LendUp Employee Reviews about "pay"

Pros

Co-workers who believe in the company mission Great office location Diverse staff of all different backgrounds

Cons

Low Pay and mid tier benefits No 401 k matching Legal problems akin to Zenefits and LendingClub (CFPB ruling against LendUp cost the company millions of dollars in fines)

Pros

Great pay and benefits for the work.

Cons

Pandemic and other factors compromised stability.

Pros

LendUp is truly a mission aligned company. The people hired at LendUp have all bought into the mission, the values, and genuinely helping people. It is a particularly nice transition for someone not involved in tech, as there is edication, social justice and tech all in one. I enjoyed everyone I worked with.

Cons

Lendup is cheap. I'm not talking series A cheap- I'm talking sometimes needing a LendUp loan cheap. They often promote workers without raises (discussed and confirmed by multiple people), workers openly joke about parents helping them out financially because of the pay... Great company, but you can't expect to keep qualified people there at the current rate. As a previous comment said, perks like chair massages and eatclub will not pay rent. Get that figured out and people won't look elsewhere.

Pros

Just joined the company and am so impressed by my team and the entire organization. It's amazing to see so many passionate people disrupting an entire industry for the better. I love how the focus is on the customers and empowering them with tools that will make them better participants in our socio-economic ecosystem. In a world that is filled with companies constantly screwing people over, and scams it's a breath of fresh air to work for an organization making positive impact in the world!

Cons

The pay is less than what you might find at other companies, but money isn't everything and I'm thankful to work for company that is mission driven and fulfilling.

Pros

The team here is top-notch, and the work environment is great. There’s a lot of competence and mutual respect throughout the team. Everyone is a genuinely nice person, so it's a friendly place. There's also an impressively reasonable work/life balance.

Cons

The pay is reasonable, but lower than you'd get at a large company like Google or Facebook. Also, while you're at the office, you'll be working pretty hard; everyone maintains a fairly intense focus throughout the day.

Pros

Given my last review was voted "most helpful", I wanted to update it after ~1 year at the company for both insiders and potential candidates to get a more transparent look at what's changed since we are a company that is going through rapid change. 1) Still engineering/data driven. This means we focus on building and investing in technology first. There is a reason why we are scaling orders of magnitudes better than big banks! Had a recent hackathon for the first time and talented folks across departments built some really things - servicing tool written in purescript, real-time chat bot, static analysis tools, etc. 2) Our social mission is very clearly the top priority and last say in decision-making. It is really easy to see the passion some of my coworkers have for making a difference in our customers' financial lives. It is personally incredibly rewarding to be working for a company that is making such a huge difference. In 2016, we saved customers an estimated $18.3m dollars (this study is available on our blog) and raised their credit scores by a significant amount. We can't save our customers that much without our business is doing well- we are able to undercut and provide better services than existing lenders, and we choose to do so 3) Transparency- It's clear to me that the executive team and management places a big emphasis on gathering feedback and listening to employees concerns. If you read some our more recent reviews, you may be concerned but Sasha and Jake have addressed and discussed every single one multiple times (will elaborate on this more in the con section) 4) Comp/benefits are getting bumped up as we get more funding! We are more at the median level now but to be more competitive hiring, we should be in the top quartile. 5) Unlimited vacation - people are skeptical of this but it's real and people take advantage of it! Most people I see take the equivalent of a week off per quarter. 6) Diversity and inclusion. The people here really care about diversity and inclusion because they are central to our mission - we are trying to bring in a (huge) group of people that is currently excluded by our financial system. This has led to redefining our company values, renaming all conference rooms after influential women/POC, formation of a Black Lives Matter book club, and employee-initiated volunteering. 7) There has been recent bad press from the CFPB ruling but if you read what the violations actually were, it is amazing we have so few and minor mistakes in such a heavily regulated and scrutinized industry (most of the violations were failure to display certain text disclosures back when LendUp was super young). Heck, even TransUnion and Equifax got slapped with a fine recently and their compliance/legal departments are probably bigger than our whole company. This is no excuse but I can say with integrity that we've never made a product decision that hurts the customer.

Cons

Focus on eng/data means other departments often get overlooked or left behind. This is a general problem in tech, not just at LendUp. Specifically, most of the recent negative reviews have been from folks leaving from our Customer Insights/Account Servicing department. This is incredibly unfortunate- as someone who has worked closely with many of them on a day to day basis I know how valuable their product expertise is. From talking to some insiders, the gist of what happened is we hired an incredibly bright, excited (and overqualified) team at low pay in exchange for career opportunity. The day to day job is mostly account servicing and handling customer calls and through this you get valuable exposure to our users and the product. I've seen many of our CI agents get promoted and moved around into different teams with paths to become data analysts or work in product. There is a LOT of career growth opportunity here but not everyone gets this same opportunity because at the end of the day we still need folks to answer calls and there are a limited number of internal positions open. The result has been high turnover on this team and a decision to outsource most of our servicing to Richmond, VA where it is much cheaper to hire. I still believe the future is bright for the company but it's unfortunate we lost some good people from CI (most left before a year) who left disgruntled and bitter at management.

Pros

Excellent benefits for a start-up - Health, Dental, Vision, Pet, 401K, MWF Catered Lunches Potential room for start-up growth Incredibly fun and intelligent coworkers Excellent mission and values Fun off-site events and happy hours Amazing HR Rep - You'll never meet a sweeter, more kind, helpful, and caring person.

Cons

Angry Customers -Be prepared for this. It's gonna happen, but don't take it personally. Lay-offs - Really messed up here. 5 weeks prior we were told that cut backs would be made, but we didn't have to worry about people losing their jobs and that it wouldn't come out of nowhere. It came out of nowhere. Not cool. Low Pay - This is to be expected. It is a startup, but eliminating Catered lunches would afford people raises. It's always less expensive to prepare your food at home vs. having it ordered and delivered. It was also stated within the past year that, compensation would be evaluated and improved. The improvement was expanding the job position ladder and shuffling around pay, but not much here really happened. If you want to keep your talent, you will eventually have to pay for it. Do not expect to get rich working here. Take the job for the experience, fellowship, and positive mission. Actions the are contrary to the company's mission and values. - While partnering with a company like Walmart does financially benefit LendUp, it is important to remember, that as a company, Walmart is completely contrary to what LendUp stands for. Many people who work for Walmart are on government assistance because the company refuses to pay them a living wage and decent benefits. The result is a workforce that is forever reliant on Walmart's low prices. Partnering with them, does not say much for the integrity of the mission.

Pros

The people. in my nearly 2 years at Lendup I met the most amazing, genuine, and smart people I have ever encountered in my life and truly all my best friends are people that I met during my time at Lendup. For an early career job, the benefits are good, lunches were cool, more so in idea than practice, and things like offsite's made it feel like a startup.

Cons

Have been wanting to write this for a long time and really didn't even want to invest another minute of emotion or time into this company, but after recent events, feel its necessary to share, so i'll keep it as short as possible: Embarrassing low pay-like fastfood worker low. This was brought up as an area of concern for employees so many times, and the literal answer one time was 'lower your expectations' No growth- the classic 'you're good, now do more, with no extra pay, appreciation, or chance of promotion' Inconsistent- had 3 managers in less than 2 years, and metrics changed constantly, yet everyone was told they weren't doing enough, only minutes after the manager said 'these metrics are new, we aren't even really sure what we are measuring' , but somehow, you still aren't meeting expectations. Really any excuse not to give you the small bonus that comes with a good review. Favoritism- the loudest yes men in the room got promotions over the hardworking, diligent, smart, and capable one's. At times you would think you were in an episode of the twilight zone, wondering how management could be so blind. Ironic thing is, all those people either quit shortly after, or were recently laid off. And the ones that awarded the promotions quit after 6 months or were laid off too. And when i say promotion, I mean an extra $1.50 an hour. Technology here is so broken that it regularly created compliance issues, and droves of angry customers,who honestly had every right to be angry and perceive lendup as no different than any shady payday lender. This made the mission null, and not tangible in any way, gave you no sense of accomplishment or joy doing the work. To top it all off, as I was leaving Lendup, I was accused by upper management of attempting to 'poach' simply because I was ecstatic about a new job opportunity I was pursuing, one with a livable wage. I'll make it as simple as possible- the extortion of cheap labor from desperate college graduates under the guise of 'opportunity' is what is driving people away, not the loyal and hardworking employees that had the foresight to get off a sinking ship for a better opportunity. Oh, and yeah the layoffs, that's really whats driving people away. Sad thing is, now there are going to be about 20 people looking for work, who probably couldn't save much at $15 an hour, but those that mismanaged this whole debacle have the job security, and i'm sure will be getting raises soon. Overall, job poorly done, and its now showing to people outside of the company. Sad to see things take such a sharp downward turn, but honestly can't say i'm surprised.

Pros

free lunch, good benefits, some of the people are cool

Cons

This is a good place to work at if you have just graduated college and want customer service experience without dealing with customers face-to-face. Yes, you're going to have a headset on for 8 hours per day and get screamed at for low pay, but it beats fast food. But in the end, this will always be a call center job and thats all its ever going to be and if you think otherwise you're kidding yourself.I plan on getting out of here asap and finding something that pays better, because the low pay is another con.