What's It Like to Work at Credit Karma?

Economic hardship brought on by the pandemic has led many to turn to companies like Credit Karma in an attempt to stabilize their finances. The now Oakland-headquartered (previously San Francisco-headquartered) personal finance service has shot up in usage over the past few months, with its app store ratings more than doubling since March from 800,000 to over 2 million.

But what about employees? Let’s break down what it’s like to work at Credit Karma, and if it should be on your radar for your next job search.

We'll break this article down into 4 sections:

1. What does Credit Karma do?
2. What's it like to work there?
3. What are the benefits?
4. Should you work there?

What does Credit Karma do?

Credit Karma, Inc. is a fintech company with the mission, “to make financial progress possible for everyone,” according to its website. Its program offers members access to free credit scores and reports, and it also provides them with product recommendations to save them money based on their credit profile.

If a customer ends up choosing one of the recommended products, Credit Karma receives a commission from the bank or lender, which allows the company to continue offering free access to its services. Credit Karma is now a top contender in the personal finance industry with 100 million users, 37 million of which are active monthly.

A Major Acquisition

A huge announcement that put Credit Karma in the headlines in 2020 was its $7.1 billion acquisition by Intuit: the company that owns TurboTax, QuickBooks, and Mint.

Credit Karma is an independent Intuit entity still headed by its Founder and CEO Ken Lin. The company has maintained its distinct brand, culture, and autonomy.

What’s it like to work there?

With only 700 employees and three offices across the United States, Credit Karma sits on the smaller side of Silicon Valley companies.

What positions are available? As a fintech company, it’s made up of more than only former computer science majors and product managers. Credit Karma jobs include a range of positions, including many business development and finance roles.

However, its company culture can be quite controversial.

Here's what the reviews say...

With an average overall rating of 3.7 out of 5 stars on Glassdoor, Credit Karma employee reviews vary widely. Many rave about the inclusive environment and work-life balance. Some can’t even find a single flaw. One 5-star review read,

“I've never been at a place where I've actually enjoyed coming to work every day. Everyone is friendly and seems to genuinely enjoy what they do and where they do it. Developing products that help people take control of their financial well-being - what's not to love?”

On the other hand, many employees share very different experiences. Some complain about the leadership and their lack of tech insight.

“Quite a few managers at some very important positions are clueless about the future, as they have been struggling to just prevent things from falling apart, and to maintain the status quo,” said one reviewer. “They are not good enough at telling the quality of data engineering work to reward the right people accordingly.”

Several struggled to find opportunities for professional growth within the company, and some blamed this challenge on office politics.

“Only favorites are promoted unless the ill-equipped are taking over for their manager having just left,” complained one reviewer.

Another reviewer echoed similar concerns, stating

“This is not a meritocracy. I don't even know how to begin to explain, other than starting with the simple fact that people do not get promoted on the basis of doing good work.”

One reviewer found a pro of working at Credit Karma to be the “fulfillment of having a large impact on challenging projects that impact our members.” Others cite the interesting work as one of their favorite parts of working at the company.

What are the benefits like?

Overall, employees seem satisfied with the benefits offered at Credit Karma, and after taking a look, they have good reason to be. A Senior Finance Manager in San Francisco described on Glassdoor:

"Top percentile salaries, benefits and liquid performing stock (INTU). Health benefits, mental/wellness - definitely get a sense the company is investing in employees."

Here are the specific benefits Credit Karma offers:

• Medical, dental, vision, mental health, and life insurance coverage
• 401k matching at 6%
• Up to 20 days of PTO
• $5000/year personal development stipend
• Commuter benefits
• Charitable Gift Matching
• Cell phone reimbursement
• $50 fitness stipend per month
• Barista-manned coffee bar and an on-site spa

Should you work there?

With the mixed opinions surrounding Credit Karma’s work culture, it’s definitely not for everyone. But for job seekers who want to work in fintech and are interested in helping consumers better manage their finances, it could be worth checking out.

Visit the Credit Karma careers website to see its full-time openings for job titles like Banking Operations Director, Security Risk Analyst, and more.