Prosper.com Reviews

Pros

Good colleagues, decent comp and benefits

Cons

No innovation. To many chiefs, slow to innovate. An odd culture of entrenched mediocrity. Horrible HR and ops.

Pros

- High pay, nice office, good benefits (just did big pay cuts and stopped most benefits due to Covid-19 though so beware!!) - Few working hours a day (mostly meetings, culture of low-work and low-output generally, platform runs itself mostly) - Little expectations or awareness of your work output (managers are asked to only people-manage and are thus pretty unengaged) - Amazing gig for a middle-manager or executive if they lack the chops to perform or if you're just looking to put your feet up for a few years - Kind people who are friendly, great people+places team - I felt lucky to be at Prosper when I was there and put a lot of my life into it. However, I could not recommend a friend or family member to join Prosper in the state it is in today.

Cons

- Years of a shrinking market, deteriorating product offering, and dozens of competitors with better offerings. Prosper's product has been overpriced and worsening for years. - Prosper is 12+ years old on a Series G with no sustained profit, dwindling cash, all-time-high competition, its management is void of all-stars or even decent players, and is lending into a credit crisis. - History of lying to investors, management coverups, and SEC action: Prosper overstated its returns to 30,000+ investors for years knowingly and was fined $3M by the SEC. Most of the management responsible for this are still at Prosper and were called out for incompetence by the SEC for not knowing how to calculate investor returns despite knowing they were doing it falsely for years - "The order also finds that Prosper failed to identify and correct the error despite Prosper's knowledge that it no longer understood how annualized net returns were calculated and despite investor complaints about the calculation" - UX leadership has made most beloved UX designers walk out the door forever, dominates meetings with firehoses of unintelligible communication and no real work, seems to come in and out of reality. - You probably won't learn from your manager, and you will find it very difficult to find mentors. Prosper hasn't attracted that type of talent for a long time, and for years that quality talent has been leaving while some of the worst stay. CEO likes to say "manage more, work less" - Overpaid, disengaged executives with poor work ethic and ancient domain expertise - Board stays at arms length after years of being fed what execs call the "board narrative" - an actual separate narrative than what has actually happened in reality. I wish I was kidding. I wish I could say more. - Tech stack is described as an "atomic time bomb" with eng leadership that hasn't been technical in years and years. - Executives at all levels have no Tech experience meaning important signals (like false investor returns) fall on deaf ears resulting in years of uninformed decision-making, failed acquisitions/layoffs, regulation-breaking, failed projects, failed partnerships, coverups, and more.

Pros

Benefits, work/life balance, nice people

Cons

Culture of complacency Lack of accountability Insincere leadership: espouses our mission to be category defining but we lag our competition (eg additional products, co applicant) - all while they’re definitely (and unsuccessfully) trying to sell the company (see business insider article) CEO isn’t leading; doesn’t have a vision - an ex bank exec that is conservative / lacks conviction, seems insecure Mass exodus of talent over recent 6-12 months is disturbing Two execs have left / in process of leaving There’s basically no marketing team

Pros

You can be average and shine since the majority of people are under-performers.

Cons

There is a shocking amount of incompetent people and leadership is unwilling to do anything about it. Little to no accountability for massive mistakes that continue to happen. Any decent employee who makes the mistake of working here leaves fairly soon after, they can’t keep any of the good ones.

Pros

The people I've had the opportunity to work with their are really kind, hardworking, and knowledgable. They believe in the digital future of finance and their intentions are in the right place. But I wouldn't say the same about most of the top management.

Cons

The Company has been through a rollercoaster of growth and whatever the opposite of growth is, but they are still around. They are survivors. Unfortunately I feel like Management is too much focused on finance and not enough on technology, and it really doesn't even feel like technology company to me as much as a commodity finance player. Also there's too much competition and low margins.