LendingClub Reviews
Updated May 2, 2021
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Approve of CEO
Scott Sanborn
299 Ratings
Pros
"Also, did I mentioned FREE SNACKS" (in 57 reviews)
"Great benefits for full time employees" (in 48 reviews)
Cons
"Here is the story that many at LC now are piecing together - the way" (in 24 reviews)
"Upper management doesn't care about operations" (in 18 reviews)
Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.
Ratings by Demographics
This rating reflects the overall rating of LendingClub and is not affected by filters.
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- Current Employee, more than 1 year★★★★★Featured Review
Pros
Excellent environment to cultivate collaboration and innovation. I've never met a more excited group of people, so passionate about the company's mission. I'd recommend 100%
Cons
Work from home has been a change, but I wouldn't say it's a con.
- Current Employee, more than 3 years★★★★★
Pros
Great job, good benefits, company attitude
Cons
Where to go from here
- Current Employee, more than 3 years★★★★★
Pros
Bank acquisition is complete, pandemic is behind us. This paves the way for better profitability and growth. Having been here for almost 3 years, I've never felt more positive about LC's future. Exec leadership is top notch, and are very transparent about where the company is in its path. The combination of marketplace lender + bank really opens up all kinds of possibilities that didn't exist before. Workplace is pretty laid back, but most folks are pretty smart, hard working. I rarely work more than 40-50 hours in a week, and the comp is really competititve -- especially with the stock price on the rise.
Cons
Company is in the process of becoming a grown-up bank, and is learning hard lessons about the importance of documented and followed processes, a culture of compliance. The upside: if you're someone who is given to implementing processes, and can execute effectively, you'll find a welcome home here. If you're a lone wolf or a cowboy, you're probably not going to be happy with the direction the company is going right now.
Continue reading - Former Employee, more than 1 year★★★★★
Pros
I'm rating this from the perspective of an engineer that left LC back in 2020. Great people, you'll love everyone. They really are great. Decent Pay, def not top of market but decent for Sr, Lead, Principal, Architect + levels. Company perks were nice pre covid. Managers were, maybe still are spectacular. I liked almost every engineering manager I've met. They are, were, really great.
Cons
Unfortunately, most of the talented engineers & leaders have already left the company. Seriously, not exaggerating, my tenure was peppered with monthly goodbyes from great people. Since I started, I counted 73 of my working piers leaving the company since starting. Not because of dire situations but because they could be doing more elsewhere... And that leads me to my next point: If you join as an engineer, you'll most likely join a team with little documentation with no seniority on the project. Be prepared if you do you'll be managing the plumbing more than writing new features. Vertically, engineering leadership is now lacking (although there are still great managers). At the C & VP level, engineering leadership in building a great engineering culture does not exist anymore. It's really in maintenance mode since covid started and I hope that now as a bank, LC sees the inevitable and either does what other banks do and hires all engineering offshore to do the core lifting (super unlikelyy)... or 2... actually innovate. Innovation at LC was becoming a bank when I was there because honestly, peer to peer lending failed. What will the next evolution at LC bring? I think unless leadership is serious about innovation, of which all evidence suggests otherwise, I wouldn't recommend joining the company anytime soon.
- Current Employee, more than 1 year★★★★★
Pros
Paid Time Off is pretty competitive compared to other companies I've worked at in the state. I'm empowered to speak my mind when a new task is brought to my dock. Compensation is competitive for the area. Work is extremely fulfilling if you're into problem solving and troubleshooting. There are new challenges daily that feel rewarding when they've been tackled. When a tough issue is fixed, your coworkers will celebrate with you. Management does seem to care about employee wellbeing. Employee safety is a huge priority. There is a diverse company culture that is supported and celebrated.
Cons
Management will play favorites. Little to no upward movement. Company activities/ events/ meetings are not geared toward operations teams. Information can be difficult to locate. Although there has been great progress in accessibility of company policies, there is still a heavy dependency on tribal knowledge. With the current work from home environment, this can make obtaining and retaining updated information difficult. Sometimes changes happen to a process and you have to hunt for information on how to proceed.
Continue reading - Current Employee, more than 1 year★★★★★
Pros
Nice people and good benefits
Cons
Management isn't always on the same page
- Former Employee, more than 8 years★★★★★
Pros
Awesome people, great culture, values hard work
Cons
None that I can think of
- Current Employee, more than 1 year★★★★★
Pros
Great pay Great time off policies Great incentives
Cons
Only full time available right now
Continue reading - Current Employee, less than 1 year★★★★★
Pros
Good people, lots of down time, great for career growth
Cons
A lot of angry customers
- Current Employee, less than 1 year★★★★★
Pros
Everything is well organized and I learned a lot.
Cons
Nothing! They handle everything really well.
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