Citco reviews

3.4

59% would recommend to a friend

(3,583 total reviews)

Christopher Smeets

67% approve of CEO

60% positive business outlook

Citco has an employee rating of 3.4 out of 5 stars, based on 3,583 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Citco employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

4K reviews
1.0
Apr 12, 2017

Very bad company

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Free drinks. Good for your first real job out of school or your co-op.

Cons

Most of the people working here are highly illiterate. They people who work here have degrees just because they were able to essentially “buy” one. Only a handful of people are actually smart. Barely any of them have any intention of enrolling in a professional program (CFA, CPA etc) and improve their skills or become competent in general. While diversity is encouraged, most of the people (including managers of different ethnic groups) have a hard time communicating in English and this makes it very difficult if not impossible to understand them. If your boss is not a fluent in English or a native English speaker, good luck working here. People who work here are mostly rejects of good companies. All the good candidates are either hired by an accounting firm or by other large well known multinational institution sooner or later. So, it is the “leftovers” who end up joining, working and staying here. The company lied to me about my job description. Most of the work I perform are highly irrelevant with my job description. If you point it out, supervisors and managers will bring it up during performance evaluation and either fire you by bringing up other topics, or keep you in the same position. Working overtime throughout the year is the norm. Your boss will bombard you with questions if you dare to take time off no matter how bad your situation is. The workplace culture is severely toxic and getting promoted depends on both your and your supervisors/managers ethnic background. Be very aware of your coworkers and your boss as they would love to throw you under the bus anytime. To the people who are desperate for work, plan to work here for a year or two or less. The more time you will spend here after a year, the deeper you will fall in a trap. Do not believe you will get promoted or get a raise. It will certainly never happen. You will do a lot better working somewhere else. While working here, apply for as many jobs as you possibly can in different companies. You will soon realize that working at fast food isn’t as bad as you may think if you compare working in this company. The firm is very unprofessional and has a very dark future in my opinion.

avatar
Citco Response
9y
Dear Former Colleague: We take reviews by current and former employees very seriously and respect that they have their own perspectives on their work experience. However, we find it particularly concerning when reviews contain false information and are far removed from the values that our Company holds firmly – such as the strength of a diverse workforce and mutual respect amongst colleagues. Frankly we are shocked by how insulting your comments are across the board to your former co-workers and the firm in general. At Citco, we pride ourselves on hiring qualified candidates. Furthermore, we have strong partnerships with our local Universities - partnerships that are based on robust vetting processes. To state that degrees can be “bought” is not only falsely outrageous but defamatory. At our most recent town hall in Toronto, we presented the number of promotions in 2016 and year to date. These promotions were dispersed throughout all of our departments and were based on the needs of the business, roles/responsibilities, and qualifications. An employee’s ethnicity, gender, race, etc. is never a consideration. We maintain that if any employee ever has any serious concerns about employment practices here at Citco, they should escalate them to HR or senior management, where they will be promptly reviewed and addresses appropriately.
3.0
Apr 9, 2017

Citco Fund Services

Recommend
CEO approval
Business Outlook

Pros

- High non-taxable allowance - 14th month pay - Transportation reimbursement, depending on the team - HMO coverage up to two (2) dependents - Free drinks (plus free beer every Friday) - Pantry is very spacious, perfect for small events and gatherings - Billiards during free time - Great company parties and events - Multi-cultural environment - Claritas Investment Certificate is sponsored by the company - Company is perfect for those who are interested in learning hedge funds, especially for fresh graduates and career shifters - Possible opportunity for career advancement to other Citco offices worldwide

Cons

Cons vary from team to team - Workload can be very toxic and less distributed - Politics can be very high (and unhealthy) - Some employees who are less deserving (to be promoted) get promoted first before employees who are more deserving - Sometimes workload does not match with the salary

avatar
Citco Response
9y
Dear Colleague, thank you for your review. You've highlighted a number of positives that Citco is very proud of, we do indeed enjoy a diverse and multicultural population, invest heavily in training and offer a solid platform to learn about Hedge funds to support career development. Our performance management process is designed to rate employees fairly and consistently and we have a practice in place to ensure promotions are based on merit and not favouritism. We also aim to reward high performance as competitively as we can and we do review our compensation and benefits in local markets regularly to ensure that we are being both fair and competitive. Thank you for all of your comments.
1.0
Apr 5, 2017
Recommend
CEO approval
Business Outlook

Pros

None to mention.. only free beer.

Cons

Too many lay offs, they will hire you as a full time even for 1 year job and then just lay off. No growth plans. Don't get lured by beer bottles in cafeteria.

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Citco Response
9y
Dear Former Colleague - Unfortunately in today's economic environment - the best of companies struggle to make the best decisions for stakeholders and employees alike. In order to grow and maintain our business operations, Citco has at times needed to make some tough financial and people decisions. I can assure you a great deal of thought goes into the process to keep the impact to a minimum. Anyone caught up in such an action is treated with dignity and with a generous package to help them find their next opportunity.
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