N26

1.0

Feb 11, 2020

Anonymous employee

Recommend

CEO approval

Business Outlook

Pros

- Working with a diverse group of talented colleagues. As the company pushed beyond being a small startup last year, some more experienced hires were made. Unfortunately most of these people are gone, as the business struggles to keep experienced hires. - Still a great place to start your career if you are a graduate. Many interns and working students enjoy a fast-track to making an impact, and they are less likely to care about the terrible N26 pay. - N26 still seems to be a reputable brand in Berlin from the outside.

Cons

- Oddly slow pace for a startup, there are new hires from stuffy traditional banks who are used to faster processes. Decisions aren't made and uncertainty engulfs the culture. Transparency is non-existent. - Incredibly high turnover, even for a startup/scale-up. How so many people can leave (even without a next job lined up) is alarming. Look beyond the company's chosen top 'featured' glass door reviews for a more accurate image! - Questionable moral compass. Founders and leaders seem to care as little about their employees as the customers they're ripping off. No clear stance as a company or brand, no CSR play in sight. No creative campaigning or storytelling, just the same old cards as all the competitors, coupled with a sub-par app. - Immense pressure trickles down from the top. The business is still reeling from two failed market launches outside of Europe, whilst the product itself has seen zero innovation in the last years. What was the cool new disruptor for Germany is actually not so disruptive anywhere else, and the panic to fix this is really felt. - Delusional decision-making shows how out of touch the Founders really are. They seemed surprised when no one took advantage of their ESOP scheme, and thought senior hires would be ok with them placing a 26year-old friend of theirs as a new C Level direct report (or most likely, they just didn't care either way).

N26 Response

It’s unfortunate to hear that your experience with us has not been a positive one. We will address your concerns here, and also invite you to get in touch with us directly to keep the conversation going. Last year we went through a period of hypergrowth, which saw our employee base grow significantly to support all teams in meeting business goals. Understandably, that type of environment is not for everyone. It can be challenging for even the most experienced individuals. This is why we assess resilience during our recruitment process, and ensure that candidates have a complete view into the challenges of the role they are applying for. This work continues now as we look to fill key, strategic roles. Like every company there is always a level of attrition that sees people move on to other opportunities. We look to counteract this with new initiatives to help our employees with their work-life balance, and continue to develop programs and processes to support professional development. We have introduced new internal communication channels and adjusted meeting formats to make sure all of our employees are receiving up-to-date information about our plans and our overall objectives and key results. These meetings are intended to provide clarity and transparency to all employees on the decisions being made, and to allow an open forum for people to provide feedback and ask questions to our leadership team. If you have suggestions on how we can continue to build a great place to work, you can share these anonymously in our employee engagement survey, or reach out to the Organizational Development Partner for your area. Thank you.

In Nosedive - Anonymous employee N26 Employee Review

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