TransferWise FAQ

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How are senior leaders perceived at TransferWise?

17 English reviews out of 17

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28 April 2020

Pros

international travel mission driven startup great and smart employees

Cons

Bad management. TransferWise has given all of the top opportunities to the wrong people. Ones who have been with the company since it's early days but really have no idea what they are doing. Leadership and management are threatened by scrappy smart colleagues and will do anything to push them out and have them get fired. I was fired and was one of the top performing individuals in the marketing department. All because my boss didn't like me as a person after being initially obsessed with me in the interview/early months of me being there. Major turnover in the NYC and London offices. Experienced sexual harassment during Summer Days. Reported it and nothing happened or was addressed. Racist CEO and leadership team from Eastern Europe who have never seen black, gay or any diverse people in their life. LOW SALARY. Get with the times - this isn't a nonprofit, so stop acting like it.

Advice to Management

Get rid of all the people in leadership who you consider "loyal" but suck at their jobs. Stop firing good talent. Pay people more, stop being so cheap.

Racist CEO and leadership team from Eastern Europe who have never seen black, gay or any diverse people in their life.

28 April 2020

Reviewed by: Manager in New York, NY (Former Employee)

24 September 2020

Pros

Super flexible, super fast-paced and challenging, always something to learn, never a boring moment, global, mission driven, autonomous, able to grow, so much to get involved with!

Cons

The autonomous environment isn't always a good thing, it can make things super challenging. The leadership team don't see themselves as leaders and the CEO is loosing lots of trust from his employees. If you can look past this stuff, the company is very exciting place to be!

Advice to Management

Start to care more about your people, it should be everybody's focus not just the People team!

The leadership team don't see themselves as leaders and the CEO is loosing lots of trust from his employees.

24 September 2020

Reviewed by: Anonymous in London, England (Current Employee)

15 June 2020

Pros

TransferWise lives up to the hype. It's a unique chance to learn and make an impact in a business which is genuinely setting new standards in financial services. A few things that stand out for me: - The people are smart, decent, and there's a sense that doing the right thing is important in all aspects of the business. When People issues do crop up, they're taken seriously - Everyone is obsessed with the TransferWise mission from product through to CS. This helps unite the global team, and means the biz is focused on building good quality payments rails 'under the bonnet' of the product. Downside is the buzzy front end features other fintechs churn out take longer at TransferWise, because the team is more focused on incremental changes to making transfers faster, cheaper etc. Long term I think this investment is worth it - Most teams have clear structures for career development. Progression is based on merit, and in my experience hard work is rewarded - In most cases there is room to try new things and fail, as long as you demonstrate learnings - Everyone in the business is awarded share options, even at entry level - The founders and senior leadership team are hard working and committed to the mission 9 years on from the company being founded - It's a fun place to be! Annual company holiday, travel for most roles, typical beer and pizza style start-up parties. Lots of people relocate from overseas for TransferWise and make close friendships in the company

Cons

- It's not for everyone. The autonomous teams model requires you to be entrepreneurial to get things done. If you're not a self-starter you will find it hard to navigate the blockers inherent in the company's structure - There's a strong feedback culture which can get pretty noisy and be disheartening. It's a blessing and a curse, the right level of feedback leads to positive outcomes, other times it's overwhelming, unproductive and paralyses the people with the most expertise from doing their jobs - The company has some work to do on Diversity & Inclusion at leadership level. It's making up for this now but it could have been looked at sooner

- The founders and senior leadership team are hard working and committed to the mission 9 years on from the company being founded

15 June 2020

Reviewed by: Head of Team in London, England (Current Employee)

24 November 2018

Pros

There are a lot of opportunities to grow and learn, especially if you are rather early in your career, as you are not really stuck in a role and specific tasks but can easily spend some time on anything which is useful for the company. Teams are mostly small, cross functional (except for some aspect like infra) and independent in how they operate. On top of teams being independent people are rather free about where/when/how they work as long as it is not abused too much and they deliver (remote working, working from home). If you spend more time than average working in a productive way it will be acknowledged and rewarded.

Cons

Weak leadership of the company and management overall. Leads have mostly ended up there based on time in the company rather than leading skills. Lack of coordination and alignment between the independent teams which reinforce a work in silos and creates confusion around the big picture. It is time to acknowledge that TransferWise is not a startup anymore even if it has managed to keep a lot of nice stuff from that and put in place efficient structures and processes for the scale it operates at nowadays. Some can abuse the independence and freedom mentioned in the bad points with very little control on it which can be frustrating for people playing fair game. The leadership team of the company tends to micromanage or even bypass teams when things are not going in the direction they have in mind, while the root causes of lack of inspiration and alignment from them to the rest of the company doesn't seem to be much addressed.

Weak leadership of the company and management overall.

24 November 2018

Reviewed by: Software Engineer in London, England (Former Employee)

10 November 2020

Pros

Definitely among the best paying customer service job in the city - cca 850 EUR Net per month

Cons

You arrive and being treated with direct, apparent kindness and helping care for the onboarding week. Do not believe it. They will show you the table soccer, pool table, workout room... You will never have a minute to use any of them, these are just for show-off. All sorts of free food in the office, once a week company lunch, breakfast, coffee, coke products and fruit are free every day. Until you have COVID and this all goes to nil, you work from home office, you get NOTHING, no perks, no transport pass, no cafeteria. You are being closely watched all the time, especially by your team lead. The team leads are generally twenty-something year old young girlscouts, who might be well versed in technical knowledge valid only if you work there, but absolutely incapable of humanely carry the role of leading people and dealing with real persons, especially of older ages. They will never protect you, or curious about your side of the story, but will help telling you off and discipline you for out-of-the-team claims. Team leads have the tendency to pick and promote freshly hired girls to team lead level, those with whom they find appealing. If someone is not promoted by the end of their probation, then probably he/she will remain in the same position forever. Do not worry, this does not last a long time. Some people are put to personal improvement plan (PIP), which means they are basically looking for a good reason to fire the person. Sometimes it follows probation time right away, and as the PIP includes the option to be fired for underachievement if the desired results are not reached. The desired level is calculated by having tickets reviewed by the same scoutgirls, who do what their girlfriend team leads ask of them, and 85% is the pass rate. You can fail a ticket for simply not writing it in the manner the reviewer thinks it should have been written, and also for not filling in a statistics category for a ticket the way the reviewer thinks it should have been. During the PIP session, which lasts a short two months, you are heavily micromanaged, they know about your idle time, the time you spend with a customer, the time you spend by writing scripts about customer calls, what you do on the company laptop, EVERYTHING. As you are on PIP, it is like probation time never ends, you are being threatened to be fired constantly. The most stressful and disgusting part is when they tell you how everyone only wants to help you only (utter lie) they tell you they have a feedback culture, so feedback has to be received and given as HELP (even bigger lie). However, if you try to make a remark of criticizm, you will realize that the feedback culture is a one way street, you should welcome it but should not practice it. Everyone at the company is at a higher rank than customer agents. They claim there are no managers, as there is a flat company structure, but this is just another major lie, everyone is your superior at any team, and you are treated by most accordingly. YOu turn for help to one of the currency management teams, and all you get is public shaming, then when you retort, you get a warning. This time it is not your feedback anymore, but you have 'communication problems'. They say there is no lunchtime, so you spend eight hours working and that is it, lunchtime is included. This is a lie, as lunchtime is there if you can manage to perfom the required number of tickets and still have ten minutes to eat something. I have never given wrong information to any customer and had lots of thank you letters from grateful people, but this is not what Transferwise, and especially the team lead girlscouts want. The job itself can be done OK, although it is VERY stressful, I never felt so tired in my whole life. TransferWise was a HORRIBLE experience, with daily practiced hypocrisy, a little bit like when we had to pretend we believe in communism, where you were forced to show the belief of their lies and get ashamed and humiliated by a 20 year old team lead girl on a daily basis until she manages to get you fired for not performing above 85% constantly. The expected number of tickets per hour were harshly increased in 6 months, it was raise from 5 to 6 in an hour (definitely no time to get lunch or do a number two) and even the task of removing sensitive customer data from emails was assigned as an extra task, which equals with about the time of finishing a ticket in an hour. If you miss removing the data (like phone numbers) then the ticket fail the review. To top it all, your team lead talks to you about your upcoming sacking as if it was 'unfortunately' an event like losing an entrance test for a TV quiz. No, damn it, this is about putting me to the street in the middle of the pandemic - while they kept hiring newcomers. At times there were not enough tickets to work on, but nobody really cared or tried to help you. I would not recommend working here to my worst enemy, unless you are a 20 year old girl with the soul, experience and attitude of a Japanese cartoon character.

Advice to Management

I cannot give advice to management as they claim the company works in a flat structure, there is no management then, right? Well, the culture you claim you have does not exist. The one that does exist is a nightmare.

They claim there are no managers, as there is a flat company structure, but this is just another major lie, everyone is your superior at any team, and you are treated by most accordingly.

10 November 2020

Reviewed by: Customer Support Agent in Budapest (Former Employee)

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17 English reviews out of 17