Binance.US Reviews

3.5

54% would recommend to a friend

(82 total reviews)

Norman Reed

63% approve of CEO

37% positive business outlook

Binance.US has an employee rating of 3.5 out of 5 stars, based on 82 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Binance.US employee rating is in line with the average (within 1 standard deviation) for employers within the Information Technology industry (3.9 stars).

Reviews by job title

82 reviews
3.0
9 May 2022

"It's a start."

Anonymous employee
Recommend
CEO approval
Business outlook

Pros

- If you want to get into Crypto and get a foot in the door this is definitely a good start. Depending on the team you land on you'll learn quickly and have a good support team to help you. - Most of the People I've worked with have been awesome and there are a lot of very passionate people in the teams you work with. -Much of the CS team are really out to help you and we lean on each other a lot. -The work itself, when excluding the cons I'll get into later, is not super difficult. Some teams are very very time consuming and will take brain-work but you can pace yourself usually. - There is definitely a sense of community especially for those that are really into Crypto Currency and they're often willing to impart knowledge and very friendly. - Despite the cons the employees on the whole are largely laid back people. - Being able to be remote is a huge plus and the benefits are pretty decent.

Cons

Gonna be honest.... I love the people here for the most part but this place does needs work. - One glaring problem is there is a very obvious bias within the company the higher up you go. You either need to have been formerly with Comcast or Uber or somehow part of the inner circle to get much of anywhere. There is clear favoritism. - It starts becoming obvious when despite the people being hired being some nice people often times the knowledge isn't there. Nobody is expecting a blockchain engineer but at least have some Crypto knowledge. This goes for leadership. It seems the focus is more on hitting metrics and quality rather than solving the problems we come across faster which would go a long way for customer satisfaction. - For a company that needs a lot of people to help get things off the ground the time to get to someone about a position that you applied to is honestly god awful. Much of that was because there was literally one person in HR for a long time but even with an expanded team now it's a long time if at all that you're going to hear anything or feedback. When I got hired I actually forgot I applied two months prior before I heard anything and was hired for a full dollar less than what I was told I was going to get when I was in my interview. Also there is a lot of people who have referred people but if you're not in that aforementioned circle they're likely not getting looked at for along time no matter how qualified they are. Also a red flag was when we were told of open positions and to refer people we were told not to discuss the pay we make, which is illegal, they walked it back with saying whoever we referred may not make what we do so it wasn't a good idea to tell them what we make. So if you're going to apply make the effort to apply where you want to be and not focus on getting your foot in the door because you're going to have a huge uphill climb to get to another position and make sure you negotiate your pay. - There is a lot of centralized knowledge where there shouldn't be. Realize that you're going to probably learn your department's workflow for the one or two people who actually have the processes written down or took the time to learn and pray they're not on their way out the door. Thankfully when I started there was a someone there who actually did a lot of us a solid and gave us as much notes as they could simplify and has been a great help. Many of the people who really knew what they were doing or experts left to other companies or competitors so those left have largely collected what info they can. - It feels like the longer I'm here the more benefits get taken from us. We used to have bi-annual bonuses. When I got hired I was told they were between 10%-100% of your salary depending on metrics! However now they're gone, like completely. It's supposed to be calculated in the benefits package but compared to other competitors it's all pretty low, and by a lot. Also somehow our reimbursement/work from home stipend got cut because they didn't take taxes out so we effectively got a paycut on top of that. The idea of a COL adjustment if it happens at all is a mystery right now. Also the talks on equity has been ongoing for a long time now and it doesn't feel like there's much traction there. If there is it hasn't been clearly communicated. It's feeling more like the call center environments many of us left rather than a forward thinking startup we're being told we are and no amount of sugar coating is going to make that go away. We get there is a bear market but it also prompts the question, " What's the incentive to stay if we're losing money?" No exposure in the industry will make up for not being able to eat.

1.0
9 Mar 2022

Binance.US: A Nice Place to Leave

Anonymous employee
Recommend
CEO approval
Business outlook

Pros

* Serious character building - it's hard not to develop thick skin when the CEO and VP of Legal (both from Uber, both with no financial service backgrounds) are yelling, cursing, and tossing hyperbolic hubris at you about how much and who they know, and implying in their conversations with you/telling others how unqualified you are for the role *A finely tuned sense of humor - because if you can't laugh you'll cry *Team building skills - you'll learn to bond with your teammates and work together to man the wall every week against Shroder and his White Walkers until, inevitably, your watch will end *A BS in Psychology - You've always wanted to learn how to navigate the DSM right? You'll get a crash course in gaslighting, narcissism, and anxiety here, and leave with your own dose of PTSD

Cons

*Pay and bonuses for back office functions are a joke *All the people who know what they're doing have left or are in the process of leaving *Complete lack of transparency at all levels

avatar
Binance.US Response
4y
As always, would love to talk if you are open to a conversation. It's interesting how perspectives can differ so widely -- one of the reasons I joined a couple of months ago was because of Brian Shroder's background in financial services, and that he and several executives have seen and managed both massive scale efforts and regulatory challenges. I personally feel like we are in really good hands. I know that the bar here has been raised since Brian joined in Fall -- for performance, volume and speed. That isn't for the faint of heart, as you mention, and we know some people are going to find that things have changed too much for them. That's ok. You were included in our financial review at a recent Town Hall and I hope you can see the bright future that we have. We are separately reviewing the compensation of the team, as you know, and that will be an ongoing process. Our new Head of Total Rewards arrives in a few weeks to keep a pulse of market pay, to continue the uplift to the benefit programs, and to help with getting our equity program across the line. The regulatory challenges for us and all of our crypto peers are all part of the fun of being here. :). While this management team inherited some investigations, things are going well, our level of integrity is obvious to everyone, and we know that we're in the same boat as everyone in our industry. You don't have to worry -- we are setting a positive tone with the various regulators to ensure they get what they need and any issues they find are quickly resolved. Happy to chat more anytime -- please drop me a note.
1.0
12 Mar 2022
Recommend
CEO approval
Business outlook

Pros

- Job Security, they are always hiring. - Entry-level employees seem really interested in Crypto and love doing what they are doing. - Good for experience. If you desperate to get into crypto, and need an entry level position for your resume, this is a great place to get some experience.

Cons

- Unreasonable expectations of employees - Executives have not worked previously in crypto - Bonuses and Benefits aren't industry standard and are more inline with a Call Center - Entry Level employees are treated as disposable by a lot of executives - Ongoing SEC Investigations - Nepotistic practices which result in zero upward growth - Narcissism is very apparent - Toxic Workplace Environment I have never worked in an environment filled with such incompetency and narcistic, gaslighting behavior. On multiple occasions, certain executives are seen demoralizing staff with behavior that is not very workplace appropriate. I have witnessed bullying by executives several times to entry level employees. Management has also threatened to fire entire departments due to a lack of performance. Individuals have been warned multiple times by executives and HR not to share their salary (even though it is a protected status to do so) and have been met with aggression when that has been challenged. Tenured employees will only be able to move laterally to other departments but cannot move up - typically new management-level positions are handed directly to people affiliated to the executives on a personal, non-business level. Tenured employees are generally moving to a competitor like Coinbase or Kraken. Not working at Binance.US has allowed me to actually process what kind of a nightmare it was to work there. I have never felt so relieved and happy when leaving a position, it genuinely felt like getting out of an abusive relationship. I cannot stress enough the degree of textbook toxic behavior with the executives. Heed my warning, working here will leave you feeling mentally and emotionally devastated with no priority on your mental or physical health. If you are looking to get into the industry, get your foot into the door, then use this place as a springboard into other crypto and web3 employment.

avatar
Binance.US Response
4y
I would love to know more about your experience while in Customer Support if you have time to reach out (and I thank for doing so!). This has been our biggest area of growth in the last few months and I am sure we can do better. We have been proud of filling most of our CS roles with friends and family of other CS Specialists. We’re also quite proud of how many people have moved on to new roles in other departments. I do believe my team knows this is your right to share information -- interestingly, we only have one person in core HR at present (everyone else is in recruiting and onboarding) and he's a huge advocate of pay transparency. You have been helpful giving me more details of your situation with CS management so I do understand what happened and what needs fixing. I'm having conversations now to address what hopefully was an unintentional cause for consent but one that needs to be remedied for the future. Appreciate the insight. As you know, we are in the process of reviewing pay across the board and this has been my priority since arriving 3 months ago. It sounds like this review may have come too late for you and I’m sorry that the previous team didn’t address some pay issues earlier.
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Glassdoor has 95 Binance.US reviews submitted anonymously by Binance.US employees. Read employee reviews and ratings on Glassdoor to decide if Binance.US is right for you.