Pros
Engineers at the company have opportunities to work on challenges related to optics, thermodynamics, and 3D algorithms. This can be quite fun and educational. Engaged employees have the potential to make a meaningful impact on the products. The relatively short product lifecycle allows engineers to see projects progress from concept to production within a couple of years. This fast-paced environment fosters skill development and domain expertise in hardware and software design more quickly than in most other workplaces. Formlabs provides reasonable compensation for its most valuable employees and decent healthcare benefits across the board. I have had good experiences taking PTO, and my high performance has often been rewarded with opportunities to travel and participate in conferences. In response to retention challenges, the company has recently increased my compensation significantly. Many younger employees appreciate the sense of community at Formlabs and often participate in social activities with colleagues outside of work. Proximity to MIT provides resourceful employees with plenty of opportunities to attend events and connect with the larger tech community.
Cons
Despite the company's efforts, relatively few highly profitable and scalable applications for 3D printers have emerged. The most lucrative applications, such as digital dentistry, are competitive markets. These industry dynamics influence both wages and career growth opportunities at Formlabs and within the broader digital manufacturing sector. High turnover has led to challenges in retaining institutional knowledge. Staffing continuity between programs has been a persistent issue, impacting long-term momentum. Retirement savings benefits are poor. There is no 401k matching and the company's 401k offering charges very high fees (the provider charges ~1% AUM to be invest your money in Vanguard target date funds!?). This ugly arrangement effectively lowers engineers compensation, because they must choose between a higher W2 tax burden and paying out these onerous fees to a poor quality financial services company. The stock option grants are illiquid and there isn't a strong secondary market for them (as of time of writing). The cost of living index for the Boston area is extremely high. Saving money while working at formlabs can require some asceticism.