Interactive Brokers Reviews | Glassdoor

Interactive Brokers Reviews

18 reviews

Filter

Filter


2.0
Star Star Star Star Star
Rating Trends Rating Trends
Recommend to a friend
Approve of CEO
Interactive Brokers Chairman, President, and CEO Thomas Peterffy
Thomas Peterffy
10 Ratings

18 Employee Reviews

Sort: Popular Rating Date

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)

  • little to no usage of third-party products (in 3 reviews)

More Pros and Cons

  1. Helpful (2)

    "Don't Do it"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Chicago, IL
    Current Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Free Lunch & decent bonus

    Cons

    No work life Balance, Consistently understaffed and overworked. Pay is not for performance.

    Advice to Management

    Work Life Balance ever heard of it?


  2. Helpful (1)

    "It's not at all a social place to work !"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Software Engineer in Greenwich, CT
    Current Employee - Software Engineer in Greenwich, CT
    Doesn't Recommend
    Approves of CEO

    Pros

    Great salary and benefits recession proof .

    Cons

    No social life and team culture.


  3. Helpful (8)

    "Show Me The Money"

    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
    Disapproves of CEO

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

    Pros

    The money is pretty good. They pay programmers very well and they pay managers very well, but everyone else is paid just okay, but you get annual bonuses and stock options. There is little or no bureaucracy, and very few meetings. This place is not bogged down in process. The non-management people who work here are very nice. The business can be interesting. If you're lucky, you get to work on interesting projects. Medical insurance premiums are paid for 100%.

    Cons

    You work here for the money. That's the bottom line. They pay for lunch, but not because they're nice, it's so you stay at your desk during lunch. They pay for medical benefits, which are ultimately insufficient if you have a major medical issue. You get 15 days off per year for personal, sick and vacation time, then an extra two days at five years. And you are discouraged from taking too much time off. It is for many employees, a sweat shop. The structure of the company is based on silos: each department is competing with other for the CEO's attention and favor; that is the sole motivator behind all day-to-day decisions. Only management is allowed to create projects and come up with creative solutions, in spite of their lack of real experience and training in many areas, such as software project design, marketing, user interface design, and so on. There is no career growth, no annual reviews, no promotions.

    If you want to come and make money and work a lot for a few years, this can be a decent place to be. But it will not be personally or professionally satisfying in any way, and you will get cynical and burn out fairly quickly.

    The CEO has surrounded himself with a bunch of long-time associates, most of whom are all from Eastern Europe like himself and have all become millionaires. If you're not in that club, you are simply a lowly employee treated disrespectfully.

    Advice to Management

    These guys are hopeless. It all flows from the CEO's benevolent dictator management style. Until and unless he changes his personality, it will continue on this path. They really need to bring in people from other companies and allow them to challenge the status quo. And give employees better work-life balance.


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (5)

    "Intense, originally challenging but later depressing and even debilitating"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Software Engineer
    Current Employee - Software Engineer
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    - A few of efficient business processes, most well-automated
    - A handful of worthy technologies to learn and think of.
    - Fair-n-square business practices as far as I can say (not to confuse with "nice to clients")
    - Acceptable pay; almost-guaranteed "raises" for raising cost of living
    - Keep to the letter to their side of your contract (which does not include much good; but still)
    - Free lunch that you usually eat at your desk (if you consider that a pro)

    Cons

    - Self-righteous and rigid high management; initiatives and comments are effectively discourages
    - Antiquated and ineffective-to-stupidity software governance (do not confuse with 'inefficient').
    - Non-existent work/life balance (total 16 days for vacation, personal and sick days; you are mostly treated and managed as a resource rather than human being)
    - Not only are free information and idea exchange not promoted but in many ways strongly discouraged. As an example, you won't even have an Internet access at your desk unless your function needs it. As one of the results, the company is stagnating technologically.
    - No training/learning programs I am aware of.
    - People are discouraged from talking

    Advice to Management

    Not that I think they would take any, but: consider formally training yourself in ethical people management (maybe try reading Stephen Covey's books?).

    On a side note: I had to rank CEO "disapprove" for his failure to keep the management effective and adequate to the company''s scale. This is not at all intended to deny his technical and financial genius and ethical business practices that made this company possible. I would have selected "both approve and disapprove" if the Web side provided this choice. (I did not want to select "No opinion" because I certainly had one)


  6. Helpful (12)

    "Hope You Like Working Under a Dictatorship"

    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
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Acceptable Pay, Good Benefits, Job Security

    Cons

    Minimal pay increase at the end of every year, 22 days MAXIMUM vacation and sick time combined even after several years of service, no job growth, no time to yourself during the work day or lunch break, you can never work enough hours to satisfy management requirements, your opinion will never be valued. If you are OK with being micromanaged, being told what to do, how to do it, and to do it immediately on a daily basis while realizing you will never get anywhere in the company then this is the place for you.

    Advice to Management

    Welcome to Interactive Brokers where if you aren't on top, you mean nothing to no one. Senior management is severely out of touch with today's technological advancements and what customers are looking for from a brokerage company. This company seems to be frozen in the early 90s with little to no improvement in the trading platform, its design, or ease of use. Progressive movement to create original ideas to keep the company in business are consistently shot down. Customer service is also lacking to say the least. Management does not promote from within and hires individuals from outside sources who are not qualified for doing the jobs that are asked of them. Basically, if you know nothing of the position you are applying for, then you are perfect for the job! Culture is cut throat with senior management constantly fighting with each other over who gets to play in the sandbox with the president, with their behavior childish at best. Constant insults and name calling are common place at this establishment at all levels; where sophisticated dialogue utilizing every swear word in the English language are terms used on a daily basis to define a coworker or their performance. President of company also likes to force his political views on his employees to further his own agenda for the Republican party. Most senior management are from foreign countries and do not speak English very well, this makes it very difficult to understand phone calls and emails from them.


  7. Helpful (7)

    "Not a very creative place to work"

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

    I worked at Interactive Brokers full-time (More than 3 years)

    Pros

    Free lunch. Lack of office politics. Programming tasks are clearly defined. There are virtually no meetings or unnecessary talk. You are expected to come in and perform the tasks assigned to you and leave. Anything more or less is frowned upon.

    Cons

    Can't realistically work from home. This is a big quality of life issue. Supervisors and Managers tend to micromanage and not allow new ideas. The Java stack is 7-10 years old, so you will learn very little. You are expected to work very hard and are intensely monitored. HR is terrible. There is absolutely NO upwards mobility. I am told that the same group of managers/supervisors has been there since the early 2000's.

    Advice to Management

    Update the infrastructure to accommodate modern Vpn. You are competing with firms that provide comparable or better salaries and much better work-life balance. Hire more HR people, they are overworked. Give non-management programmers more autonomy. Provide new hires with a more structured orientation. The orientation is completely upto the supervisor and most do not do a good job.

    If you are going to stock the fridge, atleast to it in reasonable quantity. The food runs out thirty minutes after arrival in the morning. Currently it looks more like a token effort for recruitment boasts. Increase the lunch allowance by 20%, most people end up going over and paying for the overage out of pocket.


  8. Helpful (16)

    "Dysfunctional"

    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

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

    Pros

    - Good salary. The pay for programmers is excellent, with year-end compensation reflecting your project output.

    - Rarely asked to work weekends/holidays. This does seem to vary from group to group, but my experience here is that the eight hour work day is respected and weekend/holiday work is unheard of.

    - Job security

    - Free lunch. Eating similar meals from the same group of restaurants every day does start to feel a bit dismal, but not having to pay for it is a great perk.

    - Flat org structure. Not being drastically separated from upper management allows for visibility opportunities to make your achievements known to those above you.

    - Very little red tape. As a developer, red tape is almost non-existent at this company. This is useful when emergency code changes are needed. This can, and does, backfire at times, but when responsible people are at the helm it is an effective luxury.

    Cons

    If you are looking to advance professionally and gain real experience, this is not the place for you. If you are looking to stay comfortably in the same role for an extended period of time, this place is perfect.

    Despite respecting weekends/holidays, this company does not respect natural disasters. Whether there's a hurricane, a blizzard, or a legal ban on driving in your state as a safety precaution, the office is open and you're expected to show up if you don't want to lose a vacation day. This can be easily corrected if the company was more accepting of VPN access/working remotely, but they are inexplicably stringent on letting people work from home.

    The management structure at this company has serious problems. Management most visibly fails at:

    1) Project planning.

    There are no "true" project managers who are solely responsible for the success or failure of a project. The primary results of this are: you don't know who is responsible for a project, and you aren't given an adequate functional specification. Any specs that you do receive are usually written by someone with limited technical knowledge. Instead of requirements gathering being a cooperative process between people with business knowledge and people with technical knowledge, it is often a one man process written in a silo and then dumped to the programmers. The result is that most projects are implemented incorrectly, incompletely, or abandoned.

    The concept of planning out projects at the start of the year and assigning timelines months in advance is foreign to this company. It is commonplace for projects to be created out of thin air, making it difficult to gauge your day-to-day work. Additionally, projects are rarely given enough time for testing, and never have a test plan created with the specification.

    2) Measuring success.

    This company truly believes that the amount of time you spend at your desk is directly proportional to how much work you are getting done. The idea that someone could get as much done in 6 hours as someone else does in 10 is met with incredulity. The idea that someone's productivity might taper off after doing the same task for hours is met with similar disbelief.

    This translates directly to your annual review, where you are usually told "you did good" or "you did bad." You aren't given real feedback to help you grow and mature professionally.

    This weakness is also apparent when launching a new product or idea. There is a rush to finish the project, but management rarely collects statistics to see if their ideas worked. They celebrate the completion of the project, without measuring whether anything was actually achieved.

    3) Learning from mistakes.

    After you spend enough time working here, you begin to notice cyclical behavior from upper management. The executives do not believe that their ideas may not work, and as a result, even if their ideas have failed in the past (which they won't know due to issue #2), they will continue to come up with ideas that do not work.

    4) Delegation.

    Despite groups having teams dedicated to a specific task or responsibility, management insists on injecting their own ideas or thoughts into things that really should not concern them. Teams that specialize in a particular discipline are commonly overridden by superiors with no experience in that discipline. This ties into issues #2 and #3, with the result being a cycle of teams producing a decent product, and then having that product be brought to a mediocre level by an executive playing the rank card and feeling the need to impose themselves. This results in a reduction of ambition and motivation, since ideas do not hold weight based on their merit, but instead based on who is suggesting (demanding) it.

    5) Communication & training.

    New hires are given very few, if any, resources to learn about the company, their role within it, or job expectations. New hires are literally left at their desk and told to figure it out. The result of this is inconsistent and unpredictable performance between people that share identical titles, and inconsistencies between peers in the same group. The wheel is commonly reinvented.

    Communication is discouraged and looked at as a time-wasting activity. This further compounds the difficulty of acclimating for new hires, and issue #1. Unsurprisingly, this also results in massive communication gaps between teams that need to coordinate closely, to the point of being laughable.

    Advice to Management

    Buy a copy of "The Mythical Man-Month." It explains lessons in software project management learned 40 years ago that are still absent from your company.

    Let your employees do the job you hired them to do. Your input is not needed in low-level decisions.

    Be more accepting of VPN/remote access. Your employees will not have to sacrifice sick days or risk driving in dangerous conditions if they could work from home when appropriate.

    Invest time training new hires so that they can learn to do their job as effectively as possible, as quickly as possible. People are not robots.


  9. Helpful (3)

    "awful work culture"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - New Account Specialist in Chicago, IL
    Former Employee - New Account Specialist in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    salary is decent for work performed
    not very stressful
    upward mobility

    Cons

    if office environment was improved this place would be loads better

    Advice to Management

    modernize


  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 (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.


Showing 18 of 103 reviews
Reset Filters