Interactive Brokers Reviews | Glassdoor

Interactive Brokers Reviews

Updated May 8, 2017
27 reviews

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3.0
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Interactive Brokers Chairman, President, and CEO Thomas Peterffy
Thomas Peterffy
10 Ratings

27 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. 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!


  2. 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.

  3. Helpful (2)

    "Next to no career advancement opportunity."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Junior Compliance Analyst in Chicago, IL
    Former Employee - Junior Compliance Analyst in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Interactive Brokers full-time (More than a year)

    Pros

    Healthcare is probably the best thing. There's really not much stress and most managers just want you to basically show up for your shift.

    Cons

    The employees are mostly trapped with little to no chance for growth or advancement. Managers are simply given the title. They have not been trained to manage. Managers have no ability to fire underperforming people. In general managers are afraid to rock the boat in order to make the company better or modify existing policies of procedures.

    Advice to Management

    There are a lot of very good customer service employees in all departments like compliance and funds and banking and retail who feel like management has no idea how hard they work at their jobs. There are also a number of employees who really don't care anymore and should probably be replaced. But nothing ever changes.


  4. 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.


  5. "Good starting point"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Accounting Analyst in Greenwich, CT
    Former Employee - Accounting Analyst in Greenwich, CT
    Recommends

    I worked at Interactive Brokers full-time (More than a year)

    Pros

    Improvements to tasks are encouraged, good compensation and benefits.

    Cons

    Culture is not for everyone. Must be a self starter as new hire training process is weak. Poor work/life balance.

    Advice to Management

    Improve work/life balance.


  6. Helpful (6)

    "customer service representative"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Service Representative in Chicago, IL
    Current Employee - Customer Service Representative in Chicago, IL
    Doesn't Recommend

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

    Pros

    Good food, people here are very nice. very stable job, endless work.
    A lot of work is a good thing, then, you won't get fired.

    Cons

    So tired. Talking with customers all the time is very exhausting.

    Advice to Management

    it is better to give employees some time to communicate. Working is just too busy all the time. No time to talk with coworkers. Should have some happy hours time.


  7. "great experiences with IB"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Programmer in Stamford, CT
    Former Employee - Programmer in Stamford, CT
    Approves of CEO

    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.

    Advice to Management

    hire people with better education background; make sure the interview process is more structured. otherwise, like the interview style and the general manner.

  8. Helpful (2)

    "Non Political but not much room for growth"

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

    Pros

    Almost zero politics
    Job Stability
    Senior Management is Ethical
    A very competent CEO
    The timings are generally ok
    Decent year end bonuses

    Cons

    If you're committed to a stable job with very little growth prospects but decent pay and bonus, then this is the right place for you. For the more ambitious types and non-Eastern Europeans, look elsewhere.

    Advice to Management

    The Company is a one man show. If the expectation is global growth and expansion then opportunities need to be extended to non E European employees as well.


  9. "If you want to maintain the status quo and not be able to challenge anything, this is the place to be."

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

    Pros

    Decent benefits except vacation days.
    You don't have to worry about politics.
    Senior management is very competent.
    The Company is very efficiently managed and is almost a guaranteed net income generator. Therefore, the stability factor is a big plus plus.

    Cons

    Vacation days.
    Little to no flexibility allowed.
    Little to no growth potential for non-programming staff.
    Very little (if any) cross communication.

    Advice to Management

    I don't think the management needs any advice as far as the bottom line is concerned. The Company consistently generates good revenue and has a great handle on managing the major costs. As far as employee morale is concerned, not sure if this is considered important at all - so why bother advising?


  10. "New Accounts"

    Star Star Star Star Star
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Interactive Brokers full-time

    Pros

    Great benefits and Free lunches

    Cons

    Under appreciated by upper management


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