Citco "free beer" Reviews | Glassdoor

Citco Employee Reviews about "free beer"

Updated Mar 9, 2020

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3.1
52%
Recommend to a Friend
66%
Approve of CEO
Citco CEO Christopher Smeets (no image)
Christopher Smeets
226 Ratings
Pros
Cons
  • "long hours and poor yearly increments(in 152 reviews)

  • "There will be a fair amount of overtime regardless of attempt to keep work life balance for employees(in 106 reviews)

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Reviews about "free beer"

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  1. Helpful (9)

    "A place to just keep your head down"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Fund Accountant in Malvern, PA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Citco full-time for more than a year

    Pros

    The company offers a competitive salary with overtime but no bonus and there are times when there is little to no work to be done. The company also provides free beer.

    Cons

    The company is dishonest about everything and they only care about the bottom dollar. They are in the process of moving all work to India and Canada, though the process is slow and you will often find your team missing a few people that seem to never get filled. The hours are erratic and you often found out during the day that you may have to work until 9 or 10 at night. The system is outdated and the company refuses to invest in figuring out solutions to easy problems. Often tasks that any other company has automated will have to be done manually here. They don't reward hard work or going above and beyond. If you are looking to prove yourself, this is not the company.

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    Citco2019-01-28

    Citco Response

    February 1, 2019HR

    We appreciate you taking the time to leave a review. It is great to hear you felt our salary structure is competitive, as we regularly benchmark to ensure that we remain competitive within our industry and regions! We do recognize that the client focused nature of our business does sometimes lead to longer working hours than we would otherwise like, however we try to balance this with policies and practices that promote and support health and wellbeing. Citco also invests heavily in technology and has developed award-winning technology products . We are always looking at how we can improve so thank you for taking the time to leave your feedback. We wish you the best of luck in your future endeavors.

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  2. Helpful (13)

    "Nepotism"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Senior Fund Accountant in Charlotte, NC
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Citco full-time for more than a year

    Pros

    Free beer and wine! But i rather buy my own.

    Cons

    Turn over is high. If you make a year, you'll be a sr. citizen. Upper Management in the Charlotte office ... one word "nepotism." The office is almost shut down, all the work has been going overseas. Promotions and raises are only for nepotism. They fired so many people while i was there. Even HR had a lot of turn over.

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    Citco2018-08-15
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  4. Helpful (19)

    "Only if you're unemployed and in desperate need of a job......."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Jersey City, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Citco full-time for more than 3 years

    Pros

    Co-workers are nice....... Relaxed atmosphere Free beer

    Cons

    Honestly too many to name. Offer free beer in place of industry standard salaries and bonuses.......are you kidding me. Layoffs every quarter.......I've never seen employee moral so low in my 18 years of experience at other firms. Avoid at all costs.

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    Citco2017-12-15

    Citco Response

    December 18, 2017US Regional HR Director

    Dear Employee Thank you for taking the time to post a review. I appreciate the pros you listed. I agree, our staff make the environment a great place to work and the atmosphere is not often high pressured. The work is dispersed in a manner that minimizes tension. The Company is going through some changes. We are putting forth every effort to listen to our staff and provide more transparency as to decisions the company is making. In addition, as a result of our global employee opinion survey, we are working towards addressing concerns expressed throughout our global organization. I hope you can be patient and be a part and see some of the positive changes we are working to implement within the coming year. Again, thank you for taking the time to share your feedback. Executive Vice President - HR Operations (US and Caribbean)

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  5. Helpful (4)

    "Senior Fund Accountant"

    StarStarStarStarStar
    • Work/Life Balance
    • Compensation and Benefits
    Former Employee - Senior Fund Accountant in Charlotte, NC
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I worked at Citco full-time for more than a year

    Pros

    Free beer. Good compensation for area.

    Cons

    Boring!!! Low chance of advancement.

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    Citco2017-05-06

    Citco Response

    May 8, 2017Director, Retention Lead

    Dear Former Colleague - thanks for your feedback. I'm surprised to hear you found the work boring and then provide advice on on work processes that you could have had an influence on. As a Sr. Fund Accountant - you would have a good bit of work experience under your belt and a challenging and interesting piece of work for you would have been to see how you could make suggestions for improved work efficiency and productivity. We want our employees to raise this ideas up through management and when they do it can be one of the indicators that they are ready for a more senior role.

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  6. Helpful (6)

    "Avoid at all costs"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Citco full-time for less than a year

    Pros

    Overtime pay, free beer and drinks in pantry, semi new offices, decent salary, really nothing else that is a pro.

    Cons

    Management is terrible. No clear path for upward promotion and very little to learn at Citco in FSR. You are another warm body in a seat churning out as much work as possible - you are essentially a glorified administrative assistant in FSR where you look at spreadsheets and process changes until your eyes begin to glaze over. Very poor culture stemming from management being very far removed from plebeian low level workers. Also awkward dynamic of hiring usually poor performing temps to hire and also former Big 4 employees at the same time. No camaraderie whatsoever. Extremely high turnover that management does absolutely nothing about - it's sad when a small company such as Citco has higher turnover than a big 4. Also because of the high turnover I am pretty sure they give offers to 98% of the people that show up to interview. Do not let the allure of "summer Fridays" and free beer fool you.....truly not worth it.

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    Citco2017-04-16

    Citco Response

    April 21, 2017Local HR, Malvern PA Office

    Dear Anonymous It is unfortunate that you weren’t able to remain with the organization for a period of a year or more. If so, you would have seen that management does review the efforts of all staff and rewards its strong performers with a promotion. These are processed twice per year. We have a high retention rate within our FSR staff and what may have been perceived as turnover could be a result of our terminating a temporary staff contract. Our office does not have many resignations but we do have some not unlike any company. Our turnover rate is below market expectations. We are sorry to hear that your experience with the organization was not a positive one. We attempt to acclimate our new hires in a way that minimizes their feeling overwhelmed as we know the process is complex and at times tedious. Some individuals may be inclined to take ownership of the role and excel doing so, while others appreciate our patience in training and developing them to meet our quality standards. We also acknowledge that some of the responsibilities held by staff within FSR may not be initially challenging, but the role that our temps fulfill are necessary for the continued success of our organization. We have experienced great success in transitioning individuals from temp roles to full time employment and certain of those individuals have been promoted and are vital to our organization today. We appreciate your feedback and will take note of your comments related to team dynamics. The last and first quarter of a calendar year are quite demanding due to client mandates, however we attempt to offer various outlets for staff and their teams to socialize and have interaction outside of their daily job responsibilities. We continually look to improve and create new opportunities for staff and teams to engage and grow professionally. All the best in your future career endeavors.

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  7. Helpful (8)

    "Worst experience of my life"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Financial Reporting Senior Accountant in Malvern, PA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Citco full-time for less than a year

    Pros

    Decent pay Good work/ life balance for a client services firm Nice office Free beer Some people are nice but

    Cons

    Dysfunctional HR department Terrible team structure with temps to hire Some managers are not fit to lead and have no concept of leadership

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    Citco2017-04-13

    Citco Response

    April 21, 2017Local HR, Malvern PA Office

    Dear Former Colleague: Thank you for your feedback. We appreciate the pros listed and agree we have a good group of people we work with and make every effort to remain competitive with the market. While we also respect your right to critique areas where we might improve, we find certain of the comments to be in conflict with the positive views that you provided. Please note that HR and management are responsible for the positive statements that you made of the organization. It is unfortunate that you felt the need to express some negative sentiment around the HR function and certain management. I would have liked the opportunity to have known of your concerns while a member of our team, so that we could engage in a dialogue and attempt to find a solution to the concerns you have identified. Although you may feel some of our managers are not fit to lead, we do have strong leaders that would have been very willing to address your concerns. Our business has experienced great success with hiring temporary staff for over 8 years. Of course, there are some challenges; yet our client service teams require additional staffing during our busy season and this model has continued to evolve and proved effective over a long period of time. We have been fortunate to have been able to identify certain temporary staff for permanent roles. In my mind, this is yet another positive result of our structure. Conversely, After some training if someone has been identified as not grasping the expectations of the role their contract is terminated. The organization strongly supports internal growth and development and we have promoted many individuals to a management role. We will continue in our efforts to support our managers and provide them with the training they need to continue to succeed. Thank you for taking the time to provide us with your feedback.

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  8. Helpful (5)

    "Lay off and lay off"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - QA Analyst 
    Doesn't Recommend

    I worked at Citco full-time

    Pros

    None to mention.. only free beer.

    Cons

    Too many lay offs, they will hire you as a full time even for 1 year job and then just lay off. No growth plans. Don't get lured by beer bottles in cafeteria.

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    Citco2017-04-06

    Citco Response

    April 18, 2017Director, Retention Lead

    Dear Former Colleague - Unfortunately in today's economic environment - the best of companies struggle to make the best decisions for stakeholders and employees alike. In order to grow and maintain our business operations, Citco has at times needed to make some tough financial and people decisions. I can assure you a great deal of thought goes into the process to keep the impact to a minimum. Anyone caught up in such an action is treated with dignity and with a generous package to help them find their next opportunity.

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  9. Helpful (3)

    "Fund Accountant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Hedge Fund Accountant in Charlotte, NC
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I have been working at Citco full-time

    Pros

    - You get a good boss that cares about his/her employees than it's a great company, otherwise best of luck - Come consistently late (15-30mins) to work everyday day because the company is supposedly being flexible - Free beer? I'd personally rather have the cash than this fringe benefit. - You need a job out of college then its a great stepping stone, get your CFA / CPA for free -High turn over twenty something percent if you stay you take on many different roles

    Cons

    - Bosses not properly trained, learn what motivates or drives employees. - Some team's don't have a culture that makes you want to stay - No overtime if possible for team, therefore you sometimes have unrealistic work expectations - 401(k) matching is pretty low; not industry standard when you compare apples to oranges - Mandatory hour lunch ... this does not promote work / life balance ... so much for the flexiblity above - 9 to 6 work day

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    Citco2016-06-10
  10. "Good place if you want to work long hours"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Citco full-time

    Pros

    Free beer after five, casual dress permitted, good place to hone your excel skills, easy access to public transportation, work from home option for select people.

    Cons

    Hard to move up the corporate ladder. It helps if you can get in the old boy network, your day in and day out experience will be much easier.

    Citco2015-04-14
  11. Helpful (2)

    "Definitely not a long term place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Senior Analyst 
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Citco full-time for more than a year

    Pros

    Free beer and soda in the fridge. You can also wear jeans to work.

    Cons

    You are viewed as nothing more than just a body to get the work done for the client you are assigned to and basically have to do anything they say since SLA agreements are rarely enforced by management. Management has no clue what the team works on and only gets involved if there is an issue. Also little to no career advancement as the company would rather hire from outside than promote current well qualified employees from within who understand the process.

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    Citco2015-01-30
Found 99 reviews