GFI Group Employee Reviews about "bgc"

Updated Jan 2, 2020

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Found 8 of over 148 reviews

3.3
73%
Recommend to a Friend
38%
Approve of CEO
GFI Group CEO Colin Heffron
Colin Heffron
36 Ratings

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Top Review Highlights by Sentiment

Pros
  • "Good people to work with(in 15 reviews)
  • "good work environment, colleague, atmosphere(in 5 reviews)
  • "Friendly colleagues(in 4 reviews)
  • "Competitive pay and a great place for an aggressive broker to make a very good wage.(in 3 reviews)
Cons
Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

Reviews about "bgc"

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  1. 5.0
    Current Employee

    Check

    Jan 24, 2017 - Anonymous Employee 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Work environment, dress code, upside

    Cons

    BGC, Cantor, Reg hurdles etc

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  2. 4.0
    Current Employee, more than 3 years

    Was a great company, been getting worse

    Aug 12, 2015 - Software Developer in New York, NY
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Relaxed fun environment, reasonable flexibility and freedom with technologies that can be used in projects, few late nights, relaxed dress code

    Cons

    Bad health benefits, no 401k match, after acquisition by BGC all IT was moved to a new location that isn't as nice as the previous one, feels crammed, no kitchen. Constant rumors of layoffs after the acquisition which causes stress

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  3. 4.0
    Former Employee, more than 10 years

    Co-workers Were A lot of Fun

    Jan 16, 2018 - Senior Broker in New York, NY
    Recommend
    CEO Approval
    Business Outlook

    Pros

    The freedom to really build a successful brokerage business

    Cons

    Since the merger with BGC, it’s not the same family feeling

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  4. 4.0
    Current Employee, more than 1 year

    Broker

    Oct 20, 2017 - Broker in New York, NY
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Great people, Great hours depending on your product, Casual dress, Good tech

    Cons

    Changing industry that is trying to be figured out by all broker shops (including GFI); More of a bureaucratic culture after merger with BGC.

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  5. 2.0
    Former Employee

    Went way down hill after Cantor take over

    Nov 3, 2018 -  
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Not much missed it buy few years

    Cons

    Bgc and Cantor are horrible

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  6. 3.0
    Current Employee

    Poor FENICS Group

    Jan 25, 2018 - Anonymous Employee 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Good vacation flex, flexible hours and accomodating

    Cons

    BGC, benefits, management scared of strong candidates under them

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  7. 3.0
    Current Employee

    Fenics

    Nov 27, 2017 - Anonymous Employee 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Flexible work environment, lighthearted coworkers

    Cons

    BGC, Cantor, lack of raises.

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  8. 1.0
    Former Employee, more than 3 years

    Ponzi Scheme

    Jan 2, 2020 - Broker in Hong Kong
    Recommend
    CEO Approval
    Business Outlook

    Pros

    There are some really genuinely nice people to work with, who will help you to learn and give you opportunities If you are performing well you have decent control over your working hours The market is very inefficient and backwards in terms of technology, if you are willing to work hard there are plenty of opportunities to work in a smarter way than everyone else

    Cons

    Unfortunately GFI has recently gone through some regulatory fines (latest one Oct2 2019 - $25m USD) and as such they are tight on money. Unlike other companies their response has not really been to take responsibility so well, instead they are finding fast track ways to recoup this money so far they have not paid employees bonuses that were due (2019) -ie bonuses were announced and then paid late or not paid at all in Sep/Oct 2019, in some instances they have changed the rules. - an example is that the term bonuses was changed to "cash advance" which meant that for several years (close to a decade) they can claim the money that they paid you back without any reason provided. All these rules were changed after employees had worked the period in question and earned the bonus, then were told actually this is the new system. GFI Group is owned by BGC now - the management at BGC is firstly more biased towards the businesses that they owned prior to owning GFI - this is not surprising of course, perhaps its natural but it doesn't help if you are an employee at GFI. All of the decisions for GFI's future are made over at BGC now and the management over there are very stingy. BGC shares are actually publically listed and its a stock that is obviously bought and sold in large proportions by the staff, so the stock's performance since management took over can inform you what the staff thinks about them. As there are with the entire industry there are likely to be more investigations into practices. There is a huge backlog of activity that the regulators have not looked into and I imagine this process will continue into the next few years. Current Management is poor, they lack direction, they make many mistakes because they are not firm on what their plan is and they have no idea on what is going on in the business day to day. Those running the Asian businesses have never even done the job, so they have no idea what it entails which doesn't really make me feel like this is going to improve in the short term. The commissions and market shares of inter dealer brokers are constantly going down, with financial institutions and clients finding cheaper and more efficient ways to trade. The interdealer broker business is a dying one anyway, with the addition of a sneaky management who is trying to squeeze its employees, not paying them what they earned and constantly changing the rules on them after the fact. I would strongly recommend against choosing a career at GFI group.

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    4 people found this review helpful
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