Chicago Board Options Exchange Reviews | Glassdoor

Chicago Board Options Exchange Reviews

Updated January 7, 2017
8 reviews

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2.0
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Chicago Board Options Exchange CEO Edward T. Tilly
Edward T. Tilly
2 Ratings

8 Employee Reviews

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Pros
  • Good work life balance and great co-workers (in 11 reviews)

  • Good benefits & compensation, favorable hours (in 5 reviews)

Cons
  • Not enough career growth potential (in 5 reviews)

  • Lot of emplasis on production support (in 4 reviews)

More Pros and Cons

  1. Helpful (1)

    "The end is near"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Systems Support Engineer in Chicago, IL
    Current Employee - Systems Support Engineer in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Chicago Board Options Exchange full-time (More than 8 years)

    Pros

    Knowledgeable work force
    Great 401k match-8%
    Decent salaries

    Cons

    No communication
    Will be eliminating most jobs
    Most people don't know their fates

    Advice to Management

    Be more open and honest. Don't play games with people's lives.


  2. "Senior Software Engineer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Software Engineer in Chicago, IL
    Current Employee - Senior Software Engineer in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Good work life balance and great co-workers.

    Cons

    Coin of experience is low. Recent merger has added 1.6 billion in debt. They will be cutting staff, mostly IT staff to help pay the new mortgage.

    Advice to Management

    Treat IT as a strategic asset rather than a cost center.


  3. Helpful (8)

    "Don't go down with this ship"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Recommends
    Positive Outlook
    Disapproves of CEO

    Pros

    Good 401K matching program
    Good insurance
    Smart Workers

    Cons

    Short-sighted Management
    Lack of integrity
    Very bad work/home balance in some departments

    Advice to Management

    Walk through Cere's and O'Neil's and see who's there....


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. "Its a good place to work if you don't want to work hard."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Manager in Chicago, IL
    Former Employee - Manager in Chicago, IL
    Neutral Outlook

    I worked at Chicago Board Options Exchange full-time (More than 3 years)

    Pros

    No stress. Its very laid back.

    Cons

    Its hard to get anything accomplished. Systems and procedures are very outdated and no one cares to update them.


  6. Helpful (2)

    "Old company with management that is still stuck in the paper and pen technology era."

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

    I worked at Chicago Board Options Exchange full-time (More than a year)

    Pros

    Co-workers were good people, Liked chicago. Good food in the surrounding area. Prestigious until you pull back the curtain. Decent benefits but not the best.

    Cons

    Conservative Technologically, for a company that is 99% web based now. (very little in person trading going on) Spaghetti for code because they use too many contractors and nobody knows an upper level view of how the trading platform interacts. They actually were unable to remove features from the code because nobody was able to make heads or tails of where to even start removing the code. One big mess, not using any logical structure to the platform. Tech directors hired from old boy network, with no experience in IT. Paper pushers have less operational knowledge of platform than subordinates. Very little opportunity for advancement or autonomy.

    Advice to Management

    Try hiring tech directors with IT experience.


  7. Helpful (3)

    "Engineer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Engineer in Chicago, IL
    Current Employee - Engineer in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Chicago Board Options Exchange full-time (More than 10 years)

    Pros

    Pay is good. Location is good.

    Cons

    Some management levels do not have a proper training to understand how to be a good manager.

    Advice to Management

    Go to a class to learn how to be a good manager.


  8. "Great financial company to work for."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Programmer Analyst in Chicago, IL
    Current Employee - Programmer Analyst in Chicago, IL
    Doesn't Recommend
    No opinion of CEO

    Pros

    Privately owned corporation. Very flexible with hours and work day-to-day tasks. No micromanaging of employees. Tasks are very straightforward and relatively easy to accomplish.

    Cons

    Tasks can be very repetitive and mundane. Not much interaction with direct manager (good or bad). Expectations of role are not clearly defined. Sharing of knowledge is sometimes painful. Career path very unclear.

    Advice to Management

    I would suggest taking advice from other companies in the financial district - keep the employees well informed, make clear career paths and promotion availability. Start to require management to live up to higher expectations and not behave like a "family" business, but more like a "top" business in "grandfathering" in management.


  9. Helpful (2)

    "Great place to work for pay and financial possibilities. Lacks in system stability and employer-employee line-of-sight."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Programmer Analyst in Chicago, IL
    Current Employee - Programmer Analyst in Chicago, IL
    Approves of CEO

    Pros

    Great pay. Fairly low stress. Slow learning curve. Low expectations. Firm is (currently) privately held. Downtown Chicago. Nice employee referral program. Great resume stuffer.

    It's a great "in" if you are in the Financial field or have an interest in Options and/or Stock. Lots of knowledgable people who have been around since the early days of CBOE.

    Cons

    Poor working relationships. Poor direct management supervision. Poor performance planning and management. Poor project management. Poor project execution. Low quality technological system.

    There seem to be serious disconnects between the average employee and the overall direction of the company. Projects are often discombobulated, hard to implement, hard to follow, hard to clean up. With multiple projects being implemented, one on top of the other, the quality of the system would seem to be compromised. The employees that have been here for a while often come across as arrogant and can be difficult to work with, requiring other employees to pry information out of them.

    Advice to Management

    Remember to keep the vision and goals of the organization strong and obvious to all levels of employees at the firm and create employee engagement as well as strong career paths.


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