Lob Reviews

•Unlimited PTO is a scam. You are so overworked at this startup that you’re never really able to take time off. You will still be messaged while you’re “off.” •Overworked. Expect to work 10-11 hour days (and potential nights or weekends) just to survive. Also, if you tell your manager, expect them to blow it off and somehow still give you more projects or responsibilities. •Leadership sucks. The CRO quit, the COO plays favorites and is out of touch (although he acts like he’s 18), the CFO has favorites and is out of touch (most of the finance team complains about him and have either left or are looking) and the CEO is hated. •There are people dropping like flies. In the last few months alone, so many people have quit (Legal, Sales, Finance, are only to name a few). There are a lot more actively looking for work. •You won’t ever be valued and don’t expect raises or title changes. A lot of people get frustrated because they do the job of others or something with someone with a higher title would do, but their managers refuse to pay them that.

Teams operate in silos, this is a common view shared amongst those on the sales team. I’ll list these out based on topic. -Compensation: Salary is average. OTE’s appear high on surface level, however are unattainable- I’ll explain why. Sales people are paid on Net Revenue (a technology fee), even though the bulk of what the customer is paying are actual mail piece fees. As a result, deal sizes are very small. Average deal size is quite small and these deals are typically taking 7+ months. Furthermore, you are paid when the customer pays- this means, if the customer is paying monthly, you are paid monthly. This impacts OTE, because if you close a deal in Q4, you are only paid on 1-3/12ths of your actual commission. The remainder of that commission goes towards next year’s OTE. If you leave the company, they will stop paying you your commissions, even though the customer is contractually obligated to continue paying. The team joke is that if you’re calculating your commission, make sure to think of any loophole Lob can use to try to lower that amount, because that’s likely what will happen. And it does, every time. -Culture: Lob prides itself on it’s culture. Though this is heavily dependent on which team you belong too. Any positive reviews you see here are likely from the engineering team (the largest team, the majority being right out of school and are lead by a great manager) or recruiting to help with getting candidates through the door (this entire team left earlier this year). The culture on the sales team is that of constant disappointment. The company prides itself on diversity and inclusion, but this is far from what happens day to day. There is a very us against them mentality, admittedly so by the majority of the company. Leadership constantly makes promises, but never follows through. There is no clear leader for the team and the entire team is unhappy, as evidenced by the retention rate. -Leadership: Lob is a very top down company. Current sales leadership has voiced they are in agreement with all of the problems outlined above but have little power evoke change, as all decisions are really made by few parties. You’ll see in some of these comments, people have brought up the trust issues in management. This is true. Leadership doesn’t trust those they hire to make decisions, and frankly they don’t have enough experience to be making these decisions themselves. There are few people on the entire leadership team experience in the core function that they are leading. It’s a very young company, and the problems they experience exemplify this. All in all, it’s dependent on what you’re looking for in a company. But as a sales person in San Francisco, I would look elsewhere. There is no product market fit, no resources, and its very difficult to hit the goals to make the money you’re expecting to make. I urge you to do your research.