Chicago Board Options Exchange Reviews | Glassdoor

Chicago Board Options Exchange Reviews

Updated January 16, 2017
63 reviews

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63 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 (8)

    "the best company for baby boomers One Among the Worst Companies to work around in Chicago Area"

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

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

    Pros

    None about the Company
    1. Downtown Chicago
    2. Lot of Places to eat
    3. After work entertainment

    Cons

    news Facts: 1. The U.S. Securities and Exchange Commission levied its first-ever fine against a stock exchange for oversight issues, docking the Chicago Board Options Exchange $6 million for allegedly failing to enforce or even understand rules designed to prevent illegal short-selling.

    2. CBOE fix for bug that halted trading

    Google above and you will see why its not worth working here.

    1. There is no work culture here to describe. Its like wild west regarding various departments from communication to responsibilities. The older managers are judgmental based on appearance, income , place of living etc. If you have seen movies office space and wolf on wall street this company will resemble a mix of both the movies.
    2. Most Managers and Directors are Yes Men to C level executives to keep their jobs because they can't find anywhere else and will blame it on subordinates and team members. Some managers don't have proper 20th and 21st century social skills and are not fit for hiring at other places.
    3. The average age of employees here is more than 50 years. Mostly Wild west and redneck old boys network. Couple of Managers I heard suffer from psychological disorders, hypertension and will get angry or moody for no reason and will swear a lot. The longer you stay here one get more institutionalized.
    4. People work in Silos here and there are no learning opportunities since most of the technologies haven't changed from late 80's and early 90's. Its harder for current employees to find job outside of their company due to limited exposure.
    5. Only a few managers are educated beyond high school and few directors and executives beyond undergraduate degrees. Few of the Managers , directors and executives have community college degrees. Education is not a requirement but swearing is a must.
    6. There are no software development standards system wide and have been following what was done in early 80's and 90's in mainframe technology. They are more about sticking to the unrealistic timeline for production with no time for testing the products which caused issues like the market halt in 2013
    7. Pay is less than the industry standard in Chicago and there are are no growth opportunities. There are software Engineers with 20+ years here with no changes to title and pay.
    8. Nowadays there is no innovation here and its mostly about keeping the system alive without failures and patch work for keeping it running.
    9. Public has realized about CBOE Shenanigans based on news in Particular and recent recession and trading volume has reduced in their exchanges.
    10. Lot of Ratings Agencies have changed CBOE to sell after their quarterly report

    Runaway from this Hell

    Advice to Management

    Nothing because you cannot teach Old Dog's new Tricks . Time to close CBOE


  2. "A great environment for potential. Plenty of different departments to learn from"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Lead Systems Operator in Chicago, IL
    Current Employee - Lead Systems Operator in Chicago, IL
    Recommends
    No opinion of CEO

    I have been working at Chicago Board Options Exchange full-time (More than 3 years)

    Pros

    Flexible work schedule, Knowledgeable people, and great benefits. There are opportunities for personal growth.

    Cons

    Occasionally there can be a lot of politics involved between different departments and communication can be dropped sometimes. Also, a lot of high pressure situations


  3. Helpful (5)

    "Go elsewhere"

    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
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Not many pros. Convenient location , nice coworkers

    Cons

    Poor management top to bottom in the regulatory group. Lack of strategy, training. Nothing here to motivate.


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  5. Helpful (1)

    "Education, Marketing and Technology"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Options Institute Support in Chicago, IL
    Former Employee - Options Institute Support in Chicago, IL
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    There is still great potential of company growth if the CBOE can promote itself for traders and investors. As long as equity volume doesn't drop dramatically, the CBOE should continue to grow.

    Cons

    There is too much focus on monthly exchange trading volume. There is not enough focus on trying to educate conservative investors about basic option strategies.

    Advice to Management

    Keep trying hard to educate basic investors about options


  6. Helpful (4)

    "look elsewhere"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    good location in downtown Chicago

    Cons

    Management is not the best


  7. "Investigator"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Chicago Board Options Exchange full-time (More than 3 years)

    Pros

    Great learning opportunities if you are proactive and very helpful people throughout the organization.

    Cons

    Not enough career growth potential


  8. "So far so good"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Regulatory Analyst in Chicago, IL
    Current Employee - Regulatory Analyst in Chicago, IL
    Recommends
    Negative Outlook
    No opinion of CEO

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

    Pros

    Life flexibility, work environment, benefits and great options for financial training.

    Cons

    Salary is low compared to other competitors and certain attitudes of people should go.

    Advice to Management

    Communication! Everyone does their own thing that leads to a lot of misunderstandings. Accountability would also help, no one really steps up to take initiative.


  9. Helpful (4)

    "Investigator"

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

    I have been working at Chicago Board Options Exchange full-time (More than 5 years)

    Pros

    Solid work-life balance
    Interesting prop products

    Cons

    Compensation is not up to par with industry expectations
    The Regulatory Division is the red headed step child of the exchange.
    Some of the higher ups are stuck in the open outcry years and really don't understand the "new" way of trading.
    Higher ups are prone to "not invented here" bias and generally look more at a person's title instead of the persons knowledge on a given subject. This is big with rank and file who may have advanced degrees (MBA/MSF/JD) or specialization (former MM) and yet are shut down by middle and upper middle management who has longevity over actual knowledge of a case/rules/way of trading.

    Advice to Management

    Make an effort to say hello. Perhaps the heads of the exchange may want to go over to the reg side once a month to show his face. Generally make people feel a bit more wanted. Duh.

    Pay market rate (CME/FINRA). If you keep saying you do a better job than FINRA then take care of your employees like FINRA does.

    Understand that some people may know more about a given subject even though their title may not show it. You know what? Get rid of titles they are worthless in that organization - some of the higher ups don't know how a contract gets filled electronically so how can you expect them to be effective regulators?

    Give a clear path for advancement and give middle management the opportunity to be more flexible - and get rid of those who have no business being in management in the first place.


  10. "Great place for IT technical work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Engineer, Systems Development in Chicago, IL
    Current Employee - Engineer, Systems Development in Chicago, IL
    Recommends
    Approves of CEO

    I have been working at Chicago Board Options Exchange full-time (More than 5 years)

    Pros

    Good salary, great benefits, good people. Lot of opportunity to learn and grow technically

    Cons

    No much opportunity for career growth.


  11. "good for experienced workers"

    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
    No opinion of CEO

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

    Pros

    most people stay at this organization a really long time, good benefits and connections can be made, good location in the city

    Cons

    not a young company, pretty traditional as with a lot of finance organization and resistant to change, not the best place to get your start



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