iwoca Reviews | Glassdoor.co.uk

iwoca Reviews

Updated 8 April 2019
54 reviews

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4.6
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Christoph Rieche
45 Ratings

Employee Reviews

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Pros
  • "The bosses are willing to consider flexible working arrangements if deemed necessary" (in 9 reviews)

  • "Highly dynamic, fast-paced, hard working environment" (in 6 reviews)

Cons
  • "Career opportunities exist but are less numerous than in a bigger corporation" (in 3 reviews)

  • "iwoca is very fast paced and always changing/improving, this suits me and the people who work here, but it may not suit everyone" (in 3 reviews)

More Pros and Cons

  1. "Great company to work for!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in London, England
    Current Employee - Anonymous Employee in London, England
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at iwoca full-time (More than a year)

    Pros

    Lots of opportunity to be promoted, positions generally filled internally.
    Really friendly staff and great social culture.
    Office in good location with food, drinks and games provided.
    Regular pay reviews and great benefits.
    Upward feedback is encouraged and everyone's opinion is valued.

    Cons

    There can be friction between different departments within the business.
    Some people are too competent for their roles meaning they are not always challenged.

    Advice to Management

    As the business grows and becomes more corporate, it is vital that the values the business has been built with remain in place.

    iwoca Response

    9 Apr 2019

    Thank you very much for the great review. Your feedback is really valuable to us - we need to know what is working and what we need to get better at.
    We're delighted to see you are enjoying your... More


  2. "Great for the ambitious and hard working"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in London, England
    Current Employee - Anonymous Employee in London, England
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at iwoca full-time (More than a year)

    Pros

    Great culture and benefits package
    Fantastic team of people and opportunities to make friends
    Room for personal development - great for the ambitious
    Company trips and regular events
    Never a dull moment

    Cons

    Occasionally long hours
    Sometimes a lack of work structure
    A lot required of individuals (although this is great for some people)

    Advice to Management

    Lay out expectations early on and treat all staff as equals - oversight can sometimes feel like dismissal of ones concerns

    iwoca Response

    9 Apr 2019

    Thank you for your review! It's great to hear your feedback - we really appreciate it.
    It's really helpful to us to know what is going well and what we can improve.
    Thanks for taking the time... More

  3. Helpful (2)

    "More struture needed."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in London, England
    Former Employee - Anonymous Employee in London, England
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at iwoca full-time (More than a year)

    Pros

    Office location.
    Coffee + Treats available in the office.
    Colleagues are friendly and business has an informal environment.

    Cons

    Low pay, no benefits, long hours.
    No development plan for employees.
    Fake promises of bonus, that was never receveid. Was promised a raise, that also never happen.
    No regular 1-2-1 meetings or feedback, this makes personal development hard when you see other progressing and you are not. You don't know what you need to improve.

    Advice to Management

    Staff in general is very young and this leads to some chaos in the workplace. Even though people work really hard, its hard to focus on your own job when you have people playing balls games around the office. Business needs more mature people in certain roles, to manage behaviours in the workplace. Management needs to be closer to employees and not be in different offices/floors. No females in higher positions, which doesn't demonstrate equal opportunities. Management needs to invest in more mature people, young people out of Uni means low wages and you can't run far with a business, w/ this strategy.

    iwoca Response

    25 Mar 2019

    Thank you for your review -we take your feedback seriously. I am sorry to hear that your experience at iwoca was mixed. I would love to talk to you to understand some of your comments in more... More


  4. "Fun and engaging fin tech"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at iwoca full-time

    Pros

    -Pay reviews
    -Nice office
    -Lots of socials
    -Flexible working available
    -Company growth
    -Referral schemes
    -Lots of new projects constantly

    Cons

    -Not really a con but very much start up environment/ minded so expect things to change often and quickly
    -No medical/health benefits but these are currently being looked into so fingers crossed!

    Advice to Management

    -Try to encourage communication across all departments better

    iwoca Response

    6 Mar 2019

    Thank you for your review! It's great to see your feedback and advice to management and we will definitely work on it .


  5. "Great place to work!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Client Onboarding in London, England
    Current Employee - Client Onboarding in London, England
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at iwoca full-time (Less than a year)

    Pros

    Really friendly, fun and dynamic work environment. Some really nice perks like breakfast in the morning (not basic toast and coffee, actually really nice breakfast options) access to work retreats in the summer and winter as well as options for flexible working and working from home a couple of days a month.
    Management are caring and engaged and genuinely take interest in employees, so if you have career inspirations (even if they're outside your current role) they will do what they can to help you achieve them.
    Great feedback culture, everyone is encouraged to share their feedback and people are actually listened to as changes following feedback are not uncommon.

    Cons

    Honestly can't think of any

    Advice to Management

    Keep listening to your staff and helping as much as you can

    iwoca Response

    6 Mar 2019

    Thank you for your review! We really appreciate your feedback.


  6. "Great place"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at iwoca full-time

    Pros

    flexible, fun, fast-paced, progression, rewarding

    Cons

    I don't have anything negative to say.


  7. Helpful (1)

    "Lots of opportunity to grow"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Analyst in London, England
    Current Employee - Business Analyst in London, England
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at iwoca full-time (Less than a year)

    Pros

    • The people at iwoca are friendly, smart, and generally great to work with. I think this is a lot to do with the fact that iwoca strongly considers cultural fit in the hiring process, which means that regardless of their experience or skillset somebody that would have a negative impact on company culture isn't considered.
    • There's a lot of opportunities to make the job your own: there's freedom take on the kind of tasks that interest you or that you feel will add the most value.
    • While there's some hierarchy, it doesn't get in the way of people contributing their opinions and ideas. Everybody's contributions are valued equally and you're encouraged to challenge each other - even if the person you're disagreeing with is your manager or the CTO.
    • There is a formal quarterly feedback process, which means that at a minimum you are able to receive and give others feedback on performance every three months. That said, it's encouraged to give/ask for feedback more regularly than that.
    • The People Ops team have been introducing a lot of resources/schemes to facilitate the learning + development of employees. This includes training managers about how to better manage and deliver feedback to their teams.
    • Team leaders make an effort to be transparent about how their teams are performing, what's happening with the general business, whether we're on track to reach company wide or team goals, and whether there's anything new/important on the horizon for iwoca.
    • The perks are pretty great too - food/drink in the office, regular retreats abroad, pool/foozeball/table tennis, cheaper climbing passes, discounts on gyms and restaurants, yoga classes, pension scheme... etc.

    Cons

    • You're expected to work very independently and figure out what it is you should be doing in order to add the most value, and there's not always a huge amount of guidance available to help you to do so. This is quite intimidating when you first start and don't know huge amounts about how the business operates, but you figure it out after a while.
    • Working hours can be quite long, making a work/life balance harder to maintain.
    • Senior management are crazy busy (which is true of everywhere), so it's difficult to get face time with them.

    Advice to Management

    iwoca has made a huge effort to maintain a positive working culture and empower its employees over the past year... Keep doing that. Make sure to regularly ask employees what they're scared of losing as we grow, what they really value about working here, what they don't like, and respond to that feedback accordingly.

  8. "Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Manager in London, England
    Former Employee - Manager in London, England
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at iwoca full-time (More than a year)

    Pros

    Amazing team, solid leadership, interesting technology challenges and fast growth.

    Cons

    The natural ambiguity of a young company might not be for everyone.

    Advice to Management

    Keep doing what you're doing, and don't stop striving for even stronger staff engagement.


  9. Helpful (3)

    "Open, honest, happy and progressive"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in London, England
    Current Employee - Anonymous Employee in London, England
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at iwoca full-time

    Pros

    Full transparency on all levels
    Changes implemented quickly once proofed.
    Brilliant Offices
    Progressive outlook
    Amazing perks-incentive to work hard
    The best people.
    Lots of CPD

    Cons

    Expect long hours(but they go quickly)
    Steep learning curve to the non-tech savvy

    Otherwise, should have applied sooner.

    Advice to Management

    Keep the people incentived, educate them more, keep them happy and they will stick with you.
    Keep doing what you’re doing.

    As-hoc surprise bonuses would be great too.


  10. Helpful (12)

    "All that glitters..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at iwoca full-time

    Pros

    summer/ winter house, large office in good location, plenty of good food in the office, the quarterly rocket awards are a fun way of "spending" the perks-budget.

    Cons

    Inexperienced managers who see micro-management as the cure for everything. When things go wrong the whole company starts a massive blame game and gets a speech from the CEO along the lines of: you need to work harder.

    There is a back-stabbing mentality all around. Outside hires are preferred to developing existing talent and the turnover rate shows. The departments barely communicate with each other, let alone collaborate or work with each other. Especially tech and operations have close to no interaction.

    Advice to Management

    Less hypocrisy and more treating your people like adults. They may choose to behave as such.