Heartland Payment Systems "residuals" Reviews | Glassdoor

Heartland Payment Systems Employee Reviews about "residuals"

Updated Mar 26, 2020

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3.0
44%
Recommend to a Friend
68%
Approve of CEO
Heartland Payment Systems Chief Executive Officer Jeffrey S. Sloan (no image)
Jeffrey S. Sloan
4 Ratings
Pros
  • "HPS provides incredible business solutions to merchants worldwide (strategically partnered with Global Payment Systems who recently acquired HPS)(in 58 reviews)

  • "Work-life balance is completely controlled by you(in 36 reviews)

Cons
  • "residuals only apply if the clients remain payroll customers, which is very unlikely(in 67 reviews)

  • "Merchants switch providers constantly and you are just another rep(in 57 reviews)

More Pros and Cons

Reviews about "residuals"

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  1. Helpful (7)

    "Don't Be Fooled By The Negative Reviews..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Territory Sales Manager - Payroll in Scottsdale, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Heartland Payment Systems full-time for more than a year

    Pros

    Top producers get rewarded here. If you sell, it is hard to beat the comp plan. Bonuses paid out within a week of the sale, monthly residuals paid out for life of the client, and those monthly residuals get vested and turn into 30X their face value. Work-life balance is completely controlled by you. You set your own schedule and can hit your targets in as little time as you decide, no office you have to "log" into every day. Heartland provides a foundation to sell but you can do whatever you want to obtain the sale and grow your book of business. (*as long as it's legal)

    Cons

    No expense account until you become a TM (Territory Manager). Not a good role if you do not know how to prospect for business.

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    Heartland Payment Systems2019-06-10
  2. Helpful (1)

    "Run, don't walk"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Compensation and Benefits
    • Senior Management
    Former Employee - Relationship Manager in Phoenix, AZ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Heartland Payment Systems full-time for more than a year

    Pros

    Lifetime residuals. Decent health insurance benefits.

    Cons

    No management support. Technology is not current. Behind the competitors. Poor customer service. Extremely high turnover.

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    Heartland Payment Systems2020-03-26
  3. Helpful (4)

    "Don’t walk.... RUN away from this company!!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Payroll Specialist in Dallas, TX
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Heartland Payment Systems full-time for more than 3 years

    Pros

    Work from home, set own schedule

    Cons

    Terribly unstable payroll platform and poorly trained client support team. More concerned with adding new accounts instead of taking care of the ones who are already clients. Management/Leadership is laser focused on numbers instead of addressing sales and client concerns. Don’t drink the Koolaid you are offered during the interview. Even as a seasoned payroll sales rep, it is very difficult to sell a service that is far less robust and stable than its competitors. The “life-time” residuals only apply if the clients remain payroll customers, which is very unlikely.

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    Heartland Payment Systems2020-01-16
  4. Helpful (1)

    "Great comp if you can sell"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Product Senior Advisor in Memphis, TN

    I have been working at Heartland Payment Systems full-time for more than 3 years

    Pros

    If you are a consistent payroll rep, then 50% commission plus residuals is unmatched in the industry

    Cons

    No base salary, so be consistent or starve

    Heartland Payment Systems2019-11-16
  5. "Great company overall for growing your income plus flexible schedule !"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Relationship Manager in Providence, RI
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Heartland Payment Systems full-time for less than a year

    Pros

    Good rewards through comp. plan, residuals, vesting and schedule is your own. Great income growth if able to meet and exceed minimums.

    Cons

    Window for new hires to get momentum to meet targets is steep. Same requirements for new hires and for seasoned sales people. Prior processor sales experience gives an extra head start to success. Already interested potential clients make a difference and an edge for longevity as a sales rep.

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    Heartland Payment Systems2019-08-28
  6. Helpful (37)

    "READ WHAT I WROTE/ KEEP AWAY AS FAR AS POSSIBLE"

    StarStarStarStarStar
    Former Employee - Relationship Manager in Phoenix, AZ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Heartland Payment Systems full-time for more than a year

    Pros

    -You learn for the rest of your life not to take a job that is W2, but 100% commission. Either you go 1099 and you are your own boss, or you are W2 so you do have a boss, but you are paid a salary to have a boss. 2. Good life experience to learn what not to do to yourself.

    Cons

    Do yourself a favor and keep as far away as possible from Heartland as possible. I tried to put together an organized way to summarize to make it easier for you. Things got drastically worse since they got bought out by Global, especially the HR part. All the positive reviews on this website about Heartland are usually from salaried people who get there fix paychecks on time and sit in a nice office. Not from the sales team like I was at. Hiring process: 1. Heartland found a legal loophole: It is 100% commission job, and they do your W2 and tax deductions, but they do not even pay you minimum wage. 2. They are not honest with you when hiring. turnover is so huge, that they have to hire on almost anybody, and they will tell you a beautiful story that is simply not true. 3. You will not succeed unless you have real experience already in merchant services, and a big book of business and connections and a network and a pipeline. They do not tell you that either. 4. One time a hiring supervisor called me from a totally different state to ask about a person who named me as a reference for the job interview. We started talking later on and he told me that while he was a relationship manger, he lost 20 K (20 Thousand) dollars of his savings while his wife was working, until he built enough connections that he was able to start turning things around with his residuals building up. I told him that from now on he should tell that honestly to people who he interviews and hires, that they can expect to lose 20K of their savings before they are able to “turn things around”, as most people just cannot afford that. I was obviously not told that wither when I was hired. On boarding: 1. So you get your offer at Heartland and you are starting on Friday and you quit your old job. You think you have a job??? No!!! for 2 weeks, you are not even legally hired. You need to set up 10 appointments. If you do not manage that, you do not have a job. They don't tell you, but they will send you a 400 dollar check for that 2 weeks either way. 2. My boss was more interested to doing his real estate business than coming to my 10 appointments, super unprofessional. At least they let him go a few months later. Benefits: 1. Benefits only start after 90 days for sales employees, but the regular employees in the offices who are on a nice base salary get it after 30 days. Very very sad.... 2. Sales employees do NOT get short term disability insurance, office employees do 3. not great health insurance anyways 4. When I was there, NO ROTH 401k option was offered, they just changed that recently There Payroll and HR for their employees: 1. - Truly sucks!!!! 2. - I moved so I changed my address in their HR system during my hiring process. But Heartland has a lot of problems with "feeding over data" , if you change your address at one spot in Heartland, don't expect that info to reach Payroll, 401k, or Health insurance providers . etc.. 3. -This "feeding over" is constantly a problem at Heartland. That is also what happened when I signed up for the 401K, and because It did not feed over I lost the employer match of my first eligible paycheck. 4. -Another example was when I never got the email to fill out the direct deposit form and they were sending my checks to the wrong place. The HR department takes weeks to get back with you, simply because payroll and HR is run by Global. 5. - Whole Sales Team has the HIGHEST TURNOVER IN THE INDUSTRY, SO OBVIOUSLY FOR THE PAYROLL HR PEOPLE ARE HARD TO KEEP UP WITH IT 6. - I cancelled my contribution to the Employee Stock Purchase Plan, but they still kept deducting. 7. -In one month they forgot to deduct the Health insurance, instead of fixing that next month they deduct double for the Employee Stock Purchase plan. 8. -Sometimes they expect you to pay business expenses from your own pocket, while you are on 100% commission anyways, no mileage reimbursement!! 9. - CONSTANT CHAOS WITH DIRECT DEPOSIT, HEALTH INSURANCE, 401K and EMPLOYEE STOCK PURCHASE PLAN Daily work: 1. LOT OF SALES PRESSURE WHEN YOU ARE ON 100 % COMMISSION. YOU HAVE A DAILY CALL WITH YOUR BOSS TO TELL HIM WHAT YOU DID THAT DAY. 2.NO LAPTOP OR PHONE PROVIDED, JUST A USELESS TABLET WITHOUT KEYBOARD. They will provide you with a sim card, but of course you have to buy the internet for it. Very sad.. -3.You need to use your own personal computer to get any real work done, cause the tablet provided by Heartland is completely useless. 4. CRM Atlas SUCKS TOO. COMPLETELY USELESS 5. I was told and yelled at multiple times for trying to reach out to fellow coworkers and team members. I was told that I can only talk to management up so to supervisors. So why don’t they want you to talk to others? You can figure that out yourself. 6. THE STRATEGY: They will hire on almost anybody because everybody will close a deal or two. (Family and Friends). After that you will leave Heartland as you are not making money. BUT: Since you are not vested, you will lose the residual income, while your supervisors will keep it and Heartland will keep it too and profit from the account. In worst case they got 10 contacts out of you from your first two weeks. 7. The very few people who are actually making any money will not tell you anything to help. 8. Bosses and those few people who are making it always have this disgusting little smile on their faces on any social event when the team meets, while measuring you up and thinking like “ How long will this guy last?” 9. One time a different supervisor called me from a totally different state to ask about a person who named me as a reference for the job interview. We started talking later on and he told me that while he was a relationship manger, he lost 20 K (20 Thousand) dollars of his savings while his wife was working, until he built enough connections that he was able to start turning things around with his residuals building up. I told him that from now on he should tell that honestly to people who he interviews and hires, that they can expect to lose 20K of their savings before they are able to “turn things around”, as most people just cannot afford that. 10. They have some warm leads, but they do not talk about it. They only give it to the favorite people. There is no set rules or transparency regarding who will receive it and what you need to do to achieving the status of getting leads. 11. The residual of 15% is very low, especially taking into consideration the facts that there is a long vesting period for owning the portfolio, no base salary and no warm leads. 12. The "signing bonus" is more of a loan, since you have to pay it back if they do not process enough. I could write a whole book, just do yourself a favor and keep as far as possible!!!!

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    Heartland Payment Systems2019-04-04
  7. Helpful (10)

    "Stop! Dont Do IT!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Division Manager in Detroit, MI
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Heartland Payment Systems full-time for more than 3 years

    Pros

    Products continue to improve. Diamond Conference is usually really good!

    Cons

    True ups, lack of transparency from company to employees regarding true ups and residuals, in 3 years I had 11 issues with my paycheck. As a former employee they will not communicate with me regarding my vested portfolio.

    Continue reading
    Heartland Payment Systems2019-02-06
  8. Helpful (12)

    "Read your employment agreement carefully"

    StarStarStarStarStar
     
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Heartland Payment Systems

    Pros

    The service center is pretty good but even that has suffered under the Global Payments acquisition of Heartland.

    Cons

    Read your employment agreement carefully. They slip in a 3 to 5 year non-compete/non-solicitation clause. If you are vested when you leave, they will redact your commission reports so you will have no merchant names or account numbers on your report to verify your pay. You will literally be in the dark and receive an ACH in your bank account with no names or account numbers to back it up. This practice started with the original founder of Heartland and has continued to this day. They may even decide to shut off your residuals when you leave their abuse and find another processor to work for so you can provide for your family. The way they treat current salespeople is abhorrent. When you leave it's even worse. Run as fast as you can away from this job. They tout on Linked In that they have never changed their 94 compensation plan. It's a total lie. If you worked at Heartland for any length of time, they changed it constantly by reducing the residual amount for investing in the payroll division, to pay for bank or association relationships or just a plain money grab. If you are selling merchant services for them, they demand that you give leads to the payroll sales reps even if those sales reps have no experience selling payroll. They call it "stronger together". And the same is true for payroll sales reps in the reverse, if you are good at selling payroll, they will demand that you give leads to the merchant services reps even if they too have no experience. It's absolutely awful.

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    Heartland Payment Systems2018-08-19
  9. Helpful (2)

    "Division Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Heartland Payment Systems

    Pros

    Freedom/work life balance, residuals, co-workers

    Cons

    True-ups, 100 percent commission, upper MGMT

    Heartland Payment Systems2018-05-10
  10. Helpful (10)

    "Run!!!!"

    StarStarStarStarStar
    Former Employee - RM 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Heartland Payment Systems full-time for more than 10 years

    Pros

    There are still a few good people that work there, but they are afraid to leave because they’ve been threatened to loose their residuals.

    Cons

    They will promise you “Lifetime Residuals” and I’m telling you that is an absolute LIE!! They will stop or dilinquish the residuals to nothing and give you no explanation. They are so afraid of the competition .......... enough to take someone’s hard earned money to pad their own greedy pockets. Yet the CEO of Global purchased a 17 million dollar condo in Miami as a “vacation home”. Seriously? I guess he needed my $4500 a month. Good thing I sold off what I could before I left.

    Heartland Payment Systems2018-04-16
Found 94 reviews