FedBid

  www.fedbid.com
  www.fedbid.com
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8 people found this helpful  

A fine place to start, just don't look to stay

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Account Manager in Vienna, VA
Current Employee - Account Manager in Vienna, VA

I have been working at FedBid full-time (more than an year)

Pros

-A good place to start out, especially for recent college grads
-A fairly young company overall, which means lots of opportunities to form a community, especially if you're coming from somewhere outside of DC
-Because most of the employees are new grads, upper management is fairly good about gently grooming good employee behavior, dress, professionalism, etc.
-High turnover rate means plenty of opportunities to move up within the company as far as Director

Cons

-Upper management, particularly those about a director level, turn over quickly, and typically have no idea how the company is run or what most of the positions do.
-Huge amount of nepotism, most upper management is somehow related to the CEO
-High rate of turn over means that company is constantly finding new directions and initiatives, throwing tons of money and resources at them, and then completely neglecting them three months later when the CEO and the newest upper management employee have a falling out
-Employees in general, and particularly interns are treated as a disposable commodity, easily hired, poorly trained and developed, easily fired and easily replaced
-CEO seems to take a similar easy come, easy go attitude toward investors, making for a less than optimal company outlook
-Pay is below market value for anyone up to middle management, however upper management will consistently make ostentatious remarks regarding their higher than market value salaries and lifestyles
-Employees are not given any stake in the work or chance of reward based in performance (the company says it offers performance bonuses for the sales team, but in the two+ years I worked here, I only saw 2 people ever get these bonuses, and even then they were payed less than promised. There is no such reward system in place for any other teams in the company)
-Huge culture of look like you're working harder with no rewards, and in some instances penalties, for working smarter

Advice to ManagementAdvice

- While there are several recommendations that one could make regarding improving the office culture and company, the current CEO has a long history of simply firing anyone who does not immediately fall in line with the current culture. As such, I don't see much hope of improvement as long as he and his family remain in charge of the company

Doesn't Recommend
Negative Outlook
Disapproves of CEO

68 Other Employee Reviews for FedBid (View Most Recent)

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  1. 1 person found this helpful  

    Job was mediocre. Turnover was high.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Marketplace Intern in Vienna, VA
    Former Employee - Marketplace Intern in Vienna, VA

    I worked at FedBid as an intern (less than an year)

    Pros

    As a young professional, there are many coworkers my age that can relate to me. The job description was not stressful or very difficult.

    Cons

    Salaries were not as high as some may like. Some of the work was redundant and was hard to see what purpose it served.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2. 9 people found this helpful  

    Work here for a year then get out.

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

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

    Pros

    Fun, young workforce. Most FedBidders are hired right out of undergrad, and the company sponsors happy hours, soccer teams, and other outings to keep things fun. It's an easy way to make new friends, especially if you are new to the DC area.

    Lots of food, game room, casual dress code on Fridays and throughout September.

    Outside of "busy season" (July-September), the hours are reasonable.

    You'll learn some basics that will serve you well in any job- excel/data analysis, power point deck creation, how to talk to clients and "sellers".

    FedBid micromanages everyone- your professional deficiencies and any issues with appearance or culture will be pointed out to you immediately. The "pro" of this is that if you are right out of college, and choose to act on feedback (aka keep your job), then you're setting a good stage and habits for the rest of your career.

    Rapid promotion is possible, so you could have Director on your resume by age 25. Don't expect salary to correlate though.

    Cons

    "Creative tension" and the constant focus on sales leads to an unstable work environment with a lot of back stabbing.

    People are promoted very fast, and not given the tools or training to succeed at their next level. When you have a bunch of 25 year olds managing 22 year olds, and the managers haven't had any training on how to manage nor good role models (re: VPs and Directors) to learn from, you have a recipe for disaster. One manager told me how to wear my hair. A lot of the managers are threatened by their employees (they are the same age), and backstab or sabotage their employees to save face. That's part of the "creative tension" and "virtues of a tense work environment" that the CEO likes to tout in interviews. HR is useless in fixing these issues- but, HR can't act on anything if the executives refuse to take action.

    I saw senior management do things or recommend things to clients that I thought were inappropriate or unethical. Yes, it's important to sell- but I left FedBid for a consulting firm, and I don't see any of these shenanigans in consulting.

    The entry-level pay is very low, especially considering the DC area and the work required. One of the SVPs would go around saying "Money never sleeps" and VPs would laugh about the fee revenue generated by "clicks" on a daily basis. When your employees are making $35k in DC, they clearly aren't seeing a dime of your bonus revenue. Raise salaries across the board or learn to be more appropriate.

    The market specialists and even account managers are not seen as individuals. When I first started and introduced myself to a Sr AM, she said "oh another MS. You all multiply like rabbits". Because you're a number, don't expect additional bonuses or support for your development.

    At a higher level, VPs come through here so fast and are let go if they don't sell a new client instantly. The CEO can't stand to stick with one strategy long enough for it to be effective. Also, as a private company, FedBid doesn't have to disclose its financials and they are incredibly secretive about their financial situation. When a company lays off 20% of its employees every year, and is secretive about finances, people are going to be really nervous all the time.

    Advice to ManagementAdvice

    My best advice would be to replace Ali Sadaat. He drives good VPs and even Presidents out of the company if they disagree with him or don't sell fast enough. Spends his time monitoring employee's emails instead of running the company.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
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