Interactive Brokers "work life balance" Reviews | Glassdoor

Interactive Brokers Employee Reviews about "work life balance"

Updated Oct 2, 2019

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Found 171 reviews

3.3
StarStarStarStarStar
Rating TrendsRating Trends
57%
Recommend to a Friend
70%
Approve of CEO
Interactive Brokers CEO Thomas Peterffy
Thomas Peterffy
101 Ratings
Pros
  • "free lunch is provided by the firm(in 50 reviews)

  • "Working with the latest software technologies, free lunch, great benefits, flexible hours, nice working environment(in 10 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)

  • "low-paid, no career development perspective(in 5 reviews)

More Pros and Cons

Reviews about "work life balance"

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  1. Helpful (1)

    "Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Interactive Brokers full-time

    Pros

    Great salary and benefits and work/life balance

    Cons

    None that I am aware of

    Interactive Brokers2018-04-09
  2. Helpful (1)

    "Good Companu"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Customer Service Representative in Chicago, IL
    Recommends
    Positive Outlook
    Disapproves of CEO

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

    Pros

    Good pay, benefits, work life balance

    Cons

    Poor organization, Lack of coordination, Saltiness

    Interactive Brokers2018-01-14
  3. Helpful (17)

    "Used to be a Good Place to Work"

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

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

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    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.

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    Interactive Brokers2017-08-21
  4. 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.

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    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
  5. Helpful (6)

    "Hate it here on most days"

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

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

    Interactive Brokers2017-07-29
  6. Helpful (2)

    "Going great, so far"

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

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

    Interactive Brokers2017-07-10
  7. "Great experience so far"

    StarStarStarStarStar
    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.

    Interactive Brokers2017-06-24
  8. Helpful (5)

    "Tremendous Opportunity"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Interactive Brokers

    Pros

    Great Work/Life Balance Strong Communication within Working Departments Good Work Environment Generous Managers & Colleagues Tremendous Teamwork

    Cons

    Nothing much to note as a Con at Interactive Brokers. They encourage growth and advancement. It is a refreshing break from the normal.

    Advice to Management

    Further, there is nothing I'd recommend except for continuing to inhibit the same values & continuing to work towards improving the already strong work environment.

    Interactive Brokers2016-08-04
  9. Helpful (1)

    "Good starting point"

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

    I worked at Interactive Brokers full-time for 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.

    Interactive Brokers2015-05-29
  10. Helpful (7)

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

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

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

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    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

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    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)

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    Interactive Brokers2013-09-22
Found 171 reviews