Working at Robinhood: What Benefits do Employees Receive?
A look at why Robinhood has been named one of the best places to work.
Founded by two Stanford graduates named Baiju Bhatt and Vlad Tenev, Robinhood is an app-based stock brokerage that allows individuals to trade stocks, options, exchange-traded funds and cryptocurrency without having to pay commissions.
On its website, Robinhood proudly declares:
“We believe that everyone should have access to the financial markets, so we’ve built Robinhood from the ground up to make investing friendly, approachable, and understandable for newcomers and experts alike.”
Since its founding, Robinhood has quickly grown to become a powerhouse in the financial services sector and an employer that many job hunters have their eye on -- and for good reason, too. Robinhood was recently recognized on the CNBC Disruptor 50 list, was named one of TIME’s Most Influential Companies for 2021 and was named a Glassdoor Best Places to Work 2021. Robinhood was also featured on both Fortune Best Workplaces in the Bay Area™ 2021 and Fortune Best Workplaces for Millennials™ 2021.
It’s clear from its many recent accolades that Robinhood is a highly desired place to work. But what makes Robinhood such a great employer? What great benefits do employees experience by working at the company? Read on to find out more.
Photo credit: SF Curbed
Vacation Time
While Robinhood employees do not receive unlimited PTO that other Silicon Valley workers enjoy, they do receive a very generous amount of time off compared to similar-sized companies.
Robinhood employees start out with:
- Four weeks (20 days) of time off per year
- 8 paid holidays per year
- 8 sick days per year
According to the Bureau of Labor Statistics (BLS), the average amount of PTO for private sector employees who have completed one year of service is 10 days. This means that Robinhood employees effectively receive double the amount of time off than the average private sector employee.
Several reviews on Blind mentioned that Robinhood management actively tries to promote work-life balance at the company. Many current and former employees agreed that they felt encouraged to take time off when they needed it, unlike at some companies where employees feel guilty for actually using their vacation days.
Generous Health Coverage
Robinhood employees also receive premium medical, dental and vision insurance. On Glassdoor, former and current Robinhood employees raved about Robinhood’s generous comprehensive insurance plans, which many called the best insurance coverage they had ever received from an employer.
There are several highlights worth pointing out:
- Under Robinhood insurance, employees do not have to pay a premium if they are the only person insured.
- In addition, one respondent said that the deductible copays and out-of-pocket maximums were “the lowest [they had] ever seen in employer-provided health insurance.”
- Under Robinhood’s insurance plans, mental health is also covered.
Overall, Robinhood employees appear to be very satisfied with the company’s insurance offerings for medical, dental and vision.
Paid Maternity & Paternity Leave
The federal Family Medical Leave Act (FMLA) and the similar California Family Rights Act (CFRA) require employers with 50 or more employees to provide up to 12 weeks of unpaid leave to care for a new child.
However, according to Robinhood employees on Glassdoor, Robinhood employees are granted a whole 16 weeks of maternity and paternity leave per child. And not just that -- those 16 weeks are paid, too.
This means that new parents do not have to worry about hurrying back to work and are able to spend more time bonding with their new child without the stress of finances looming over them.
Investment in Growth
Photo credit: SF Curbed
On top of the standard benefits, Robinhood also offers opportunities to foster growth and collaboration among its employees. The financial services company promotes education and trainings internally, and also regularly hosts community events and team retreats to bring the company closer together and encourage development among Robinhood’s employees.
Many Blind reviews praised Robinhood’s culture and noted the company is a place where employees have lots of opportunities to make an impact and grow as the company continues to expand. As Robinhood continues to gain traction, employees are able to take on new projects and shape the future of the financial services platform.
Whether you are new in your career or are looking to accelerate your trajectory forward, Robinhood may be the right employer for you to hit the ground running.
Office Life
Photo credit: SF Curbed
Employees working out of Robinhood’s offices receive some special benefits of their own:
- Free catered meals and fully stocked kitchens
- Some of Robinhood’s offices are also dog friendly
- Choose from 41 conference rooms
- A wellness and mother’s room
- Rec room with arcade games and a gym
- Casual dress
Photo credit: SF Curbed
Employee Resource Groups
Photo credit: Robinhood
Robinhood places a strong emphasis on inclusion, noting that “attracting, motivating and retaining diverse talent is critical” to delivering on its mission. One of the ways Robinhood promotes diversity and belonging in the workplace is through its Employee Resource Groups, or ERGs. ERGs are identity or experience-based groups led by members and allies who join together to support building Robinhood’s inclusive workplace.
According to Robinhood’s website, over 60% of its employees are members of one or more of Robinhood’s ERGs.
Some of Robinhood’s ERGs are as followed:
- Asianhood
- Black Excellence
- Brain Body Heart
- Divergent
- Latinhood
- Parenthood
- Rainbowhood
- Robinhood Veterans
- Sisterhood
- Women in Tech
Overall Thoughts
In short, there’s a reason Robinhood has been heralded as one of the best places to work in 2021. It’s clear that the growing financial services company prioritizes the health and wellbeing of its employees and is putting in the effort to ensure all employees are being treated right as far as company benefits go.
Throughout dozens of reviews online, employees raved about Robinhood’s benefits and many commented that they felt Robinhood truly cared about its employees and their wellbeing. One Glassdoor reviewer from Jan. 2021 wrote the following:
“The benefits at this company are unreal. I can tell this company truly cares about my well being and making sure my family stays healthy. Between the VERY low cost insurance, 401k, parent time off, mental health wellness days, and above average salary, I feel very comfortable here and can see myself working here for a long time. Democratize finance for all!”
In addition to reviews like this praising Robinhood’s extensive benefits, several employees complimented how Robinhood has been very responsive to employee feedback over the years, leading to continuous improvements in Robinhood’s benefits package. Employees provide feedback about Robinhood’s benefits several times over the year which is taken to heart.
In dozens of reviews on Blind, current and former Robinhood employees praise the company’s benefits and compensation packages as one of the biggest “pros” of working at the financial services company. Robinhood’s Compensation/Benefits was rated 4.3 out of 5 on Blind, as scored by 146 current and past Robinhood employees.
If you are convinced and are looking to start your career at Robinhood, please visit here to view open positions.
Banner image credit: Reuters
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