There are newer employer reviews for Chicago Board Options Exchange

2 people found this helpful  

Great place to work for pay and financial possibilities. Lacks in system stability and employer-employee line-of-sight.

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

I have been working at Chicago Board Options Exchange

Pros

Great pay. Fairly low stress. Slow learning curve. Low expectations. Firm is (currently) privately held. Downtown Chicago. Nice employee referral program. Great resume stuffer.

It's a great "in" if you are in the Financial field or have an interest in Options and/or Stock. Lots of knowledgable people who have been around since the early days of CBOE.

Cons

Poor working relationships. Poor direct management supervision. Poor performance planning and management. Poor project management. Poor project execution. Low quality technological system.

There seem to be serious disconnects between the average employee and the overall direction of the company. Projects are often discombobulated, hard to implement, hard to follow, hard to clean up. With multiple projects being implemented, one on top of the other, the quality of the system would seem to be compromised. The employees that have been here for a while often come across as arrogant and can be difficult to work with, requiring other employees to pry information out of them.

Advice to ManagementAdvice

Remember to keep the vision and goals of the organization strong and obvious to all levels of employees at the firm and create employee engagement as well as strong career paths.

Approves of CEO

35 Other Employee Reviews for Chicago Board Options Exchange (View Most Recent)

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  1. 1 person found this helpful  

    Excellent company to work for.

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

    I have been working at Chicago Board Options Exchange

    Pros

    Very relaxed work atmosphere, good salary & very good benefits.

    Cons

    Not much career advancement opportunities.

    Advice to ManagementAdvice

    Create some middle level positions.

    Recommends
    No opinion of CEO
  2. 4 people found this helpful  

    the best company for baby boomers One Among the Worst Companies to work around in Chicago Area

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

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

    Pros

    None about the Company
    1. Downtown Chicago
    2. Lot of Places to eat
    3. After work entertainment

    Cons

    news Facts: 1. The U.S. Securities and Exchange Commission levied its first-ever fine against a stock exchange for oversight issues, docking the Chicago Board Options Exchange $6 million for allegedly failing to enforce or even understand rules designed to prevent illegal short-selling.

    2. CBOE fix for bug that halted trading

    Google above and you will see why its not worth working here.

    1. There is no work culture here to describe. Its like wild west regarding various departments from communication to responsibilities. The older managers are judgmental based on appearance, income , place of living etc. If you have seen movies office space and wolf on wall street this company will resemble a mix of both the movies.
    2. Most Managers and Directors are Yes Men to C level executives to keep their jobs because they can't find anywhere else and will blame it on subordinates and team members. Some managers don't have proper 20th and 21st century social skills and are not fit for hiring at other places.
    3. The average age of employees here is more than 50 years. Mostly Wild west and redneck old boys network. Couple of Managers I heard suffer from psychological disorders, hypertension and will get angry or moody for no reason and will swear a lot. The longer you stay here one get more institutionalized.
    4. People work in Silos here and there are no learning opportunities since most of the technologies haven't changed from late 80's and early 90's. Its harder for current employees to find job outside of their company due to limited exposure.
    5. Only a few managers are educated beyond high school and few directors and executives beyond undergraduate degrees. Few of the Managers , directors and executives have community college degrees. Education is not a requirement but swearing is a must.
    6. There are no software development standards system wide and have been following what was done in early 80's and 90's in mainframe technology. They are more about sticking to the unrealistic timeline for production with no time for testing the products which caused issues like the market halt in 2013
    7. Pay is less than the industry standard in Chicago and there are are no growth opportunities. There are software Engineers with 20+ years here with no changes to title and pay.
    8. Nowadays there is no innovation here and its mostly about keeping the system alive without failures and patch work for keeping it running.
    9. Public has realized about CBOE Shenanigans based on news in Particular and recent recession and trading volume has reduced in their exchanges.
    10. Lot of Ratings Agencies have changed CBOE to sell after their quarterly report

    Runaway from this Hell

    Advice to ManagementAdvice

    Nothing because you cannot teach Old Dog's new Tricks . Time to close CBOE

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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