World Business Lenders Reviews | Glassdoor

World Business Lenders Reviews

Updated June 21, 2017
86 reviews

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Full-time Part-time

2.8
Star Star Star Star Star
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Doug Naidus
64 Ratings

86 Employee Reviews

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Pros
  • If you have any emergencies, or prior obligations as long as you communicate to your management team they are more then willing to accommodate you (in 8 reviews)

  • Great opportunity to make money and Learn from seasoned sales people (in 3 reviews)

Cons
  • Salespeople are provided with little to no support in generating leads (in 4 reviews)

  • Upper management does not care about their employees (in 4 reviews)

More Pros and Cons

  1. "Positive"

    Star Star Star Star Star
    Current Employee - Analyst in New York, NY
    Current Employee - Analyst in New York, NY

    Pros

    Good learning experience . Nice people. Good location. I have no complaints. A lot of people complain about the salaries but if you are an asset you get compensated as such

    Cons

    I don't know what I consider a con because most of my experience he is positive. Maybe I'm just lucky.


  2. Helpful (1)

    "Avoid"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Specialist in Jersey City, NJ
    Former Employee - Financial Specialist in Jersey City, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at World Business Lenders full-time (Less than a year)

    Pros

    management; friendly peers & co-workers

    Cons

    pay & training was poor


  3. "Sales Manager"

    Star Star Star Star Star
    Current Employee - Sales Manager in Newington, CT
    Current Employee - Sales Manager in Newington, CT

    I have been working at World Business Lenders full-time (More than a year)

    Pros

    Equity based Company Strong Portfolio

    Cons

    Industry Shifting in a negative direction


  4. "Lending Specialist"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative in New York, NY
    Former Employee - Financial Representative in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at World Business Lenders (More than a year)

    Pros

    Very professional work environment .
    Strong Management support.
    Decent Technology

    Cons

    Need to invest in getting better leads

    Advice to Management

    Need better lead sources.


  5. "It depends on you"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Finance Analyst in Jersey City, NJ
    Former Employee - Finance Analyst in Jersey City, NJ
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at World Business Lenders full-time (Less than a year)

    Pros

    1. Fantastic co-workers
    2. Helpful management (I cannot stress this enough)
    3. The CEO is friendly
    4. They provide some sort of beginning pay (it is a NON- FORGIVABLE DRAW)

    In sum, for a non-college graduate, it is a fairly good opportunity to make decent money. However, I would not recommend this job to someone with multiple options. If you are interested in sales, and you do not have a college degree, or did not perform great in college, this is not a bad opportunity.

    Cons

    PLEASE NOTE- this is coming from someone who does not like sales, and is not meant for the sales industry.

    1. It is not easy to sell what you are selling
    2. Most people do not make money for sometime
    3. You NEED to be a good salesperson, and have the sort of personality (they do not provide good sales training). They provide good product training, but that does not seem important, at the beginning.
    4. They oversell the position, just be aware of that, I was, but some are not. You will not making 100,000 in your first year, in fact, you probably will never make 100,000 dollars a year in this job.
    5. The leads are not great, but I do not think leads are terrific in any industry.
    6. The guy who okays loan applications, is, well horrible. He is always late to work, and leaves early, which is problematic for salesmen (this might have been fixed).

    In sum, for a sales job, it is not horrible. However, you need to have a salesperson's like personality; the training provided will not be adequate. Additionally, be realistic, it is not likely that you are going to make 100,000 in your first year of work, something that is true of any job.

    Advice to Management

    1. Fix salesforce (if you have not, already)
    2. Do something about approving or denying loan applications quicker (I know so many people that lost sales because of this). You cannot advertise 48 hours, then give them an answer one week later, because the guy whose job it is to approve these loans came in three hours late.
    3. Aside from that, do something to motivate your employees (they talked about making games and stuff, for most calls, I do not know if this was done)
    4. Lastly, keep up the good work. The management is friendly, hardworking, clear about expectations, and always reasonable.


  6. Helpful (1)

    "Not a good career choice."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Specialist in Jersey City, NJ
    Former Employee - Financial Specialist in Jersey City, NJ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at World Business Lenders full-time (Less than a year)

    Pros

    The management/team leaders. Some of them were very nice and willing to help. Coworkers looked out for each other.

    The location was nice.

    That's pretty much it to be honest.

    Cons

    IF YOU DON'T FUND, DON'T EXPECT TO STAY LONG. THEY WILL LET YOU GO WITHOUT NOTICE. DOESN'T MATTER IF IT'S A SLOW MONTH FOR EVERYONE. NO EXCEPTIONS.

    ALSO PRODUCT WAS HARD TO SELL, NOT EVERYONE WANTS TO USE THEIR RESIDENCE, BUSINESS, ETC. AS COLLATERAL.

    The training process was horrible. Actually I don't even call it training, more like introduction and then get thrown into the fire right away and expect to perform. The HR intro section of the training was actually longer than the training of how business is handeled on the sales floor.

    Small hourly wage .. good luck.

    Advice to Management

    Train the new employees. You want to see them perform to stay in the business but don't actually look for them, when they're having trouble closing.

    Fund or be gone, get rid of that way of doing business. If you want WBL to be successful, grow the team, build a path for them. Like in wolf of wall street they weren't closers right away.


  7. Helpful (2)

    "Worst company in the world"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales Associate in Jersey City, NJ
    Former Employee - Sales Associate in Jersey City, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at World Business Lenders (Less than a year)

    Pros

    They will fire you soon, so you won't waste to much of your life there!

    Cons

    Everything, lack of training, lack of pay. Complete waste of time!

    Advice to Management

    Just dissolve the company, there's no hope for you!!!


  8. Helpful (7)

    "Save Your Time & Stay Away!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Analyst in Jersey City, NJ
    Former Employee - Analyst in Jersey City, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at World Business Lenders full-time (More than a year)

    Pros

    The employees are great people. They find ways to lean on each other and create a fun workplace despite being severely underpaid and underappreciated by executive management. Outside of that, there is essentially nothing else positive about this place.

    Cons

    If there were a chapter in any accredited business book on “How Not to Run a Firm”, World Business Lenders would be an exemplary case study.

    I worked for this company, in their NJ headquarters office, for a little over a year and I do not wish that burden on anyone else moving forward. I strongly advise anyone who is educated and with high career aspirations to refrain from accepting a position at this firm, unless of course it is your absolute last resort in life.

    Firstly - the executive management team at this place has absolutely zero idea what direction they plan on taking the company. It is commonplace to hear employees saying something to the effect of – “The only thing constant about this place is change.” The hubris of this executive team is second to none. They rely on their past success, in the shady mortgage industry of the mid-2000’s, to serve as some type of indication that they’re the smartest guys in the room. Breaking news, they aren’t – and the toxic reputation that this company has permeating this industry is all the proof you need to reach that determination. Their inability to retain talented individuals should serve as another indication that something isn't right, but I digress.

    Secondly - over-promising, misleading, and underpaying employees is pervasive in this organization. If you value an environment that promotes honesty, trust, and recognizes its employees’ contributions, this place is the complete antithesis of that.

    Lastly - as an organization whose success is contingent on sales, one would think they’d have a great support system in place, right? Though commonsense would say yes, in this firm, you’d have to think again. Salespeople are provided with little to no support in generating leads. Despite the lack of support, you are still expected to generate a certain number of deals per month or run the risk of being terminated. It is not uncommon to walk-through their sales floor, which boasts 100+ employees, and hear silence or non-work related chatter among colleagues. You’d be hard-pressed to find 10-15 salespeople in the corporate location that are making money, and that is the sad, but unfortunate truth. Please understand that this place does not have an established culture, even after 5 years in business, conducive to nurturing talent and bringing the best out of people. Inevitable failure awaits an overwhelming majority of those who come on-board for a sales position, regardless of the dream that is sold to bring you onto the "team".

    While I care deeply about - and forged close ties with - my former colleagues at this company, they all know they deserve better. Though I do not know you, I hope you will heed this advice and save yourself the headaches, lint filled pockets, and most importantly – YOUR VALUABLE TIME!

    Advice to Management

    Recognize talent, nurture that talent, and perhaps your firm will actually become the dream you sell it to be.


  9. Helpful (4)

    "WBL sucks"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Jersey City, NJ
    Current Employee - Anonymous Employee in Jersey City, NJ
    Recommends
    Negative Outlook
    Disapproves of CEO

    Pros

    The employees are like family.

    Cons

    The worst company to work for after getting a grant from the state of N.J to relocate from NY. They hired about 100 people between August and December of 2016.
    90% of that staff was fired with no explanation.
    They work the crap out of those employees for $10.00 an hour . Never giving them the tools to do their jobs .
    Exploitation at its best .


  10. "Associate"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate in Jersey City, NJ
    Current Employee - Associate in Jersey City, NJ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at World Business Lenders full-time (More than a year)

    Pros

    Most people in management are helpful. Some executive members just turn a blind eye when it comes to lazy employees. Sales assistant for the sales team seems educated however very lazy when taking care of files in order. Doug, Gary, Yasemin as well as Cem are incredibly helpful once they see you have been around a while.

    Cons

    Get in and out do t stay for more than 1-2 years. If you work in sales make sure your on team steigman or PEpe. If your not buddy buddy with some people you may not make it so make sure you apply for anything g except sales position.

    Advice to Management

    Advice to Doug Naidus or Gary Be my Friend :). Pay a 30K draw or salary depending on what department. Sales 30K draw vs. commission. Anything else flat 30-40K possible raise after 2 years. 5-10% each year


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