Bakkt reviews

2.7

28% would recommend to a friend

(127 total reviews)

Gavin Michael

24% approve of CEO

23% positive business outlook

Bakkt has an employee rating of 2.7 out of 5 stars, based on 127 company reviews on Glassdoor which indicates that most employees have an average working experience there. The Bakkt employee rating is 27% below average for employers within the Financial Services industry (3.7 stars).

Reviews by job title

127 reviews
1.0
May 18, 2022

Work at your own risk

Recommend
CEO approval
Business Outlook

Pros

* Big players backing financially * Name is good for Resume if you want to add Crypto to it * Recently company gave a flat raise to everyone in the org. This is not common with any other organization

Cons

* No Goal: For instance the company is not sure what type of company this is. Crypto? Loyalty? Trading? Payment? They have no idea. The agenda changes every all hands meeting (Actually, it is a all hands show) * Tough on hiring: For hiring a Jr. resource you will have to wait for next Gavin's/Board Meeting approval. As a policy there is no joining Bonus. We where loosing a lot of good potential hires just for this. * No Ownership: No one care to improve anything. All they want is lights on mode. No one cares to work in improving the product and providing customer value. All they say, "Let customer start using then once we have revenue flow we will improve". * All hands Meeting: I definitely wanted to talk about the All Hands Meeting. This is one BIG waste of company time. Initially they were meeting every Friday till they went Public. After that the frequency was made to once in 2 weeks. All they do is Gavin propaganda in this meeting. All speakers in the meeting also talk as if Gavin moved the mountains. In reality, they change the company focus in every meeting, one meeting they boast themselves as Bitcoin company, Then they will remember an acquired group of people and say they are expanding on Loyalty they they will start speaking about payment solutions. The worst part is they will start as if there is nothing on fire. * Trust: I will have to say this, there is no trust from the employees towards the management and vice versa. Key founding members left the company immediately after company went public. CTO also left sooner. The technology company does not have a CTO. Team members leave every week. We lost some very important team members because of the way they were treated by the leaders. Very strange I have seen various HR contacts in a short span of time. When I send mail to a HR for something and next time when I had to talk to HR for something else the mailbox bounces. They left! * No transparency: The leadership always say they conduct all hand meeting and are a very transparent org. But in reality, the leadership would say something one day and the agenda would change immediately and will never bring the old topic. No one will know what happened to the old topic. * Org Leveling: Leveling was some big time joke. All Gavin's friends were graded higher and anyone not in good terms with Gavin was leveled lower. I know some good members left our team as they were not leveled correctly. * Diversity & Inclusion: This is something everyone should know. The color of the skin play a key role in influencing leadership. The thing is it cannot be spotted easily but with a closer look you will be able to make it out. This company for some reason does not hire immigrants even for desperate positions that are open for months.

1.0
May 12, 2022

Engineering

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Work from home flexibility. You get to write crypto on your resume.

Cons

Everything else. Change is inevitable with the company going public and new leadership in place. New leadership team however is incompetent. Lots of Cheifs and VPs have been hired to "fix" things and help us grow. But these folks don't have the skills to navigate in the digital age, work in startups, nor have vision for the future. Bravo to the Chiefs and new VPs for killing all innovation, excitment, growth, opportunities. These execs are enjoying their $ and bloated titles while it lasts. Company no longer feels like a tech company trying different things. Now feels like an uptight bank stuck on old school process and red tape. No option to be promoted from within as current employees can only make lateral moves. New hires are pressured to write good reviews to help with image. Very toxic culture of mgmt vs. employees. 20% of the people do meaningful work. Throw in the great resignation and an unpredictable market and we have a recipe for disaster.

1.0
Dec 16, 2022

You'll do a different job than you were hired for

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Competitive salaries for the market, but benefits are an absolute joke. They just reexamined their benefits policies and gave everyone another week of vacation, which is great, but then only increased maternity leave to 8 weeks. What a joke of a company.

Cons

As most of the other reviews say, Bakkt has no idea what kind of company it is -- all of which is because CEO Gavin is incompetent. Because it's constantly changing direction (and I mean constantly!!), if you're hired to do one job at Bakkt, that role and those responsibilities may be completely different just weeks later that they'll have you doing something that you have zero experience and no passion doing. Projects that you may have been working on for MONTHS, get scraped suddenly to "shift focus to new business goals." Then they act like you haven't contributed during performance reviews since they're the ones who shift direction at the last minute. It's impossible to keep up. The leadership team will outright lie and tell you one thing in order to try to keep you happy, then pretend like it never happened when you follow up. They're running away all the good employees who are tired of their BS and then laying off all the other ones. The layoffs that occurred in December 2022 were beyond frustrating. Every other Friday there's an All Hands meeting, where robotic Gavin reads slides that other people put together for him, telling the entire company that Bakkt is in a great position and to not worry about the rest of the crypto market. Then BAM, they layoff 15% of staff with only 4 weeks severance acting like they were being such a gracious company to give everyone 4 weeks. The company is so old school that Gavin is making everyone report to an office -- even for employees who were hired for remote roles. He doesn't care about the lack of culture at the company and is doing nothing to change it.

Viewing 4 - 6 of 127 Reviews

Glassdoor has 130 Bakkt reviews submitted anonymously by Bakkt employees. Read employee reviews and ratings on Glassdoor to decide if Bakkt is right for you.