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Simplex Reviews

Updated Dec 14, 2020

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Found 35 of over 37 reviews

3.4
60%
Recommend to a Friend
93%
Approve of CEO
Simplex CEO Erik Swanson (no image)
Erik Swanson
13 Ratings

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  1. 5.0
    Current Employee, more than 3 years

    Good for Developers

    Dec 14, 2020 - Software Developer in Chicago, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    good work-life balance, good pay, interesting projects

    Cons

    messy codebase, some unpleasant traders

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  2. 5.0
    Current Employee, less than 1 year

    Excellent company for software developers

    Mar 23, 2020 - Software Engineer in Chicago, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Lots of opportunities to work on what you want Everyone is extremely helpful and willing to answer your questions Your concerns are always addressed if you are willing to speak out Very little to no meetings at all. Perfect for developers who don't want to deal with bureaucracy and just work on their projects Many company sponsored events throughout the year Never have to take your work home as long as you do your work while you're at work

    Cons

    You're always allowed to take a break but it's difficult to do so when everyone around you is working so hard.

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  3. 5.0
    Current Employee, more than 1 year

    Trading at Simplex

    Mar 5, 2015 - Trader in Chicago, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    As a trader, the best part of life at Simplex is designing and maintaining trading strategies and software -- challenging problems requiring creative solutions with the support to execute good ideas quickly and correctly. Employees are intelligent and accessible, making it a good place for a motivated individual to learn about trading. Frequent team discussions and problem solving sessions encourage contribution from all employees. Development team is extremely talented and the firm's technological support is top notch. Internal software is user-friendly and highly customizable. New software and bug fixes are released multiple times per day, which allows for great flexibility. Compensation structure provides excellent support for employees who contribute to the firm's success, which results in a motivated and focused work environment. Benefits, amenities, and work-life balance are all superb.

    Cons

    Work can be demanding and stressful; expectations from management are extremely high. No one is going to hold your hand or find problems for you to solve -- if you're not independent, self-motivated, and capable of defending your ideas and thought processes, you're not going to succeed here. Organization structure is flat and there's not much room for promotion. Continued recent contribution is valued over seniority; not a place to look for your new middle management title.

    2 people found this review helpful
  4. 1.0
    Former Employee, more than 1 year

    Just Plain Awful

    May 15, 2013 - Trader in Chicago, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    The management is cool and the developers are extremely talented and friendly. The prop software they have developed is nothing but the best. ONLY go here if you back your own account.

    Cons

    Sadly, that's where the pros stop. I spent some time here a while back and the traders who work here are a despicable bunch. I couldn't believe the amount of trash talk and obvious backstabbing that was actually allowed. They want trading ideas, but when you provide them, someone else takes your idea and claims it as their own, and gives you no credit whatsoever. They also love to leave their email chat up just so you can see them talk about you behind their back. A fine way to develop trust between coworkers. There's NO upward mobility and the turnover rate is astounding. Look at prior reviews. Every graduating class they bring in new traders just to let them go (conveniently right before bonus time) as the next wave of college grads come in. You think that many reviews could be wrong? They aren't. The pay is also insulting; you could easily find another trading firm that will ON AVERAGE pay you double. Be wise and look elsewhere. Oh, and forget about their business outlook. Once they can't get any more speed, this place is toast. No matter how pretty you wrap your lump of coal under your Xmas tree, it's still a lump of coal.

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    14 people found this review helpful
  5. 5.0
    Current Employee

    Great Environment for the Entrepreneurial Mind

    May 26, 2015 - Illinois in Chicago, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    The best thing about working at Simplex is you have the freedom to explore any opportunity that interests you. I can come in with an idea for a new strategy that I want to explore. I have all the data, resources, and personnel at my fingertips to help me research this new idea to see if it is viable. If it is, I can present the idea to the group to get some constructive feedback, and pass the final spec on to the development team. Within a few days, I can have a fully functional program contributing to the firm. If you are creative, innovative, and self-motivated, you will both enjoy working here and be compensated well. I have worked at Simplex for almost 8 years now, and this is by far the smartest and most talented team of developers and traders we have ever had. The work environment is casual and comfortable, but still promotes productivity. The work/life balance is also great.

    Cons

    Can be overwhelming at times. There are a lot of moving pieces here that you need to keep track of in order to successfully create new software, as well as improve old software.

    1 person found this review helpful
  6. 5.0
    Current Employee, more than 3 years

    Trading at Simplex: A company with a full IT staff, help desk, top notch equipment and cutting edge technology.

    Mar 5, 2015 - Senior Trader in Chicago, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Cutting edge technology, good hours, paid lunches, helpful dedicated employee base, low employee turnover, competitive pay, talented developers, good benefits and a commitment to excellence. It's a place where you can learn and grow at a fast pace; the faster you start contributing, the more you get out of the job ultimately. Employees share in firm success at every level. Offers a great balance between self directed work (and individual completion) with group collaboration (both trader and developer).

    Cons

    It is a trading job. All jobs (trading) come with the necessity of an employee maintaining their own work life balance. The job will be stressful at times, but once the work is put in will be rewarding. A smaller company that as it grows will deal with traditional company growing pains (human capital constraints).

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    3 people found this review helpful
  7. 5.0
    Current Employee, more than 5 years

    A great place to work

    Mar 18, 2015 - Anonymous Employee in Chicago, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Simplex has a comfortable environment. It's friendly, it's warm, and it's filled with very knowledgeable people. There's plenty of opportunity to excel at what you do, and a lot of people to help you do it. The people that work at Simplex have generally been here a long time. There's no doubt that only the best are kept around, and that is reflected in the quality of work, and the quality of coworker.

    Cons

    There can be some stressful days when things aren't going as planned. I don't think there's really a way around that in this industry. However, the stress is an anomaly, not the norm. In addition, the lunch (that the company pays for) is not very good.

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    4 people found this review helpful
  8. 5.0
    Current Employee, more than 5 years

    Smart, hard working, and collegial team. 7 years and counting.

    Mar 30, 2015 - Anonymous Employee in Chicago, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Simplex is a great place to work. This team is incredibly talented. The software platform uses the latest technologies, and there is a real focus on continuously improving all aspects of the system. At some firms, you wait all year to do one rollout of software; we rollout software as soon as it is ready. You can really make an impact on the business and have a real voice in the development process.

    Cons

    It is very difficult to remain on top in the trading industry. It requires a lot of hard work and focus. Some people are not cut out to deal with the demands of this job, but those that are really enjoy the constant challenge. This is a job that never has a clear end to the project.

    7 people found this review helpful
  9. 1.0
    Former Employee, more than 1 year

    Pathetic, Fake Reviews Below.

    May 15, 2015 - Trader in Chicago, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Learning the basics of HFT, options.

    Cons

    Last time Simplex Investments used a marketing company to advertise via YouTube, a brand new website, and FAKE reviews such as the ones below (5 five star reviews all in March, haha), they attracted 20 or so young professionals who all were fired within 2-6 weeks of working there. It took me 3 months of rehab to restore my health after Simplex. I still have nightmares about this place. Their jerk owner (Matt) has the "what have you done for me lately?" attitude and will scream at you for no reason. Sexual harassment, unprofessional behavior, violent outbreaks are the norm. Your hair shedding all over the keyboard as you do your best to appease these monsters is expected. The whole company is based around extracting maximum value out of an employee in the shortest time possible - then instantly firing you. Senior traders who still work at Simplex are out there to feed off your youth, take all of your ideas, and give you no credit whatsoever. STAY AWAY. Only an unethical company would post fake five star reviews to continue leeching off young talent.

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    36 people found this review helpful
  10. 5.0
    Current Employee, more than 5 years

    a good place for talented hackers

    Mar 18, 2015 - Software Developer in Chicago, IL
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Developers get to take ownership of their projects and can get recognized for their contributions. The company has a very flat hierarchy and offers a lot of opportunities for developers to work on interesting projects where code latency really matters. Most of the developers at the company are genuine hackers and are passionate about their work. Also the benefits and compensation are great.

    Cons

    Like most jobs in this industry, it can be stressful at times but that keeps things interesting. Being a smaller company, there is limited formal training for new hires, but you learn by performing smaller development tasks and working your way up. There are no separate QA or operations teams. As a result the developers are responsible for those duties as well.

    5 people found this review helpful
Viewing 1 - 10 of 35 Reviews

Simplex Reviews FAQs

60% of Simplex employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated Simplex 3.5 out of 5 for work life balance, 3.2 for culture and values and 2.9 for career opportunities.

According to reviews on Glassdoor, employees commonly mention the pros of working at Simplex to be culture, coworkers, benefits and the cons to be management, career development, compensation.

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