Penson Worldwide Reviews | Glassdoor

Penson Worldwide Reviews

16 reviews

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2.5
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Penson Worldwide Interim CEO Daniel P. Son
Daniel P. Son
6 Ratings

16 Employee Reviews

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  1. "Was a good company"

    Star Star Star Star Star
    • Career Opportunities
    Former Employee - Anonymous Employee in Dallas, TX
    Former Employee - Anonymous Employee in Dallas, TX
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Penson really cares about their people.

    Cons

    Not exempt from the challenges common to all.


  2. "Fun while it lasted"

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

    I worked at Penson Worldwide full-time (More than 5 years)

    Pros

    Company Culture, exposure, potential for growth

    Cons

    small company mentality....big company ambition


  3. "Great opportunity to learn a wide range of the clearing business."

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

    I worked at Penson Worldwide full-time (More than 3 years)

    Pros

    Collegial atmosphere and caring senior executives.

    Cons

    Some mid-level mangers were very political and would attack peers at every turn.


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  5. "Amazingly poor decisions made with good intentions"

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

    I worked at Penson Worldwide (More than a year)

    Pros

    Employee oriented
    Good pay
    Some talented people
    Interesting work
    High degree of autonomy

    Cons

    Poor business decision making
    They have no money
    Good old boy network
    Too many people who do nothing

    Advice to Management

    Think


  6. "New leadership is all about what is best for them personally; NOT about doing the right thing for the company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations Specialist in Dallas, TX
    Former Employee - Operations Specialist in Dallas, TX
    Doesn't Recommend
    Disapproves of CEO

    I worked at Penson Worldwide full-time (More than 3 years)

    Pros

    Company used to be one of the best places to work with leaders that truly cared about the employees and doing the right thing no matter what

    Cons

    New top leadership is only out for their personal success and doesn't own up to anything bad that they have caused. Shady, egomaniacs with no integrity that are screwing people over. You know who you are.

    Advice to Management

    The new President is the worst thing to ever happen to that company. Too big of an ego, not enough character. Get rid of him. Enough said.


  7. "Worst"

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

    I worked at Penson Worldwide full-time (More than 3 years)

    Pros

    No one knows what they are doing so you can get lost doing nothing.

    Cons

    So many people are bad at their jobs that it's almost silly.

    Advice to Management

    Please please hire better staff.


  8. "It's okay..."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - General IT in Dallas, TX
    Current Employee - General IT in Dallas, TX
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Penson has an interesting mix of people. There's never a dull moment because priorities constantly shift. For the most part, people work in teams and it's not cutthroat.

    Management is well-intentioned, and I think they do want what's best for employees.

    Cons

    Overall, working in IT can be frustrating because bureaucracy inhibits accomplishment.

    Upper management has made some tactical errors which have limited the companies profitability. Unfortunately, this has negatively impacted employees.


  9. "Penson is a great place to work when the economy is good and interest rates are high."

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

    Pros

    Penson has very kind people and the managers, vps, and senior managers foster a positive environment at the company.

    Cons

    The low interest rate environment has made Penson a very stressful place to work. In addition, the Ridge deal has consumed lots of resources in a time that is already very challenging for the industry.


  10. "There are better places to work."

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

    Pros

    If you are part of the buddy system, you are set and you can do no wrong. Heck, you could be made a Director if you screwed up something but played your cards right. I have seen it happen.
    If you are a contractor, this is a great place to work. You know why? They don't do things efficiently here. Because of that, you can make alot of money by working since things are done poorly here. However, if you are going to stay and you get paid salary, you are gonna get screwed.

    Cons

    They are not open to new ideas. Leadership there wants to do things the same way. I have been here for a very long time and I have seen new people come in with new ideas for Penson to try but management ignores them. Then the new people get frustrated and leave the company. If you are applying for work at this company and you are told they welcome new ideas BE WARNED. VERY WARNED! You will most likely end up like those people who are excited for the first few months and then after a year leave because they have been lied to.

    Advice to Management

    Do not call yourself leadership. Leaders are visionaries. There are no visionaries at Penson. Period. Also, you need to get someone who can strategize. Right now, leadership is bunch of sales guys that will never say No to a customer. The problem is the company you "built" can't support all the promises you guys make. Do you guys wonder why you have high turnover?


  11. "Great developers, Great company, software development setup sucks"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Dallas, TX
    Former Employee - Anonymous Employee in Dallas, TX
    Doesn't Recommend
    No opinion of CEO

    Pros

    Very friendly environment, in all departments but one (software dev) work is set up efficiently, people pulling together in the right direction

    Cons

    Software is mostly outsourced locally and abroad, developers are trying to glue various pieces together, unrealistic work plans, no clear reqs provided to the outsource team, developers work a lot of hours accomplishing very little due to overcomplicated and inefficient procedures

    Advice to Management

    Get a good Development VP, re-organize the whole department. "Work more hours" can't be a permanent answer to all issues.


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