LendingClub Reviews | Glassdoor

LendingClub Reviews

Updated September 21, 2017
274 reviews

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3.3
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LendingClub President and CEO Scott Sanborn
Scott Sanborn
90 Ratings

274 Employee Reviews

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Pros
  • In most teams, work life balance is good (in 17 reviews)

  • Free snacks, Gourmet coffee bar, Onsite gym, massage, etc (in 24 reviews)

Cons
  • There are some growing pains with the pace of hiring (in 11 reviews)

  • Upper Management only think about themselves and not about their workers (in 8 reviews)

More Pros and Cons

  1. Featured Review

    "Great company with a bright future"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Director in San Francisco, CA
    Current Employee - Senior Director in San Francisco, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at LendingClub full-time (More than 3 years)

    Pros

    - LendingClub is a great place to work. I've worked at the company for 3+ years and every day is new, unique, challenging and interesting. I'm able to be creative on a daily basis. Great ideas can come from anywhere -- not just from the top. To me, LendingClub is a hybrid between a startup and a more established company, which means there is some structure but also lots of ability to think outside the box.
    - The company is full of talented people who are willing to pull together to get work done, no matter their title or job description. Employees are dedicated to changing the way that people borrow and invest.
    - It's also family friendly -- I had my first child 2 years ago while working at the company, and am expecting my second now. The company has consistently and actively asked for my (and others moms') feedback on how to make LendingClub a great place for working moms. Just in the last few months, they've increased their maternity leave policy, added new nursing rooms, and added a phased return to work program to help moms transition back after their leave. Pretty awesome.

    Cons

    - You need to be adaptable at LendingClub. The company is great for creative, flexible thinkers; it's much harder if you can't handle ambiguity.

    Advice to Management

    Keep looking ahead! There's so much opportunity right around the corner.


  2. "Good company to work for"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in San Francisco, CA
    Former Employee - Anonymous Employee in San Francisco, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at LendingClub (More than a year)

    Pros

    Great perks, awesome executive team, good location.

    Cons

    Not a ton of clarity around potential career path, low salary compared to market.

    Advice to Management

    Company is starting to feel much more like financial services than tech.

  3. Helpful (1)

    "Member Support Agent"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Member Support Agent in San Francisco, CA
    Former Employee - Member Support Agent in San Francisco, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at LendingClub full-time (More than a year)

    Pros

    Great energy working at this company! It's an excellent job for a recent college graduate or for someone looking to transition into the corporate world. If you perform well in your first 6 months - year, you can pick a career path into a variety of different departments. I learned so much working here, and the support from management is amazing. Great benefits, great location.

    Cons

    Your first couple months can be tough because there's a lot of information to retain, and it can be difficult getting the hang of being on the phone, but you are trained well and you become a product expert in no time.

    Advice to Management

    Sometimes there can be a lack of clarity for purpose behind things. However, you gain more insight the longer you stay with the company.


  4. Helpful (1)

    "Overview"

    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 LendingClub full-time

    Pros

    Stock options, great perks, casual work environment.

    Cons

    lack of lateral movement within company, bad mentor-ship

    Advice to Management

    Just because one is knowledgeable does not mean one can lead and develop others.


  5. Helpful (3)

    "Not a very sound business model"

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

    I have been working at LendingClub full-time (Less than a year)

    Pros

    Good work life balance and technology

    Cons

    Most decisions only made at C level. Heavy top level management.


  6. Helpful (4)

    "Member Support Representative"

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

    I have been working at LendingClub full-time

    Pros

    The people here are genuinely nice. A lot of people in this department are young and the culture is generally very positive and open when it comes to networking within your department. There are free snacks and drinks on every floor, as well as plenty of benefits and perks (happy hours, massages, free gym, fitness incentives).

    Cons

    Management makes it seem as though the position offers a fair amount of flexibility, when in reality, you're pretty much chained to the phone from your assigned 8-5 or 6-3 shift, M-F (and sometimes Saturday). They'll tell you that they want you to get the chance to take a break, but if you don't stick to your schedule perfectly, you'll be docked for it, since they want you on the phones to serve as many customers as possible. They also tell you there's plenty of opportunity to grow and take on different roles in the company, when realistically, there's only room to grow within the Operations department.

    Advice to Management

    There's a high turnover rate for a reason. Think about what you're asking of your employees -- do you want them to value your customers and provide them with high quality service (even if it takes more than 5 minutes!), or do you want them to get customers off the phone so employees can "help" the next person ASAP?


  7. Helpful (2)

    "Pretty good company"

    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

    Pros

    1. Lending club cares about its employees.
    2. Salaries, at least in tech, are at par with market.
    3. Break rooms are stocked with snacks and drinks
    4. Opportunities to learn more/change teams.
    5. Decent health plans, though better for individuals, not so good for families.
    6. Employee surveys are taken seriously.
    7. In most teams, work life balance is good.
    8. Business has lot of potential.

    Cons

    1. Too many managers
    2. Stock sucks. CxOs get 7 figure stocks and sell them like every couple of months. Old timers are screwed due to drop in value.
    3. Only thing you can expect to get on any occasion will be a T shirt

    Advice to Management

    CxOs need to prove their worth by bringing new product lines, expanding the business. HR needs to improve health plans for families. Reduce no of managers, at least incompetent ones.

  8. Helpful (8)

    "Execs are in over their head"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in San Francisco, CA
    Current Employee - Anonymous Employee in San Francisco, CA
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    New President is promising, but time will tell. Snacks and ice cream sometimes dull the pain described in the next section.

    Cons

    Most of the C-Suite is mediocre at best and seem to want to keep it that way. There are a couple of exceptions, but the majority are weak and have no vision and are not leaders. Turnover is still very high and it's because anyone with a brain leaves as soon as they figure this out.

    Advice to Management

    Stop kidding yourself that people are leaving because of lack of structure or speed of business. People will stick around and work hard if there are strong and credible leaders.


  9. Helpful (3)

    "Fun Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Credit Specialist in San Francisco, CA
    Former Employee - Credit Specialist in San Francisco, CA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at LendingClub full-time (More than a year)

    Pros

    Team outings and company culture

    Cons

    The managers needs better direction.


  10. "Fresh Air in a Smoggy Work World"

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

    I have been working at LendingClub full-time (Less than a year)

    Pros

    Google-like perks and amenities coupled with adult drive and leadership.
    Extremely helpful co-workers with a unified drive to succeed.
    Understands quality of life as well as supports personal ambition.

    Cons

    The Spa books up immediately and consistently. Yes, I said Spa.


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