Interactive Brokers Reviews | Glassdoor

Interactive Brokers Reviews

Updated July 23, 2017
76 reviews

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Current Employees

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

76 Employee Reviews

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Pros
  • Free lunch from area restaurants is a nice perk (in 34 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 5 reviews)

  • Under appreciated by upper management (in 5 reviews)

More Pros and Cons

  1. "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


  2. "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.

  3. "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.


  4. "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.


  5. "Never been happier"

    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 (More than a year)

    Pros

    Free lunch. Fully stocked kitchen. Interesting work. VERY competitive salary.

    Cons

    Nothing to complain about. Absolutely love it here. Will likely never leave.

    Advice to Management

    None.


  6. "Great company"

    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

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

    Pros

    Working with the latest software technologies, free lunch, great benefits, flexible hours, nice working environment.

    Cons

    Nothing to complain about so far

    Advice to Management

    Consider employees' suggestions for any improvement. Otherwise, keep up the good work!


  7. "Great experience so far"

    StarStarStarStarStar
    Current Employee - Anonymous Employee in Greenwich, CT
    Current Employee - Anonymous Employee in Greenwich, CT
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Interactive Brokers full-time

    Pros

    I have been working here less than a year, and it has been excellent experience so far. Stable growth company, good pay and benefits, free lunches and snacks, good work/life balance, and knowledgeable management team. Recruiting was transparent and responsive during the hiring process.

    Cons

    In addition to hands-on training, the company needs to provide better training materials and classes.

  8. Helpful (1)

    "Excellent hiring experience for new employee"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Interactive Brokers full-time

    Pros

    Just starting but am extremely impressed with their hiring process and recruiting. Interviewed with their competitors and there is far less red tape. IBKR was much more responsive all the way around.

    Cons

    Just starting but as far as hiring process goes, I have no cons.

    Advice to Management

    Look forward to starting and I appreciate how flat you have managed to keep your organization


  9. Helpful (7)

    "Management asked us to write strictly positive reviews."

    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
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    The pay is great for developers. A recent college grad can easily make 120k+ as a developer.

    This place is horrible in every other regard. DO NOT DO IT.

    Cons

    You have to ask yourself what kind of place is this if they have to ask their employees to write positive reviews. I was specifically told to write a "positive" review and intentionally leave out certain topics I find displeasing.

    In my opinion all this will do is have people accept the job then quit a few months in. This place is a horrible place to work if you're not an extremely introverted individual.

    Advice to Management

    Don't pull slimy moves like this one. You should fix your issues so people have good things to write about not beg current employees to lie.


  10. Helpful (5)

    "Fair is definitely not a good word to describe IB"

    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
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Interactive Brokers full-time

    Pros

    Good comp .... that's about it

    They pay for $12.15 of your lunch too... Not a great pro though since you HAVE to go over at almost every restaurant to afford lunch, still a discounted lunch is better then one you fully have to pay for.

    Cons

    The vacation days are limited.

    401k is on a 6 year vesting scale (starting at year 2)

    Stock bonus are "awarded" in January. But because nothing is in writing until May. If you leave before the stock award certificate comes (last week of May) they completely take back that stock bonus. In the words of the all powerful CFO "they simply will not be in a position to 'earn' what is not vested"

    Raises between years are pretty insignificant. But they start you above average so you have a few years before you are really at your estimated value (by then the unvested stock is too large to want to leave though, that's the golden handcuffs)

    The projects vary based on teams but most people seem unhappy

    Their bereavement period is 3 days. So when mom or dad dies you have 3 days of grieving before you're expected back at work or taking your own personal days.

    Last snow storm a company wide email went out stating that if you did not come in you had to take a personal day. After which the roads were legally closed and if you were caught driving it was a ~$95 ticket. A second email with new rules, details, or corrections was not pushed out . Most people were still forced to take the personal day if they did not come in.

    Advice to Management

    Everyone is complaining that you should increase the seamless coverage for food. Maybe you should actually listen to the employees for once.

    Employees shouldnt have to choose between taking a vacation day and risking their lives driving in a snow strom. (that doesn't mean you should insist they take the day and stay home. It means they should be given a free day like most sane companies would do)

    Your employee should be treated like more then a rag doll that can be thrown around. Doing an event here and there or paying an above average comp does not excuse you from treating employees with some level of respect.


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