Elevate Credit Reviews | Glassdoor

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Elevate Credit Reviews

Updated February 21, 2018
71 reviews

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3.8
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Elevate Credit CEO Ken Rees
Ken Rees
47 Ratings

71 Employee Reviews

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Pros
  • Daily Free breakfast , subsidized lunch, company sponsored happy hours which helps to mingle with co-workers (in 15 reviews)

  • Fast-paced growing company, large opportunity for career growth (in 12 reviews)

Cons
  • Since it is so fast paced sometimes deadlines cause workers to rush unnecessarily (in 7 reviews)

  • Long term strategy is also very inconsistent and changes based on whatever ideas he read most recently in a business book or heard at a conference (in 2 reviews)

More Pros and Cons

  1. Featured Review

    "Great Company, Great Culture, Bright Future"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager, Contact Center Vendor Operations in Fort Worth, TX
    Current Employee - Manager, Contact Center Vendor Operations in Fort Worth, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Elevate Credit full-time (More than a year)

    Pros

    Elevate does a fantastic job in it's hiring process to hire candidates that fit our values. I see people truly living our values every day which focus highly on integrity and providing the best possible experience for our customers. I see people rewarded and recognized for hard work. There is a lot of opportunity with the growth of the company and the benefits are on the high end of what I have seen at other companies with some unique ones added in for 5 and 10 year anniversaries, employee stock stock purchase options, and even fun things like a free bike for all employees.

    Cons

    There are not many. You do have to be someone that is good with change and adapts quickly. We have a fast paced culture and move quickly to implement changes we think will help our customers and our business. It sometimes means things happening with little communication. If you like steady and easy with little change Elevate is not for you. We are fast paced and need to be easily adaptable to change.

    Advice to Management

    Keep the open and candid communication open as you have. Even with the IPO and limited info that can be shared I think you are doing great at keeping us in the loop on how the company is doing.


  2. "Software Developer"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Overall Elevate is a good company to work for.

    Cons

    I don't have anything so far.

  3. "agent"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Agent in Arlington, TX
    Former Employee - Agent in Arlington, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Elevate Credit part-time (More than 3 years)

    Pros

    easy job to learn, no pressure

    Cons

    long hours sitting on the phone

    Advice to Management

    keep up the good work.


  4. Helpful (1)

    "Not a great place to work, but really could be."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Risk Management
    Current Employee - Risk Management
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Elevate Credit full-time (More than 5 years)

    Pros

    Brilliant People working on tough problems - Some of the brightest and most incredibly talented minds in credit/finance. The company works in an industry that's highly regulated and competitive, but really have an outstanding talent force behind it that makes it an incredible place to work/learn if you end up in the data and risk organizations.

    Great Mission - Providing financial and credit options to a part of the population that would otherwise have no options is truly a rewarding mission.

    Extra Perks - To name a few...
    - Industry above-average pay
    - Employee stock purchase program
    - Instant vesting of 401k
    - Free $500 bike credit
    - Free breakfast (yogurt, granola, fruit)
    - Free happy hours on Fridays (booze, chips, and pretzels)
    - Subsidized mediocre lunch

    Cons

    Contentious Industry - Be prepared to enter an industry where you are perceived to be a predatory lender that's often attacked by legislative and economic forums. You will be known as "legal loan sharks." As long as you're comfortable with that title, you're all set!

    Sinking ship - there's a reason why the stock price for this company opened low, and stayed low.There are many competitors in this arena: including companies like Marcus backed by Goldman Sachs, Avant, etc. who can all eat Elevate's lunch if they decided to open the APR rates they want to underwrite to.

    It is getting worse -- The attrition rate for a company in this industry (technology/finance) is literally 2x - 3x that of competitors. That should tell you everything you need to know. Additionally, the ratings for the company has been declining over the past year on glassdoor... red flag

    True colors show in unethical employee treatment practices - The company prides itself on doing the right thing, but being with the company for over 3 years I can say that they don't share the same standard they do with employees that they have for customers. I had people tell me their managers discriminated against them because they didn't speak english well, I've seen employees cry in the restroom because of stress, I've seen people given <24 hours notice before being a lay-off/firing, literally every quarter you wake up after the end and find a bunch of your friends are gone because they were fired. Nobody is safe! Every position from the CCO to frontline paralegal has been fired or conveniently "resigned without saying goodbye"... I would call it a joke if it wasn't so emotionally stressful.

    Advice to Management

    Learn to treat your employees like the humans that gave years to company and helped it grow.-- You're not one of the great places to work (no matter how much you pay for that title each year), but you could be. You're no longer working in a cave against pawn shops and loan sharks. You're competing for talent and resources from some of the best technology companies in the world. Act like it.


  5. "Casual atmosphere, interesting co-workers, great workplace"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Elevate Credit full-time

    Pros

    No dress code, free breakfast, $4 lunches three times a week, work from home policy, good retirement plan options, and discounted snacks in the break rooms.

    Cons

    There is a monthly fee to use the in-building gym and no formal training for young leaders.


  6. "Employees are human after all"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Addison, TX
    Current Employee - Anonymous Employee in Addison, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Elevate Credit full-time (More than a year)

    Pros

    Expectations are reasonable, processes and policies exist and are also reasonable.

    Cons

    some amount of cliquish mentality exists - especially between the two main locations - Fort Worth and Addison

    Advice to Management

    Encourage more dialog among employees. There is still an abundance of hierarchy and a reluctance to talk directly with those that you don't interact with regularly.


  7. "Data Scientist"

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

    I worked at Elevate Credit full-time

    Pros

    High Tech, Working time flexibility

    Cons

    Working environment is not pleasant. Employees need to share desks.

  8. "Great place to work!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Service Recovery Analyst in Fort Worth, TX
    Current Employee - Service Recovery Analyst in Fort Worth, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Elevate Credit full-time (More than a year)

    Pros

    Open environment, very casual dress, free breakfast daily (yogurt, cereal, fruit), discount lunch ($4.00) program 3-days per week, competitive pay, semi-annual bonus, very open door policy, Friday afternoon happy hour every other week (keg of craft beer and selection of appetizers and wine), opportunity to occasionally work from home, good benefits (great dental plan, start with 20 PTO days), medical is fine, but perhaps a bit on the expensive side, free disability, both long and short term. . I have probably missed some benefits, but there are a lot.

    Cons

    With all the PRO that is provided, it is only possibly to hold over 40 hours from one year to the next.

    Advice to Management

    My only change would be to be able to carry over 80 hours instead of 40 hours of PTO from one year to the next


  9. Helpful (5)

    "Don't believe the HR spin -- Elevate is not a great place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Elevate Credit full-time

    Pros

    The benefit package is pretty good, particularly the 401(k) match and ESPP. Salaries can be good but are extremely negotiable as the pay bands are big. Lots of market opportunity as big banks are still reluctant to touch subprime lending. Co-workers are generally very smart, particularly in analytical and statistical roles.

    Cons

    Elevate was by far the most political work environment I've ever experienced. Key decisions about personnel that get promoted and put on good projects are determined by friendship with upper management rather than competence. As a result, the same projects have been lingering for years and have not been completed. There is also no performance calibration which leads to massive gaps between capable and not capable teams. HR has attempted to fix this by trying to implement company-wide performance management policies but these policies are overruled whenever HR or top executives decide they don't want to play by these rules.

    Also, much more investment in "bells and whistles" than in the company itself or the employees.

    CEO also does not seem to understand the company and industry very well as evidenced by the flop of the IPO and having goals that are completely unachieveable. Long term strategy is also very inconsistent and changes based on whatever ideas he read most recently in a business book or heard at a conference.

    All of this is a shame since there is a lot of talent at the company and there is a great market opportunity for Elevate's products but they are really held back by leadership and by HR.

    Advice to Management

    Step out of the processes that you have in place for employee to give feedback. Have third parties administer surveys and focus groups rather than having HR and department leaders in the room; this just encourages people to be less than forthcoming about their feelings.

    Also, give people besides the same "top performers" over and over again the opportunity to work on key projects. You might actually learn or innovate something.


  10. "My first year at Elevate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager in Fort Worth, TX
    Current Employee - Manager in Fort Worth, TX
    Recommends
    Positive Outlook

    I have been working at Elevate Credit full-time (More than a year)

    Pros

    High employee morale; empowerment to think big; competitive salaries and bonus structure; frequent employee and family focused events; ability to connect directly to key executive decision makers;

    Cons

    No specific sick time allowance- part of overall paid time off; monthly accrual for time off;

    Advice to Management

    revisit some of the paid time off policies


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