Interactive Brokers
2.2 of 5 38 reviews
www.interactivebrokers.com Greenwich, CT 500 to 999 Employees

Interactive Brokers Reviews

Updated Apr 08, 2014

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2.2 38 reviews

                             

44% Approve of the CEO

Interactive Brokers Chairman, President, and CEO Thomas Peterffy

Thomas Peterffy

(27 ratings)

26% of employees recommend this company to a friend
38 Employee Reviews
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Demanding but rewarding

Anonymous Employee (Current Employee)
Greenwich, CT (US)

I have been working at Interactive Brokers

ProsVery little red tape
Lean department means lots of interesting work
Chance to bring many projects to completion

ConsToo little time off
Unbalanced salaries

Yes, I would recommend this company to a friend

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Its a miracle there hasnt been an office shooting there yet

Anonymous Employee (Former Employee)

I worked at Interactive Brokers

ProsThey pay for your lunch
Fully stocked pantry
I heard they finally upgraded the accounting systems.
The "party favors" at the annual meting/holiday party
The Chicago people seemed nice
The money flowed like water (at least it did in 1999-2000)

ConsNo life work balance
Asinine procedures
TP has to have his hands in every aspect of the business but cannot be bothered if you need his signature or approval for anything
Office bullying is rampant at all levels

Advice to Senior ManagementThere are more activist investors out there that know what kind of outfit you run and avoid IB like the plague beacuse of it.
Actually, keep doing what youre doing. Ive made a s---load shorting IB since you went publc.

No, I would not recommend this company to a friend

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This company should qualify as #1 worst place to work for

Treasury Analyst (Former Employee)

I worked at Interactive Brokers

ProsThe only one that I can account of is the free lunch you are entitled to. But guess what, you are supposed to eat it at your desk ( which is the whole point of it being free) and if you dare to leave you will be attacked by disapproval looks

Cons-disrespectful management - you will get yelled at for things such as the way you arrange your own desk, the shrift you use etc. You will be constantly treated as being incompetent and worthless.

-on your own - This dept is a bunch of people that happen to work together ( very far from team). You are not supposed to ask questions. if you dont get something it's your own fault, don't expect to recieve support. On the contrary, asking for one will put you faster on the unemployment bentch than you think ( happened to a colleague)

-Zero employee morale - basically 90% of the treasury team leaves within a year ( true statistics). Main reason - management that creates a sick environment, comparable to a concentration camp.

To sum up, do yourself a favor and don't even bother apply. You will not only lose your time but hurt your career and health. Don't do it! There are so many better companies out there ( happen to work for one now) that will put a lot more value on you and your career development.

Advice to Senior ManagementFirst day on the job I was told " If you think this is a place where you can chat around with colleagues, you are not int he right place" Turned out to be the total true. I have no other comments.

No, I would not recommend this company to a friend

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great experiences with IB

Programmer (Former Employee)
Stamford, CT (US)

I worked at Interactive Brokers

Prosrelaxed atmosphere, helpful coworkers and good benefits. the staff is placed in an effective way, so everyone has to work hard

Consnot sure about the location, the wait between interviews are so long. the initial test took about an hour to complete.

Advice to Senior Managementhire people with better education background; make sure the interview process is more structured. otherwise, like the interview style and the general manner.

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Exciting but lack of proper supervision

Financial Trader (Former Employee)
Dhaka (Bangladesh)

I worked at Interactive Brokers

Pros- Opportunity to trade in foreign financial market and learn about the market practically.
- Opportunity to learn technical analysis by applying it in real situation.
- Management gave ample opportunity to prepare for real trading by trading simulation

Cons- Only two person in the firm have real trading experience.
- Do not have a knowledgeable and experienced supervisor for new traders.
- Failed to give a proper guideline to the new trader for example: what is expected to them after the end of a day or month.

Advice to Senior Management- Should appoint a supervisor who have real trading experience.
- Should have more trading style in the firm to accommodate different people with different qualification. For example: A person who have proper training and motivation to trade by proper analysis should have the independence to trade coming out of the limitation of "day trading style"

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stable company hedged against turbulent downside but chronically running out of new ideas

Anonymous Employee (Current Employee)

I have been working at Interactive Brokers

Prosfinancially hedged against market turbulence because the nature of market making and brokerage business.
Almost no politics. Everyone works hard. Manager is fair and straight in compensation.

ConsInnovations from ground level employees are not encouraged. The only people that are eligible to do "thinking" are the few biggest shots at top management level.
No communications, no incentive for cooperations. Lots of redundant and subpar work.
Fetish with cost reduction and execution efficiency: penny-wise and dollar-foolish.
Zero attention to employee's career development. No job title, no visibility in the profession circle. They want you to forever work there, which means slow death if the word 'ambition' still sounds good to you.

Advice to Senior ManagementTake a breath, put away petty meaningless product 'features', do some visionary thinking. Otherwise IB will be forever stuck with a 'low-cost' brainless muscle executor image. Well, not really 'forever', because labors in US is still lofty and competitors from around globe will catch up, just look at what happened to Timberhill's steady decline.

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6 people found this helpful  

Avoid this at all costs if you value life outside of work

Senior Developer (Current Employee)
Greenwich, CT (US)

I have been working at Interactive Brokers

ProsDecent salary is how we get people in the door. Based on performance (and we are pretty fair about this), you can get a decent bonus. There are absolutely no meetings to attend, not any -- ever. So if you like to sit at your desk and just work (i.e., no politics) then that is a plus.

1. The hours are fine -- approximately 9am to 6pm.

2. They allow you $12 per day to order lunch on seamless web.com.

2. The work is fairly interesting IF you get assigned an interesting project.

3. They give you annual "cost of living" increases of 4% per year.
THIS IS WHY I AM STILL HERE AFTER 8 YEARS, FYI. It adds up -- quickly!

ConsBenefits, culture, and career. Trust me, you do NOT want to work at this place unless you are 21 and have no life. I got in early, and I'm almost done, but in clear conscience I must tell it like it is.

1. You are expected to be at your desk the entire time, even for lunch. You will be reprimanded if you are away from your desk for too long.

2. You do NOT socialize with your coworkers. Management walks by several times per day and WILL notice this and comment about getting back to work. It has gotten better in the 8 years that I have been here but this is not a place to go to make friends or to have any type of workplace camaraderie.

3. The benefits are horribly, horribly abysmally bad. You'd better not have any type of protracted injuries, for example, because if you need short-term disability (I did once) it provides a MAX of $500 per week for 26 WEEKS (since when is 26 weeks short-term?!!!). A normal policy would provide FULL salary for 6 weeks followed by HALF salary for a much longer term.

4. The benefits also suck for vacation -- you get 2 weeks (10 days) per year. You have to work there for 5 years (!!!) to get another 2 days (!!!). This is a sweat-shop, boys, plain and simple.

5. You will not be exposed to any of the inner-workings of the firm for many, many years. This is prudent on our part, but it also means that YOU WILL NOT LEARN ANYTHING about the brokerage or trading business that you couldn't get by working for 1 year at another firm. You are here to code, plain and simple.

Guys -- I got in early and got stock options and I'm almost done with my career. I have had highs and lows with this firm. But I look at some of the new people coming in now, and it's just pathetic that they don't know how much better it can be at other places. I have golden handcuffs -- they do not.

Look elsewhere and you'll thank me that you did.

Advice to Senior ManagementNone -- this is a money-making machine and they squeeze everything they can out of labor. It's paid me well and continues to do so.

No, I would not recommend this company to a friend

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pretty secretive and communist attitude, stingy with salary

Quantitative Analyst (Former Employee)
Greenwich, CT (US)

I worked at Interactive Brokers

ProsLearn to code ( it is a programing sweat shop) and
Learn basics of finance and trading
Get your foot in the door

Conspoor compensation
no freedom to be creative
Very autocratic
the place has a management crisis
and a really secretive culture where they dont permit interactions

No, I would not recommend this company to a friend

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It's not at all a social place to work !

Software Engineer (Current Employee)
Greenwich, CT (US)

I have been working at Interactive Brokers

ProsGreat salary and benefits recession proof .

ConsNo social life and team culture.

No, I would not recommend this company to a friend

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Don't Do it

Anonymous Employee (Current Employee)
Chicago, IL (US)

I have been working at Interactive Brokers

ProsFree Lunch & decent bonus

ConsNo work life Balance, Consistently understaffed and overworked. Pay is not for performance.

Advice to Senior ManagementWork Life Balance ever heard of it?

No, I would not recommend this company to a friend

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Glassdoor is your free inside look at Interactive Brokers reviews and ratings - including employee satisfaction and approval ratings for Interactive Brokers CEO Thomas Peterffy. All 38 reviews are posted anonymously by Interactive Brokers employees.