Monex
2.5 of 5 12 reviews
www.Monex.com Newport Beach, CA 50 to 149 Employees

Monex Reviews

Updated May 2, 2014
All Employees Current Employees Only

2.5 12 reviews

                             

25% Approve of the CEO

(no image)

Michael Carabini

(4 ratings)

18% of employees recommend this company to a friend
12 Employee Reviews
Relevance Date Rating
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    Lax management makes for flexible environment

    Account Representative (Former Employee)
    Newport Beach, CA

    ProsUncapped 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.

    ConsThe 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.

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

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    account rep

    Account Representative (Current Employee)
    Newport Beach, CA

    ProsMoney 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.

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

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

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    educational

    Account Representative (Former Employee)
    Newport Beach, CA

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

    ConsManagement 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 Senior Managementgo on a spiritual retreat.

    No, I would not recommend this company to a friend

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    a lot of upside potential if the market cooperates

    Anonymous Employee (Former Employee)

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

    Consno growth possibilities, if the market doesn't move it doesn't matter how hard you work, some unethical people

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    My experience at Monex

    Research Assistant (Former Employee)
    Newport Beach, CA

    ProsThey 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.

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

    Advice to Senior ManagementMore interaction with employees

    Yes, I would recommend this company to a friend

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    I couldn't stand this place

    Account Representative (Former Employee)
    Newport Beach, CA

    ProsThey 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.

    ConsThey 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 Senior ManagementGet a real job and quit scamming people.

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

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

    Account Representative (Former Employee)
    Newport Beach, CA

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

    ConsToo 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 Senior ManagementTreat 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!

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

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

    Account Representative (Former Employee)
    Newport Beach, CA

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

    ConsEverything 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 Senior ManagementTell Michael Carabini to walk the plank.

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

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    Old School

    Account Representative (Former Employee)
    Newport Beach, CA

    ProsOne can make decent money

    ConsLong hours, business is meant to confuse

    Advice to Senior ManagementN/A

    No, I would not recommend this company to a friend

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    1 person found this helpful  

    Account Rep

    Account Representative (Former Employee)
    Newport Beach, CA

    ProsEmployees are great, good people. Good $$$ when the market is good.

    ConsNo base salary, 100% commission. Need to be part of the chosen ones to succeed. Revolving door.
    Old computer system. Only medical no dental or vision

    Advice to Senior ManagementListen to your employees, quit hiring more and more reps in a down market. Scale back your sales staff and you will have loyal employees.

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

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Glassdoor is your free inside look at Monex reviews and ratings — including employee satisfaction and approval rating for Monex CEO Michael Carabini. All 12 reviews posted anonymously by Monex employees.