Prosper.com Reviews | Glassdoor

Prosper.com Reviews

Updated January 21, 2017
137 reviews

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Full-time Part-time

2.8
Star Star Star Star Star
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Prosper.com Chief Executive Officer David Kimball
David Kimball
5 Ratings

137 Employee Reviews

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Pros
  • Lots of positivity and great people to work with (in 11 reviews)

  • Working at Prosper affords great benefits and an amazing workspace (in 10 reviews)

Cons
  • There is absolutely no time off and very little leniency for "worker monkeys (in 5 reviews)

  • Upper management in San Fransisco is very disconnected from what we did in SLC (in 5 reviews)

More Pros and Cons

  1. Helpful (2)

    "IT"

    Star Star Star Star Star
    • 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
    Neutral Outlook
    No opinion of CEO

    I worked at Prosper.com (More than a year)

    Pros

    nice office, central location in downtown san fran. good opportunity for future growth if company can pull through the past year

    Cons

    the management clean out was good but company will probably still be in major turmoil and uncertainty for a while

    Advice to Management

    treat the people well and they will treat the company well. demonstrate strong leadership skills and demand accountability from everyone in the company


  2. Helpful (6)

    "Sr Verification Agent"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Verification Agent in Phoenix, AZ
    Current Employee - Senior Verification Agent in Phoenix, AZ
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at Prosper.com full-time (More than a year)

    Pros

    The health insurance is great especially if you have a family. Generous 5% 401K match from the beginning.

    Cons

    There is absolutely no time off and very little leniency for "worker monkeys." Managers rarely show up and complain throughout the day even though they do little to nothing. Bonus structure is constantly changing. Employee turnover is almost comical. Would not recommend employer to a friend.

    Advice to Management

    Do a clean sweep of management. Hire people who care about what they are doing, have college degrees and who actually show up to work.


  3. Helpful (5)

    "Back on the Right Track"

    Star Star Star Star Star
    • 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 Prosper.com (More than a year)

    Pros

    Prosper experienced "rocketship" growth from 2013 to Jan 2016. Early this year we hit some stumbling blocks. These were primarily macro-economic in nature and impacted marketplace lending as a whole. Prosper's management team in May, made the difficult, but necessary decision to lay off a portion of the workforce. This lay-off was painful as the employees here had only experienced the fun and excitement that comes with working at one of the most successful pre-ipo companies. The sheer pace of Prosper's growth over a 2-3 short years, followed by sudden correction, exacerbated the employee backlash. However, in the real world all companies have ups and downs and take some risks that pay off and others that don't. The temporary market driven challenges in 2016 did expose some weaknesses in our business and in the management team (other reviewers have been correct to point out). The good news is that these weaknesses in our management team and business strategy have since been corrected or are in the process of being corrected. We're expecting a very successful 2017 and beyond.

    Net net, it's a good company and a pioneer in marketplace lending. We experienced a rough patch in 2016 for sure, but there's a bright future for those that have the gut to stick with it through a lean year.

    **The New CEO (internally promoted) is exactly what Prosper needed for the next chapter**

    Cons

    We used to have a monthly business update meeting, in addition to a monthly town hall/social. We're now just having a monthly town hall. Bring back the monthly business update meeting so that all levels of the company can feel involved in the month to month activities / financials of the business.

    Advice to Management

    Continue to drive the positive changes within the management ranks.


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  5. Helpful (3)

    "Operations"

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

    I worked at Prosper.com full-time (Less than a year)

    Pros

    The company had really nice benefits. The free snacks were fantastic, actually the bagels on Fridays were my favorite thing. Great people in the Phoenix office (excluding some higher level of leaders). The new CEO seems awesome and will know how to right the ship

    Cons

    Lack of culture in Phoenix office for verification. They let go really talented leaders in SF and that impacted a lot of phoenix employees. The culture was broken after the layoffs in May and it never recovered. High turnover kills most progress that was made

    Advice to Management

    Fix culture in Phoenix, a once fantastic team is not even remotely close to what it once was.


  6. Helpful (6)

    "Hit ROCK BOTTOM, hopefully on the way up!"

    Star Star Star Star Star
    • 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
    Positive Outlook
    Approves of CEO

    I have been working at Prosper.com full-time (More than a year)

    Pros

    - People, one reason to stick around. We have lost a lot, but there are still some smart and genuinely nice folks around.
    - Still in a building stage, ground floor opportunity to put your name on it.

    Cons

    - Once a year promotion, what century is this?!
    - Bad investment choices by management and employees get laid off! No accountability in leadership
    - Bad leadership choices, no spine to lead in tough situations and act on employee feedback e.g. ex-CPO/CTO
    - If you are looking for a tech culture or silicon valley experience, this is not it
    - Not fun to work at
    - Judged on presence in the office rather than deliverables
    - NOT Unlimited vacation policy, frowned upon if you take more than 15-20 days!
    - More concerned about people turning up on time or having long lunches or leaving early!

    Advice to Management

    “You are lucky to have a job” or “Job Security” are not selling points to your employees in the Bay Area! These are some smart people and highly employable.
    - Value your employees and let them know about it
    - Reward and promote them. Get out of this ‘once a year’ performance cycle, get inventive with rewards/incentives and promotions
    - Run this like a Tech company rather than financial services
    - Don’s just talk about having fun, make it happen! Tone from the top and executive/team leaders involvement is key
    - Encourage engagement and collaboration within teams. People seem to be afraid to talk or chit chat incase this makes a bad impression!
    - Please worry about achieving company objectives, not whether people are turning up on time or having long lunches or leaving early. This is not a school and snide comments do not help!
    - Hire leaders with some spine and make them accountable


  7. Helpful (7)

    "Lots of benefits for engineers who's IN the circle"

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

    I have been working at Prosper.com full-time (More than a year)

    Pros

    Engineers get to cruise as eng INleadership has no technology brains to set technology vision and innovation roadmap. Killer of innovation for profit.
    Engineering staff gets to coast a lot as there no need for thinking to be applied in technology
    Entire Ops team quit and is run by front end and quality engineers... hahahah

    Cons

    - with no technology brain, tech INleadership will live as flattery serves good at prosper
    - INleadership confederates will have awesome salary and package
    - ex-CPO and eng INleadership killed this company morale in engineering. Time to hire a technologist and help to make progress

    Advice to Management

    Hire a solid CTO and make it awesome technology


  8. Helpful (7)

    "ups and downs, but good work"

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

    I have been working at Prosper.com full-time (More than 3 years)

    Pros

    Lot's of work and lots of hard workers help the days go by quick and a sense accomplishment. Plenty of room to prove your worth if you're good at what you do. The industry has gone through a period of frozen liquidity and despite the false buzz of high valuations from the year of inflated unicorns (2014-2015), after recovering from this downturn we are better slotted for success than ever before.

    Despite all we've been through, the management at the top are good guys and passionate about the positive side of the industry. We leverage larger institutional funding for our loans, but at the core we represent smaller funds, giving individual lenders the opportunity for higher returns, and providing loans to thousands of people that have nowhere else to turn. The big banks have done their damage and our product is a p2p network of people helping each other compete in a space we create. Check out the facebook page to get an idea of the impact this product offering has had on people's lives.

    Also, we've achieved great success purging toxic energy internal to the company. After the big layoffs, anyone else still not happy has had plenty of time to find something else. The people left are here to work and if anyone is still complaining about the past, they just look bad like they must have been such a bad hire they can't find anything else. For the people that want to work, there are plenty of open ears and opportunities to help improve things. I find it impressive how much we've been able to turn everything around for the positive.

    Now is a good time to join because we're rebuilding and expecting rapid growth again, but this time we're better prepared for it.

    Cons

    All the ruminating on negativity instead of working towards solutions, shown by many of the reviews on this site. The engineering work is hard enough in itself, balancing tech tradeoffs and choreographing iterative production releases can be crippling if you don't find your voice heard or your work getting out into production. Luckily most the engineers suffering from this constraint ruminating have moved on, but to understand how so many people who gained upwards of a 50 percent salary adjustment to their career can complain about the company that launch padded for their career, you have to understand the history of the department.

    Since the company was bought by new management late 2013, we've had three major changes in engineering management. The initial purchase came with a series of layoffs that left an elite skeleton crew with much pride and passion in their work and a plan for solving the lingering technical bottlenecks. The 2014 management came in talking about how we would fix all our problems with introducing a rapid development stack, which was not well received by the previous tech leads and people started leaving with a sense of all their hard work not being appreciated even though the company grew around 400%.

    2015 was new prosper management v2, move to Java ASAP with rapid hiring. This wave peaked with dissatisfied employees. Older employees were told to fall in line with the new political agenda (silicon valley's box in the back of a server farm effect) and new employees were pulling long hours on a thrown together platform without functional dev infrastructure support resulting in their boss getting a promotion for their work, seemingly no appreciation from the older staff, and too much time spinning the wheels on the hell that appears from overwriting shared configs, libraries, and deploys from a few overcrowded dev environments. It felt like a war of management, the new java initiative had over promised deliverables, lies had already been told to the executives on the progress of said deliverables, there was apparent pressure for heads to roll when deadlines were missed and everyone was trying to cover their tracks. It wasn't just a war between dev, product, and QA, it was the classic fear of mentioning that the emperor wasn't wearing any clothes. It sounds dramatic, but when stress and passions are high, things are dramatic and this is why there are so many bad reviews from every different perspectives on this site.

    2016 new management v3, forget the politics, let's make prosper great again. (note, there is no public discussion of the actual presidential race, it's just a good metaphor ) Despite the much needed round of layoffs, we finally have management with very high approval ratings. The extreme glassdoor reviews gives insight into the amount of toxic purging done. We're finally focusing on paying off tech dept, building out a great platform template with all the microservices best practices, fixing our environments, configs, deploys, and anything else that was crippling us under load. We can finally get back to actual engineering and building software in harmony. Working in smaller teams is a little easier and we've gotten back to good collaboration, centralized architecture focus, and fixing all the problems that haunted us under load. It's been a year of less new feature development and more fixing internal issues.

    Advice to Management

    Continue polling low level employees for feedback to verify the advice from your reporting structure, and continue the culture of transparency and communication.


  9. "Tough and remarkable year and now on an upswing.."

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

    I have been working at Prosper.com (More than a year)

    Pros

    It's been a turbulent year in the market and that has provided the space to revamp the technology and culture and get our fundamentals right. The technology team and platform are light years improved compared to what I saw when i started. Significant turnaround of a year. Glad to have participated in it as the market is now turning around and we are ready for the upswing.. Fantastic coffee and beer on tap.

    Cons

    Nothing much comes to mind. Would certainly love more snacks in the kitchen. Maybe even an office in the south bay.. I don't enjoy my long commute.

    Advice to Management

    Become more of a tech company and assimilate the best of silicon valley culture. Become true fintech. Keep working hard at it.


  10. Helpful (6)

    "Wow, quite a turnaround.."

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

    I have been working at Prosper.com full-time (More than a year)

    Pros

    Loving it here. It's been an amazing turnaround of a year. Despite the growing pains for peer to peer and marketplace lending, we've become so much better in how we build software and work collaboratively and together. Wonderful leadership. We've addressed years of lack of good tech leadership.

    Cons

    It's been a tough year for this industry and things are finally turning around. We began the year with great momentum and then slowed down and now we are growing and hiring again.

    Advice to Management

    Continue the transformation into being a fintech company.


  11. Helpful (1)

    "Customer Success Manager"

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

    Pros

    Benefits are extensive and great.

    Cons

    Lay offs have been happening.



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