Mastercard Reviews | Glassdoor

Mastercard Reviews

Updated January 29, 2017
19 reviews

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Mastercard President and CEO Ajay Banga
Ajay Banga
13 Ratings

19 Employee Reviews

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Pros
Cons
  • Work life balance need to improve (in 33 reviews)

  • Most departments work in silos and senior management does not respond very positively to requests/ suggestions (in 28 reviews)

More Pros and Cons

  1. Helpful (5)

    "Stay Away"

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

    Pros

    Fair salary
    Well known company and brand
    Profitable company, but at a cost

    Cons

    Heavy outsourcing
    Prefer mediocrity at cheaper cost
    Decline in benefits since going public on the stock market
    Very conservative with innovation
    For a small company, the bureaucracy of a very large company

    Advice to Management

    Lose the over-accounting that prevents innovation due to unrealistic goals that force tracking to estimates instead of tracking to realistic numbers.

    Still very much a buddy system in management, tough job market plus fewer opportunities in the St. Louis, MO market tend to breed favoritism


  2. Helpful (2)

    "Stagnant"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Analyst in O'Fallon, MO
    Current Employee - Business Analyst in O'Fallon, MO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Company is well positioned to succeed in the future. Good branding and well known.

    Cons

    Compensation is below other firms in the financial services field. Not a lot of opportunity to move up or get promoted. Most of middle management are fairly old and unambitious who are content doing the minimum amount of work required to keep their 9-5 job. Management's attempt to make the workplace more "fun" and lively" is adding a pool table that almost no one uses. Many of the younger and more creative employees seem to be snatched up by competitors such as Visa.


  3. Helpful (11)

    "There is no company that treats its employees worse"

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

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

    Pros

    Great brand, good to have on your resume

    Cons

    I have been with this company for years. This company changed from the best place to work at to the worse place within last 10 years, especially withing last 3 years.

    Facts about working environment:
    1. "Clear desk policy" You supposed to lock all of your papers in drawers before you leave. If you leave something on the table that you get warning, after 3 warnings your are fired
    2. Health insurance is very expensive with very low coverage and huge deductible that you need to pay before anything will be covered. Company covers only 50% of price vs 70-80% as other companies do.
    3. There is no free coffee/tea stations in main building. If you need a drink you had to buy from the stations that sell drinks.
    4. Cafeteria is very expensive and you can only use MasterCard to purchase anything, no cash or other cards accepted. Guests or interviewed people who come for the entire day often are unable to eat.
    5. Business attire policy. If you want to wear jeans on Fridays, than you have to pay $40 for a month ( 4 -5 Fridays).
    6. Company no more has any holiday’s parties, including Christmas because it is expensive.
    7. All printers said on double side printing in b/w. Its very annoying to change setting each time toy need to have one side printing.
    8. Everybody needs to work in the office regardless of weather conditions. HR send out a letter saying that if you want to stay at work while bad snowfall that you have to take a day off.
    9. You cannot buy any expansive office supplies or working tools because everything should be cheap. If you really need something, you should buy it yourself.
    10. There is a company gym facilities, you have to pay $25 a month.
    11. Lost badge- $25
    11. Everybody works on old heavy Dell computers.
    12. There are very strict subordination policies in terms of what you can do and cannot depending on your level

    Recently MC moved all US employees in a different building across the street.
    Half of the floor is now occupied while another half is under heavy construction. People who sit next to construction should every day smell dust, chemicals and work while hearing drilling, sawing and screwing. People complained about working conditions, health issuers and destructive noise.
    No HR or higher management tried to resolve the issue. None of the top managers sit next to construction at this moment.

    Advice to Management

    Ask MC President Ajay Banga to sit next to construction area.


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  5. Helpful (19)

    "Golden Handcuffs.... Not a Real Technology Company"

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

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

    Pros

    Pay is great and the company is located in Westchester which is a great commute for those within 15-20 minutes of the location. Lot of great people that work at MC.

    Cons

    Leadership is based on ensuring you sit well with the CEO.. if not... you're out. Lots of miserable people. No opportunity for growth especially for minorities... horrible bosses which is encouraged by CEO... Company has invested funds into getting rid of positions or people that don't meet the current "culture". Employees are encouraged to hire talent that are under 30 to drive culture change driven by the CEO. However the catch is that the new talent get frustrated as there is no room to grow. If they feel you get frustrated (young or seasoned talent), they will eliminate your role. Not very innovative and trying hard to hire talent to make them innovative and eliminate those that have been there for a while.


  6. Helpful (10)

    "Smoke and Mirrors !"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Managing Consultant in Saint Louis, MO
    Current Employee - Managing Consultant in Saint Louis, MO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Great for graduate or intern to have on resume. Great Brand name and recognition. Good salaries, working environment, and colleagues.

    Cons

    The company is trying to make itself into a technology company but this is ridiculous.
    The top brass run around spinning their story. The top executives are 'real innovators', mainly lawyers, accountants or ex Citibank cronies.....there's a success. That tells you enough!

    They have fired or laid off so many experienced quality professionals in the US and abroad with the goal of replacing these people with younger cheaper staff. It is very short sited.
    It is hard to believe they have not been charged with discriminatory practices in the people they fire, mainly female employees and also people 40 and over or close to pension. That's US labor laws!
    They post many non-existing jobs. I heard from European colleagues that the jobs do not exist and are never filled. The HQ in Belgium is being moved to London and regions but no one will admit this. I heard the plan is 5-10 years. They make jokes that the President, Javier Perez, must be a ghost because no one ever sees him!

    The company does not embrace anyone who does not tow the line and managers at senior level have complete autonomy to get rid of anyone they do not like for any reason. They are fully protected by the HR police or should we rename them the 'firing squad'.

    Since the new CEO and his EGO moved in several years ago, all the nice amenities of the company slowly disappeared.

    Advice to Management

    Is there enough room in the building for Mr Banga and his Ego!


  7. Helpful (28)

    "It doesn't matter how noble or talented you are, if you want to succeed, manage up"

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

    Pros

    Flexible work environment. Outside US, generous superannuation plan.

    Cons

    Almost all MasterCard managers are solely interested in managing their internal image and reputation. They do this to the detriment of their reportees’ wellbeing and progress. I have seen this constantly demonstrated in Europe, Asia Pacific, Middle East, and North America. No matter what your real value or contribution, if it is not a benefit to your manager or if you do not have a white knight to sponsor you, you will never progress.
    CEO Ajay Banga proclaims “take thoughtful risks”, however, I warn you, you will do so at your own peril. What he really means is, “make decisions only if your manager signs off on it”.
    While Ajay may publicly want an environment in which thoughtful risk-taking and decision-making is encouraged, his managers do the opposite. MasterCard is a den of fear and retaliation and only a place for people who put up and shut up for the sake of job security. Despite its CEO’s public and internal propaganda, MasterCard is backward and cultish and will never excel unless it removes its managerial overlords and employs managers who care about other employees and the company.

    Advice to Management

    Ajay, get rid of your sycophantic, nepotistic, upward-ogling managers and replace them with people who care about their reportees’ and the company’s interest.


  8. Helpful (11)

    "Heavy Politics, Nepotism, Bait and Switch Hiring Practices"

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

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

    Pros

    Well known global Fortune 500 brand.

    Cons

    It's common knowledge within MasterCard to hire new people for a particular job and typically within their first six months, reassign them to a different job or give them job of two people. Be prepared to work the job of two people. MasterCard calls this "punching above your weight" but it’s really a bait and switch hiring practice.

    Career advancement is extremely limited and based on managing up, nepotism and being a yes person at all costs. This makes the politics heavy and people are constantly back stabbing each other. The VP title is equal to a manager at most large companies and holds no weight within the MasterCard. It's very hard if not impossible to advance beyond the VP position and many of them have been in the same position for 5 years or more.

    MasterCard doesn’t do 360 performance reviews or assign you with real business goals, so there isn’t any accountability. This has made it very easy for managers to coast for years. Most the middle management I worked with had outdated leadership skills and very limited technology experience.

    MasterCard is not a technology company. My Millennial peers in the tech community working at Google and Apple laugh at the notion that MasterCard is a tech company and would never consider working there. That's why you won't meet any Silicon Valley alums at MasterCard. This year MasterCard allowed employees to wear jeans every day and the Baby Boomer leaders acted like it was privilege.

    MasterCard loves to reorg every year and outsource and insource American jobs. The CEO and many of the executives are Indian nationals. They have no problem sending American jobs to India and bringing in lower paid H-1B Visa workers in from India to replace American workers.

    Advice to Management

    The board should end the "Indian" management experience and replace the CEO with a proven technology CEO.


  9. Helpful (5)

    "Business Leader - Poor work/life balance if you are good"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Leader in Saint Louis, MO
    Current Employee - Business Leader in Saint Louis, MO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    Good bonus
    Flexible environment
    Average Pay
    Pay is increased when industry increases pay overall
    Great savings plan

    Cons

    Medical expenses are pushed back to employee
    Poor to no cost of living raises year over year
    If you are any good, you literally can expect 60-90 hours a week. Yes I said 90 hours a week for projects for long durations. MasterCard is well known in the industry for working folks to death, breaking up families, etc.. The reason you see some folks saying balance is good while others refer to it as a sweat shop is that if you are good you get worked to death, if you are not you get buried in some mundane task until you leave. The people that last at MasterCard are the ones that stay under the radar.
    Reactive culture vs. proactive. Fire fighting is the norm vs. high quality processes and work.
    They don't use innovative technology in St. Louis
    Getting promoted is based entirely on popularity than work or successes
    I've managed for a while and I've never interviewed an American or anyone local to the St. Louis area. All resources I get are Indian or Chinese and are generally imported from other countries to work here as low cost labor under sweat shop conditions.
    Management is constantly posting positive things about work/life balance on Glassdoor to bring in new talent and have a whole campaign around MasterCard trying to convince employees it is a great place to work.

    Advice to Management

    Take a look at turnover and ask how this is affecting the quality of products, the brands reputation and the bottom line. It's impossible to bring talent into MasterCard that is any good because of our industry reputation. Talented people stay away and we get the leftovers.


  10. Helpful (2)

    "Management direction over the last year is drastically declining the morale and fairness of work given by employees"

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

    Pros

    Benefits, location, friendly co-workers and occasional ability to work from home

    Cons

    Senior and Business Leader Management - worse seen
    Disrespectful to employees
    Not enough recognition when giving 150% instead blame employees for things even when not in the employees control and continue to expect even more from them
    No matter how hard you work, not rewarded for it
    Management does not take ownership of company problems but rather pushes off on to the employees
    Management treats people like dictatorship with no partnership
    Once in, give up any further financial growth - raises are next to 0 compared to what the companies earnings.

    Advice to Management

    Need to start taking in to consideration your employees and their value to getting the company their earnings instead of pushing the problems on to them, not rewarding them and not respecting them. After all they are what got the company the earnings to begin with and the employees are following the direction of the management team.


  11. Helpful (6)

    "“Golden Handcuffs.... Not a Real Technology Company ” It doesn't matter how noble or talented you are.."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Leader in Pune (India)
    Current Employee - Leader in Pune (India)
    Doesn't Recommend
    Negative Outlook

    I have been working at Mastercard full-time (Less than a year)

    Pros

    Flexible work environments, Brand name, else I do not see any Pros in here.

    Cons

    As mentioned few other people on Glassdoor, the company is not interested in to their employees, Ajay says if you love to interact with people from different diversity MasterCard is the best place, but I would like to say its opposite. If you a boot polisher and do so for your manager you will be safe else your manager will throw you out of the window.
    US people see India center as a laborers and expect Indians to work 24 hours. I have not see a single day where you have not worked for more than 13-14 hours. Its a trap.
    BL's & SBL's enjoy they come late to office and leave early in a span of 4 - 5 hours in office only. But if you will do so you will be scrtunized.
    MasterCard is a den of fear and retaliation and only a place for people who put up and shut up for the sake of job security.
    MasterCard in India is backward and cultish and will never excel unless it removes such BL's & SBL's from the organization else MasterCard is gonna spoil its name heavy in nearby future.
    We have always heard no company is bad or good, its their managers who make it good or bad, and this is what happening in Pune. If you raise your voice you have to face retaliations which MasterCard says retaliations would not be done...
    MasterCard says internal movement is allowed with in MasterCard but only if you are a boot polisher.

    Advice to Management

    Remove such BL's & SBL's who are spoiling the image and retaliating to employee who raise their voice.



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