iwoca Reviews

4.3

78% would recommend to a friend

(213 total reviews)

Christoph Rieche

87% approve of CEO

84% positive business outlook

iwoca has an employee rating of 4.3 out of 5 stars, based on 213 company reviews on Glassdoor which indicates that most employees have an excellent working experience there. The iwoca employee rating is in line with the average (within 1 standard deviation) for employers within the Finance industry (3.7 stars).

Reviews by job title

213 reviews
5.0
4 Dec 2020

Good place to work

Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Great work culture including annual retreats

Cons

The management needs some improvement

2.0
1 Feb 2022

Challenging - but rewarding for some

Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Positives: - some very smart people to learn from if you are proactive - Opportunity to develop strong programming skills - exposure to lots of different areas in tech (this can be a bad thing too) - lots of interesting characters and a good social atmosphere - You will be well rewarded if you have: a) an appetite to take on unstructured, fairly risky new projects b) self discipline to manage your own projects c) the confidence to promote and defend the work you do - A challenging place to work - but if you back yourself there can be big rewards.

Cons

- Harsh feedback culture without enough thought going into career development frameworks. Very much "if you know, you know" culture in tech and analytics. - Deep-rooted aversion to "corporate BS" within higher management, which although is well-intended, ultimately undermines product and project managers, and makes the organisation of work chaotic and unpredictable. - Disorganised ways of working results in fragmented teamwork. Many people end up getting their head down and trying to do something useful by themselves. Easy to slip through the cracks. Shout about your work as much as possible if you want to be noticed, because there isn't the management framework there to disseminate and judge your work consistently. - There is an inner circle of experienced, very intelligent developers / data scientists holding management positions, who come up with interesting ideas for projects but fail to communicate or organise these well, resulting in continuously moving goal posts and shuffling priorities. - Constant emphasis on "entrepreneurial growth-mindset" and "being your own boss", which creates a clash of overconfident code cowboys and unempowered middle management. - Very good pay for a select few who's work and influence is judged, subjectively, to be outstanding. Below average pay for people who either do the more non-glamorous but essential maintenance work (e.g addressing technical debt) or simply don't make as bigger noise about the work they do. - People work long hours because of thinly outlined expectations and fear of harsh feedback. Pay is likewise below average in the industry. - Out of hours work culture. Tech management explicitly mentioned that being available to answer slack messages and deal with urgent work on the weekends was a valued asset (in context of promotions/pay rises) - Several instances of people being fired during probation. "Deep end" onboarding process.

1.0
25 Jan 2022

Toxic for minorities

Anonymous employee
Recommend
CEO approval
Business outlook

Pros

• 3x retreats a year that are a great way to get to know your colleagues and travel • Very active social life pre pandemic. Lots would hang out in the office regularly, big budget to spend on team socials, great summer and christmas parties • Frequent pay reviews and salary transparency for tech data and product • Lots of room for progression as the company was growing

Cons

• They "do a lot of things for D&I" but it's all smoke and mirrors. They might sponsor D&I events and bring in speakers for LGBTQ history month but the culture itself is toxic and exhausting if you're a minority working in tech. This comes from the founders, particularly the CTO. He shares sexist and transphobic rhetoric on Slack and argues bluntly about triggering topics, doesn't think empathy is useful or something he is capable of, doesn't like being criticised for any of this, and thinks diversity is only worthwhile if it makes you more money. I'm disgusted iwoca won a D&I award this year. • There's generally an aggressive culture in tech. This means they undervalue people who aren't naturally aggressive and give harsh feedback. As a woman in tech I was yelled at when things weren't going well, saw many other women in tears because of how they'd been treated and watched excellent women be consistently undervalued. • Barely any of the product team have been given the support and autonomy they need to do valuable work. They get shut down before they're able to spend tech time or tied up in big tech debt projects. The leadership team seems to think this is because they are useless. • Their tech infrastructure is a giant monolith that nobody really understands. They've spent years refactoring it to try and make it do something it wasn't designed for and now even less people understand it, and it's very hard to get anything done. • They insist on building internal tools when you could easily buy something much better

avatar
iwoca Response
4y
Whilst we are always grateful for feedback, I feel so disappointed to read this review and hear this was your experience. Your review covers a number of things, but mainly what I want to address are your notes on our approach to D&I. D&I is a really important topic for iwoca. Having an inclusive and diverse workplace is not only the right thing to do, it makes iwoca a stronger and better business. Our D&I mission is to create an environment where everyone feels welcome and respected, and where we can develop both personally and professionally here. D&I is also a complex topic. Many people feel passionately about it, and as with other complex topics, it is one that gets discussed and debated a lot. Those discussions can feel uncomfortable at times, however we believe that being able to share ideas and challenge each other’s assumptions is an important and effective part of the learning process. And when we challenge each other, we should do so with positive intent and also assume the same intent when we are being challenged ourselves. This kind of environment takes work and is hard - and if certain conversations don’t strike the right balance, we try to learn from that too. As a company, we believe that a diverse and inclusive environment is a prerequisite to learning, so it remains important to us and what we do. We strive to remove bias from our recruitment, pay and promotion decisions (e.g via calibration sessions; transparent salary bands; blind CV assessments). We strive to have open conversations across the organisation. We strive to build a place where everyone feels welcome and heard. We’re not always successful and I’m sorry you felt we failed you, but on our journey to achieving that vision we approach it absolutely with the best of intentions. Seema Desai Chief Operations Officer
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Glassdoor has 243 iwoca reviews submitted anonymously by iwoca employees. Read employee reviews and ratings on Glassdoor to decide if iwoca is right for you.