Chicago Board Options Exchange

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Chicago Board Options Exchange Reviews

Updated 5 August 2014
Updated 5 August 2014
35 Reviews

2.9
35 Reviews
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Chicago Board Options Exchange Chairman and CEO Bill Brodsky
Bill Brodsky
14 Ratings

Employee Reviews

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  1.  

    good for experienced workers

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Chicago, IL (US)
    Former Employee - Anonymous Employee in Chicago, IL (US)

    I worked at Chicago Board Options Exchange full-time for more than a year

    Pros

    most people stay at this organization a really long time, good benefits and connections can be made, good location in the city

    Cons

    not a young company, pretty traditional as with a lot of finance organization and resistant to change, not the best place to get your start

    Recommends
    Positive Outlook
    No opinion of CEO
  2.  

    Great opportunities and learning experience.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Chicago Board Options Exchange full-time for more than 5 years

    Pros

    Great team work within the department.

    Cons

    Different departments did not work well with other departments. Opportunities for advancement and training should be based on merit.

    Advice to ManagementAdvice

    Fix the issue first, bring parties together for an after action report and stop the blame game.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3.  

    Phone Screen interview

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Chicago Board Options Exchange

    Pros

    Company with a good reputation, all seem warm and nice.

    Cons

    Like most interviewer, leveling people on there knowledge detail of a language, or a small thing, ignore the ability of more important thing, like the ability to write complicate programs.

    Advice to ManagementAdvice

    Next time interview people, prepare some problem to check prospector's IQ, not memory.

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  5. 2 people found this helpful  

    Not A Place For Lifetime Career

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investigator  in  Chicago, IL (US)
    Former Employee - Investigator in Chicago, IL (US)

    I worked at Chicago Board Options Exchange full-time

    Pros

    * Decent work-life balance. Never had to put in overtime (which full time exempt employees wouldn't get paid for anyway) to get additional work done.
    * Fair entry job to get started in the securities regulation industry. But not the type of place where a lifetime career should be considered.

    Cons

    * Inefficiency in department operation in terms of how work products are analyzed, processed, etc.
    * Poor overall compensation (base pay, bonus, other incentives, etc.) that is quite below the market value for the similar type of position in the industry. This seems to be due to the fact that CBOE went down the path of quantity over quality when they decided to expand its department (general consensus amongst employees (current and former) at CBOE). Also, because of this method of personnel management, employees do not feel valued whatsoever; many feel that they are treated as disposable individuals rather than invaluable assets that can make a difference at work.
    * Department seems to lack accountability. Most of the times, people do not seem to have the desire to take responsibility for their actions.
    * Severe lack of clarity in the criteria for merit, promotion, etc.
    * Absurd level of "training" that hasn't seemed to provide much benefit to the employees' day-to-day activities at work (general consensus amongst employees (current and former) at CBOE). It feels like these trainings are held simply to fill in the number of required hours. Training should strictly be about things that are pertinent to what their teams respectively do.

    Advice to ManagementAdvice

    Just by looking at the Cons, it should be evident enough on what Management should consider. A lot of the Cons noted are the voices of the majority at CBOE. But the problem is nobody wants to even bother listening. A company that seriously cannot listen to the concerns of its employees do not have a bright long-term future; this applies to any type of company.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    Old company with management that is still stuck in the paper and pen technology era.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Chicago, IL (US)
    Former Employee - Anonymous Employee in Chicago, IL (US)

    I worked at Chicago Board Options Exchange full-time for more than a year

    Pros

    Co-workers were good people, Liked chicago. Good food in the surrounding area. Prestigious until you pull back the curtain. Decent benefits but not the best.

    Cons

    Conservative Technologically, for a company that is 99% web based now. (very little in person trading going on) Spaghetti for code because they use too many contractors and nobody knows an upper level view of how the trading platform interacts. They actually were unable to remove features from the code because nobody was able to make heads or tails of where to even start removing the code. One big mess, not using any logical structure to the platform. Tech directors hired from old boy network, with no experience in IT. Paper pushers have less operational knowledge of platform than subordinates. Very little opportunity for advancement or autonomy.

    Advice to ManagementAdvice

    Try hiring tech directors with IT experience.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7. 1 person found this helpful  

    My experience is that this is a place where people stay for a long time. They come in, do their jobs and leave.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Chicago, IL (US)
    Current Employee - Anonymous Employee in Chicago, IL (US)

    I have been working at Chicago Board Options Exchange full-time for more than a year

    Pros

    It is very laid back and not stressful at all. The hours and work/life balance are excellent and most departments are pretty flexible.

    Cons

    Pay is low compared to the industry. There is no internal methods for motivation. You must be self motivated. I have found a lot of things that are wrong or don't get done becasue there is very little communication. Promotions seem to be based on time not performance.

    Recommends
    Neutral Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    Engineer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Engineer  in  Chicago, IL (US)
    Current Employee - Engineer in Chicago, IL (US)

    I have been working at Chicago Board Options Exchange full-time for more than 10 years

    Pros

    Pay is good. Location is good.

    Cons

    Some management levels do not have a proper training to understand how to be a good manager.

    Advice to ManagementAdvice

    Go to a class to learn how to be a good manager.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  9. 1 person found this helpful  

    It was interesting and not too much pressure.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investigator  in  Chicago, IL (US)
    Former Employee - Investigator in Chicago, IL (US)

    I worked at Chicago Board Options Exchange full-time for more than 3 years

    Pros

    good work life balance and benefits

    Cons

    too much politics and difficult to move up

    Advice to ManagementAdvice

    none

    Recommends
    Neutral Outlook
    No opinion of CEO
  10.  

    Solid company.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Chicago Board Options Exchange for more than 10 years

    Pros

    Good benefits & compensation, favorable hours.

    Cons

    Some weak middle management. and decision making.

    Advice to ManagementAdvice

    Listen more to employee concerns.

    Recommends
    Neutral Outlook
    Approves of CEO
  11.  

    Engineer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Engineer  in  Chicago, IL (US)
    Current Employee - Engineer in Chicago, IL (US)

    I have been working at Chicago Board Options Exchange full-time for more than 10 years

    Pros

    Laid back environment, learn at your own pace. Lots of things to learn if you want to. Some nice and helpful people.

    Cons

    Rigid structure, no outside trading, old technology. Opportunity to grow and get promoted few.
    Lot of emplasis on production support. Too much complex system.

    Advice to ManagementAdvice

    Technology is your brain and heart and future , treat them with respect.

    Recommends
    Neutral Outlook
    Approves of CEO

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