Interactive Brokers Reviews | Glassdoor

Interactive Brokers Reviews

Updated September 17, 2017
119 reviews

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3.7
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Interactive Brokers Chairman, President, and CEO Thomas Peterffy
Thomas Peterffy
70 Ratings

119 Employee Reviews

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Pros
  • Free lunch from area restaurants is a nice perk (in 35 reviews)

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

Cons
  • Limited vacation time with no work/life balance, new-hires would receive 10 days vacation, 6 days sick time, and 3 days bereavement (in 6 reviews)

  • Work from home option almost non-existent (this has to do mostly with security concerns and the nature of business) (in 5 reviews)

More Pros and Cons

  1. Helpful (1)

    "Work hard and get real responsibility"

    StarStarStarStarStar
    • 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
    Positive Outlook
    Approves of CEO

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

    Pros

    Get to see your actions shape the business. Lots of smart talented people to learn from.

    Cons

    Complex business and systems take some time to learn.


  2. Helpful (2)

    "Decent place to work"

    StarStarStarStarStar
    Current Employee - Senior Software Developer in Greenwich, CT
    Current Employee - Senior Software Developer in Greenwich, CT

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

    Pros

    Close to city. Decent pay and benefits. Not many levels of management. There is little to no red tape. This is the reason decisions are made at a very fast pace. Every workplace has politics. So does this. But the politics is not as bad as other places.

    Note - The review written under "Used to be a good place to work" does NOT seem to be written by a programmer. The individual has pretended to be a programmer to hide his/her identity. Because he/she clearly does not know the good things in software development happening in the company.

    My personal experience is that management will take care of you (in a good way) if you are honest and open about things. President is making lot of changes (in a good way) as far as software development process is concerned. Things that were done in ad-hoc way (which affected many systems) now seem to be more structured.

    Cons

    Employees in different groups are treated differently.

    Lot of fights between groups. No one wants to take blame. General attitude is that if something is incorrect, it must be because the other group did not do it the right way.

    Advice to Management

    - Treat all employees the same. It is not fair to employees who work long hours and are under immense pressure to deliver projects but are not treated on par with the ones who work less or have less pressure to deliver.

    - Sometimes tasks are asked to deliver in few days. This gives programmers less time to think about writing good code because the focus is delivery and not quality.

    - Impact of big projects needs to thought through end-to-end. If it is small change in one system, it does not mean it is a small change in other systems as well. Involve all major players that are part of end-to-end system.

  3. Helpful (1)

    "software developer"

    StarStarStarStarStar
    • 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
    Positive Outlook
    No opinion of CEO

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

    Pros

    Got great supervisor, engaged into great projects with latest technology. The salary is good. A great start for a new graduate.

    Cons

    The management still can be improved.

    Advice to Management

    Try to be more open-minded to the advice from employees.


  4. Helpful (5)

    "Used to be a Good Place to Work"

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

    I have been working at Interactive Brokers full-time (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.

    Advice to Management

    Readers of this review beware! Management explicitly reminds us to write positive reviews about our company throughout the year. If you see a four or five star rating, it is almost guaranteed to be a false statement!

    Life at Interactive Brokers was far better when the founder and CEO was running the show. The current President needs to learn that he alone, can not handle all aspects of the company. President also needs to educate himself on how planning projects, team work, and meeting deadlines that are set in months (not days), is what drives a successful company. President needs to learn to value his employees through more than just good pay, most employees feel extremely under appreciated in some way. Steering committee needs to push back on poor decisions coming from the top. All of management needs to learn that micro-managing individuals is not the most efficient way to get things accomplished. Interactive Brokers needs to integrate more project planning into its workflow to reduce headaches and bugs in software releases and to greatly reduce the overall stress of the work environment. The company as a whole needs a cultural shift, many people stay at the company simply because of the pay, but are all but satisfied. The company needs to learn how to work like a well oiled machine, with many moving parts that all work together, not a solar system where each planet revolves around the president. At the end of the day, if your employees aren't happy, your customers certainly will not be. I believe poor management will lead to the buying out of this company by one of our competitors because of our own failure to communicate with each other in order to drive innovation. It's just a shame.


  5. "Growth and Stability"

    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 Interactive Brokers full-time

    Pros

    Great people, amazing growth and stability of the company

    Cons

    A little better communication

    Advice to Management

    Empower your employees to do great things and support them


  6. "Employer Review"

    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 Interactive Brokers full-time

    Pros

    IBG is a great place to work! Fast-paced, progressive & friendly environment.
    The work is challenging & never boring, and there’s a particularly strong focus on technology and increased efficiency through automation.
    Another wonderful aspect of the company is its lack of a bureaucratic and formalistic work-place environment.

    Cons

    I have not personally observed any negative factors


  7. Helpful (1)

    "Client Service"

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

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

    Pros

    Great work environment. Supervisors and managers who work with and not against. Free lunch. Solid benefits package.

    Cons

    Pay could be better. Vesting schedule as well.

    Advice to Management

    Better hardware please.

  8. Helpful (2)

    "Hate it here on most days"

    StarStarStarStarStar
    • 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 8 years)

    Pros

    Very fast paced environment, great for self starters able to work and think independently. Great benefits and salary.

    Cons

    Very fast paced environment (seriously, sink or swim!) so many are not able to handle it. No training. No work/life balance. No people skills. High pressure environment. People will get chewed/cursed out in front of their co-workers.

    Advice to Management

    Prioritize training. Hire people who know how to manage people. Promote from within.


  9. Helpful (1)

    "Stable company, good pay, meritocracy"

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

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

    Pros

    Very stable company, the brokerage business has big inertia and we are in a good position to have much bigger market share in the future. When a project does not pan out the people from the group are redeployed to other departments instead of getting laid off. Many people plan to retire from here.

    Good work-life balance, I rarely do overtime and I was never expected to do so. If your task has a deadline management will give you help instead of expecting 16 hour workdays.

    Compensation is very good, especially for long term employees when the stock vesting ramped up. Bonus is very reliable, I haven't seen a decrease in it for the past decade even when my department was only breaking even. As far as stable companies go they pay top dollar.

    Most of the management are former engineers and can actually understand your ideas/problems. The good news is that if your idea is valid from business perspective they will be happy to allocate resources to it. On the other hand if it is just let's bring in the next cool 3rd party library or let's refactor some code that nobody touched in years, they won't buy it.

    Cons

    The stock vesting period of 7 years is too long.

    If you are looking for career advancement above being a senior developer or maybe a team leader it is unlikely to happen here. The managers have been here for decades and they are not going anywhere. Since the business is very mature there are no new departments forming with big upside.

    Advice to Management

    It would be great to have learning opportunities sponsored by the company.


  10. "Going great, so far"

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

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

    Pros

    Stimulating and challenging work, fully paid health care benefits, competitive pay structure, flat structure, company sponsored lunch, fantastic work life balance.
    No bureaucracy. Absence of unproductive meetings.
    Lot of interesting projects to work, with opportunities to grow.
    Recruitment process is fairly transparent.

    Cons

    No work from home options plus limited vacation/sick time as compared to industry standards.
    To thrive here, one needs to be a strong self-starter (no hand-holding or mentoring here). Depending upon your personality type, this could be a pro or a con.

    Advice to Management

    Invest resources in employee training programs which would result in greater employee efficiency and effectiveness.
    Increase the number of vacation days.


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