Bullying management; toxic environment - Individual Contributor Fastmarkets Employee Review

1.0
Oct 3, 2020
Recommend
Business Outlook

Pros

They have paid bonuses throughout the pandemic. Doesn't look like we'll be going back to the office this year.

Cons

The only people that get ahead at Fastmarkets are the ones that actively spend all their time brown nosing senior management, even if they're demonstrably incapable of doing their job, known for treating other members of their team with a consistent lack of respect, are caught out simply not doing the core functions of their jobs for extended periods of time. If you don't click socially with your manager, which at times is due to cultural differences (since not all of us are middle class white English people) you do not get the opportunity for progression or recognition for your work, irrespective of the results you bring in, the quality of your ideas or your experience. Related to this, if you're a junior person in the company, there's no point bringing up ideas that your manager hasn't first mentioned. The culture is such that the only good idea a junior can have is that their manager has lots of great ideas. A few times now i've seen people bring up possible solutions to problems, but the decision maker doesn't want to deal with it, because they are only interested in implementing their own manager's vision (to do something that might save the company time and money but isn't the flavour of the week for senior management is wasting your own time since it won't help you progress). Because of the resulting lack of competence in those that do make it into middle and senior management, even the most basic projects suffer from a lack of accountability and end up being binned after significant amounts of work going into it or otherwise derailed. In some departments there's constant change in leadership. Every time a new leader comes in they think they're going to revolutionize the way things are done, without speaking to the people that are working with products and customers to find out what the main problems are that need to be fixed. Inevitably they fail since they didn't want to work with less senior people to find solutions to known problems. People are hired into senior positions based on how well they talk the talk; rarely do they walk the walk. You are sent the message that you should never ask for help. At the very least it will mean that your manager starts disliking you, at worst you'll be punished for speaking up by having your requests for help completely denied or even having more worked piled on your plate after you've said you're struggling. The expectation in some teams is that instead of asking for help you need to just wake up a 6am and work till 9/10pm every day, and then do a bit more work over the weekends.

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Fastmarkets Response
5y
Firstly, thanks for leaving the feedback. It is disappointing to read comments like this and we take this feedback very seriously. Naturally, we are very concerned by your claim of “bullying management” who “treat other members of their team with a consistent lack of respect”. We strive to ensure that we have a positive working environment and where people are treated with respect by their colleagues and certainly by their managers. We do not tolerate any form of bullying. As a current employee, I urge you to raise this issue with your local HR manager, or via the confidential feedback channels provided to all our employees. Over the last 24 months, we increased focus on development, especially for people managers. Among other sessions, this included recruitment training and clear and transparent hiring and promotion processes. Understanding and respecting the different backgrounds of our many global employees is something we both promote and proactively drive through the many business-led diversity initiatives such as the Diversity and Inclusion week that took place in September and other mandatory training. We have worked hard to ensure people have a good work life balance at Fastmarkets (especially now with many people working from home and balancing personal and work commitments). Feedback from teams has generally been positive in this area. We recognise that no organisation is perfect and there are always areas to improve. Continued feedback is critical to this process. All Fastmarkets employees can provide this feedback to us through the interactive sessions of our quarterly townhalls, regular employee surveys or via the confidential feedback links. I encourage you to use these channels so that we can specifically respond to each of your concerns. We are keen on creating an even better culture and invite you to help us do so. Thank you. Raju Daswani CEO, Fastmarkets

Explore other reviews about Fastmarkets

5.0
Mar 13, 2024
Recommend
Business Outlook

Pros

Lots of room for career advancement. Good transparency from management. Good work flexibility

Cons

Work can be stressful and demanding as some prices are used in clients contracts.

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Fastmarkets Response
2y
Thank you for your 5-star review. We value the time and effort you have put into providing feedback. We are pleased to see your favorable comments regarding opportunities for career advancement and the transparency exhibited by the management team. In response to your observation that work can be stressful, I recommend reaching out to your line manager and/or HR Lead to discuss potential solutions that may alleviate this issue. Once again, thank you for your review.
2.0
Apr 25, 2026
Recommend
Business Outlook

Pros

disappearing rapidly. all the old reasons to work here are being stripped away

Cons

The company was bought by private equity, who set unreasonable growth goals as an excuse to not pay out bonuses or give raises anymore. Fastmarkets' CEO has become obsessed with the former CEO of a competitor, who singlehandedly destroyed the competitor's standing in the markets (they lost all their crude benchmarks due to his poor leadership). But for some reason the current Fastmarkets CEO has overlooked all that and slavishly does whatever the retired CEO recommends. Which seems to be triple all the pricing and drive away all the customers (just like at his old company!) while making the company a worse place to work every day. The desperation is obviously growing internally as the company is stripping itself clean like a chicken bone to fake higher and higher profits every quarter, and employees are given more punitive administrative tasks every month to prove they are providing value. Goals change suddenly without warning, and employees are expected to meet rising goals even while not being allowed to attend industry events because of budget cuts. One year I watched the marketing team have total turnover 3 times in a single year, leading to very chaotic conference events. Sales is given ever-higher goals in completely saturated markets, making it impossible to succeed. At one meeting the sales team bragged about its growth by saying the oldest employee had been there for 60 days - a fact that should be raising alarm bells instead of praise. Pay rates are chaotic and unfair, with younger and less experienced workers sometimes making up to 50% more than longer-term employees. Do not settle for an offer here less than $105k because that is what they are paying new market reporters with hardly any experience - and you will need higher income to offset the risk of joining this company. Fastmarkets is a ticking time bomb for the private equity to strip it and sell it for parts, which means no more jobs for anyone.

3
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Fastmarkets Response
1mo
Response from Raju Daswani, CEO, Fastmarkets Thank you for sharing your perspective. I recognise that periods of significant change can feel unsettling, particularly when expectations evolve quickly, and I want to respond personally. Fastmarkets is being led with a clear, long term view: to build a resilient, high quality, market leading business. As part of that, I deliberately seek input from experienced advisors — both from within and outside our sector — who have led organisations through growth, disruption and transformation. We do this to learn broadly: from successes, from mistakes, and from contrasting experiences. That diversity of perspective strengthens our judgement and helps us avoid repeating the errors others have made. And while we have grown significantly over the last few years and have newer team members, we have many team members with 15-20 years’ experience and more! Operating in highly competitive markets requires tough decisions around pricing, investment and priorities. Those decisions are not about short term optics, nor are they driven by any single external influence. They are grounded in protecting the long term integrity of our benchmarks, delivering value to customers, and ensuring Fastmarkets continues to thrive as a business with a future. That said, feedback like this is important. Even when I disagree with the framing, it highlights where we must do better — particularly in how clearly we explain change, how consistently we set expectations, and how well we connect decisions to long term opportunity for our people as well as the company. I appreciate you taking the time to share your views. Raju Daswani Chief Executive Officer Fastmarkets
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