SoFi Reviews

Updated Jun 1, 2020

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3.2
52%
Recommend to a Friend
69%
Approve of CEO
SoFi CEO Anthony Noto
Anthony Noto
100 Ratings
Pros
  • "Free lunch card/allowance every pay period(in 45 reviews)

  • "Great benefits - free lunch, health care premiums paid for, stock options(in 38 reviews)

Cons
  • "upper management said themselves that employees are dime a dozen hence the reason below(in 23 reviews)

  • "There is absolutely no work life balance(in 22 reviews)

More Pros and Cons
  1. Featured Review
    Helpful (5)

    "Awesome"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Director in Helena, MT
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at SoFi full-time for more than 5 years

    Pros

    SoFi has excellent benefits, and is an interesting and fun environment in which to work. The company is growing fast and that comes with growing pains and the occasional misstep, but that is to be expected. Employees are expected to iterate, learn and innovate quickly. All things considered it is the best company I have worked for, that over a 30 year career across many industries.

    Cons

    There are no cons to report. If anything is not working well there is an expectation we take the initiative to fix it.

    SoFi2019-10-01

    SoFi Response

    October 3, 2019People Team

    Loved to hear such positive feedback! Thank you for taking the time to share your thoughts.

  2. "👍"

    5.0
    Current Employee - Software Engineer in Helena, MT

    I have been working at SoFi full-time for more than a year

    Pros

    Good benefits, collaborative teams, stock options

    Cons

    No 401k matching, different offices have different culture

    SoFi2020-05-28
  3. Helpful (3)

    "Oh SoFi, what a mess."

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Marketing Director 
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at SoFi full-time

    Pros

    -- Benefits are decent. Slowly getting better but long way to go. Still no 401k. -- The CEO talks a big game. Given his Army background, there’s no doubt he can rally the troops. Unlike the military, it’s all talk. -- Work with a handful of incredible people. They are there! Unfortunately, most great people who really made SoFi great have moved on to companies that will truly value them. -- Market is changing, and SoFi has pumped billions of dollars into naming a stadium and buying other companies. They are willing to spend gobs of money to be competitive.

    Cons

    -- Decisions are solely top down. The majority are made by three people who have no idea how things work and use what experience they have from previous, most established companies to force decision adherence. The rest of the organization will then scramble and waste enormous sums of money trying to accommodate. About half of those projects will then be abandoned when the next fire happens. The idea that "good ideas come from everywhere" does not exist here. Have a great idea? It *may* be highlighted for a couple minutes in the weekly All-Hands and then nothing will change as people chase the latest fire. -- Marketing leadership has no power. Business units tell them to jump and they ask how high. Favoritism within department (and company) runs rampant. Those with the best education are given priority. If you are lucky, you’ll be on the inside. Most never make it. Good news is that those on the outside make friends to deal with the unhappiness. -- Silos as far as the eye can see. Three groups may be working on the same solution and not know about it until significant amounts of money have been wasted. You have heard of “not invented here” syndrome? Now apply that within a company but between departments. Seems people don’t share what they learn for fear of being made obsolete or perhaps to spite others. More key-person dependencies than other place I have worked. -- Truly cutthroat environment. There are some NASTY people who work at SoFi and feel that they need to be mean in order to get things done (one of those people is a member of the three decision makers mentioned earlier). -- Recently had a round of layoffs and none of the dozen or so employees I talked with mentioned that performance was brought up during their termination. SoFi failed to mention anything about performance. In fact, one individual here recently got a pay raise and was then laid off. So while they may think it saves the company from outsiders thinking their business is at risk, it prompts current employees to lose trust in leadership likely leading to an exodus of those not impacted, severely hinders the ability of those let go from finding new roles after being labeled under-performers, and guarantees that candidates will hesitate before taking a recruiting call with them. *How companies handle letting staff go sheds light on whether or not a company values their team.*

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    SoFi2020-06-01
  4. Helpful (1)

    "Thank You SoFi"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Manager 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at SoFi full-time for more than 3 years

    Pros

    Not unlike other companies, SoFi has had it's share of challenges during this pandemic and recently had to make some really difficult decisions. Each choice has been made with a tremendous amount of thoughtfulness, insight, and character. As someone who has been involved with hard times in the financial industry I can say that SoFi has valued its highest contributors since the day I started. Now this does create some conflict amongst employees on the other end of the spectrum. But it does help to create a sense of security for those who put every ounce of themselves into the business. There is nothing worse then being impacted by one of these decisions for anyone; however, to be impacted and knowing you've been a high level contributor for years leaves those with questions of: "how and/or why".. At least at SoFi we know those answers. Some probably don't want to hear it but at least they know. For those of us left, we know to keep contributing at the highest levels and SoFi will reward our efforts.. For that, I Thank You SoFi!!!!

    Cons

    A real problem is lack of accountability across the board and goes above those on the front line. Take a close look at the leaders that have been most impacted by the recent optimization exercisers and ask the following questions: Why haven't individuals been held accountable to performance prior to the pandemic? Do we have the proper measuring devises in place truly quantify someones performance? Is this the leader we want in place to execute ones performance truly up for the task (OM and above)? The other side will be look at those least impacted. Are the evaluations true and accurate? Do we have the measurables inplace to ensure each department has the tools needed to weigh against these measurables? Again, do we have the correct managers in place to enforce this is getting done in coordinace with expectations?

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    SoFi2020-05-19

    SoFi Response

    May 27, 2020Internal Communications Lead

    We very much appreciate your thoughtful review. Along with insights obtained during our listening tour and employee engagement surveys, this feedback is extremely helpful in working toward our goal of creating the best culture in the world. Based on such feedback, we recently revamped our performance check-in process and manager onboarding program, which we hope will solve some of the issues you've mentioned. Manager training and development is an ongoing passion for us, and we are continuing to create and launch new initiatives to enable our managers to be successful people leaders. We will take your other thoughts into consideration as we go through our post-engagement survey action planning process.

  5. Helpful (6)

    "Sneaky Layoffs"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Middle Management 
    Doesn't Recommend
    Neutral Outlook

    I have been working at SoFi full-time

    Pros

    - Attempts at changing company culture - Attempts to be clear and transparent in leadership communications to teams

    Cons

    Sofi has a very ad hoc performance review system. No one knows how calibration happens and it seems as though it is based on whether or not you belong to a "clique" or a group within the company. Sofi is a company where the "brotastic culture" still exists (despite leadership claims of having turned the culture around). Obviously, Senior leadership doesn't embody and demonstrate values that they want the company employee base to adopt and exhibit Leadership made multiple claims about Sofi strong financial position and went so far as saying that they do not anticipate layoffs. However, employees were laid off and what was even more unfortunate that those employees were nixed by citing poor performance. Sofi instantly fell from grace when they laid off multiple folks (recent hires) by citing performance reasons for layoffs in times of COVID.

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    SoFi2020-05-27
  6. "Great Company"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Test Automation Engineer in Helena, MT
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at SoFi full-time for more than 3 years

    Pros

    Plenty of opportunity to move throughout the company. Team work is very valued and there is plenty of work to do.

    Cons

    I dont have any cons, it is a great place to work.

    SoFi2020-05-12

    SoFi Response

    May 27, 2020Internal Communications Lead

    Thanks for taking the time to share your feedback! We're so glad to hear your experience at SoFi is a positive one.

  7. Helpful (10)

    "losing hope here"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Mortgage Loan Officer 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at SoFi full-time for more than a year

    Pros

    weekly town hall meetings and innovative products

    Cons

    SoFi doesnt take of it's people. there are no empathy and care among the staff. in meetings, they will tear you down and interrupt you when you challenge their decisions. Many of them have the old school banker personality where their decision is always right. there was barely any communication about the recent layoffs and the leaders didn't address any follow up questions. bad communication plan on the staff. to warn all current employees like myself and new hires- what the executives did was unethical and unjust: changing employee's rating without the manager's consent or knowledge. no one is safe. do not believe what you see on the news. their PR department is great at covering up and masking what is happening behind closed doors.

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    SoFi2020-05-12
  8. Helpful (13)

    "Toxic and visionless"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Engineer 
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at SoFi full-time

    Pros

    Decent salary, benefits, and office perks (SF).

    Cons

    There are many to list but I think they can be condensed to a toxic culture and visionless upper management. The CEO touts the company culture as the best in the world. Don't believe it for a second. You can see the toll that the culture takes on new employees after just a few months. Suggestions that improvements can be made are disregarded or shushed. I did not get the sense that many in upper management had a time horizon of more than a year. Also, upper management's impulse is to throw tens of millions of dollars at expensive marketing gimmicks--the business outcomes of which aren't measured by the way-- rather than invest in improving a suite of very mediocre products.

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    SoFi2020-05-07

    SoFi Response

    May 27, 2020Internal Communications Lead

    We're sorry to hear that your experience at SoFi was anything less than what you anticipated. Creating the best culture in the world is an aspiration of ours, and while we have made great progress in working toward it, we don't claim it as our current reality. We know we can't achieve this goal without the input of our employees, so thank you for sharing your candid thoughts with us. We value all feedback, in whatever form it comes, and will take it into consideration as we move forward.

  9. "Great place to work"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Compensation and Benefits
    • Senior Management
    Current Employee - Product Marketing in San Francisco, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at SoFi full-time for less than a year

    Pros

    - Smart, passionate colleagues - Great mission - In-house creative team - Get it done attitude - Strong focus on culture - Good size - small enough to make an impact but large enough to have support

    Cons

    - Many layers of leadership (not unique to SoFi) - Strategy can feel like it's in terms of "days" not "months/quarters" at a time

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    SoFi2020-05-06

    SoFi Response

    May 27, 2020Internal Communications Lead

    Thanks so much for sharing your thoughts! What makes SoFi so special is the many smart, passionate, mission-driven colleagues you've called out in your review. We will continue to incorporate feedback like yours into our efforts to create a best-in-class culture for you and your colleagues.

  10. Helpful (11)

    "A disappointing experience"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee in San Francisco, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at SoFi full-time

    Pros

    - Nice office in SoMa near a lot of transit options. - Providing services that help people get ahead and that are better than the big banks. - Management investing in the tech stack and tech resources.

    Cons

    - The tension in upper management is obvious and is a result of the CEO playing people off one another. Not collaborative at all. - The products are nowhere near as good as management thinks they are and aren't cutting-edge at all compared to others in fintech. More focus on quantity of products than on their quality. - Strategy is informed more by whatever the CEO is hot on or something some other rich friend told him than actual research or thinking about user needs and desires. - Little respect for member UX. It's one thing to treat users as lab rats for a consumer social product, another thing entirely when it involves their money. - Benefits trail the tech companies they want to poach from on the technical side. Maybe they're great for customer service people in Utah, but they aren't for product and eng in SF. - Higher turnover than I've ever seen at a startup driven by conflict at the top, inexperienced managers, and political culture. - CEO likes to talk about having "the best culture in the world" but doesn't back it up with his actions. It became a joke phrase with my teammates. Got the sense there was a real have/have not split between us in SF and those in Utah and Delaware. - Stock is not worth anywhere near where they say it is. Go do some research before you accept an offer.

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    SoFi2020-05-05
Found 382 reviews
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