***Before I say anything, check the variance between the Atlanta office reviews and the California (Auburn) office reviews. That says most everything you need to know.
Despite the "pros" I'm still rating Riskalyze as a 2-Star opportunity (1.5 stars would be most appropriate). Here's why I would not take a job there if I'm hoping to use Riskalyze as a stepping stone into the fintech, SaaS, or software sales worlds:
1. You don't make *even close* to what they tell you that you will make. Riskalyze recruits with an $80k OTE for "Account Executives" or "AS Reps" or "Advisor Solutions Consultants" or whatever they put on LinkedIn. All of those roles mean the same thing -- my guess is they change the title so that it makes using GlassDoor harder on potential hires. Regardless, they recruit with a $40k base and $40k OTE bonus -- but almost NO ONE is hitting it. When I was recruited I was told that the top representative in the company was on track to hit (I believe) $190k -- I can't quite remember). I was told that if I worked hard, was entrepreneurial, and put in the hours, that hitting the OTE number would be relatively easy. This is not true. Nearly no one is on track to make $80k in a sales role at Riskalyze. In fact, the person that was "on track" to make $190k was only on track to do so because they had one monster quarter in Q1. Since Q1, that person has done well, but not $190k well. Meanwhile, no one on the sales team in either California or Atlanta is likely to see anything close to $80,000 this year. As a **very good** new rep in Atlanta, your expected earnings are likely about $55k -- with a majority of reps struggling for to hit even 50% quota each quarter.
2. You don't get any commission check if you don't hit at least 50% of your quota each quarter. This means, that if you make Riskalyze 49.999% of quota for a quarter, you get nothing. They still get to keep the money you made them, but you get nothing. This happens quite frequently. In fact, a majority of the sales team in Atlanta got $0.00 in commission for Q3 2017. Remember, you only make $40k in base.
3. There is a MASSIVE problem with lead flow. Quite simply, Riskalyze can't provide quality leads to the SDR team. The SDR team is primarily responsible for booking sales calls for the Sales Reps' calendars. This means less overall appointments and less chances to actually make the money you're recruited with. For reference, a rep probably needs 25ish sales conversations per week to hit their quota -- right now, Riskalyze is able to get you about 8.
4. The pay scale is so low that it kills your ability to make money. Here's what I mean by that -- Riskalyze pays an incredibly low salary relative to its competition. SDRs are recruited with an OTE of $40k, but remember, no one is hitting that number, so they're making about $23k/year. This is about $11.50/hr for people with college degrees. It's unlivable, at least in Atlanta. This leads to incredibly high turnover in the positions most responsible for making reps calendars full of appointments -- the net effect is constant new blood that doesn't really know how to get appointments on reps calendars and this means very poor probability of hitting quota. Sales reps, on the other hand, make just $40k in base per year -- which is among the lowest in the industry for the position. So, while the SDRs are unable to fill your calendar due to lack of quality leads and inexperience, you're making just $40k per year.
5. The final major "Con" is that there's no end in sight for this mess. The strategy does not seem to be changing, the data is not improving, nor is morale, nor is the pay scale. Leadership deflects away from real issues brought up by their employees and pivots toward things that sound good on a PR soundbite. I would not trust the leadership's vision and do not believe the company can continue to exist in its current form. It feels almost inevitable that it will be either A) acquired by a bank/trading platform or B) bought at a deep discount by a private equity firm when it can't make payroll.
6. Bonus point #6, the company does not know how to roll a product out. Every product other than the core product has had an abysmal rollout that has been full of problems -- and none of them have made reps any money. The newest one, AutoPilot, has been no different. I only bring this point up in case you are being recruited on the promise of a big pay day thanks to AutoPilot. It hasn't happened so far, and will not ever happen, provided they keep the commission structure for AutoPilot in place.
7. Bonus point #7 -- there is no trail. You get paid on money one time, regardless of how long the customer (or group) stays with Riskalyze. That means, you could make them hundreds of thousands of dollars, and you get paid exactly once, and it counts toward a quota that you may not even get a portion of if you don't hit 50% -- something that largely rests on their shoulders.
