Citco Reviews in Toronto, ON | Glassdoor

Citco Toronto Reviews

Updated October 17, 2017
133 reviews

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Toronto, ON, Canada Area (Canada)

2.6
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Christopher Smeets
18 Ratings

133 Employee Reviews

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Pros
  • Free drinks (plus free beer every Friday) (in 71 reviews)

  • Good work/life balance, lots of learning opportunities, ACCA fees covered (in 27 reviews)

Cons
More Pros and Cons

  1. Helpful (1)

    "Vice President"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Toronto, ON (Canada)
    Former Employee - Anonymous Employee in Toronto, ON (Canada)
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Citco full-time

    Pros

    Good Atmosphere, educated workforce, professional

    Cons

    Long hours, management slow to reward talent

    Advice to Management

    Recognize talent before staff are forced to look elsewhere

    Citco Response

    Sep 22, 2017 – Director, HR Operations

    Dear Former Employee,

    Thank you for taking the time to provide a review.

    I agree that we do have a good atmosphere at Citco, where we try to create a culture and environment that is enjoyable... More


  2. Helpful (3)

    "Senior IR"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Investor Relations in Toronto, ON (Canada)
    Former Employee - Senior Investor Relations in Toronto, ON (Canada)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Citco full-time (More than 3 years)

    Pros

    Kitchen amenities are good
    Office location is excellent

    Cons

    Expectation to do long hours everyday. Employees understand it's part of the business such as month end, but not every day. 50 hour plus weeks are the norm. If an employee leaves on time you feel guilty, it's a terrible environment.
    I worked in the company for 4 years and the culture has not always been like this, however over the past 18 months the morale has fallen through the floor and virtually everybody was looking to leave. Over 50 employees left in the first 6months of 2017, very experienced employees and now there is a vacuum.
    Surveys were conducted on employee happiness and an external party was brought in to meet employees in groups to see how they were feeling. The feedback clearly was not listened due to the volume of people that left. People are not rewarded for their hard work and senior management does not reward the better emloyees. Of course the talented employees will look elsewhere.

    Advice to Management

    Reward employees, senior management should sit down with junior staff and not take their managers word. As there is no 360 review some managers only have their own interests at heart promising unrealistic expectations to their managers dumping the work on junior staff. If senior management took time to sit with junior management this may curb this trend. Introducing 360review would help the company a lot.

  3. "Good for filling up resume"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - Fund Accountant in Toronto, ON (Canada)
    Current Contractor - Fund Accountant in Toronto, ON (Canada)
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Citco as a contractor (More than a year)

    Pros

    Good for first job experience

    Cons

    Very cliquey environment
    Unhelpful supervisors and senior staff


  4. "Good place to work fresh out of school with no work experience!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Supervisor IR in Toronto, ON (Canada)
    Current Employee - Supervisor IR in Toronto, ON (Canada)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Citco full-time (More than 5 years)

    Pros

    good salary coming out of school.

    Cons

    Culture is dependent on mgmt and entirely dependent on the team you are assigned to.
    Environment is changing as mgmt is looking to change to cost leadership strategy while still servicing legacy clients with differentiation strategy.
    IT systems arnt rigorously tested before being rolling out. employees expected to troubleshoot accordingly

    Advice to Management

    culture flows down from the top and needs to change in order to stop attrition of department


  5. Helpful (2)

    "Time for some positive"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Fund Accountant in Toronto, ON (Canada)
    Current Employee - Senior Fund Accountant in Toronto, ON (Canada)
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Citco full-time (More than 3 years)

    Pros

    Great exposure to hedge funds and financial services industry.
    I started here right after university and have been developed and provided opportunities I would not have received elsewhere.

    Unfortunately it seems that only the dissatisfied write reviews on Glassdoor.

    So I am here to buck that trend. While I agree, the MDs lack leadership, my manager and VP have always been supportive of me professionally and personally. Yes OT is high at certain periods but we know this and allow for it. What company doesn't have busy periods?

    I work with a great team and have developed great friendships. We have lots of social events too that provide opportunities to get to know people outside of your group.

    There have been lots of changes in some groups. In particular HR, but from my experience the changes have been for the better.

    For many this is their first job (as it was mine), so they don't know any different.

    Allow yourself to embrace Citco, you will find it is worth it.

    Cons

    MDs - lack of leadership. More client focused than employee. However I have a strong manager and VP who provide appropriate leadership.

    Advice to Management

    Fix the top of the house and all will be perfect.

    Citco Response

    Aug 14, 2017 – Director, HR Operations

    Dear Colleague,

    Thank you for your review. It's great that you refer to many positives that you have had with your manager and VP, as well as the opportunities to foster relationships with... More


  6. Helpful (4)

    "Supervisor, Investor Relations"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Toronto, ON (Canada)
    Former Employee - Anonymous Employee in Toronto, ON (Canada)
    Recommends
    Negative Outlook
    No opinion of CEO

    I worked at Citco full-time (More than 3 years)

    Pros

    Good exposure, opportunity for growth, relatively good pay and benefits

    Cons

    Poor management style, high turnover, too much overtime, little appreciation.


  7. Helpful (8)

    "Caution! Read this before you accept your offer..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investor Relations Specialist in Toronto, ON (Canada)
    Former Employee - Investor Relations Specialist in Toronto, ON (Canada)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Citco full-time (More than 3 years)

    Pros

    Career Opportunities - Large firm so you can move internally (if they ever let you)
    Compensation & Benefits - Good benefit package
    Work Life Balance - It exists..on some days
    Senior Management - N/A
    Culture & Values - Everyone gels well together on most teams, people are willing to help each other. Also, the weekly goodbye parties are always fun!

    Cons

    Career Opportunities - Moving from one team to another will get you experiences...but you can't escape the toxicity that is in Citco. You know there is a serious problem when their top competitor is able to easily poach large amount of employees over a short span of time.
    Compensation & Benefits - Below average salary (but HR insists that what they are offering is "competitive" due to "total package"(i.e. benefits + salary))
    Work Life Balance - Overtime can get extremely overwhelming and is expected as part of your evaluation criteria. If you refuse to do it, they will refuse your bonus/promotion/raise etc. Paid sick days have been reduced from 10 to 3 and they claim it is "industry average".
    Senior Management - Too many chiefs not enough Indians - extremely disorganized when there are conflicting point of views. Little to no action done on feedback received from NUMEROUS surveys they have solicited.
    Culture & Values - Extremely low morale, and incredibly high turnover rate across the firm - every week there are people leaving regardless of having another job lined up or not.

    Advice to Management

    Citco is a very diverse firm with lots of (potential) opportunities. Unfortunately, given the extremely low employee morale, lack of actual retention plans, and incredibly high turnover rate - Citco is a sinking ship! Without investing in your current employees, no amount of effort invested in hiring/training new staff will save this company.

    Citco Response

    Aug 15, 2017 – Director, HR Operations

    Dear former employee,

    The leadership of Citco takes employee feedback seriously (both from former and current employees).

    As a matter of fact, we have recently completed our first global... More

  8. "Good for first job"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Fund Accountant in Toronto, ON (Canada)
    Current Employee - Fund Accountant in Toronto, ON (Canada)

    I have been working at Citco full-time (Less than a year)

    Pros

    great kitchen. supportive co-workders

    Cons

    low pay. overtime. corporate culture.

    Advice to Management

    care more about staff


  9. Helpful (5)

    "Long hours...horrible morale"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Manager in Toronto, ON (Canada)
    Former Employee - Manager in Toronto, ON (Canada)
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Citco full-time (More than 3 years)

    Pros

    - Able to advance career if dedicated but must be willing to spend 12+ hour days
    - free beer/coffee
    - competitive benefits
    - great locations
    - mobility

    Cons

    - No work life balance.
    - No respect for personal commitments (scheduled after working hours/weekends..."work comes first")
    - shamed/judged for leaving "on time"
    - promotions considered as a tool to retain staff. Not a meritocracy.
    - Heavy workload/unreasonable expectations from management
    - not open to new ideas (employee suggestions openly mocked with cheeky/sarcastic comments)
    - no work from home policy (Competitors allow work from home in same industry)
    - atrocious employee morale

    Advice to Management

    - work from home policy
    - respect the work life balance


  10. Helpful (14)

    "Would not recommend"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Fund Accountant in Toronto, ON (Canada)
    Former Employee - Fund Accountant in Toronto, ON (Canada)
    Doesn't Recommend
    Neutral Outlook

    I worked at Citco full-time

    Pros

    - Monthly free breakfast/birthday cakes. Free beer (if you drink)

    - Taxi chits if you work late

    - Casual dress code

    - You do get paid for OT

    - Recruiting process was very smooth

    - Mentorship system for those trying to get their accounting designations; I never took advantage of this though.

    - Convenient location by Bloor-Yonge Station

    - Citco throws pretty dope parties.

    Cons

    - You will be shamed if you leave before 6:30. During my exit interview, I brought this up with the HR Rep and she fully agreed that this is an ongoing issue with Citco. You will have very little work-life balance. At one point because of custody issues, I was regularly working 65-80 hours a week. Our VP then told us that our hours would soon be shifting to a regular 37.5-45 hour work week but even when that happened, we would be talked to for leaving on time. Had an intern, I repeat, an intern, working 50-60 hours regularly. That is absolutely ridiculous. Also had a friend (she quit) whose Managers timed her lunch breaks to the minute.

    - Ridiculous turnover. I have worked for various firms in the financial services industry and I have never seen such quick turnover. People burn out or get frustrated with senior management.

    - VPs and Managers don't commit to the promises that they make. When you say you're going to do something for your team like provide them with additional help/training, commit to it. Otherwise, we get frustrated. I had an amazing Manager who quit because of how frustrated he was. Team morale quickly went downhill.

    - Expect to get blamed/shamed when you don't know how to do something or even when you ask for help. You WILL get blamed for something that's out of your control frequently. It happened to me. It happened to my teammates. And it certainly happened to many individuals on my floor.

    - Below average pay compared to the industry but it's balanced by the benefits.

    Advice to Management

    Realize that people burn out. Don't give conflicting orders and then blame us when we get confused. Don't shame people for wanting to have a work life balance and justify it by saying "you're young so suck it up" or "you're not a parent yet".


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