experience at Monex

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Research Assistant in Newport Beach, CA
    Former Employee - Research Assistant in Newport Beach, CA

    I worked at Monex full-time (less than a year)

    Pros

    They have a great company health benefit plan. Company pays for entire employee health coverage. They offer great activities such as a beach volleyball party in the summer and a Christmas party.

    Cons

    It can be political at times like almost any corporate atmosphere. The dress code is very strict.

    Advice to ManagementAdvice

    More interaction with employees

    Recommends
    Neutral Outlook
    Approves of CEO
  9.  

    I couldn't stand this place

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Account Representative in Newport Beach, CA
    Former Employee - Account Representative in Newport Beach, CA

    I worked at Monex full-time (less than a year)

    Pros

    They dont charge you to breath the air or use the bathrooms, but that might be coming soon. I worked there for 2 weeks and it was hell.

    Cons

    They train you mislead customers and be a swindler. I felt dirty every time I set foot in that place. Everyone there is extremely greedy not to mention they have no ethical values.

    Advice to ManagementAdvice

    Get a real job and quit scamming people.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Misleading job opportunity, don't waste your time pursuing anything here!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Account Representative in Newport Beach, CA
    Former Employee - Account Representative in Newport Beach, CA

    I worked at Monex full-time (more than a year)

    Pros

    Was oversold on the "potential" opportunity to make a lot of money here among other things!

    Cons

    Too many to list! Churn'em and burn'em environment with very high turnover! New 9 month training class every 3 months! Most are lucky to make it through all 9 months and many are not even still there much beyond a year! Too much favoritism shown to senior reps upstairs and they'll quickly hand your book of business that you've worked hard to build off to them in a heartbeat after you're suddenly layed off or fired with no forewarning! Definitely an unfairly stacked deck work environment here!

    Advice to ManagementAdvice

    Treat and value good hard working talented and dedicated people better! Give them a fairer and longer runway to prove their overall abilities. Get current with more modern technology and a better fresher lead and call disbursement system! Spend more money on advertising to better try and compete with your many smaller competitors who will continue to capture more market share of your industries business if you're not careful! Be less greedy and aloof and get to know your people better!

    Doesn't Recommend
    Negative Outlook
  11.  

    Its a great job if the markets working in your favor.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Account Representative in Newport Beach, CA
    Former Employee - Account Representative in Newport Beach, CA

    I worked at Monex full-time (more than 5 years)

    Pros

    You can make a lot of money if you work hard and your lucky.

    Cons

    Everything else! These guys would understand technology if it bit them in the ass. They still use typewriters here. The owners killing the company with bone head moves. The company used to be good, but I would advise my worst enemy to work there.

    Advice to ManagementAdvice

    Tell Michael Carabini to walk the plank.

    Doesn't Recommend
    Negative Outlook

Monex Photos

Owners Lou, Mike , Christina
Outside of building

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