Bear Stearns Sucks Customer Reviews and Feedback
The Bear Stearns Companies, Inc. was a New York-based global investment bank, securities trading and brokerage firm that failed in 2008 as part of the global financial crisis and recession, and was subsequently sold to JPMorgan Chase. The company's main business areas before its failure were capital markets, investment banking, wealth management, and global clearing services, and it was heavily involved in the subprime mortgage crisis.
says"Hated every minute of it"
Current Employee - Anonymous Employee says"A culture of egotism, elitism, and entitlement."
Managing Director says"If you are not someone's "pet" it is difficult to get things done. Everyone wants to challenge, sometimes people seem to think that they are rewarded for being obnoxious."
says"Disorganized, random career outcomes as each group is fiefdom"
Former Employee - Senior Managing Director says"Disorganized, Whimsical (in performance evaluations), Poor controls (which lead to disgraceful end)"
Intern says"Management made consistently poor decisions."
says"Unfortunately, it doesn't exist anymore."
says"Compensation was always an issue - bonus' were very meek to IT staff even in good markets and raises were not granted - all pay treatment was done as bonus No 401K match No pension -profit sharing and that was not very good either Frequently changing benefit providers Bonus' were mostly distibuted based on who you knew rather than what you did They often made rules but when a senior exec challenged a rule when trying to enforce it they would rarely if ever back local managers Some staff at some sites were outsourced and others were not, also done based on popularity of the local site managment with NY"
says"The MD's didn't care about anyone but themselves. It was hard to come in every day and greet people who didn't care about your work"
Vice President says"the work hours no work after life and no going forward"
Information Architect (Former Employee) says"...and I couldn't be happier. Other than a few people I worked with, I absolutely hated everything about the place. Greed is what killed them and I saw it first hand."
Sales Associate (Former Employee) says"Bear Stearns was sold to Chase in the beginning of the financial crisis in 2008/2009. Therefore I can not recommend working for a company that no longer exists.benfitsSold"
Consultant (Former Employee) says"This was a very challanging position a amajor investment bankWell paidHeavy work load"
Mortgage Processor Assistant (Former Employee) says"Excellent company that caught up in the economy windfall and recession."
New Accounts Representative (Former Employee) says"Responsible for all aspects related to processing bi-weekly payroll functions (900 Multi-state, union and non-union employees) Prepared W-2 and 1042S tax statements (citizen and non-citizen) Maintained time entries in Kronos Prepared payroll reports required by state and federal regulations, ensure that all deadlines are met and provided statistical reports as requested Coordinated direct deposit activation, reversal and manual payroll checks"
Prime Broker (Former Employee) says"Company closed after mortgage crisis laid off many employees. Worked there for one year and was let go. Bonuses were not compatable to market rate.Free LunchesHealthcare"
Controller-Summer Analyst (Former Employee) says"Unnecessary to write a review on a company that no longer exists."
Transaction Specialist / Cashier (Former Employee) says"Bear Stearns was a great company to work for. Education advancement was offered at the company's expense. The company motivate you to continously think on how to make suggestions for the profitable goal to achieve at a certain time frame.unlimited treats, convenient medical treatments, respectable environmentnone"
Assistant Managing Director (Former Employee) says"Daily functions varied from selling to get deals to completing complex transactions once won. As manager, staffing, systems support and general operation of group also part of daily job. Workplace culture was cutthroat. Most difficult and most enjoyable part of job was trying to win deals and then when winning them, bringing them to market.Allowed to function independentlyNo institutional performance evaluation"
Staff Accountant - Consolidations (Former Employee) says"Company has ceased to exist due to ego. Lots of old-school yelling and screaming. Political correctness was non-existent which may have led to its demise."
Vice President - Systems Programmer (Former Employee) says"Given that this was the first investment bank to go under during the 2008 financial crisis, I do not believe that I need to write a review for it at this point in time.career boostit longer exists"
Information Technology Specialist (Former Employee) says"This managers I worked for were not aware of all that was going on in the department. This company was bought out by an Australian firm and no longer exists. It is STEARNS and WHELER, not Bear, Stearns & Co."
Vice President - Procurement/Program Manager (Former Employee) says"A typical work day at Bear Stearns was never relaxing. Vendor negotiation and customer satisfaction issues took first priority. What I have learned working for Bear Stearns is that it mirrors life. Life is not easy and you must work at a fast pace to keep up and become comfortable with change. I have learned to think quick on my feet and make decisions at the most difficult time. Management was fast pace with no excuses, companies exist to make money and you must work on producing at all levels. The work place culture was cutthroat and very aggressive. You had to be knowledgeable or else go back to the drawing board and do your research. The hardest part of the job was terminating employees that giving a little more time may have pulled through for the company. The most enjoyable part of the job was working in New York City at a fast pace and being part of breakthrough technological information systems, a diverse workforce and an opportunity to demonstrate successful accomplishments.ChallengingCutthroat culture"
Analyst (Former Employee) says"While at Bear Stearns, I was able to utilize my analytical skills to generate reports that were reviewed by management. The company was eventually bought by Chase Morgan; therefore, the workplace culture was not extremely positive, since employees were concerned about their jobs."
Executive Assistant to Managing Director (Former Employee) says"Bear Stearns provided an environment where I was well paid, worked very hard and saw very little of the results of my efforts. I spent 80% of my time preparing Powerpoint presentations. Management sequestered themselves from clerical personnel to the extent that we very rarely felt any happiness over the results of our efforts. Everything was viewed on a dollars and cents basis.great experience with powerpoint and excelhard work, but very little appreciation was shown"
Market Analyst (Former Employee) says"I was exposed to many facets of international banking . Which allowed me to develop a true sense of being part of a global brand .gained a lot of experiencea elitist culture that culminated in the 2008 crisis"
Credit Derivatives (Former Employee) says"This was my first job out of college. The experience was great but the management and work culture were not. I would have kept working there because I was doing well but management was not great."
Sr. UNIX Administrator (Former Employee) says"not good culture as upper management all came from another company. One by one all the SA's left and not many were happy with upper management. not a pleasant experience."
Research Sales Assistant (Former Employee) says"The company spent money very unwisely. It was supported by two main hedge funds which both collapsed in 2008. Even though he company saw that it was quickly heading for bankruptcy, it did nothing to preemptively save itself.Working in Los Angeles, my day ended at 4pm.The pay was very poor."
Senior Helpdesk/Desktop Technician (Former Employee) says"75% HelpDesk and 25% Desktop support. At Bear, I was introduced to the HelpDesk.world. People I worked with at Bear was amazing. The hardest part of this job was to deal with stock brokers."
FCF/(D-G) says"@Lizquidity Enron, Lukin Coffee, Wirecard, Worldcom, Tyco, Healthsouth, Countrywide, Lehman, Bear Stearns, $TSLA, etc."
KAG92503 says"RT @GlenWoodfin: Bear Stearns trader Howie Rubin 'raped and beat women'. Tied to George Soros. https://t.co/yb80bbzI5S"
openheadart says"@jimcramer Rich AF Jim Cramer gets called out on Twitter for not wearing a mask in an airplane, endangering the oth… https://t.co/T7FKYe4V5K"
Freedom Ride says"RT @KirbySommers: In 1999 Edgar Bronfman is awarded the Medal of Freedom by Bill Clinton. Bronfman was Jeffrey Epstein's first big client…"
In The News
The Guardian reports"Former Bear Stearns boss Jimmy Cayne blames conspiracy for bank's collapse"
Mirror Online reports"Mum, 35, found hanged alongside drowned son, 7, had ‘been battling breast cancer’"
Washington Post reports"JPMorgan remorse on Bear Stearns prompts question: Were crisis mergers worth it?"
Fox Business reports"The woes of Jeffrey Epstein: How he maintained Wall Street connections while downplaying child sex accusations"