Interactive Brokers Software Developer Reviews | Glassdoor

Find jobs for Software Developer

Interactive Brokers Software Developer Reviews

Updated Apr 28, 2018

To filter reviews, or .

Found 14 reviews

3.8
StarStarStarStarStar
Rating TrendsRating Trends
53%
Recommend to a Friend
44%
Approve of CEO
Interactive Brokers CEO Thomas Peterffy
Thomas Peterffy
3 Ratings
  1. Helpful (4)

    "Work hard and get real responsibility"

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

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

    Interactive Brokers2017-09-07
  2. Helpful (13)

    "Low Quality"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Software Developer in Greenwich, CT
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Interactive Brokers full-time for more than 5 years

    Pros

    - Free lunch. Although there is no "lunch hour" and you usually end up shoveling your lunch in as fast as you can, it's still nice not paying for it. - Flat org structure. Very easy to make yourself and your achievements known to senior staff. - Great compensation for programmers. - Opportunity to take on responsibility quickly. Despite the cons listed below, this is probably the only reason my rating is a... 3. IB does not have a normal career advancement system in terms of titles (your 'role' will probably remain the same throughout your employment here). But it does afford an opportunity to take on responsibilities and large scale projects which would probably take a lot longer to work your way up to at other companies.

    Show More

    Cons

    Everything about this company is driven by senior management's unrealistic expectations of how fast products can be delivered. There is no business sense whatsoever about the mindset of the company's employees. Day-to-day goals usually revolve around trying to complete as many tasks as possible, as fast as possible, with an insouciant mindset as to what the effects of these tasks actually are. If one group is... perceived as "too slow" then mercenaries from other groups will be thrown into projects they know nothing about in order to "speed things up." The project workflow at this company generally works like this: 1) Group 1 operates in complete isolation to work up a specification for something they want from another group. 2) Once Group 1 finishes their spec, they surprise Group 2 with it. 3) Group 2 is immediately demanded to provide an ETA, and is given very little (or none) opportunity to review, reject, or push back on the spec, despite Group 1 probably having no knowledge of how Group 2's systems work. As far as Group 1 is concerned, their "task" is done and now Group 2 is being an annoying bottleneck. Obviously, many large projects end up being fraught with confusion, last-second decisions and broken results.

    Show More

    Advice to Management

    Slow down. The attitude of "everyone can do everything" where there are no team boundaries or rules of ownership is not efficient or productive. It ends up producing a low quality product where every 10% of the code was written differently and nothing functions together cleanly. Just because one team writes a specification for something they want, it does not mean the specification phase is done. All stakeholders... should be involved in specs, not just the group that wants something. Pushing out something fast is not an accomplishment if it's broken.

    Show More
    Interactive Brokers2018-04-28
  3. Helpful (9)

    "Decent place to work"

    StarStarStarStarStar
    Current Employee - Senior Software Developer in Greenwich, CT

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

    Show More

    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.

    Show More
    Interactive Brokers2017-08-26
  4. Helpful (2)

    "software developer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Software Developer in Greenwich, CT
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Interactive Brokers2017-08-16
  5. Helpful (5)

    "Stable company, good pay, meritocracy"

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

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

    Show More

    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.

    Interactive Brokers2017-07-11
  6. "Great company"

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

    I have been working at Interactive Brokers full-time for 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!

    Interactive Brokers2017-06-28
  7. Helpful (9)

    "Immature"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    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 for 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.

    Show More

    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."

    Show More

    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.

    Interactive Brokers2017-03-11
  8. Helpful (5)

    "ok place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Software Developer in Greenwich, CT

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

    Interactive Brokers2016-03-21
  9. Helpful (15)

    "Get your work done, get paid, go home."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Software Developer in Greenwich, CT
    Recommends
    Neutral Outlook

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

    Pros

    Pros: * There is always work. * There are always opportunities to learn something new. * Management appears to be intelligent in their field as most of them used to do the dirty work before they got promoted. * Management seems to be approachable and open to input. * Medical (fully covered) * Decent bonuses * Simple management structure * No *forced* upward mobility * Lateral (exponential) growth... opportunities If you're looking for a corporate environment where you'll spend time interacting and socialising, go to training, meetings, spend weekend at developmental camps holding hands singing kumbaya, this place is not for you. If you have a set of skills to that you are proud of and can work hard and dedicated to deliver, your work will be recognized. P.S. To people complaining about free lunch, you can always bring your own and take your restaurant lunch home, give it to your neighbour, or hungry guy around the corner.

    Show More

    Cons

    * Lack of sick days - people show up to work sick * Work from home option almost non-existent (this has to do mostly with security concerns and the nature of business).

    Advice to Management

    * Allow work from home, at least 1-2 days a month * Encourage / reward innovation

    Interactive Brokers2016-02-03
  10. Helpful (21)

    "Dysfunctional"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Software Developer in Greenwich, CT
    Doesn't Recommend
    Neutral Outlook

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

    Show More

    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.

    Show More

    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.

    Show More
    Interactive Brokers2015-07-11
Found 14 reviews