Mastercard Reviews | Glassdoor

Mastercard Reviews

Updated April 24, 2017
199 reviews

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2.9
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Mastercard President and CEO Ajay Banga
Ajay Banga
113 Ratings

199 Employee Reviews

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Pros
  • Great work life balance and office location; company truly cares about employee career development (in 145 reviews)

  • Good labs and healthy work environment (in 44 reviews)

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

  • Any negative feedback for senior management considered as immaturity of individual instead of positively receiving feedback for improvisation (in 29 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. Helpful (1)

    "Was OK. Company shredding their talent...IPO killed culture"

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

    Pros

    Benefits excellent. Lots of interesting things going on at company. Global nature lets you meet really cool people. Great travel policy (was I believe). Highly profitable.

    Cons

    Territorial for stupid not valid Company slashing staff without weeding out imcompetence. Pure 9-5 culture for most;...some work all the time. Very political. Used to be a great place to work. Really has also screwed up business by putting incompetents in charge. Still stuck in consumer credit when that is a dormant business. Culture scared of Visa, again.

    Advice to Management

    I would suggest that they find a way to treat employees who perform like assets. Stop all the entertainment expense. Build great products not just great ads.


  3. "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.


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  5. "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.


  6. "MasterCard is a tough place to work and get ahead!"

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

    Pros

    MasterCard offers a good place to balance work and home life. If you like to work 9-5 with very little stress, this the company to work for.

    Cons

    MasterCard likes to clean house every quarter and never announces it in the media. They do not like to re-hire former employees. Access to major highways is a bonus.

    Advice to Management

    Senior Management shoud spend more time intercating with employees. Bring in new managers that have not worked in the old "payments assocation" business model.


  7. Helpful (1)

    "Good benefits, but weak HR"

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

    Pros

    There are good benefits provided by the company, There is a strong global network and some insightful research. Plenty of opportunities to work across multiple business units.

    Cons

    Poor communication from HR. Beware of the meeting culture. People host meetings when they could just communicate needs through email or over the phone.

    Advice to Management

    Offer more open communication and reduce redundancy.


  8. "A Changing Company, with Great Prospects"

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

    Pros

    -Dynamic new CEO with very good ideas and style
    -Strong balance sheet and core products
    -Strong brand
    -Changing payments landscape is making work much more interesting and challenging
    -Potential to be a really great place to work

    Cons

    -There is a very strong existing culture that limits internal communication, questions, and risk taking
    -New CEO is trying to change culture. This leads to 1) uncertainty in may parts of the organization and 2) Challenging internal politics
    -Risk that new CEO may not be successful

    Advice to Management

    Set up means to hear what all levels of the company are thinking and convince employees they are not risking career success by speaking out.


  9. "Good Company in Confused State"

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

    Pros

    Very well positioned company to take advantage of existing as well as future trends in payment industry. Multiple connections and alliances among banks, processors and corporate partners enable MasterCard to be viewed as an attractive partner for electronic commerce and payments. Potential is high, execution is a challenge.

    Cons

    Very slow to enable advancements to take advantage of market conditions in a timely manner. Many self-driven innovations fall short of market needs. Current management changes and personnel displacements have created large gaps in expertise and "brain drain" syndrome. They appear destined to repeat past failures due to lack of experience among market-facing staff. Potential is offset by inability to execute.

    Advice to Management

    Create innovative products that can actually be used and earn profits. Do better market research. Mobile MoneySend, PayPass, InControl and others "sound good" but are not serving the needs of those who would use and pay for them as services.


  10. "MasterCard needs to grow up"

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

    Pros

    Campus type atmosphere, successful business model, strong employee base

    Cons

    Little opportunity for advancement, promotion within your role is impossible

    Advice to Management

    Stock for all employees who rate highly at year end


  11. 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.


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