LendingClub Reviews | Glassdoor

LendingClub Reviews

Updated January 18, 2019
367 reviews

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3.1
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LendingClub President and CEO Scott Sanborn
Scott Sanborn
144 Ratings

Employee Reviews

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Pros
Cons
  • "Unclear directions/strategies from upper management" (in 14 reviews)

  • "too much work load, no work life balance" (in 7 reviews)

More Pros and Cons

  1. "Great Place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Comp & Benefits
    • Senior Management
    Former Employee - Credit Specialist in San Francisco, CA
    Former Employee - Credit Specialist in San Francisco, CA
    Recommends
    Positive Outlook

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

    Pros

    Free breakfast
    Great location
    Great co-workers

    Cons

    I can't think of any Cons at this time.


  2. "Great Culture"

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

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

    Pros

    Benefits are nice and people are great to work with

    Cons

    Many operational changes happen quickly

  3. Helpful (6)

    "Great, smart people who want to do the right thing"

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

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

    Pros

    The people are phenomenal. Fintech can have a lot of jerks. Finance bros + tech bros can mean a lot of testosterone and a culture of bad behavior. That is not the case here. There are very few people who are jerks. Even when people disagree, it's civil and people are thoughtful about separating the person from the situation. I have had recent conversations (one today, in fact), where someone was disagreeing with me and they said, "I know you are coming at this with the right intent, but we aren't 100% aligned." By acknowledging that someone is a good person and that it's the incentives that aren't aligned, we focus on the real problem.

    The company itself is also extremely successful. Although we are in the news a lot for being sued, it's because we are at the forefront of this industry. We are the largest personal loan company in America and that puts a target on our backs. You don't get to #1 by being bad at your job or through blind luck. The leaders here know what they're doing and how to run a business.

    There are also almost unlimited opportunities to improve things. Not because things are horribly broken, but because there is so much that we can be doing. Literally everything is upside. If it's creating a new feature, changing a process, or upgrading a tool, everyone can make a significant difference.

    Cons

    The company has survived several devastating shocks, including our CEO committing fraud and being ousted by the Board in 2016. That, in turn, created more shocks. Taken together, it's meant the past few years have seen a huge amount of change and turnover in personnel. As the company shifts its business priorities, it causes disruption for the people working there. If your boss leaves and you don't like your new one quite as much, you might leave. That causes your friends and colleagues to reconsider things, etc. Change is hard and it's not over yet.

    As the business and personnel change, even at the top, it means the executive team isn't always in agreement. It can cause even more disruption as initiatives are created or killed, especially if the communication around it isn't perfect.

    For all the facts that it's publicly traded, 1800 people, and 11 years old, this is still a large startup. If you want something more stable, Visa, Wells Fargo, and Blackrock are all nearby.

    Advice to Management

    Overcommunicate. Acknowledge the changes you're going to make and why, and acknowledge how hard they might be on your staff.

    Understand that the entire company sees the politics you play and your positioning for power. Either act more quickly or more slowly, so we either didn't see it coming or it's so gradual that it isn't noticeable. As it is, we are all waiting for moves that take months to make.


  4. "Overall, a GREAT place to work!"

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

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

    Pros

    If you’re a natural salesman, you’ll love the job. Great atmosphere. I never feel like I’m being micromanaged. The base salary and benefits is pretty decent. The commission structure is GREAT (if you work really hard and always try to perform well in your role). But if you don’t perform well, the commission is a joke.

    Cons

    Sometimes, you’re not able to get credit for the work you do. Prospects call back but at times, they don’t get to you and someone else gets the credit for selling the loan.

    Advice to Management

    Never micromanage. People don’t leave jobs, they leave managers. That’s the reason why I left my previous job.


  5. Helpful (1)

    "Data Engineer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at LendingClub full-time

    Pros

    Motivating environment, can move to different role

    Cons

    too much work load, no work life balance


  6. Helpful (4)

    "Lots of potential, not enough vision"

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

    I worked at LendingClub full-time (More than 3 years)

    Pros

    Lots of potential; Tons of customers; Smart people; Generous co.

    Cons

    Conservative; Short-term thinking, maintaining instead of innovating

    Advice to Management

    Create and pursue a real vision. Think beyond the next quarter.


  7. Helpful (2)

    "credit specialist"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at LendingClub full-time

    Pros

    Cool people, snacks, flexible hours, fun activities

    Cons

    monotonous work, Terrible upper management

  8. "Great benefits"

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

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

    Pros

    Great benefits and work life balance

    Cons

    Need more structure, Stock is climbing very slowly

    Advice to Management

    Need more structure


  9. Helpful (8)

    "Don't Recommend"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Member Support Representative in San Francisco, CA
    Former Employee - Member Support Representative in San Francisco, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    - Snack Bar
    - Free Health/Dental/Vision
    - Location (Montgomery Bart and Muni right in front)

    Cons

    DO NOT work in Member Support unless you are desperate for a job or changing careers. LendingClub's operation team (Customer Development, Credit, Payment Solutions, and Member Support) have a crazy high turnover rate. I was working in Member Support for almost a year and I was one of the longest term employees in the department. They hire in large groups (10-15) monthly. Of the 10 people are started with, only 8 made it out of the 1 month training and only 3 people were remaining after 3 months.

    You are expected to be on the phone 93% of the day and your productivity is tracked down to the minute. If you need to use the restroom or if your call goes into your break, it will negatively affect your score. You are also graded on QA (they listen and grade two of your calls per week), Customer Surveys, and Average Handle time. You are nothing more than a number working here. The managers and supervisors don't care how burned out we get taking back to back calls for 7.5 hours a day. T

     Although the supervisors here were nice enough, they were pretty much useless. They pretty much sit at their desk all day, and no one actually knows what they're doing all day. If you need help with a customer or have a general question, you just get redirected to a member of the Assist team. It got to a point where I wouldn't even bother the supervisors and go straight to the Assist team anytime I needed help.

    During the hiring process, they mentioned that after 6 months you are able to transfer to a different department. What they didn't mention is that the departments you can transfer into are just lateral moves within operations. In my 1 year working here, I did not see anyone actually get promoted to a higher role.

    SIDE NOTE : The Member Support team is currently expanding to a branch in Las Vegas, Syracuse and Jamaica. The cost of running a call center is much cheaper at those locations, so if you're looking for job security, this is not it.

    Advice to Management

    Get rid of the Member Support Supervisors. They literally don't provide any help and are seemingly there just for moral support since everyone in Member Support hates their job.


  10. Helpful (2)

    "Undervalued but the people are great to work with"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at LendingClub full-time

    Pros

    Great benefits
    Free snacks
    Relaxed office culture

    Cons

    Treated like a number, high turnover rate
    Never valued as an individual as much