Revolut article in WIRED today - not good PR!


#41

Source?
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#42

They only higher senior engineers which in London make an average of 70k a year, last I checked.

I’m assuming that’s what the slack post is referring to team wise, as the other teams shouldn’t have goals as such, since their work will be more difficult to measure in a way of achievable goals.


#43

That doesn’t mean you’re paid better or have to work more than others in the industry.


#44

It does. If I make good money I’m going to be expected to work long hours and I’m going to be expected to be available.

When you get the high paying job and you’re making that money tell me if it’s any different for you.


#45

You said, they hire seniors. Seniors means only that they are experienced and therefore are paid better than juniors. It doesn’t necessarily mean they have to work more than others. You also still haven’t provided a source showing they actually pay top wages.

That may be true for upper management positions but not for the average team lead of, say, a couple of in-app support agents. The slack post is not specific enough to know who it is directed at. But the way it talks about firing these guys it certainly isn’t senior management or other key people.


#46

Seniors in London make real good money, trust me.

In a startup I’d say this is common culture and Nikolay has never suggested otherwise. Don’t apply for a job where the CEO literally states 12-13 hour days are common in interviews. That’s why you get your dinner on Revolut as a perk.

I don’t know anyone that works there to provide actual salaries, I’d suggest checking Glassdoor to see if you can find it roughly there. I think they can separate by job role but I’m not sure.

I’m pretty sure they’re making good money though. You don’t get 12-13 hour days out of people without good wages or a baseball bat.

I can promise you it’s aimed at team leaders and the people on those teams, as it mentions performance in them it’s likely to be engineers or something similar. Not guaranteed for sure, but likely.

Also, this could be the Russian branch of Revolut, which would be subject to different labour laws. Russia does have Revolut branches, the advertisements for the job is still in English.


#47

I don’t know why you’d think they are engineers. “Perfomance” is relevant in every project (deadlines, goals met) and department, like sales (new customers per quarter in country X), marketing (promotion Y performance), trading (FX), partner acquisition and deals (new deals for metal customers), legal (compliance goals, negotiations), support (# cases / hour; customer satisfaction scores), PR & communications (tweets, response times; blog posts; news articles in country Z) etc.


#48

Revolut doesn’t really do marketing outside of London so I don’t see them setting them proper targets besides “make ads and run them”

They use a partner for this :slight_smile:

I don’t think they’re currently looking on expanding the metal tier feature wise. They already have the boxes checked, they’ll probably just try and improve how they work. They’ll want many more people signed up before they can negotiate other partners and still be profitable.

Yes. Valid, but you’re not going to have team leaders here with targets as such are you? You might have a legal team and someone to manage you, but there’s not really a set way to set goals for this department.

For instance, compliance is a legal issue but it’s going to be down to the engineers to implement the systems to be compliant. The legal team is there to interpret what kind of systems would be required for the compliance.

As for negotiations, with who? Who are the legal team going to be negotiating with? Government bodies? They don’t do much negotiating. Just dictating and telling you what you need to do.

Cases an hour is an awful metric. It doesn’t test how good your customer support is, just how fast it is, so I don’t see them being set this kind of target.

Can we also mention that working extra time wouldn’t change their cases an hour nor their customer satisfaction.

No one sets their Social Media team an amount of tweets and tells them to make it up on weekends.

They don’t tell them to make up response times on weekends for the same reason that it literally changes nothing.

Blog posts? Maybe, but there’s not always things to write about. I’d say it’s much more likely they’re told what to write about from a team leader and they get writing. That’s it. Their deadlines will be fixed for each article, not forever changing targets.

To answer your question, because it’s clear to me that engineers is the only one that fits properly, and it’s also a field where you can see people working 12-13 hour days when your entire business is based around engineering, in a sense.


#49

I disagree. Earning good money (which is different from making money) is usually the result of being productive; it doesn’t usually result from sitting around in the office being seen. Those on high incomes are not paid more because they work longer hours, but because they use the hours available more productively than others.


#50

I don’t even know where to begin. But I guess I’ll just let “there’s not always things to write about.”, “As for negotiations, with who?”, “Revolut doesn’t really do marketing outside of London” (have you read the article?), and actually everything else just speak for itself.

If you know one thing about the financial industry, then it is that they just love to measure employee performance. And it really has nothing to do with engineering, they just like to assign quality and quantity goals to all kinds of work and projects and to grade performance. Read more here: https://blog.revolut.com/this-is-what-makes-up-our-secret-sauce/


#51

I disagree. You may happen to be productive, but in the end you’re typically paid for being available to sort someone else’s problems out at all moments of the day.

As an example, head engineers for Discord get paid good money. They’re on 24/7 call and have very loud phone ringtones so if they need to get to the office to sort a problem that the night staff can’t solve, they can.

Same with my uncle, he gets regular calls outside of work hours and as a result he makes good money. He personally isn’t liking the money more than his quality of life outside of work though, so he’s thinking about giving it in.


#52

No, that’s not how it works in financial services IT. Typically those who work on projects, designing and building new functionality (who are sometimes called change-the-bank or CTB) are different people and teams from those who provide support (who are sometimes called run-the-bank or RTB). Only the latter need to be responsive in the manner that you describe. The exception is after a go-live of new functionality or when something serious goes wrong. The skills and mentality are very different too. Whereas the former are more proactive, the latter are more reactive.


#53

#54

What a shame Nikolay had to cave in to the people attacking a work culture :man_shrugging: targets mean a lot. If Revolut kept their employees working like that, we might have a few of the features promised to us in February of 2018.


#55

Or maybe the culture is the reason for not having them.


#56

I highly doubt that. This is why the USA does so well in terms of monopolies. They can outdo European companies every single time because they can work their employees hard.


#57

He hasn’t caved in. He says that the mistakes were historic - 12 to 18 months ago. He hasn’t changed the culture as a result of the recent bad publicity. He had already recognised the mistakes and put them right a long time ago.


#58

I’ve worked at one of those american “monopolies” in silicon valley. I had great work-life balance, and in fact, in my experience, those large, successful companies tend to work their employees less hard than smaller companies.


#59

The Verge also picked up the story a couple of days ago, and the fact that it’s spreading around the media might have been what prompted Storonsky’s blog update:


#60

I assure you some people are on call in case of emergency, they might get paid overtime for it but they’ll be expected there no matter the time.