DTCC Reviews | Glassdoor

DTCC Reviews

Updated October 17, 2017
290 reviews

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3.1
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DTCC President & CEO Michael C. Bodson
Michael C. Bodson
135 Ratings

290 Employee Reviews

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Pros
Cons
  • People are overloaded with work- make sure you ask about work/life balance (in 13 reviews)

  • Some legacy senior management positions are held by people without knowledge or skills relevant to their team (in 16 reviews)

More Pros and Cons

  1. Featured Review

    "Analyst"

    StarStarStarStarStar
    • 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 DTCC part-time

    Pros

    A wonderful place to work and there is a work and life balance

    Cons

    There is none that I can think of right now


  2. "Great people"

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

    Pros

    - Great work life balance
    - Friendly environment
    -Many groups and programs designed for employee growth, networking and interaction

    Cons

    -seems to be an older demographic than most places

    Advice to Management

    Keep recruiting younger, energetic talent

  3. "Associate Manager Risk"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate Manager Risk in Jersey City, NJ
    Former Employee - Associate Manager Risk in Jersey City, NJ
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Company promotes career mobility and internal transfers . Work life balance (depending on department)

    Cons

    Too many layers of management (depending on department). Risk department has more managers, mid level and senior managers than people who do work.

    Advice to Management

    Stop creating arbitrary levels of management just to promote people. People manager should have peolle skills. Flatten out hierarchy and eliminate matrix reporting.


  4. Helpful (1)

    "Attempting to reinvent themselves as a quasi commercial entity"

    StarStarStarStarStar
    • 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
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at DTCC full-time (More than 10 years)

    Pros

    - Great work life balance
    - some very intelligent people work there
    -

    Cons

    - treated by many as a civil service job; do what you have to do, and nothing more
    - so much red tape that accomplishing things sometimes becomes difficult


  5. "DTCC is the place to be..."

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

    I have been working at DTCC full-time

    Pros

    There are good people here that work very hard. Salaries are competitive. Good work/life balance. Telecommuting options available. Senior management seem to be heading in the right direction.

    Cons

    We have people that have worked at the company for a while and at the same time are bringing fresh talent into the firm. I am not of the belief the two parties do NOT talk to each other much (if at all).

    Advice to Management

    Focus on optimizing current technology, streamline processes (GTD) and seriously look at how we can do things better.


  6. "Management needs to fire bad apples"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at DTCC full-time

    Pros

    Flexible work arrangements, good benefits

    Cons

    Many senior technologists don't know how to handle basic tasks and pawn off everything to lower level developers. No recognition to who is actually getting the work done.

    Advice to Management

    Fire the many slackers so as to better retain the talent


  7. Helpful (1)

    "Great Company, Not So Great Management"

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

    I have been working at DTCC full-time

    Pros

    Overall company is a great place to work for. Employees work very hard to succeed common goals.

    Cons

    Management positions are given based on 'relationships' and not qualifications. New managers are coming in that are clueless, with no experience in the area they are managing, and destroying the entire department.

    Advice to Management

    Promote based on qualifications and not because it's your friend.

  8. Helpful (2)

    "Better than most"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Hard Worker
    Former Employee - Hard Worker
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at DTCC full-time (More than 10 years)

    Pros

    DTCC is a company like no other. I have heard many people say the worse day at DTCC is better than the best day elsewhere. To have a great career there are a lot of factors you have to take into consideration. Sadly, many people fail to decode the unique culture which leads to a great and happy career. I hope my review will help you though I will intentionally leave out some of my secrets to what it takes to be successful.

    1. Be a team player. There are more good people than bad at DTCC and most if not all of the bad came from other companies with a cut throat culture. If you are honest, hard-working and positive, your reputation will grow to which you develop the recognition needed for a lateral move or a promotion.

    2. DO NOT BURN bridges no matter how bad a person may have been to you.

    3. Think beyond your job responsibilities and understand how they fit into the big picture. It will make you stand out and placed into the select list of candidates who are eligible for the next level.

    As for the pros here they go.
    1. Great pay- great bonuses. Even on a bad year, your merit and incentives will rarely be affected unless you broke one of the rules I mentioned above.

    2. Great work life balance and management is very receptive to family first demands pending they can trust you getting the work done on time and you are not abusing their trust.

    3. People don't want to leave because hands down, it's one of the best places to work (also a con and I will explain below). Work may be demanding, but it's fairly rewarded during compensation time.

    - All levels of management are approachable and warm. The CEO is not only genuine and funny but you can send him a direct message and he will respond to you. DTCC's open door policy is real and not just for show.

    -Company is trying to promote diversity on all levels in order to become more competitive.

    - even during layoffs, the process is fair and candidates get great severance packages.

    -401k is fully bested since day one, even though the match is lower than most companies.

    Cons

    -People don't want to leave. I mentioned as a pro above but it becomes a con if you are trying to get one of the few opportunities for advancement at or above Director level.

    -Any mistake you made, no matter how far back will be held as a reason for not getting a promotion. You would have to work very hard and develop sponsors in very powerful positions to overcome them and beat out other candidates with clean slates.

    -Mike Bodson's push for diversity is lost in the ranks as Middle Management is fearful of taking the risks, especially when promotions are rare and highly visible. Middle Management rather use someone who they are comfortable with, who in most cases delineates from the DNI goal, rather than taking risks.

    -Constructive criticisms are rarely given. People will not tell you about your shortcomings but use it against you during hidden conversations about your future. Which brings me to my main point, Management needs to focus more on talent development when they see a diamond in the rough.

    Advice to Management

    -Promote more out of the box thinkers. DTCC is failing on creating new businesses because you are hiring people who think like you.

    -Putting a new outfit on the same doll is not innovative. You have great talent and should be just as innovative as Amazon if you are willing to release some control to others. Your job will not be in jeopardy if you do.

    Very important-Be careful who you hire from the outside. Sadly, the culture has eroded a little over the years because of external hires who fail to embrace our unique culture. Thankfully, lifers are able to ensure what makes the company great is not lost.

    -Hiring a bunch of MBA grads with no experience while highly qualified internal candidates were overlooked was one of your worse mistakes. Stop making highly secretive meetings which lead to out-of-touch decisions. It further alienates your candidates who bear with the insults because overall the company is still better than elsewhere.


  9. Helpful (3)

    "Project Manager"

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

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

    Pros

    Compensation keeps people from leaving.

    Cons

    Not organized; gap between management and employees.

    Advice to Management

    Employees are far more perceptive than management thinks


  10. Helpful (3)

    "HR going downhill again. Sad to watch. Comp dept. went from bad to worse."

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

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

    Pros

    Amazing what we do for the industry but can even tie our own shoes (broken internal mess everywhere) and auditors everywhere.

    Cons

    HR is weak. They got better a few years ago and then fell flat. Dinosaurs became extinct for a reason. In HR they just move them around. Even new HR leaders are dinosaurs from other areas. Clean house.

    Advice to Management

    HR & Finance: Stop scaring away new top talent. Change starts at the top.


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