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Seneca One Finance

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Seneca One Finance Reviews

2.9

39% would recommend to a friend

(80 total reviews)

Brian Javadpour

32% approve of CEO

28% positive business outlook

Seneca One Finance has an employee rating of 2.9 out of 5 stars, based on 80 company reviews on Glassdoor which indicates that most employees have an average working experience there. The Seneca One Finance employee rating is 22% below average for employers within the Finance industry (3.7 stars).

Reviews by job title

80 reviews
1.0
21 Aug 2018
Recommend
CEO approval
Business outlook

Pros

Free bagels once a week.

Cons

Well, let's start with the fact that these guys take AT LEAST 3% commission off the top of every deal. You wouldn't know it unless you've worked at a competitor and are familiar with ACTUAL deal funding rates, then you'd see things fund closer to 5, not 8. Besides the fact that everyone is under paid, never given a raise, only men get promoted, and you literally could be fired at any point in time, in one of their mass executions, you also have to deal with the firecracker CEO. Now, by firecracker, I don't mean he's exciting and everyone loves him. Literally the opposite. He's unpredictable, explosive, and dangerous. All SOF employees know how he is - let's say he's always awake, paranoid, and rambling. Travels to Mexico a lot. Has a lot of money, but the company is STRUGGLING. I mean he can be downright intimidating while you work there.. but then you realize he's just got a big mouth, and a failing company. ¯\_(ツ)_/¯ As if all that weren't enticing enough, SOF enjoys litigation! They get sued all over the place by clients who they scammed money off of, like a lottery winner in CA that had dementia when they "helped" him sign all his payments away. And they love to sue back! Anyone who works there can't work in the industry, for 2 years, in the entire USA after they leave or get fired because of their very broad non-competes that you are required to sign, OR you get sued for millions! Not sure why though, because apparently it's fairly easy to take their database considering the amount of people they've sued for "stealing" it. So the moral of this story is: Make your employees scared of you and then make them leave reviews on Glassdoor so that no one can see how messed up your company really is!

1.0
8 May 2019
Recommend
CEO approval
Business outlook

Pros

No pros at this time

Cons

Terrible pay with limited upward potential. You will be fired for going above and beyond at your job, particularly in processing and sales support roles. Upper management (specifically the owner) expects everyone to do exactly as they're told, and punishes anyone that attempts to do anything proactive or innovative with unemployment, claiming you "don't fit in with the culture".

1.0
29 Apr 2020
Recommend
CEO approval
Business outlook

Pros

- Nice location (downtown Bethesda, garage covered parking, metro accessible and plenty of restaurants/deli's nearby) - Free monthly parking pass or metro card - Very easily to get hired as long as you're willing to accept a low base pay. It's a big reason why they only target recent college graduates. - Up to $105 gym reimbursement every quarter - Casual dress code - XMas party every year - 8 to 9 federal holiday's every year - As an employee, you can earn a referral fee for bringing in a new hire. But the new hire has to be employed for at least 90 days.

Cons

- Very low salary. Base pay for a sales reps is 35k plus commission but the commission comp plan is dreadfully low. - There are no annual pay raises/bonuses since 2012 - No 401k match - There are mass lay-offs throughout the year. The turnover rate is ridiculously high. I have personally seen hundreds of people come and go. In 2018, Seneca One closed their FL office and fired everybody in that office. Also in 2018, the company fired almost all of the executive team and the majority of the sales team. I repeat... ALMOST ALL of the executive team (including the COO, CMO, CFO, CRO and 2 VP of Sales) and did not replace them. The company also fired the majority of the executive team in 2015. Please be aware. Don't say I didn't warn you. And don't be surprised if it's somebody you got to know really well or even yourself. - Major financial cutbacks. The company has pretty much stopped all direct-mail marketing because of the high costs. Executives had to get a pay reduction in-order to remain with the company or risk termination. They are limiting the about of travel a sales rep can make to clients. If a rep does travel, they have a very strict policy on how much they can spend. They even stopped serving donuts and bagels on Monday's. - The company has blocked or limited our access to the internet. No more social media, sports, shopping, youtube, weather, etc. - The company cut off access from a lot of co-workers to remote-in and work directly from home. Apparently, they want you in the office or don't come in at all. There's only a handful of people in the office who has the ability to work from home. - Sales reps are no longer able to price their own deals. Only the sales manager has that capability. That's unfortunate because if a rep has a client on the phone, they will not have the immediate ability to see how much they can offer the client. - There are limited company get-togethers, happy hours and corporate events. At the peak of Seneca One many, many years ago, there were monthly company events. - There is a vending machine in the kitchen but the drinks are not cold, bags of chips always get stuck and the machine does not accept dollar bills. - Cost of insurance (health/dental/vision) rises every year. - You cannot advance your career at Seneca One. The CEO will bring on an outsider rather than promote within. If there is an in-house promotion, it's only with a new flashy job title and absolutely no pay raise associated with it.

Viewing 1 - 3 of 80 Reviews

Glassdoor has 83 Seneca One Finance reviews submitted anonymously by Seneca One Finance employees. Read employee reviews and ratings on Glassdoor to decide if Seneca One Finance is right for you.