Interactive Brokers Programmer Reviews | Glassdoor

Interactive Brokers Programmer Reviews

Updated Aug 21, 2017

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2.1
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6%
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100%
Approve of CEO
Interactive Brokers CEO Thomas Peterffy
Thomas Peterffy
3 Ratings
  1. Helpful (2)

    "A Meritocracy for Programmers"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Programmer/Business Analyst in Greenwich, CT
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Interactive Brokers full-time for more than a year

    Pros

    I've been at "IB" for roughly two years after a rather tortuous journey at several large banks. There are basically two primary businesses at IB : 1. The market maker (electronic trading) and 2. The automated brokerage. I work for the latter. Probably the greatest feature (as a programmer) working for this company is that management, and management's management, are all programmers. As a result, the intricacies and difficulties of writing good code are understood by higher-ups and rewarded. For example, you will never have to waste your time explaining to a panel of bureaucrats the differences between Java and Excel at IB. In terms of "culture", IB is certainly a for-profit business and as a result, management does expect their employees to contribute to the business while at work. It is generally frowned upon to shop for clothes or view Facebook during the day, although I must admit that we do (gasp) discuss non-work related topics along with taking the occasional afternoon stroll down Greenwich Ave. without the least fear of managerial reprisals. At IB, There is not much emphasis on team-building field trips or pinball-matchine break rooms like some companies have, although this is not what I personally look for in an employer, especially not when the economy sours. My impression is that IB's philosophy is to reward their employees with higher salaries and bonuses, rather than the aforementioned corporate perks. In contrast to some of the criticisms I have read below about management being intransigent, I have found new business ideas and technology to be readily embraced here... HOWEVER, be ready to make a business case for them. The utter absence of bureaucracy means decisions are made based on risk and potential profit, i.e. rationally.

    Cons

    There are a multitude of very smart people at this company, with a wide variety of different skills and knowledge. I think that it would be beneficial to have monthly presentations on different aspects of the business or different technologies people are using. Nothing like this is ever discouraged, it's just that no one is particularly proactive about it. We are a bunch of computer nerds so we like this stuff (or at least I do).

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    Interactive Brokers2014-09-02
  2. Helpful (17)

    "Used to be a Good Place to Work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Programmer in Greenwich, CT
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Interactive Brokers full-time for more than 10 years

    Pros

    Reasonable pay. Excellent health, dental and vision insurance coverage. Free lunch. Close to New York City,. Decent office buildings although they could use some updating.

    Cons

    Extremely political and toxic workplace because of poor management from the top down. Lack of overall company direction and vision. Recently elected President spends too much time micro-managing. Employees work, experience and knowledge are not valued if it does not meet the President's point of view. Customers are not valued, almost all decisions to change high-level applications come from upper management's feelings, not factual data. Verbal harassment is rampant between managers and employees alike. A lot of in-fighting between project groups makes it difficult to get things done efficiently. No project planning, everyday is chaos. You are not allowed to walk away from your desk for almost any reason. Limited vacation time with no work/life balance, new-hires would receive 10 days vacation, 6 days sick time, and 3 days bereavement. People past six years of service are capped at 16 days vacation, 6 days sick, and 3 days bereavement. There is absolutely no way to take unpaid leave if needed. There is no job growth, the company does not keep up with modern technologies. Management will also not allow you to transfer to one of our several domestic or international offices. The company also does not utilize analytics to measure the success or failure of its products. There are no mid year reviews, or raises, or bonuses other than year end.

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    Interactive Brokers2017-08-21
  3. Helpful (10)

    "Mixed feelings"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Programmer in Greenwich, CT
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Interactive Brokers full-time for more than a year

    Pros

    - SOME employees are very smart, very good at what they do. - Agree with other commenter that business is run in an ethical manner. ie. doing the right thing even if no one is looking. - Still on the cutting edge in some areas. - Minimal bureaucracy.

    Cons

    - Current incentive structure (no incentivization of employees) guarantees that the smartest and most motivated will leave. This is why HFTs ate their lunch. - Low pay relative to industry. - No growth opportunities. - Company is kept alive by H-1B slave labor. - Some groups are wildly incompetent (eg. HR, Marketing) due to perceived irrelevance by mgmt and these should be fired en masse. - Very anti-social office culture.

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    Interactive Brokers2012-08-17
  4. "great experiences with IB"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Programmer in Stamford, CT
    Approves of CEO

    I worked at Interactive Brokers

    Pros

    relaxed atmosphere, helpful coworkers and good benefits. the staff is placed in an effective way, so everyone has to work hard

    Cons

    not sure about the location, the wait between interviews are so long. the initial test took about an hour to complete.

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    Interactive Brokers2012-03-16
  5. Helpful (2)

    "Well paid... do you have additional requirements? Well..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Programmer in Budapest
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Interactive Brokers

    Pros

    - above average salary - small but cozy office (Budapest) - lunch is on the house

    Cons

    - old system, outdated technologies - very slow decision making - one often gets long and tedious tasks - no way to get promoted - illogical dresscode (no jeans...??? There are no customers around...)

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    Interactive Brokers2015-03-09
Found 5 reviews