Chicago Board Options Exchange

www.cboe.com
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Chicago Board Options Exchange Reviews

Updated 4 March, 2015
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Employee Reviews

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  1. Examiner

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

    I worked at Chicago Board Options Exchange full-time

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    Pros

    Big learning curve, challenging, looks great on your resume, great people

    Cons

    TONS AND TONS of mandatory training that will eat up your weeks, below average pay

  2. Helpful (4)

    look elsewhere

    • 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 (More than 8 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    good location in downtown Chicago

    Cons

    Management is not the best

  3. Investigator

    • 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 (More than 3 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great learning opportunities if you are proactive and very helpful people throughout the organization.

    Cons

    Not enough career growth potential

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  5. Helpful (5)

    think long and hard

    • 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

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    good stepping stone but do not expect to develop a 21st century career heer

    Cons

    prepare for abuse, management is incompetent

    Advice to Management

    get rid of the lifers

  6. So far so good

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

    I have been working at Chicago Board Options Exchange full-time (More than a year)

    Recommends
    Negative Outlook
    No opinion of CEO
    Recommends
    Negative Outlook
    No opinion of CEO

    Pros

    Life flexibility, work environment, benefits and great options for financial training.

    Cons

    Salary is low compared to other competitors and certain attitudes of people should go.

    Advice to Management

    Communication! Everyone does their own thing that leads to a lot of misunderstandings. Accountability would also help, no one really steps up to take initiative.

  7. Helpful (3)

    Investigator

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

    I have been working at Chicago Board Options Exchange full-time (More than 5 years)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Solid work-life balance
    Interesting prop products

    Cons

    Compensation is not up to par with industry expectations
    The Regulatory Division is the red headed step child of the exchange.
    Some of the higher ups are stuck in the open outcry years and really don't understand the "new" way of trading.
    Higher ups are prone to "not invented here" bias and generally look more at a person's title instead of the persons knowledge on a given subject. This is big with rank and file who may have advanced degrees (MBA/MSF/JD) or specialization (former MM) and yet are shut down by middle and upper middle management who has longevity over actual knowledge of a case/rules/way of trading.

    Advice to Management

    Make an effort to say hello. Perhaps the heads of the exchange may want to go over to the reg side once a month to show his face. Generally make people feel a bit more wanted. Duh.

    Pay market rate (CME/FINRA). If you keep saying you do a better job than FINRA then take care of your employees like FINRA does.

    Understand that some people may know more about a given subject even though their title may not show it. You know what? Get rid of titles they are worthless in that organization - some of the higher ups don't know how a contract gets filled electronically so how can you expect them to be effective regulators?

    Give a clear path for advancement and give middle management the opportunity to be more flexible - and get rid of those who have no business being in management in the first place.

  8. Great place for IT technical work

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

    I have been working at Chicago Board Options Exchange full-time (More than 5 years)

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    Good salary, great benefits, good people. Lot of opportunity to learn and grow technically

    Cons

    No much opportunity for career growth.

  9. 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 (More than a year)

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    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

  10. Helpful (1)

    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 (More than 5 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    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 Management

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

  11. Helpful (4)

    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

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

    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 Management

    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.

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