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      Payhawk

      Engaged employer

      Payhawk Reviews

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      3.7

      68% would recommend to a friend

      (108 total reviews)

      Hristo Borisov

      78% approve of CEO

      63% positive business outlook

      Ratings by category

      3.8

      Compensation and benefits

      3.7

      Culture and values

      3.6

      Career opportunities

      3.5

      Diversity and inclusion

      3.5

      Senior management

      3.2

      Work/Life balance

      Payhawk has an employee rating of 3.7 out of 5 stars, based on 108 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Payhawk employee rating is in line with the average (within 1 standard deviation) for employers within the Finance industry (3.7 stars).

      Ratings by demographic groups

      Reviews by job title

      108 reviews
      1.0
      Sep 7, 2023

      Melting point: surviving the heat of Payhawk's toxicity

      Anonymous employee
      Recommend
      CEO approval
      Business outlook

      Pros

      - One of the few positive aspects of Payhawk is its competitive salaries. All of their European offices offer high salaries compared to the rest of the market. - They hold company events twice a year in Bulgaria. - Some colleagues are very friendly; you'll need them!

      Cons

      If you're on the lookout for a place with awesome vibes, cool perks and a decent work-life balance, I'd suggest you give a second thought before jumping into Payhawk: - Micromanagement: get ready for the "micromanagement extravaganza." It's not just your everyday kind – they've got eyes on you from every corner, all the way from mid-management to C-level. - Employees fear giving feedback. - Poor work/life balance, for not saying non-existent: There is NO working from home policy - you will have 1 day per week only. Also forget about working from other countries. - No culture whatsoever and they won't do anything to fix this. The HR department has vanished. - 0 benefits: no healthcare, no mental health care, no flexible work. No stock options plan, only reserved for mid-management and C-level. Anyway, don't bother, the valuation of the company dropped significantly - they call themselves a unicorn when they are actually a pony. - Lack of employee growth/progress, again, for not saying non-existent. The only people who receive promotions are those that uplift themselves by using others. Forget about career growth. - Cliques, gossip and rumors run rampant. - There is no appreciation or recognition, no one will come to you and congratulate you for your hard work. Instead, they will compensate you with more work. - There’s high employee turnover because of all those previous reasons, no one stays more than 2 years. Either because they are burnt out or they fire them before their probation period ends. They will use all your energy and when you feel completely empty, they will let you go.

      1.0
      Jan 16, 2024

      How to do worse ?

      Anonymous employee
      Recommend
      CEO approval
      Business outlook

      Pros

      There are literally no pros except the base salary which is slightly above market.

      Cons

      How to begin? Issues arise in the recruitment process, particularly concerning the accuracy of information about remuneration (commissions) and the work-from-home policy. Remote work is limited (only one day per week), and there is unpredictability as the CEO may abruptly decide to eliminate all work-from-home days without prior notice, setting a precedent for the leadership dynamics. Micro-management by the CEO is prevalent, and in cases where it is not, inexperienced managers lacking the knowledge to oversee a scale-up or launch operations in a new country take charge. The competitiveness of the product is compromised due to pricing strategies and ineffective marketing, resulting in a notably low quota attainment among Account Executives. The company follows a hire-and-fire mentality, requiring Account Executives to achieve 100% of their quota after the third month. Constant changes in internal processes and policies occur, often serving the interests of top management. No clear evolution path is evident, except in rare cases, as rules are constantly changed. There is a lack of utilization of bottom-up feedback, leading to a persistent misalignment between company practices and market realities. Expressions of dissatisfaction are dismissed by the CEO, who often resorts to the argument, "If you don't like it here, go somewhere else," reflecting a backward mentality that considers the company as the only factory in the village with ultimate authority. Lastly, an employee was terminated via video call by a top manager in an open space, with the manager audibly expressing satisfaction immediately after hanging up.

      avatar
      Payhawk Response
      1y
      Thank you for your review. We are sorry that you had a negative experience working at Payhawk. Regarding recruitment processes, it is our priority to provide candidates with accurate information and set realistic expectations. For example, regarding work-from-home benefits, all employees have access to the following, which provide flexibility whilst maintaining our work-from-office culture. 1) Work From Home (WFH): Employees are allowed to work from home for four days per month. 2) Exceptional WFH: Managers can grant additional work-from-home days in exceptional cases (e.g. family reasons, transport issues). 3) Work from Anywhere (WFA): Employees have 12 days per year to work from anywhere in the world. 4) Hawks and Travel: Employees can spend 1 week per year in another Payhawk office of their choice, with a budget paid by Payhawk of up to 1800 EUR. We acknowledge that processes were lacking in some areas of the business during your tenure at Payhawk. We also acknowledge that this can sometimes be disorienting and result in inefficient work. While this is normal for a fast-growing company like ours, we appreciate that this can be challenging. I’m confident we’ve made significant improvements since you worked at Payhawk, however, introducing new processes and strengthening existing ones will continue to be a priority for management. We are working very hard to provide further support for employee career development. Recently, we launched career ladders for all roles, mandatory training for all managers, and a company-wide Learning and Development program. We are also working on a social initiative program. Finally, we are committed to our core value of “Radical Candor,” which promotes honesty and open feedback. Although these values can be challenging to nurture, we strive to ensure everyone’s opinion is heard and acknowledged. We conduct a 360-degree feedback process and an anonymous Employee Engagement Survey twice per year and have a platform for anonymous feedback on demand. Many of our decisions are based on employee feedback, and we encourage everyone to share improvement ideas constructively.
      1.0
      Feb 23, 2024

      Toxic workplace and worst attitude towards employees I've ever seen

      Senior software engineer
      Recommend
      CEO approval
      Business outlook

      Pros

      Interesting product and slightly above average market compensation (if you have the luck to be approved at the desired level and later meet the position's requirements)

      Cons

      Toxic workplace environment. The employees are very good at their work, most of them are very friendly. Everyone is afraid of giving true feedback, but instead giving "proper" feedback to various internal surveys because they're afraid of retaliation. And they're right about it. Everyone is listening to every word, even for a simple work conversation and then being used against you out of context. “If you don’t like it here you’re free to look somewhere else” mentality. The company force you to come to the office, no work from home option. Although they’ve promised fair allocation of the limited parking slots available when they moved to their latest office, all of them have been fully and permanently reserved. There’s a dedicated chat channel for announcements when someone is not going to use a particular parking spot for a given day and immediately someone else takes it. Like pidgins fighting over bread crumbs. Hire-and-fire mentality, expecting you to reach your full potential for your role on the 2nd month, based on the company’s competency framework. Even though they hire only the best candidates, only truly exceptional ones pass the trial period. There are less and less candidates willing to work for them, despite the high salary. If you take a look at the job ads online they’re staying open for months. Several guys have being fired without notice or during trial and all of them were great developers and they were really fresh and cool guys from soft skills perspective. Extremely high turnover for such an IT company. No one stays for more than a year, they either leave because of burnout or not meeting company’s high expectations. It’s good that at least the current ones are really helpful and give you the information you would need to finish your work. Afterwards there will be no appreciation or at least one “good job!” statement.

      avatar
      Payhawk Response
      1y
      Thank you for providing detailed feedback on your experience at Payhawk. Indeed, we are proud to have remarkable R&D professionals onboard. We cherish their immense effort and invaluable contributions to our product. Their dedication and innovation drive our success. We wanted to clarify that only a very small fraction of our R&D team decided to leave voluntarily in 2023 (you can count them on one hand!). We strive to maintain a highly talented, motivated and collaborative workforce. As a result we spend a long time looking for the right people and monitor performance against a transparent framework to ensure all employees maintain a similar standard. We believe this is necessary to maintain our high-performing culture. We conduct regular employee surveys to help managers improve based on employee feedback. These surveys are anonymous to make it easier for individuals to provide candid feedback. In addition, we promote “Radical Candour” as one of our company values. It is a communication model that emphasizes both caring personally and challenging directly to build solid and effective relationships. We hope it encourages employees at all levels to provide and receive open feedback. We are an office-first company because we consider it to be an important part of our culture, and an important ingredient to help us grow and solve problems quickly together. However, we also understand that there are times when the flexibility to work outside of the office is valuable. That’s why we provide the following four benefits: 1) Work From Home (WFH): Employees are allowed to work from home for four days per month. 2) Exceptional WFH: Managers can grant additional work-from-home days in exceptional cases (e.g. family reasons, transport issues). 3) Work from Anywhere (WFA): Employees have 12 days per year to work from anywhere in the world. 4) Hawks and Travel: Employees can spend 1 week per year in another Payhawk office of their choice, with a budget paid by Payhawk of up to 1800 EUR. Finally, in addition to the feedback provided above, I would appreciate the opportunity to have a more in-depth conversation with you to understand your experience and concerns about the culture. Such feedback is very important to us. Please feel free to reach out via people-partners@payhawk.com
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      Glassdoor has 130 Payhawk reviews submitted anonymously by Payhawk employees. Read employee reviews and ratings on Glassdoor to decide if Payhawk is right for you.