Barclays Reviews in New York, NY | Glassdoor

Barclays New York Reviews

Updated March 19, 2017
130 reviews

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New York, NY

2.0
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Barclays CEO Jes Staley
Jes Staley
8 Ratings

130 Employee Reviews

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Pros
  • Work life balance is well maintained (in 430 reviews)

  • Great working environment, fantastic people (in 181 reviews)

Cons
More Pros and Cons

  1. "Operations Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Barclays full-time (More than a year)

    Pros

    -Overtime at Analyst level is nice

    Cons

    -IT infrastructure is totally askew from Lehman acquisition, makes the job much more difficult.
    -High employee turnover, leading to low morale.

    Advice to Management

    Need to empower employees more. Everyone recognizes major issues in systems and processes, but can't get the money/time to fix them.


  2. "Getting better, but a long way to go to be competitive"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Director in New York, NY
    Current Employee - Director in New York, NY
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at Barclays full-time (More than 10 years)

    Pros

    Collaborative environment. Nice people. Hard working group. Smart risk managers. Big picture and long term mindset. Global player. Scale. In the flow with most of top peers.

    Cons

    Compensation compares low. Retention is challenging. Polices are very conservative. Technology and equipment and overall support functions are not up to industry standard.

    Advice to Management

    Refocus on being competitive, recruiting and retaining the best, get your edge back and equip your people with the best tools and most flexible policies permissible (not just the path of least resistance)!


  3. "Stepping stone"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Banking Analyst in New York, NY
    Former Employee - Investment Banking Analyst in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Barclays full-time (More than a year)

    Pros

    Reimbursed cabs, private cars; free meals; salary + bonus

    Cons

    Hours; everyone was miserable; encourages culture of "drones"; After redesigning outdated systems/mechanisms that are used to provide support to my entire team with huge time saving enhancements as well as learning how to be a better analyst with regard to products/industries/financial valuation methodologies outside my direct scope, I was told that was a waste of time and just to focus on my little niche. Company is very outdated and old school with lots of hazing techniques embedded in the various groups. All the investment banks probably have this to some degree, but at least the others know how to pay employees and keep them from going to hedge funds / private equity.

    Advice to Management

    Embrace the investment banking culture or spin-off the bank. Don't try to keep it, but have the opposite culture. If you don't improve pay, brain drain will continue to goldman sachs or hedge funds / private equity.


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  5. "Negative outlook for employment"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Anonymous Contractor in New York, NY
    Former Contractor - Anonymous Contractor in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Barclays as a contractor (More than a year)

    Pros

    Pay relatively good rates for first peer IB

    Cons

    Unstable management. High turn-over rate


  6. "Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Analyst in New York, NY
    Former Employee - Analyst in New York, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Barclays full-time (More than 5 years)

    Pros

    Great coworkers feeling like "we're all in the same boat".

    Cons

    Constant downsizing and insecurity about the job.

    Advice to Management

    Try to keep your employees. When you lose them, don't assume the new people will learn quickly.


  7. Helpful (4)

    "A Real Headscratcher"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President in New York, NY
    Current Employee - Assistant Vice President in New York, NY
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at Barclays (Less than a year)

    Pros

    Good work life balance, especially compared to the other investment banks on the Street. MDs will leave around 5PM-6PM and there isn't an expectation for face time.

    Cons

    Major HR and talent retention issues. Every week, an announcement about a top-level resigning is sent out. Whenever there's an issue, management's solution to fire someone at the top and hire a new and shiny band-aid with a large paycheck to solve said issue. However, what you have in the end is a loss of infrastructure knowledge. There are so many new people that no one knows how any of the legacy systems work, why they were installed, and they keep trying to re-invent the wheel. Company spends a lot of time and money hiring new people and expensive consultants, who at the end of the day are unfamiliar with why the problem exists. Barclays is still stuck in the old days of banking and they have not realized the value of technological innovation or cheap analyst labor. It's a very small company, but people are very unproductive and morale is very, very low. No one is committed to the company or takes pride in the company brand (at least in NY). It's hard to convince someone to stay when all other US banks on the street have better culture and better compensation.

    Advice to Management

    Stop running the bank on a culture of power and fear. You're paying enormous amounts of money to people who can't do their jobs bc they don't have the right experience: you can simply replace their function with fresh young graduates for a fraction of the cost. Unlike in other banks, HR has no power at Barclays. Everyone at the top is an old white man. While the new CEO from JPM pledges to change this, there's a lot of politics that will prevent him from seeing this vision to the end. Employees here do not value gender or ethnic diversity, popped bottles of champagne when Trump won the election, and spend money allocated to "diversity initiatives" to fund drinks for current employees (who are a racially homogenous group already). The management believes they are "colorblind" yet the top three people in diversity & inclusion are old white men, just like every senior person at the bank. Barclays is unfortunately very, very backwards and is not moving forward at the pace of other US banks on the street.

    Barclays Response

    Jan 16, 2017 – Head of Resourcing

    Thanks for taking the time to write this review. Your thoughts on a culture of power and fear is very disappointing to hear and obviously not one that we would want as it does not enable our ... More


  8. Helpful (3)

    "Rapidly going down"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Developer in New York, NY
    Current Employee - Senior Developer in New York, NY
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at Barclays (More than 5 years)

    Pros

    Good health insurance and overall benefits

    Cons

    Clueless CIO
    Erratic technical leadership
    Bad hiring practices
    Failure to keep smart developers
    Apparently only Indians want to work here anymore

    Advice to Management

    Unfortunately, the problems start at the top. The CIO is clueless. Many in the senior technical leadership have zero experience either writing or designing modern software.


  9. Helpful (3)

    "Global Technology is a sinking ship - get out while you can!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President in New York, NY
    Current Employee - Assistant Vice President in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Salary isn't too bad if you're a good negotiator. You don't have to work particularly hard - in fact, most people don't. If you have a family it's great, because you can work from home all the time and never do any work - just leave it to other colleagues.

    Cons

    Global Technology in Barclays, or JPBarclays as it is now, is a complete mess. I can't overstate how much of a disaster it is. There's barely any talent left - the current employees are either on visas so cannot leave, or are too stupid or lazy to find another position externally. Promotions are absolutely impossible to come by, hiring is frozen across high cost centers, and requests to replace staff who quit have to be vetted by the CEO's team. There's so much bureaucracy it's impossible to get any real work done - rebooting a development server takes around 4 hours and 3 phone calls. Nothing actually works properly, from the helpdesk to the infrastructure services, so when a process or task completes successfully it's a surprise and quite possibly accidental.

    Advice to Management

    Honestly, management are so out of touch with what's happening on the front lines it would take a epiphany of almost Biblical proportions to get them down to earth.


  10. Helpful (2)

    "A sinking ship"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    easier to differentiate yourself in a one legged man race.... Easy for someone with a brain, strong work ethic and ambition to establish themselves

    Cons

    Huge talent drain in the past 3-5 years. most top talent (usually from the Lehman business) have left the firm

    Advice to Management

    need to stay ahead of curve; take risks; make investments in people and technology. Don't empower order takers. Reduce the politicking.


  11. "Good People, Poor Policies"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Institutional Sales in New York, NY
    Former Employee - Institutional Sales in New York, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Barclays full-time (More than 5 years)

    Pros

    Most of the people you get too work with are good people. Lots of out of work bonding with team members. However, there are some guys who are only out for themselves.

    Cons

    Regulation on European banks creates issues around job security. There are some guys who are only out for themselves. Bank has retention issues


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