Efinancial

  www.efinancial.com
  www.efinancial.com

Efinancial Reviews in Seattle, WA

Updated October 13, 2014
Updated October 13, 2014
55 Reviews
2.7
55 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
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Michael Rowell
15 Ratings

Review Highlights

Pros
  • great co-workers and staff, fun environment, (in 4 reviews)

  • Fun culture and positive work environment (in 5 reviews)


Cons
  • You have to pay for parking, or walk, and this is Eastgate, not downtown Bellevue, or downtown Seattle (in 4 reviews)

  • There were some guys that used to make money like that but they were all forced out or quit (in 3 reviews)

More Highlights

33 Employee Reviews Back to all reviews

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  1.  

    Insurance sales - great experience - not for everyone

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Account Executive in Bellevue, WA
    Former Employee - Account Executive in Bellevue, WA

    I worked at Efinancial full-time (more than an year)

    Pros

    This is great experience if you are looking to get into insurance sales (especially life insurance). The leads are provided (albeit some are much better than others, and which ones you get depends on how well you produce). The work environment is very laid back and friendly. The people I got to work with was the most satisfying aspect of the job. The work week was regular, with overtime paid if you decided to work weekends. They also pay for your nationwide licenses and licensing exams which is rare in the insurance industry.

    Cons

    There is a lack of transparency in upper management. Working hard does not always guarantee that you will make more money as leads are controlled. Although you will be able to obtain appointments with various companies, you are pushed to sell the products of the parent company, which seems to contradict the fact that you are, in essence a broker.

    Advice to ManagementAdvice

    Invest in your agents, they are the lifeblood of your company. While you undoubtedly boast some of the best technology in the insurance industry, high turnover and disgruntled employees does not bode well for the future. Make your compensation structure more easy to understand. When you ask your manager why you aren't getting paid and they don't know the answer, that is very bad for morale.

    Recommends
    Neutral Outlook
    No opinion of CEO
  2.  

    Account Executive

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Account Executive in Bellevue, WA
    Former Employee - Account Executive in Bellevue, WA

    I worked at Efinancial full-time (more than an year)

    Pros

    Efinancial generates all their leads, no head hunting, coworkers are great people, easy way to start a career in sales

    Cons

    you'll be guilted into working saturdays, lots of turnover. the average agent lasts a year before he quits or is laidoff. easy to get burnt out, job is very repetitive. Pay is not great, management incentives are lame and extremely patronizing - for example, for closing a sale a manger might occasionally offer you $5 or a 5 hour energy...great thanks. sales reps are constantly monitored and treated like guiney pigs - they used to turn the lights off in the sales floor and make us work in the dark to see if sales would increase. no joke.

    Advice to ManagementAdvice

    upper management should say hello every now and then. show your reps you care. provide some actual incentives or wages if you want your agents to perform. a 5 hour energy is not going to make us work harder.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3.  

    Efin is a very deceptive company, especially with their sales team!!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Account Executive in Bellevue, WA
    Former Employee - Senior Account Executive in Bellevue, WA

    I worked at Efinancial full-time (more than an year)

    Pros

    -Decent Pay
    -Good Co-Workers
    -Good home/work life balance

    Cons

    -There's always a discrepancy between what you should be paid in commissions and what you actually get paid
    -Most managers are horrible and barely know their jobs
    -Horrible incentives
    -They change commissions structures at the drop of a dime which always results in less money in your pocket
    -I was a top producer at Efin, 2nd in the office, and I still was only close to hitting 100k. So, don't fall for the average agent makes 70-80k line they try to tell you. That's a complete hyperbole
    -Micromanagement

    Advice to ManagementAdvice

    Bring back good incentives and infuse the office with more fun activities!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5.  

    Went downhill tremendously over last 2 years

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Account Executive in Seattle, WA
    Former Employee - Senior Account Executive in Seattle, WA

    I worked at Efinancial full-time

    Pros

    Good people on the sales floor, at least when I left a few months ago but I've heard even more has changed since then.

    Cons

    Just about everything now. USED TO BE great environment, great pay with lots of cash bonuses/prizes, good community with morning meetings every day, ping pong table, people encouraged to have fun and socialize as long as they got their work done. NOW its a micromanaged mess where you can't even go to the bathroom without being timed on your computer. Everyone was always paranoid they could be losing their job, no one was happy. They changed the comp plan so pay decreased for pretty much everyone, and no more cash bonuses. Lead quality went downhill - plus the leads are NOT distributed randomly by the dialer, so sometimes you can be hot and often times your not. Many people have been fired/quit this year because of all these changes.
    Little to no room for growth, but that was expected.

    Advice to ManagementAdvice

    Get it together!! Think about the employees...get morale back on track. Buy better leads and offer more incentives so people want to work harder while at the same time CAN work harder because there are decent leads to work on. Stop micromanaging employees every move, allow more freedom, and I bet you'll see they will work harder during the hours they are grinding.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  6.  

    Great company if you're in sales

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

    I worked at Efinancial full-time (more than 3 years)

    Pros

    Professional but fun and somewhat laid back atmosphere. This is a job you can leave at the office when you clock out at the end of the day, which is always a plus. They host some fun activities and employee events which are always appreciated. Most management has a very liberal open-door policy and if they're in the office and not in a meeting. They treat their sales department very well with contests and incentives. They do offer room for growth, though it is limited in most areas and non-existent in a few.

    Cons

    If you don't work in sales you're considered to be the bottom of the heap and don't get the opportunity to earn any rewards. In sales they encourage and defend questionable and sometimes illegal sales practices which is even worse when you consider they're selling people life insurance and they may not realize they were duped until after they've paid or, worse, until their family needs to collect and can't. The other departments are rarely recognized for the work they do to help those sales agents meet their goals and they can put up with a lot of abuse. The benefit package is horrible, especially if you have a family as the amount you'll pay per paycheck will more than quadruple if you want to cover a spouse or a child (god forbid your whole family). Some departments could use more attention, more resources and more organization.

    Advice to ManagementAdvice

    Keep the open-door policy - it's nice to work for a company where you not only know the name of the higher-ups, but they know you. Make your sales department uphold the company's Core Values - it's not fair that they're not always held to the same ethical standards as other departments within the company. Consider a more family-friendly benefits package - all of your employees aren't young, single people without any obligations.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  7.  

    Inconsistent management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Case Manager in Bellevue, WA
    Former Employee - Case Manager in Bellevue, WA

    I worked at Efinancial full-time (less than an year)

    Pros

    as long as you are meeting your numbers the managers leave you alone

    Cons

    Managers are not open to feedback. So much that employees are afraid to come to them with concerns. the managers seem like they don't care about their employees.

    Advice to ManagementAdvice

    Try to actually manage your employees! Get involved with your staff to try to develop your employees. Also, going home 4 hours early every day makes you look lazy.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  8.  

    Tough place to start

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Business Development Representative in Bellevue, WA
    Former Employee - Business Development Representative in Bellevue, WA

    I worked at Efinancial full-time (less than an year)

    Pros

    Pay is decent, employees are young and friendly, some managers are cool

    Cons

    upper management has no idea what they are doing, rarely a chance to get promoted and there is only one step above BDR position, benefits are not great at all

    Advice to ManagementAdvice

    actually train your employees to become better salesman instead of just leaving them out there with no clue what to do

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  9. 1 person found this helpful  

    There's a reason they have annual turnover of about 90%

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Salesperson in Bellevue, WA
    Former Employee - Salesperson in Bellevue, WA

    I worked at Efinancial full-time (less than an year)

    Pros

    In the trenches so much with your coworkers so long that you develop great friendships.

    Wages are 'ok' if you are 22 years old with no college education.
    Lots of pump up music and free redbull to keep your BP in the red.
    Never a lack of management keep an eye on your every move, every call, every bathroom break.

    Cons

    Since merger, fun and higher wages have been sucked out the room.
    Management plays favorites, lies about not playing favorites.
    Dependent on leads they give you and not all leads are created equal.
    Kept in the dark and treated poorly.

    Advice to ManagementAdvice

    Have CEO make eye contact with sales employees maybe once in a while.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  10.  

    difficult right now to get promoted

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - BDR in Bellevue, WA
    Current Employee - BDR in Bellevue, WA

    I have been working at Efinancial full-time (less than an year)

    Pros

    Friendly co workers. Little supervision if your hitting your numbers.

    Cons

    Freeze currently. Difficult to get promoted right now..so little mobility currently. Start in the BDR role, and even if you surpass your quotas, you will be stuck in this position for a long time currently as there seems to be a freeze currently to be promoted to agent, BDR role will break you down after a few months.

    Advice to ManagementAdvice

    Be more honest and up front with new potential hires.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11.  

    Micromanaged

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

    I worked at Efinancial full-time (more than 3 years)

    Pros

    Great phone training, tough to beat especially if its your job

    Cons

    The managers are awful, watch out

    Advice to ManagementAdvice

    Lighten up

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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