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Segment Reporting (Details) (USD $)
3 Months Ended 12 Months Ended
Dec. 31, 2013
customer
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
customer
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
customer
segment
Dec. 31, 2012
customer
Dec. 31, 2011
Segment Reporting Information [Line Items]                      
Number of Operating Segments                 2    
Revenues                      
Investment banking                 $ 105,333,000 $ 71,762,000 $ 50,976,000
Brokerage                 114,593,000 91,167,000 99,611,000
Management fees                 37,303,000 38,116,000 52,466,000
Incentive income                 12,586,000 5,411,000 3,265,000
Interest and dividends                 39,454,000 24,608,000 22,306,000
Reimbursement from affiliates                 9,161,000 5,239,000 4,322,000
Total revenues 97,438,000 81,360,000 81,207,000 67,241,000 65,932,000 57,598,000 59,470,000 57,480,000 327,246,000 240,480,000 235,278,000
Expenses                      
Employee compensation and benefits                 207,248,000 194,034,000 203,767,000
Interest and dividends                 27,299,000 12,137,000 9,233,000
Goodwill impairment                 0 0 7,151,000
Total expenses                 360,917,000 326,900,000 375,655,000
Other income (loss)                      
Net gain (losses) on securities, derivatives and other investments                 40,924,000 55,665,000 15,128,000
Bargain purchase gain                 0 0 22,244,000
Total other income (loss)                 51,968,000 62,911,000 41,767,000
Income (loss) before income taxes and non-controlling interests 5,372,000 8,324,000 3,506,000 1,095,000 (8,243,000) (11,455,000) (10,189,000) 6,378,000 18,297,000 (23,509,000) (98,610,000)
Income tax expense (benefit) 169,000 (46,000) 158,000 176,000 (48,000) 163,000 191,000 142,000 457,000 448,000 (20,073,000)
Economic income (loss)/ net income (loss) before non-controlling interests                 17,840,000 (23,957,000) (102,183,000)
Net income (loss) from discontinued operations, net of tax                 0 0 (23,646,000)
Net income (loss) attributable to Cowen Group, Inc. stockholders 2,519,000 3,611,000 1,093,000 (2,576,000) (9,349,000) (10,585,000) (7,946,000) 3,995,000 4,647,000 (23,885,000) (108,010,000)
Number of major customers 0       0       0 0  
Reported Under U.S. GAAP
                     
Revenues                      
Investment banking                 105,333,000 71,762,000 50,976,000
Brokerage                 114,593,000 91,167,000 99,611,000
Management fees                 37,303,000 38,116,000 52,466,000
Incentive income                 12,586,000 5,411,000 3,265,000
Investment Income                 0 0 0
Interest and dividends                 39,454,000 24,608,000 22,306,000
Reimbursement from affiliates                 9,161,000 5,239,000 4,322,000
Other revenue                 5,418,000 3,668,000 1,583,000
Total revenues                 327,246,000 240,480,000 235,278,000
Expenses                      
Employee compensation and benefits                 207,248,000 194,034,000 203,767,000
Interest and dividends                 27,299,000 12,137,000 9,233,000
Non-compensation expenses - Fixed                 0 0 0
Non-compensation expenses - Variable                 0 0 0
Non-compensation expenses                 124,331,000 119,053,000 152,722,000
Goodwill impairment                     7,151,000
Reimbursement from affiliates                 0 0 0
Total expenses                 360,917,000 326,900,000 375,655,000
Other income (loss)                      
Net gain (losses) on securities, derivatives and other investments                 40,924,000 55,665,000 15,128,000
Bargain purchase gain                     22,244,000
Total other income (loss)                 51,968,000 62,911,000 41,767,000
Income (loss) before income taxes and non-controlling interests                 18,297,000 (23,509,000) (98,610,000)
Income tax expense (benefit)                 457,000 448,000 (20,073,000)
Economic income (loss)/ net income (loss) before non-controlling interests                 17,840,000 (23,957,000) (78,537,000)
Net income (loss) from discontinued operations, net of tax                     (23,646,000)
(Income) loss attributable to redeemable non-controlling interests in consolidated subsidiaries                 (13,193,000) 72,000 (5,827,000)
Net income (loss) attributable to Cowen Group, Inc. stockholders                 4,647,000 (23,885,000) (108,010,000)
Operating Segments | Reported Under Economic Income/(Loss)
                     
Revenues                      
Investment banking                 105,333,000 71,762,000 50,976,000
Brokerage                 121,065,000 93,903,000 99,611,000
Management fees                 56,984,000 56,381,000 67,309,000
Incentive income                 21,933,000 15,205,000 10,366,000
Investment Income                 36,660,000 50,116,000 41,347,000
Interest and dividends                 0 0 0
Reimbursement from affiliates                 0 0 0
Other revenue                 2,534,000 1,248,000 615,000
Total revenues                 344,509,000 288,615,000 270,224,000
Expenses                      
Employee compensation and benefits                 204,836,000 188,155,000 192,558,000
Interest and dividends                 350,000 339,000 735,000
Non-compensation expenses - Fixed                 95,524,000 95,462,000 103,181,000
Non-compensation expenses - Variable                 30,643,000 25,275,000 41,497,000
Non-compensation expenses                 0 0 0
Goodwill impairment                     0
Reimbursement from affiliates                 (6,380,000) (5,527,000) (4,602,000)
Total expenses                 324,973,000 303,704,000 333,369,000
Other income (loss)                      
Net gain (losses) on securities, derivatives and other investments                 0 0 0
Bargain purchase gain                     0
Total other income (loss)                 0 0 0
Income (loss) before income taxes and non-controlling interests                 19,536,000 (15,089,000) (63,145,000)
Income tax expense (benefit)                 0 0 0
Economic income (loss)/ net income (loss) before non-controlling interests                 19,536,000 (15,089,000) (63,145,000)
Net income (loss) from discontinued operations, net of tax                     0
(Income) loss attributable to redeemable non-controlling interests in consolidated subsidiaries                 (12,995,000) (2,480,000) (8,292,000)
Net income (loss) attributable to Cowen Group, Inc. stockholders                 6,541,000 (17,569,000) (71,437,000)
Alternative Investment
                     
Expenses                      
Goodwill impairment                 0 0  
Alternative Investment | Reported Under Economic Income/(Loss)
                     
Revenues                      
Investment banking                 0 0 0
Brokerage                 0 0 0
Management fees                 56,984,000 56,381,000 67,309,000
Incentive income                 21,933,000 15,205,000 10,366,000
Investment Income                 30,713,000 40,374,000 33,599,000
Interest and dividends                 0 0 0
Reimbursement from affiliates                 0 0 0
Other revenue                 524,000 844,000 622,000
Total revenues                 110,154,000 112,804,000 111,896,000
Expenses                      
Employee compensation and benefits                 54,656,000 59,647,000 46,757,000
Interest and dividends                 231,000 151,000 184,000
Non-compensation expenses - Fixed                 33,986,000 32,575,000 33,954,000
Non-compensation expenses - Variable                 4,520,000 4,941,000 17,085,000
Non-compensation expenses                 0 0 0
Goodwill impairment                     0
Reimbursement from affiliates                 (6,380,000) (5,527,000) (4,602,000)
Total expenses                 87,013,000 91,787,000 93,378,000
Other income (loss)                      
Net gain (losses) on securities, derivatives and other investments                 0 0 0
Bargain purchase gain                     0
Total other income (loss)                 0 0 0
Income (loss) before income taxes and non-controlling interests                 23,141,000 21,017,000 18,518,000
Income tax expense (benefit)                 0 0 0
Economic income (loss)/ net income (loss) before non-controlling interests                 23,141,000 21,017,000 18,518,000
Net income (loss) from discontinued operations, net of tax                     0
(Income) loss attributable to redeemable non-controlling interests in consolidated subsidiaries                 (12,995,000) (2,480,000) (8,292,000)
Net income (loss) attributable to Cowen Group, Inc. stockholders                 10,146,000 18,537,000 10,226,000
Broker-Dealer
                     
Expenses                      
Goodwill impairment                 0 0 7,200,000
Broker-Dealer | Reported Under Economic Income/(Loss)
                     
Revenues                      
Investment banking                 105,333,000 [1] 71,762,000 [2] 50,976,000 [3]
Brokerage                 121,065,000 [1] 93,903,000 [2] 99,611,000 [3]
Management fees                 0 [1] 0 [2] 0 [3]
Incentive income                 0 [1] 0 [2] 0 [3]
Investment Income                 5,947,000 [1] 9,742,000 [2] 7,748,000 [3]
Interest and dividends                 0 [1] 0 [2] 0 [3]
Reimbursement from affiliates                 0 [1] 0 [2] 0 [3]
Other revenue                 2,010,000 [1] 404,000 [2] (7,000) [3]
Total revenues                 234,355,000 [1] 175,811,000 [2] 158,328,000 [3]
Expenses                      
Employee compensation and benefits                 150,180,000 [1] 128,508,000 [2] 145,801,000 [3]
Interest and dividends                 119,000 [1] 188,000 [2] 551,000 [3]
Non-compensation expenses - Fixed                 61,538,000 [1] 62,887,000 [2] 69,227,000 [3]
Non-compensation expenses - Variable                 26,123,000 [1] 20,334,000 [2] 24,412,000 [3]
Non-compensation expenses                 0 [1] 0 [2] 0 [3]
Goodwill impairment                     0
Reimbursement from affiliates                 0 [1] 0 [2] 0 [3]
Total expenses                 237,960,000 [1] 211,917,000 [2] 239,991,000 [3]
Other income (loss)                      
Net gain (losses) on securities, derivatives and other investments                 0 [1] 0 [2] 0 [3]
Bargain purchase gain                     0 [3]
Total other income (loss)                 0 [1] 0 [2] 0 [3]
Income (loss) before income taxes and non-controlling interests                 (3,605,000) [1] (36,106,000) [2] (81,663,000) [3]
Income tax expense (benefit)                 0 [1] 0 [2] 0 [3]
Economic income (loss)/ net income (loss) before non-controlling interests                 (3,605,000) [1] (36,106,000) [2] (81,663,000) [3]
Net income (loss) from discontinued operations, net of tax                     0
(Income) loss attributable to redeemable non-controlling interests in consolidated subsidiaries                 0 [1] 0 [2] 0 [3]
Net income (loss) attributable to Cowen Group, Inc. stockholders                 (3,605,000) [1] (36,106,000) [2] (81,663,000) [3]
Investment Income from Entity's Capital                 7,600,000 10,200,000 5,600,000
Compensation Expense Related to Investment of Entity's Capital                 2,500,000 3,400,000 1,800,000
Significant Reconciling Items | Reconciliation from Economic Income/(Loss) to U.S. GAAP
                     
Revenues                      
Investment banking                 0 0 0
Brokerage                 (6,472,000) [4] (2,736,000) [4] 0
Management fees                 (18,535,000) [5] (16,791,000) [5] (13,034,000) [5]
Incentive income                 (9,347,000) [5] (9,794,000) [5] (7,101,000) [5]
Investment Income                 (36,660,000) [6] (50,116,000) [6] (41,347,000) [6]
Interest and dividends                 39,454,000 [6] 24,608,000 [6] 22,306,000 [6]
Reimbursement from affiliates                 9,260,000 [7] 5,527,000 [7] 4,602,000 [7]
Other revenue                 2,884,000 [6] 2,420,000 [6] 968,000 [6]
Total revenues                 (19,416,000) (46,882,000) (33,606,000)
Expenses                      
Employee compensation and benefits                 2,412,000 5,879,000 11,209,000
Interest and dividends                 26,949,000 [6] 11,798,000 [6] 8,498,000 [6]
Non-compensation expenses - Fixed                 (95,524,000) [6],[8] (95,462,000) [6],[8] (103,181,000) [6],[8]
Non-compensation expenses - Variable                 (30,643,000) [6],[8] (25,275,000) [6],[8] (41,497,000) [6],[8]
Non-compensation expenses                 124,331,000 [6],[8] 119,053,000 [6],[8] 152,722,000 [6],[8]
Goodwill impairment                     7,151,000 [9]
Reimbursement from affiliates                 6,380,000 [7] 5,527,000 [7] 4,602,000 [7]
Total expenses                 33,905,000 21,520,000 39,504,000
Other income (loss)                      
Net gain (losses) on securities, derivatives and other investments                 40,924,000 [6] 55,665,000 [6] 15,128,000 [6]
Bargain purchase gain                     22,244,000 [10]
Total other income (loss)                 49,350,000 60,355,000 38,820,000
Income (loss) before income taxes and non-controlling interests                 (3,971,000) (8,047,000) (34,290,000)
Income tax expense (benefit)                 457,000 [7] 448,000 [7] (20,073,000) [7]
Economic income (loss)/ net income (loss) before non-controlling interests                 (4,428,000) (8,495,000) (14,217,000)
Net income (loss) from discontinued operations, net of tax                     (23,646,000) [11]
(Income) loss attributable to redeemable non-controlling interests in consolidated subsidiaries                 2,534,000 2,179,000 1,290,000
Net income (loss) attributable to Cowen Group, Inc. stockholders                 (1,894,000) (6,316,000) (36,573,000)
Funds Consolidation | Reconciliation from Economic Income/(Loss) to U.S. GAAP
                     
Revenues                      
Investment banking                 0 0 0
Brokerage                 0 0 0
Management fees                 (1,146,000) (1,474,000) (1,809,000)
Incentive income                 0 0 0
Investment Income                 0 0 0
Interest and dividends                 0 0 0
Reimbursement from affiliates                 (99,000) (288,000) (280,000)
Other revenue                 0 0 0
Total revenues                 2,153,000 (1,253,000) (1,340,000)
Expenses                      
Employee compensation and benefits                 0 0 0
Interest and dividends                 0 0 0
Non-compensation expenses - Fixed                 0 0 0
Non-compensation expenses - Variable                 0 0 0
Non-compensation expenses                 0 0 0
Goodwill impairment                     0
Reimbursement from affiliates                 0 0 0
Total expenses                 2,039,000 1,676,000 2,782,000
Other income (loss)                      
Net gain (losses) on securities, derivatives and other investments                 0 0 0
Bargain purchase gain                     0
Total other income (loss)                 2,618,000 2,556,000 2,947,000
Income (loss) before income taxes and non-controlling interests                 2,732,000 (373,000) (1,175,000)
Income tax expense (benefit)                 0 0 0
Economic income (loss)/ net income (loss) before non-controlling interests                 2,732,000 (373,000) (1,175,000)
Net income (loss) from discontinued operations, net of tax                     0
(Income) loss attributable to redeemable non-controlling interests in consolidated subsidiaries                 (2,732,000) 373,000 1,175,000
Net income (loss) attributable to Cowen Group, Inc. stockholders                 0 0 0
Consolidated Funds | Reported Under U.S. GAAP
                     
Revenues                      
Total revenues                 3,398,000 509,000 749,000
Expenses                      
Total expenses                 2,039,000 1,676,000 2,782,000
Other income (loss)                      
Net gain (losses) on securities, derivatives and other investments                 11,044,000 7,246,000 4,395,000
Consolidated Funds | Operating Segments | Reported Under Economic Income/(Loss)
                     
Revenues                      
Total revenues                 0 0 0
Expenses                      
Total expenses                 0 0 0
Other income (loss)                      
Net gain (losses) on securities, derivatives and other investments                 0 0 0
Consolidated Funds | Alternative Investment | Reported Under Economic Income/(Loss)
                     
Revenues                      
Total revenues                 0 0 0
Expenses                      
Total expenses                 0 0 0
Other income (loss)                      
Net gain (losses) on securities, derivatives and other investments                 0 0 0
Consolidated Funds | Broker-Dealer | Reported Under Economic Income/(Loss)
                     
Revenues                      
Total revenues                 0 [1] 0 [2] 0 [3]
Expenses                      
Total expenses                 0 [1] 0 [2] 0 [3]
Other income (loss)                      
Net gain (losses) on securities, derivatives and other investments                 0 [1] 0 [2] 0 [3]
Consolidated Funds | Significant Reconciling Items | Reconciliation from Economic Income/(Loss) to U.S. GAAP
                     
Revenues                      
Total revenues                 0   0
Expenses                      
Total expenses                 0   0
Other income (loss)                      
Net gain (losses) on securities, derivatives and other investments                 8,426,000   1,448,000
Consolidated Funds | Funds Consolidation | Reconciliation from Economic Income/(Loss) to U.S. GAAP
                     
Revenues                      
Total revenues                 3,398,000 509,000 749,000
Expenses                      
Total expenses                 2,039,000 1,676,000 2,782,000
Other income (loss)                      
Net gain (losses) on securities, derivatives and other investments                 2,618,000 2,556,000 2,947,000
Consolidated Funds | Other Adjustments [Member] | Reconciliation from Economic Income/(Loss) to U.S. GAAP
                     
Revenues                      
Total revenues                   0  
Expenses                      
Total expenses                   0  
Other income (loss)                      
Net gain (losses) on securities, derivatives and other investments                   $ 4,690,000  
[1] For the year ended December 31, 2013, the Company has reflected $7.6 million of investment income and related compensation expense of $2.5 million within the broker-dealer segment in proportion to its capital.
[2] For the year ended December 31, 2012, the Company has reflected $10.2 million of investment income and related compensation expense of $3.4 million within the broker-dealer segment in proportion to its capital.
[3] For the year ended December 31, 2011, the Company has reflected $5.6 million of investment income and related compensation expense of $1.8 million within the broker-dealer segment in proportion to its capital.
[4] Economic Income (Loss) recognizes stock borrow/loan activity and other brokerage dividends as brokerage revenue.
[5] Economic Income (Loss) recognizes revenues (i) net of distribution fees paid to agents and (ii) our proportionate share of management and incentive fees of certain real estate operating entities and the activist business.
[6] Economic Income (Loss) recognizes Company income from proprietary trading net of related expenses.
[7] Economic Income (Loss) excludes income taxes as management does not consider this item when evaluating the performance of the segment. Also, reimbursement from affiliates is shown as a reduction of Economic Income expenses, but is included as a part of revenues under US GAAP.
[8] Economic Income (Loss) recognizes the Company's proportionate share of expenses for certain real estate and other operating entities for which the investments are recorded under the equity method of accounting for investments.
[9] Economic Income (Loss) excludes goodwill impairment.
[10] Economic Income (Loss) excludes the bargain purchase gain which resulted from the LaBranche acquisition.
[11] Economic Income (Loss) excludes discontinued operations.