Pros
Overall, it's a good company to start your career in PR. Junior staff are a delight and were hugely responsible for the positive aspects of the culture across Wachsman's offices. Wachsman also provided good team socials and benefits such as WFH two days a week, birthday leave, a good pension, ClassPass and Cycle to Work scheme.
Cons
Concerns on the ability of senior management were ignored and feedback systems to employees were extremely weak, making promotions near impossible. As a result, it made it feel like colleagues were competing against one another and it would become a game of who could be the loudest voice in the room in order to have your successes noticed. Wachsman also had a tendency to hire externally, rather than offer promotions to their well-deserving staff. Promotions would take up to years for some and pay increases happen rarely. Wachsman also has an extremely high turnover of difficult clients, as a result of poor due diligence during onboarding processes. The crypto industry is home to some extremely big egos, and more often than not, it made client interactions very unenjoyable. There also seemed like very little support from senior management when dealing with extremely unrealistic client expectations, which were also sold as false promises during the new business stage. The crypto industry is a highly volatile space, and the hearing about the recent round of company-wide layoffs comes to no surprise. If people weren't laid off, they're looking to leave as moral has been so low for the last 12 months.