Penson GHCO Reviews | Glassdoor

Penson GHCO Reviews

5 reviews

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  1. "Prop Trader"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Proprietary Trader in Chicago, IL
    Former Employee - Proprietary Trader in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Penson GHCO full-time (Less than a year)

    Pros

    High level of autonomy, intelligent co-workers.

    Cons

    No real sense of company culture. Non-communicative management. High-pressure environment.


  2. "Tough place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Risk in Chicago, IL
    Current Employee - Risk in Chicago, IL
    Doesn't Recommend
    Neutral Outlook

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

    Pros

    Okay compensation. Other traders and employees are tight-knit. I was involved in the day-to-day trading section of the firm.

    Cons

    Too many meeting that didn't accomplish anything. Management will drop you in a heartbeat if they don't like you, no matter your work ethic, performance, or industry expertise. The separate divisions within the company work together as well as government agencies. Management seems to like uncooperative departments. Strange but true. They believe its a competitive advantage. It's the opposite. This created backstabbing, resentment, and made the firm look bad when customers had to work across departments.

    Thier Legal division is horrendous and the most uncooperative department in the firm. This is dangerous for many reasons. The lack of support from legal was a large detriment to the traders, and risk managers.

    Advice to Management

    Don't tell people you're all about family when you treat workers the opposite. TALK to employees when there's change in the air. You want smart employees, don't treat them like idiots.

  3. "Nice place to work - If not for Sr. Mngt"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL

    Pros

    Friendly staff, great Cafe! open atmosphere.

    Cons

    Sr. Managment does not communicate at all. No promotion possible ever. Rare raise and if so, very small.

    Advice to Management

    Please encourage more communication, staff are people too. We support our familes from working and are nervous and uptight when we can tell things are going on that we do not hear about.


  4. "PGHCO, great place to start but not stay."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - IT Support Specialist in Chicago, IL
    Former Employee - IT Support Specialist in Chicago, IL

    Pros

    Great place to learn the trading industry and ability to focus on what you want to learn.

    Cons

    There is a high rate of turnover in the IT department, for support personal they rarely stay more than 2 years before moving on to a higher paying job within or outside of the trading industry.

    Advice to Management

    Value the support employees more and you will not have to constantly be hiring and training high school and college graduates. It doesnt take much to keep an employee around for more than 2 years, just a semi-competative salary compared to the rest of the marketplace.


  5. "Trade Support and Execution"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Trad Support
    Former Employee - Trad Support

    Pros

    Great place to learn A LOT about the Futures industry. FCM for all major exchanges. Thousands of customers from different places (locals, retail customers, some CTAs).

    A pro and a con... doing trade support (customer service) AND execution at the same desk. Can get VERY busy at times when exchanges have issues or front ends have connectivity problems.

    Cons

    Feast or famine. Desk can be slow or very fast. If something goes down, you have to get it back up.. and place orders for the customers that are dealing with the problem you are working on. A very "trial by fire" situation that rarely leads to a thank you from management. With the overnight lending rate at near zero, brokerages are not making the money they are used to making. This lends itself to a very lean staffing situation.