Options Clearing Corporation
3.1 of 5 15 reviews
www.theocc.com Chicago, IL 150 to 499 Employees

Options Clearing Corporation Reviews

Updated Mar 8, 2014

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3.1 15 reviews

                             

62% Approve of the CEO

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Wayne P. Luthringshausen

(8 ratings)

42% of employees recommend this company to a friend
15 Employee Reviews
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  • Culture & Values
         
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Small financial company.

Anonymous Employee (Current Employee)
Keller, TX

I have been working at Options Clearing Corporation full-time for more than a year

ProsGreat work life balance, good compensation.

ConsThe company is adjusting to much greater oversight and government regulations.

Yes, I would recommend this company to a friend

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Good place to start your career

Anonymous Employee (Current Employee)
Chicago, IL

I have been working at Options Clearing Corporation as an intern for less than a year

ProsFriendly staff
Relaxed environment
Good benefits
Open door policy(ask as many questions)

ConsNeed more projects
Not always busy for interns
Can get boring sometimes

No, I would not recommend this company to a friend

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It's all who you know in the company. If you don't know higher management don't expect promotions or bonus.

Applications Services Analyst (Current Employee)
Chicago, IL

I have been working at Options Clearing Corporation full-time for more than 5 years

ProsAs long as you don't suggest any new ideas and don't recommend new technology or approach to handle the requirements you are ok. Otherwise, they will give you a warning for bad communications.

ConsThis company is running a family business type atmosphere. Promotions and bonus will be given to insiders only. If you are new, don't know higher management and not able to get into insiders group, you don't get anything except frustration and harassment.

Advice to Senior ManagementBe open for new suggestions and fresh ideas. Stop terrifying and harassing employees with micro-management rules and regulations.

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

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I like the people and environment, good place to learn and intern

Applications Services Intern (Current Employee)
Chicago, IL

I have been working at Options Clearing Corporation as an intern for less than a year

Prosrelaxed working environment with solid work experience that makes you an attractive applicant after graduation. The work options there are diverse enough to satisfy almost any college student. I recommend applying for this internship

ConsIf you do not attend De Paul it might be had to get the position as an intern. The company has a strong bond with the school and seems to prefer their students.

Advice to Senior ManagementKeep up the good work

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

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Gool ol' boy environment where you are rarely recognized for hard work

Anonymous Employee (Former Employee)
Keller, TX

I worked at Options Clearing Corporation full-time for more than 3 years

ProsFree medical insurance for your entire family and good work/life balance.

ConsPeople are promoted at OCC for who they know and not what they know or how hard they have worked. Communication between the Dallas and Chicago offices is lacking at best.

Advice to Senior ManagementGet some of the dinosaurs out of management that have been there for 20-30 years and replace them with knowledgeable people for those areas - not with people who are friends with the dinosaurs.

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

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Has the options clearing market all to itself.

Systems Analyst (Current Employee)
Keller, TX

I have been working at Options Clearing Corporation as a contractor for more than 5 years

ProsGenerally pays the industry's $ scale. Stable business model.

ConsTop of the hierarchy too country-clubby.

Advice to Senior ManagementPromote from within vs. bringing in outside specialists w/no or light business/industry knowledge.

No, I would not recommend this company to a friend

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Stable Company with good hard working people

Anonymous Employee (Current Employee)
Chicago, IL

I have been working at Options Clearing Corporation

Pros-Great People
-Decent Compensation
-Company is very stable

Cons-Limited Growth Opportunities
-Bad Management Staff is overlooked.
-Sometimes there can be long hours or lots of weekends

Advice to Senior ManagementLook deep within to develop staff. Sometimes bad middle management keeps good low level management or employee staff from advancement

Yes, I would recommend this company to a friend

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Old fashioned, poor communications, CYA mentality

IT - Operations (Current Employee)
Chicago, IL

I have been working at Options Clearing Corporation

ProsPay is pretty good, Chicago location is very central to everything.

ConsIT people are shown very little respect, communication throughout the company is very poor. Many employees have been there for decades (literally!) and they cannot imagine that there may be alternative, more efficient ways of doing things.

Advice to Senior ManagementStart showing some respect for IT workers, this company is massively dependent on what we do.

No, I would not recommend this company to a friend

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Nice people but lack of work for interns.

Intern (Former Employee)
Chicago, IL

I worked at Options Clearing Corporation

Pros* High pay rate for an intern
* Treated as an employee
* Nice co-workers
* Good work environment

Cons* Lack of work for interns
* Sat around waiting to be assigned a project for weeks at a time

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Nice place to work overall

Web Services Intern (Former Employee)
Keller, TX

I worked at Options Clearing Corporation

ProsFor an internship, the pay was really good and the work environment was positively uncharacteristic of the normal internship work environment. You're given your own cubicle and treated just like any other normal employee. Sometimes if I didn't say I was an intern, co-workers would've just assumed I was a regular employee. Co-workers are very friendly and promote a reasonably casual attitude toward the daily work schedule.

ConsBack & forth between Chicago & Dallas offices can sometimes cause confusion when things need to be taken care of urgently (ie. web updates).

Advice to Senior ManagementA little micro-managing wouldn't hurt every once in a while

Yes, I would recommend this company to a friend

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