MarketAxess Reviews | Glassdoor

MarketAxess Reviews

Updated January 18, 2017
8 reviews

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1.0
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MarketAxess Chairman and CEO Rick McVey
Rick McVey
7 Ratings

8 Employee Reviews

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  1. Helpful (3)

    "They can't keep anyone lately"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Staff in New York, NY
    Current Employee - Staff in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Pros
    - Nice office location
    - Free tea and coffee
    - Generally friendly employees (non-managers)

    Cons

    NY office morale is very low due to unqualified managers. They trust no-one. Managers expect you to quickly jump to demands and then belittle you in front of staff. High turnover at the company as employees leave and contractors leave. They try to hire people. They extend offers to people who then turn them down. Staff is over worked and not recognized for taking on the additional workload.

    Advice to Management

    technology group is a mess and needs to be cleaned up in order to have this company function in a profitable way.


  2. Helpful (7)

    "Don't Bother - you'll be gone in 5 months"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    it's in New York City and close to many subways and eating establishments. There are lot's of tourist attractions nearby and it's next to the Waldorf.

    Cons

    They have about 4 to 5 development cycles a year. A development cycles is basically this: their big clients demand changes and enhancements to the trading system, everyone scrambles to document and code the enhancements, they test the enhancements and then roll out the enhancements to their clients. That's it. That's all they do.
    Then if there is something wrong, that's when the finger pointing starts. If you are the newest person there then you will be the scapegoat.
    There is no direction in the company. This place was created by JP Morgan back in 2001 and then spun off. The people who run it did not create the company, they just have buds in the right places at JPM. The reason why the stock goes up is because they are in a hot sector - electronic trading. Since the banks are not allowed to hold inventory and have cut back trading, these little electronic trading companies pop-up up to fill that need. Bloomberg dominates this market. MA is just reaping the benefits of being in the right place.
    Management doesn't care what happens to the company, they are just trying to get the stock to increase as much as possible and then bail. (kinda like Enron).
    WARNING: a lot of the positive reviews for MA are posted by HR in order to protect the reputation of the company. Notice that those reviews are vague and overly enthusiastic. Don’t be fooled. There is an enormous amount of turnover – close to 75%. Managers hire people just to be scapegoats. If anything goes wrong, “it’s because the new guy didn’t know what he was doing” and “we’ll let him go and get someone better.” So that’s the game they are playing.

    Advice to Management

    Keep doing what you're doing, it seems to be working for you. Employees are just so much chaff, keep on churning.


  3. Helpful (4)

    "Not worth your time- There are better places to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations in New York, NY
    Former Employee - Operations in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Pro : not working here or with people who are set in the past and are unable to look to the future. My best day was my last.

    Cons

    Cons : upper management does not have any forward thinking. they like things the way they are. They do not appreciate good talent and are unable to bring in the right people to run the business

    Advice to Management

    look to the future. take a chance. hire good people with the right skill set


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  5. Helpful (5)

    "best day is your last day"

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

    Pros

    Cool place if you don't mind managers who give no direction or who will throw you under the bus.

    Cons

    Management wants an innovative, smart, high end team but puts superficial effort towards retaining high quality employees. In fact, the smart employees are the ones who decide to leave. Mediocrity thrives at Marketaxess. There is an enormous amount of turnover especially in IT (developers, business analysts). Beware about joining this place. They hate new people. There is a strata of employees who've been there for over 10 years and another one of people who've been there less than a year. The more senior people are so afraid of losing their jobs that they will make any newcomer's life miserable.
    The saddest part about Marketaxess is the general disrespect they have for former employees. You usually hear managers commenting about how former employees didn't know what they were doing (even interns).

    Advice to Management

    Get rid of people who've been there for over 10 years. They will bring the company down.


  6. Helpful (6)

    "Bad management in the London office"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Developer in London, England (UK)
    Current Employee - Senior Developer in London, England (UK)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at MarketAxess full-time (More than 8 years)

    Pros

    Free milk and coffee
    work/life balance is quite good

    Cons

    - clients left MAEurope due to the poor services. i.e. platform crashes quite often
    - liquidity providers use Bloomberg or Tradeweb because they are cheaper.
    - Project Manager in London has tied hands. Technology is managed by MA-US
    - They continuously hire no qualified people. (no knowledge of Credit Markets, CDS, SEF, MTS)
    - Head of MAEurope changes once every two years.
    - Lots of gossiping and bad environment i.e. very frustrated employees, no team work, etc.
    - According to clients, platform will disappear in the long run because the new platforms in the market use new technology and are cheaper.
    - Don't expect good bonuses in London, on the contrary.
    - Poor career progression.


  7. Helpful (3)

    "poor career progression"

    Star Star Star Star Star
    • Culture & Values
    • Career Opportunities
    • Senior Management
    Former Employee - Senior Developer
    Former Employee - Senior Developer
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at MarketAxess full-time (More than 8 years)

    Pros

    - Met good colleagues to work with
    - easy hours

    Cons

    - Current climate does not help: clients do not use the system, instead they use the phone/Bloomberg chat to get best price.
    - poor liquidity offered
    - limited product offered
    - Competitors are ahead MarketAxess (i.e. Bloomberg)
    - Technology/system needs to be improved/updated to market standards.

    Advice to Management

    -Senior Management should listen more to clients and product managers.


  8. Helpful (2)

    "High Staff Turnover in London office shows discontent of employees and low company's productivity"

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

    I have been working at MarketAxess full-time (More than 8 years)

    Pros

    - not long hours: 8-17hs.
    - long lunch breaks: it could last for 2 hours.
    - gym's break can last for +2hours too!
    - easy job

    Cons

    -Historically the London office had had a high staff turnover for their size. There are 20-25 people aprox in the London Office. i.e. +4 Heads of Europe in the last 5 years, 3 Heads of Sales in the last 5 years, +6 IT people in the last 5 years (STP integration managers, production support, etc), +10 Salespeoples and Customer Services Specialists in the last 5 years. There must be something wrong if stuff keep leaving!
    - Market do not see the London office as a serious place to do business with due to many factors. i.e. - Due to the high staff turnover, it is difficult to keep track of all the jobs that a client might require, fee changes, not up-to-date technology, personnel, US office's lack of interest re: UK colleagues, etc.
    -no way ahead to the market: competitors always 2 or 3 steps ahead

    Advice to Management

    - send some serious personnel from NYC to the London office before it is to late! Market makers are tired of all the excuses from Prod Mgr and relationship managers/salespeople in the London office.


  9. Helpful (3)

    "Worst place to learn and grow - very political place -"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in London, England (UK)
    Current Employee - Anonymous Employee in London, England (UK)
    Doesn't Recommend
    No opinion of CEO

    Pros

    lots of free time
    balance between work and life
    you can do whatever you want
    no control from managers

    Cons

    There is no leadership at all from Senior Managers and they do not know the financial market.
    The product crashes when IT launches a new version. This is never fixed immediately.
    Very political place to work
    No career progression at all
    MarketAxess loses market share in Europe per minute
    Old mentality, in order for clients to use the product, they buy clients with expensive dinners and events, instead of improve the product.

    Advice to Management

    Close the London office. Manage EU clients from NY. It will save time and money or hire senior managers who actually know the product/are willing to work.


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