Wealthsimple Reviews

Updated Sep 9, 2020

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4.5
86%
Recommend to a Friend
95%
Approve of CEO
Wealthsimple Founder/CEO Michael Katchen
Michael Katchen
91 Ratings
Pros
  • "Catered lunches with everyone in the company helps me keep meeting new people and grow relationships outside my immediate team(in 19 reviews)

  • "Transparent culture with information shared amongst all team members(in 9 reviews)

Cons
  • "Some teams see more erosion to work life balance than others(in 11 reviews)

  • "People seem to work long hours / be active on slack into the night(in 10 reviews)

More Pros and Cons
Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.
  1. Helpful (1)

    "a company that cares more about people than money"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Software Development Engineer in Toronto, ON
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Wealthsimple full-time for more than a year

    Pros

    - Amazing Tech - Visionary Leadership - Smart colleagues - Great Values - Passionate Ppl

    Cons

    I don't have any cons for the company really! Leadership knows how to make hard decisions like giving up on a product that never got traction in the market. That's a hard decision and a sign of courageous leadership.

    Continue reading
  2. Helpful (6)

    "Great product - it's a shame the company doesn't hold up to it."

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Client Experience Associate in Toronto, ON
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I worked at Wealthsimple full-time for less than a year

    Pros

    - RRSP matching - you'll learn a lot about investing! (mostly on your own)

    Cons

    - little to no work life balance (mandatory meetings are regularly scheduled outside of working hours, ticket quotas are seldom achievable during your 9-6) - toxic leadership culture whereby manipulation and guilt trips are a fan favourite in pushing employees to hit targets (typically 75 ticket updates per day) - phone agents must be prepared to handle any and all incoming calls despite only being trained on their 1 assigned pillar (i.e. account funding) - bureaucratic measures have been taken to limit agent access, resulting in endless escalations arising from tasks as simple as applying a refund to an account - this has led to a lack of efficiency/ownership from agents, and a hugely dissatisfied customer base - agent development is constantly put on the back burner while leadership is too busy implementing short-term staffing solutions to mitigate backlogs/support new product launches that no one knows anything about

    Continue reading

  3. Helpful (4)

    "Needs to find their footing as a grown up company"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Toronto, ON
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Wealthsimple full-time

    Pros

    Some of the smartest people I have had a chance to work with. Love the product

    Cons

    There is a massive imbalance on all the soft stuff (snacks, activities, "things") and not enough focus on structure, professional development, performance management, coaching etc. You start to feel stagnant after awhile, and "promotions" don't mean anything more than just a little more money and a little more work. No skills development, no manager training.

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  4. Helpful (19)

    "So much technical debt"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Software Engineer in Toronto, ON
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Wealthsimple full-time for more than a year

    Pros

    Catered lunches, Friendly people, Pretty good benefits, Various technology used in different places.

    Cons

    Few years ago company had great culture and great values. Nowadays, the values are just mentioned time from time while nobody is really following them anymore. For instance, company constantly advocates itself as being completely open about everything. While at the same time a whole project and respective team was disbanded with 1 day notice, being a surprise even to the team itself. New projects are being announced with extremely short deadlines, and without even consulting about resource availability with teams in advance. There were cases of "secret" projects, that nobody in the company knew about but the team working on them. And even though company has a "Town Hall" type of meetings, most of the really difficult questions are answered with non-answers like "isn't this a great problem to have? this means we are growing!". Amounts of tech debt is staggering. Whenever there's a choice of doing something good for short-term vs something good long-term, short-term always wins and long-term problems will be solved when they become fires. A lot of services still do not have proper tracing/monitoring after literal years of raising this issue. Technical direction is provided by design-by-committee or in other words - there's no technical direction. Either nobody cares about an issue, or everyone discusses it into the ground for few weeks, then gets tired and forgets about it.

  5. Helpful (14)

    "We were encouraged to write Glassdoor reviews during on-boarding"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Wealthsimple full-time

    Pros

    Catered lunches, good benefits, and brand name

    Cons

    The pros that matter (i.e. on the job learning, career development, work life balance etc.) are only really directed at software engineers. Any business or supporting function doesn't get much attention For a tech company, investment in internal software is really slow. Which makes back office operations grueling Culture isn't the same throughout the company, the finance department for example has been consistently losing people mainly because for too long... stress (onset by software and people count constraints) has been used to excuse inexcusable managerial styles

  6. Helpful (2)

    "Likely the best company in Toronto to work for!"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous in Toronto, ON
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Wealthsimple full-time for less than a year

    Pros

    -Wealthsimple has extremely lofty ambitions, but because of the sheer talent here, achieving those ambitions is realistic. The fintech space is crowded, but we are well positioned for continued explosive growth and success. -Management team works well together, values employee feedback, and inspires confidence -Culture is transparent -Employees are kind, supportive, highly engaged, motivated and smart -A company mission anyone can get behind - helping Canadians access great financial products -The chance to work on a consumer product that you probably already use -Things get done here, and FAST. Innovation doesn't stop. -Very competitive base salary + bonus structure + stock options -The perks here, in aggregate, are unparalleled in Toronto (as far as I know). Wealthsimple provides more snacks than you knew existed, breakfast foods, free daily catered lunches (which can be turned into dinners with ample leftovers), gym credit, education credit, library, free Headspace subscription, free Bose headphones, very generous RRSP matching, 4 weeks vacation, remote work, flexible hours, generous parental leave policy at 100% top up, the list goes on.

    Cons

    There really aren't any. Seriously.

    Continue reading
  7. "Great inclusive and supportive work environment"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Operations in Toronto, ON
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Wealthsimple full-time

    Pros

    - Supportive team - Data focused decision making - Transparent culture

    Cons

    - none for now :)

  8. Helpful (1)

    "Great company to work for!"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Customer Experience Manager in Edmonton, AB
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Wealthsimple full-time for less than a year

    Pros

    Amazing perks like daily lunch, stocked break rooms, etc. Great people working there as ell. Everyone was incredibly friendly and helpful. Be prepared to move fast! Great HR and support in place for the employees.

    Cons

    Lots of onboarding stuff that can get a bit dull in week one. After that, it's all good!

  9. Helpful (1)

    "Talent Sourcer"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Toronto, ON
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Wealthsimple full-time for less than a year

    Pros

    - The company culture is excellent - they really care about their people and are very transparent - In depth onboarding gives you a real insight into other business functions/company as a whole - Catered lunches - Great perks and benefits

    Cons

    - None so far since I joined just over a week ago

  10. Helpful (1)

    "Amazing company, lives up to the hype!"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Associate Relationship Manager in Toronto, ON
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Wealthsimple full-time for less than a year

    Pros

    Very open and transparent culture, in-depth onboarding, lots of opportunity for growth

    Cons

    None so far :)

99 English reviews out of 122