ION Trading 200 Reviews | Glassdoor

ION Trading Reviews

Updated February 13, 2017
200 reviews

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Full-time Part-time

2.1
Star Star Star Star Star
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ION Trading Founder & CEO Andrea Pignataro
Andrea Pignataro
113 Ratings

200 Employee Reviews

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Pros
  • Helps the employee to maintain good work-life balance (in 9 reviews)

  • Good salary, working flexibility if required, pretty secure future (in 8 reviews)

Cons
  • This makes for a skewed work-life balance (in 9 reviews)

  • There is no HR department, they were all so miserable that they left at the same time (in 14 reviews)

More Pros and Cons

  1. "Senior Account Executive"

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

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

    Pros

    Opportunities to advance does exist if you work diligently and can find exposure. Very sharp senior management.

    Cons

    They've grown so quickly over the years, and decision making is top down rather than having an instilled sense of empowerment to mid management, such that people hesitate to move quickly in the any particular strategic direction.

    Advice to Management

    Transparency of future lay offs would boost morale and remove the fear based environment. More frequent strategic plan transparency, and empowering employees to make mid management decisions would allow a feeling of personal investment in the future.


  2. Helpful (1)

    "Terrible work environment"

    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
    Negative Outlook
    No opinion of CEO

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

    Pros

    Pay is inline with other jobs available.

    Cons

    Upper management do not engage with anyone but other higher ups.
    Extreme amount of report writing
    Constant changes in what is required from an employee.
    Feeling from clients is ION simply does not care.
    You are constantly wondering if today would be your last day. Layoffs seem to happen every quarter and morale is awful.

    Advice to Management

    Start listening to your employees. Stick with one plan and stop changing models on a quarterly basis.


  3. "Not great for Sales and Marketing"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales in Westport, CT
    Former Employee - Sales in Westport, CT
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Good products and good product people

    Cons

    Not a culture that supports Sales

    Advice to Management

    No advice for Andrea


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. "Product Support"

    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
    Negative Outlook
    Disapproves of CEO

    Pros

    Health Insurance, Great Coworkers. Unfortunately, there isn't a lot of pros because the cons will over-shadow any pro that might exist.

    Cons

    Pay does not reflect changes in local economic markets, poor management, no bonus, pay raises are rare, The company itself is not well organized. Poor communication starting from the very top (AP). Constant threat of lay offs. ION seems to lay off people 2 to 3 times a year.


  6. Helpful (3)

    "IONised"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Technical Analyst in New York, NY
    Former Employee - Technical Analyst in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Nice shiny building, close to transport hubs and fine drinking and eating establishments. Good view the London skyline. Nice shiny building

    Cons

    What little management that exists is of no consequence as everything comes down from the CEO. Their greatest asset, their employees, are kept in the dark

    Advice to Management

    I really cannot see how management can be improved as the culture, bred by the CEO, overrides all else; and seemingly rewards failure


  7. Helpful (8)

    "ION Trading in a nutshell"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Professional Services in New York, NY
    Former Employee - Professional Services in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    The following have already been said:
    1. Nice offices
    2. Good start for fresh graduates

    Cons

    The following have been echoed throughout most of the reviews:
    1. CEO is self-centric
    2. Information blackhole
    3. Current managers are "Yes" men to the CEO
    4. Growth through acquisition only; marketing is dead in the water
    5. Absence of cohesion of product offering/s given several companies bought
    6. Below market salary and low bonuses (if any)
    7. No upward mobility

    For newly acquired companies (i.e. Reval), expect the following:
    1. Any accrued bonuses from the previous year will only be given on the proviso that the new ION employment and non-compete contracts are signed.
    2. Expect current marketing efforts to be quelled.
    3. Many resources from the professional services team may be transferred to client support roles.

    Advice to Management

    None.


  8. Helpful (2)

    "Challenging Work Environment"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY

    I have been working at ION Trading full-time

    Pros

    Limited micromanagement
    Not a big meeting culture
    Some departments, such as my own (professional services), are given greater leeway to make decisions
    Interesting projects
    Some talented people to work with

    Cons

    Little to no engagement from management
    Almost no career progression or development
    No team atmosphere

    Advice to Management

    Upper management communication/engagement would need to radically change in order to improve the work environment. The general sense is that employees are not really treated with respect.


  9. Helpful (16)

    "Think very carefully before you join ION"

    Star Star Star Star Star
    • 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
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    The New York office is very nice, on the 50th floor and overlooks Central Park. There are some nice people working in the office there and everyone has a collective feeling of sympathy for their fellow colleagues.

    Cons

    You need to understand that if you join ION that you are sacrificing any chances of career advancement whatsoever. While no expense is spared when it comes to fancy offices, every expense possible is when it comes to employees. While starting salaries are reasonable, there have been no pay increases for years, and bonuses when given are tiny.

    The CEO insists on a hands-on approach to every single part of the company (including approving an order for more coffee!) and the result is that very little ever gets done.

    Benefits are awful for a company of this size (no 401k employer contribution, minimum contribution toward heath, etc). There is very little flexibility when it comes to hours or working remotely.

    Think very carefully before joining ION and signing that onerous non-compete which could basically put an end to your career in this industry unless you change your industry/profession entirely or are happy to stagnate in misery at ION. I would strongly recommend against joining.

    I would also point out what many on here have mentioned - there are a number of reviews below which are very clearly fake. If you read a review which jokingly refers to ION as a "Market Leader" or similar, you need to be aware that these have been written specifically to try and boost the dismal rating the company rightfully has on Glassdoor.

    Advice to Management

    Read the reviews on Glassdoor and actually address them.


  10. Helpful (12)

    "Just not a happy place to work."

    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
    Disapproves of CEO

    I worked at ION Trading full-time (More than 8 years)

    Pros

    A great place to work if you enjoy being underpaid, treated poorly and watching senior management drive clients away.

    Cons

    Gloomy corporate culture and nasty non-compete clauses.


  11. Helpful (32)

    "The real story"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Client Services in New York, NY
    Current Employee - Client Services in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Very little other than really nice offices (however consider this comes at a cost to your compensation). Occasional travel. A new company logo

    Cons

    "They were pretty open about the bad reviews here, most due to some early mistakes of buying out other companies"

    I noticed this comment on the interview section of GD and let me tell you that the member of staff that told you this is simply incorrect and is not giving you anywhere near the full story.

    Let me start by saying I have worked for this company for over 6 years and I'm not from one of the companies that ion has acquired.

    The negative comments on glass door although partially could be attributed to ions aggressive acquisition strategy, are really related to a much bigger problem with the organization and its management.

    I will focus on FRC as this is the area I work in, however the comments in general are relevant to all areas of the organization mainly because the issues at this company are all down to senior management.

    FRC was defined as a new business unit last year with a new management structure being implemented with the aim for the unit to act autonomously and manage its own budget/p&l. Management explained to staff that the mistakes of the past were behind us and that going forward people would be given real responsibility, rewarded if they performed well, reprimanded if they didn't and transparency would be given into the performance of the business unit. This was all a big lie.

    We are now approximately a year into this change and all that can be said is that a large number of people have been reprimanded and fired. There has been no transparency into performance except for a meeting held recently where we were told of the business units performance and that no one would be getting a pay rise or bonus. We missed target...sorry what was the target? Who set this? Why weren't we told or updated on progress? I'm not greedy and understand that sometime companies given poor performance can't always increase pay or pay discretionary bonuses, however to go a full year with no update to staff on performance and then just hit them with such a negative update is unacceptable. Where was the supposed improvement in transparency?

    Also consider that end of year compensation discussions are typically held at the end of the year, sure in past years it has sometime been done in February/march (every year it gets worse and they push it out). This year nothing was said, management just tried to ignore the topic (as I assume they knew it was bad). It was only when staff were so irate and put enough pressure on management did they bother to actually address the subject. It took until mid May to have this discussion, the content of the discussion I touched upon in the last paragraph.

    Anyway things are changing now and for the better (at least for the staff). The few staff that remain that have any talent or knowledge are starting to see the light and are leaving for new jobs (me being one of them).

    If you are a graduate considering working for ion you are being very naive in thinking that these comments are just a "few bad apples" or that "it's down to mistakes in the past". I appreciate you are straight out of college and likely desperately need a job but it's important you get this right. The last thing you want to do is start at a company, realize all of what I have just explained and then leave having to explain to the next company you interview at why you left after such a short period of time (and when it was glaringly obvious it was a bad choice for you in the first place)!

    Advice to Management

    No advice to be given, it's a waste of time. The comments on glass door across the last few years have given advice and nothing has changed so why bother.



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