Elevate Credit Reviews

So many, but I'll attempt to boil it down to the worst ones: - Ethics - the core values are a joke. They did "think big" and push to "raise the bar." But to a fault. Goals were unrealistic leading to stressful situations, frequent firings, and unnecessary undermining of co-workers. But "do the right thing"? This company loans money at 300% to people for 5 years and many of the people who take the loans default. I would quote the appalling default rate, but it could be interpreted as a review violation. Just bust out a quick spreadsheet in excel and observe what it is like to be on the receiving end of one of those loans. They shouldn't even have "do the right thing" as a core value...it's not who they will ever be, nor does their product set out to be that way. Given your default rate, most of your customers are not "Good today, better tomorrow" after taking a loan with the high apr offered. And "win together" - co-workers were constantly undermining one another. I've never seen this at such a level and it was sad. Even after reporting these incidents to management and HR, the company promoted the offenders. - Management - the poorest I've ever seen. Micro-management, favoritism, lack of ability, lack of ethics....you name it, most managers were horrifically bad at many of these items. I couldn't tell if it all stems from the top, but the managers are pressured to hit unrealistic targets. They are given a lot of financial resources though. - Expectations - I personally think a lot of the negative experiences are from expectations. The company pitches itself as this saint in a sea of predatory lenders. They tell you they have these amazing values that guide their decisions. And when I was hired, management led me to believe they were a stable department and I would learn the business. It was nothing at all like any of that.

Contentious Industry - Be prepared to enter an industry where you are perceived to be a predatory lender that's often attacked by legislative and economic forums. You will be known as "legal loan sharks." As long as you're comfortable with that title, you're all set! Sinking ship - there's a reason why the stock price for this company opened low, and stayed low.There are many competitors in this arena: including companies like Marcus backed by Goldman Sachs, Avant, etc. who can all eat Elevate's lunch if they decided to open the APR rates they want to underwrite to. It is getting worse -- The attrition rate for a company in this industry (technology/finance) is literally 2x - 3x that of competitors. That should tell you everything you need to know. Additionally, the ratings for the company has been declining over the past year on glassdoor... red flag True colors show in unethical employee treatment practices - The company prides itself on doing the right thing, but being with the company for over 3 years I can say that they don't share the same standard they do with employees that they have for customers. I had people tell me their managers discriminated against them because they didn't speak english well, I've seen employees cry in the restroom because of stress, I've seen people given <24 hours notice before being a lay-off/firing, literally every quarter you wake up after the end and find a bunch of your friends are gone because they were fired. Nobody is safe! Every position from the CCO to frontline paralegal has been fired or conveniently "resigned without saying goodbye"... I would call it a joke if it wasn't so emotionally stressful.