Mastercard Reviews | Glassdoor

Mastercard Reviews

Updated May 26, 2017
114 reviews

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2.9
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Mastercard President and CEO Ajay Banga
Ajay Banga
71 Ratings

114 Employee Reviews

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Pros
Cons
  • Work life balance need to improve (in 34 reviews)

  • Most departments work in silos and senior management does not respond very positively to requests/ suggestions (in 27 reviews)

More Pros and Cons

  1. Helpful (4)

    "Much Promise Much Work to Do"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Business Leader in Purchase, NY
    Current Employee - Senior Business Leader in Purchase, NY
    Approves of CEO

    Pros

    Market position and industry outlook is great. Overall compensation package is designed to encourage long-term commitment. Brand is phenomenal around the globe. Upside market opportunity in the payments space is enviable. Company's financial strength and scalability is admirable.

    Cons

    MasterCard hires for job experience in industry, specifically banking. So you have alot of people who come to the table with fairly large egos and limited creativity. Large level of political drama to deal with. The company moves very slow - not responsive to clients, missed deadlines are common practice, 9:30 to 5:00 sharp are standard hours so if you're an eager eddie you'll be disappointed. Basic management discipline is missing. You will also be frustrated by the highest level of bureaucracy covering the company's use of data and information. It is an obsession that prevents us from getting things done and having an impact with clients.

    Advice to Management

    Drive out costs now when we can do it with deliberate focus; if we wait it will only be painful later.

    Hire for intelligence, integrity and motivation, we have enough people who worked in industry for 10 years, we need some more young people with a sharp mind and fire in their belly.

    Formalize the career development model, encourage telecommuting and clarify roles and responsibilities.

    Finally, whoever is designing and implementing the leadership development program is failing and it is such an important factor. You need to mobilize the entire top 4 layers to learn and apply strong leadership skills.

    And you also need to stop hiring jerks - hire emotionally aware, competent and intelligent people to start displacing the lousy people managers you have at the mid to upper levels.


  2. "Out with the old"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Business Leader in Purchase, NY
    Current Employee - Senior Business Leader in Purchase, NY
    Disapproves of CEO

    Pros

    Truly global company with many opportunities to work with and in other countries. Good pay for the job.

    Cons

    Executive Management are essentially people who grew up in the old association and therefore have no idea how to be leaders in a "real" company. And no context to know what they don't know

    Advice to Management

    The unbelievable luck we've had to be in an industry growing 20% for years is just that...luck. Now that this growth is slowing, we need bold change to continue to grow. Be bold in picking new businesses to enter, and getting rid of senior management who can't see this.


  3. "Historically has paid well with profit sharing. Can be a frustrating place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Leader in Purchase, NY
    Current Employee - Business Leader in Purchase, NY

    Pros

    MasterCard does pay well in comparison to other companies and there are a great number of bright people.

    Cons

    MasterCard has become way too risk averse. they won't fire people who should be let go, they take forever to make a decision and move forward with initiatives and there are too many cross functional work streams that aren't truly empowered to get anything done.

    Advice to Management

    Upper management should do a better job of knowing who's who within the company. who is well respected, who is a "go to" on each team etc. Too many people are concerned with managing up only.


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  5. Helpful (8)

    "Snatching Defeat From The Jaws of Victory..."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Leader in Purchase, NY
    Current Employee - Business Leader in Purchase, NY
    Disapproves of CEO

    Pros

    Golden Handcuffs - e.g., Thou shall be paid more, receive the sorts of bonuses and profit shares that are lied about elsewhere during interviews
    Many job roles offer diverse approaches and methodologies, or interesting work
    The company has a printing press in the basement with the now-organic global adoption of plastic and electronic payments in lieu of cash
    Good reputation and cachet for a resume
    Generally "nice" people
    An opportunity for true greatness if the trajectory of the company can be altered to better fit the dynamicism of the future - This place CAN win, but isn't
    Good Work-Life balance for most roles, especially for the competent
    Recent words and inklings from senior folks offer glimmers of hope for long-term view beyond the current model

    Cons

    Golden Handcuffs - e.g., Thou shall find it difficult to duplicate your pay elsewhere even when taking a "Step up"
    Addiction to core business model (the printing press, see Pros), while serious longer-term threats of disintermediation and displacement exist
    Senior Management is woefully overrated, and are largely are a collection of Association-era dinosaurs and sclerotic banking vets. MasterCard is still a pasture for the empty suits.
    Serious lack of effective innovation, and ridiculously poor integration of acquisitions - again, indicative of inability to operate outside of core franchise and processing competencies
    Legal and overprotective turf warriors prevent any innovation, as does the lack of connection to end-consumers.
    All of the traditional FI's and payments ecosystem players are losing out to agile and emerging channel players, and MasterCard is behind among that pack t that as a whole are behind.
    Lacking junior resources; with a top-heavy "upside down pyramid" structure with decade-experienced professionals mired in cubicle city while window offices are occupied by folks with occassional good soundbytes at meetings but little else
    Fear of Visa. The constant feeling of being Second or Third. An on the balance fear-based culture, with top-down dictums without coherent strategy, and reprisals for contrarianism
    Over saturation of client-facing roles.
    Recent actions don't match words of the "Powers That Be"

    Advice to Management

    Two ways to approach this:

    1) Remake the culture entirely into one of innovation with an "attack" mentality, rather than one focused upon reputational protectionism to a fault and "the old way" of doing things. Key to this, would be to build scale and network externality by offering some items free at high quality at the cost of medium term profits. But, value would be created by new offerings that . STOP LOOKING AT THE SHARE OF A TRANSACTION for everything. With scale, value is created, even from that which is "free" - See the biggest .com and mobile successes

    2) Alternatively strip it down. Let's be fair: half the employees in Purchase aren't even needed to support the core business model, so devote oneself to it, maximize margins, and then work to partner / acquire / merge with a "new" player in emerging payments who do all the innovation better than we. This longer-term allows us to "go for the kill",. and has greater chance of success than option 1 of trying to win the way we have always crippled by terrible innovation culture and dubious effectiveness of most senior managements and entire functional areas.


  6. Helpful (1)

    "Good quality of life, but poor career progression"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Leader in Purchase, NY
    Current Employee - Business Leader in Purchase, NY
    Approves of CEO

    Pros

    Work life balance, manageable job responsibilities

    Cons

    Limited career progression, very little feedback about how to improve performance

    Advice to Management

    Create performance based promotion opportunities


  7. Helpful (2)

    "Leadership is hard to find"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Leader in Purchase, NY
    Current Employee - Business Leader in Purchase, NY
    No opinion of CEO

    Pros

    Compensation and flexibility is good

    Cons

    No Leadership, senior executive vision

    Advice to Management

    Engage more with employees


  8. Helpful (2)

    "politics galore!"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Purchase, NY
    Current Employee - Anonymous Employee in Purchase, NY
    Approves of CEO

    Pros

    professional environment
    nice, polite culture
    good pay

    Cons

    many layers, hard to get ahead, no clear career path, very very political, passive aggressive culture, ineffective HR department. horrible managers are tolerated for too long, should be quicker to fire people that do not perform or have numerous complaints filed agains them.

    Advice to Management

    make the organization flatter so people feel empowered to make decisions! and get rid of ineffective managers.


  9. Helpful (6)

    "Good place to work till you find the next best job for you"

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

    Pros

    1. If you are a hard worker, no need to worry about loosing your job ( It will never run out of business in the foreseeable future)
    2. Lots of benefits for fulltimers

    Cons

    1.Monotonous work
    2.Lots of politics
    3.Bureaucracy
    4.Useless Management
    5.Bunch of people to steel the credit for the work you did.

    Advice to Management

    1. Actively involve in the projects and know who is dong what.
    2. Adapt good Software Development processes.
    3. Dont just look for the outcome, look for how the team delivered that outcome.


  10. Helpful (2)

    "Senior Consultant"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Consultant in Purchase, NY
    Current Employee - Senior Consultant in Purchase, NY
    Recommends
    Positive Outlook
    Disapproves of CEO

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

    Pros

    Good life balance
    telleworking
    bonuses
    Solid company.
    If you are not very good and your job odds are you can keep it and stay for 20 years.

    Cons

    Office politics
    no career path.
    awful middle and upper management
    People that are hired in simple because they know someone who works there and gets them in.

    Advice to Management

    Wake up and get ride of the awful "tenured" managers who provide no value.


  11. Helpful (1)

    "You will learn a lot, work hard be well paid but have one hell of a time climbing the ladder."

    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
    Neutral Outlook
    Approves of CEO

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

    Pros

    Pay, bonus, exposure to banking and retail sectors, broad experience that should open doors for you elsewhere

    Cons

    Company hires outside more than in and promotions are rare. Doing a great job and being recognized for it does not equate to upward mobility.

    Advice to Management

    De-matrix and stir the pot up top.


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