Interactive Brokers Reviews in Greenwich, CT | Glassdoor

Interactive Brokers Greenwich Reviews

Updated April 8, 2017
39 reviews

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Greenwich, CT

3.5
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Interactive Brokers Chairman, President, and CEO Thomas Peterffy
Thomas Peterffy
26 Ratings

39 Employee Reviews

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Pros
  • Free lunch from area restaurants is a nice perk (in 28 reviews)

  • no nonsense" philosophy & no politics / red-tape (in 8 reviews)

Cons
  • Work from home option almost non-existent (this has to do mostly with security concerns and the nature of business) (in 4 reviews)

  • Under appreciated by upper management (in 5 reviews)

More Pros and Cons

  1. "Overall nice company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Software Engineer in Greenwich, CT
    Current Employee - Software Engineer in Greenwich, CT
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Secure job (layoff very rare); relaxing working env; very nice coworkers; almost no politics; good location; good benefit; regular nine to five hours

    Cons

    Hard to gain promotion because of flat structure; pay increase slow; innovation not very encouraged; long incentive stock vesting period

    Advice to Management

    Put good new hired people in management to look at firm from fresh viewpoint


  2. Helpful (3)

    "Worker"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Greenwich, CT
    Current Employee - Anonymous Employee in Greenwich, CT
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I have been working at Interactive Brokers full-time (More than 10 years)

    Pros

    Stability, programmers welcome, cutting edge technology, company growing

    Cons

    Never worked for a company that cares so little about people...... Thomas will never share his riches.... old school European Hierarchy, few rewarded except a top.... will never hear good job

    Advice to Management

    Technology makes companies good..... people make organizations great!


  3. Helpful (1)

    "Immature"

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

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

    Pros

    - Great compensation. Salary & benefits are possibly the best you'll find for the role you'll have.

    - Free lunch.

    - Flat org structure. It's generally easy to make yourself visible to upper management.

    - Very little red tape. Being granted access to systems or pushing changes to an environment is generally possible with few barriers.

    - Non-demanding work schedule. Sometimes overtime is needed, but overall staying more than 8 hours is entirely up to you.

    Cons

    Everything about this company screams "immature." Most of upper management has tunnel vision about the way they think things should be done. Ultimately, this stubborn mindset drives culture at the company, which in turn drives all processes and the way that things ultimately turn out.

    The culture that is created is stultifying. Most efforts to institute change never come to fruition because the culture is unyielding.

    Here are some highlights about the "culture" I am referring to:

    1) Absence of project managers

    No one truly manages projects at this company. Projects that you receive are generally a vague thought of someone's with no initial planning and no timelines. This means that no one is actually responsible for keeping a project on track and you don't know who is responsible when something goes wrong. Usually, when something does go wrong, blame ends up on whoever is least capable of defending themselves.

    2) Absence of business analysts

    Requirements for projects are usually just as vague as the projects themselves. Since no one is formally tasked with being a business analyst for a project, this means that requirements you receive can (and do) come from anyone who is employed at the company. Most people are pretty bad at requirements gathering, which is why the role of business analyst exists in the first place, but no one actually has that role at this company.

    3) Politics driving implementation

    A significant chunk of important decisions that are made - i.e. which solution to use for a project, which manager should be given a certain project, how to prioritize tasks - are based entirely around politics. There are countless terrible implementations in place that were put there because of who demanded it rather than deciding on whether it made sense to do.

    4) Rivalry between groups

    Competition between groups is encouraged, which makes collaboration always difficult and sometimes impossible. Managers will sometimes try and steal projects from other groups, even if their declared title and group have nothing to do with that project.

    5) Lack of clear ownership & responsibilities

    Since groups are in constant competition with one another, it is often unclear which group is best suited for a task. Even if your group has a clearly stated role, nothing is in place to stop other groups from attempting to fulfill that role too. Instead of trying to create employees that are specialists, IB generally tries to create "jack of all trades" employees. The end result of this is just confusion.

    6) Lack of global communication infrastructure

    This company is not well suited for internal communication on a global scale. Most meetings are still envisioned as physically cramming people into a room, instead of utilizing conference lines, screen sharing and instant messaging. This also contributes to a very big stigma about working from home, since someone at home is generally viewed as "unreachable and not working."

    Advice to Management

    Consider that as your company grows, you need to re-think how you do things in order to maintain some semblance of quality. Viewing through the prism of "I want things to be done as fast as they were 20 years ago" is out of alignment with where the company is now. Approaches that worked with negligible repercussions for a smaller company will not always continue to work.


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  5. Helpful (2)

    "Good Benefits"

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

    I have been working at Interactive Brokers (More than 10 years)

    Pros

    Smart people work here. Leaders in their industries and have built a very successful enterprise. This is an excellent place to start a career and gain valuable experience. Benefits are excellent. A collaborative workplace is provided and meetings have been streamlined to allow for more productive work.

    Cons

    There is little room to advance. Those that have built the business are retaining all intellectual property and profits. You will earn experience here but there is no chance to advance. Collaboration may lead to your work/ideas being attributed to others. Your failures are your own, your successes may be not be.

    Advice to Management

    Broaden your horizons. Initiate apprenticeships. Allow employees to advance to positions with more responsibility and pay. Delegate, share responsibilities, play fair. Train industry leaders and allow employees the chance to share in the wealth.


  6. Helpful (10)

    "work hard, get paid, go home"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Software Engineer in Greenwich, CT
    Current Employee - Software Engineer in Greenwich, CT
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great place to learn and grow for smart, motivated, self-driven individuals. No bureaucracy, unnecessary meetings or ridiculous 360 year-end review process. Growth and compensation is based on merit. Responsibility and ownership is given quickly to people that want it and have proven they can handle it. Flat reporting structure. Vacation and sick day policy improved recently. Most (if not all) managers have grown into their position organically. In short, working hard and smart is recognized and rewarded.

    Cons

    Whether the below points are pros or cons is subjective :

    - no mobility across teams
    - not a place for individuals that require hand-holding
    - no classes or formal off-site learning events
    - few social events

    Advice to Management

    sharing company news and achievements in a monthly email would motivate employees


  7. Helpful (3)

    "Financial Compliance Officer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Compliance Officer in Greenwich, CT
    Current Employee - Financial Compliance Officer in Greenwich, CT
    Doesn't Recommend
    Neutral Outlook

    I have been working at Interactive Brokers full-time (More than 8 years)

    Pros

    Interactive Brokers LLC has great health benefits, salaries, and stock compensation packages. For Non- Managers one can accrue up to 22 days off. The managers are all very smart and good workers. The managers will always share their opinion on matters.

    Cons

    The managers are all delusional of how they are supposed to treat their underlings. The managers are micro managers and will be overly involved in every aspect of the work day. If an email was not sent at a specific time or if a report was not formatted properly, nastiness would ensue. Almost all the work is deadline driven and my manager could not handle the stress of deadlines. He would become nasty and overly reactive to very petty matters. Many times he personaly became much more of a burden to work and it would outweigh even the stress of the job itself.

    Advice to Management

    Seek much better human resources in order to control the very top heavy/ over bearing managers in the company. Some of the managers need employee relations guidance and help.


  8. Helpful (2)

    "ok place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Software Developer in Greenwich, CT
    Current Employee - Software Developer in Greenwich, CT

    I have been working at Interactive Brokers full-time (More than a year)

    Pros

    You get to work independently. You will be given a bunch of programming tasks -- a list and you have to crank it out, with minimal supervision.

    Cons

    Middle managers are useless. Never take responsibility for anything, do not want to be involved in anything. All they want is a weekly update email which they cut and paste and forward to senior management. Also completely insecure about their abilities.


  9. Helpful (11)

    "Get your work done, get paid, go home."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Software Developer in Greenwich, CT
    Current Employee - Software Developer in Greenwich, CT
    Recommends
    Neutral Outlook

    I have been working at Interactive Brokers full-time (More than a year)

    Pros

    Pros:

    * There is always work.
    * There are always opportunities to learn something new.
    * Management appears to be intelligent in their field as most of them used to do the dirty work before they got promoted.
    * Management seems to be approachable and open to input.
    * Medical (fully covered)
    * Decent bonuses
    * Simple management structure
    * No *forced* upward mobility
    * Lateral (exponential) growth opportunities

    If you're looking for a corporate environment where you'll spend time interacting and socialising, go to training, meetings, spend weekend at developmental camps holding hands singing kumbaya, this place is not for you.

    If you have a set of skills to that you are proud of and can work hard and dedicated to deliver, your work will be recognized.

    P.S. To people complaining about free lunch, you can always bring your own and take your restaurant lunch home, give it to your neighbour, or hungry guy around the corner.

    Cons

    * Lack of sick days - people show up to work sick
    * Work from home option almost non-existent (this has to do mostly with security concerns and the nature of business).

    Advice to Management

    * Allow work from home, at least 1-2 days a month
    * Encourage / reward innovation


  10. Helpful (7)

    "Decent salary and benefits but a very dictatorial culture"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Greenwich, CT
    Former Employee - Anonymous Employee in Greenwich, CT
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Interactive Brokers full-time

    Pros

    The company has a no nonsense, hands on work culture that results in great learning and subject matter expertise development.

    Cons

    Due to the dictatorial attitude of senior management, creativity is not always encouraged. Additionally, eastern European employees appear to get preferential treatment that results in much discontent and disharmony.

    Advice to Management

    I'd like to say that people matter but this company's upper management quite frankly does not care. There is no use providing any advice here.


  11. Helpful (1)

    "My Experience"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Database Administrator in Greenwich, CT
    Current Employee - Database Administrator in Greenwich, CT
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Interactive Brokers full-time

    Pros

    Supportive working environment
    Great Place to learn and grow
    Knowledgeable management
    Knowledgeable staff
    Free Health Care
    Free parking
    Grest location
    FREE LUNCH

    Cons

    Greenwich is Very Cold
    Very Competitive hiring process
    Interview process was very long
    Not a whole lot of negatives, its a decent place

    Advice to Management

    Higher limit on lunch.
    Dental Care
    More colrfull decorations would be nice


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