Growing SaaS company with exciting technology
Pros
By far the dominant market leader in experience management software. The product is really exciting and always evolving. Change is constant, so there are lots of opportunities for making a meaningful impact on the success of the business. The pay is competitive in most markets for most roles, and the benefits are fantastic. 401k match, equity options, STI and LTI, lunches in most offices. The performance expectations are aggressive, but the bonuses are equally aggressive- exceptional work is recognized and rewarded here. It takes a lot to be exceptional with the kind of peers we have at Qualtrics, but I would rather deliver average work at this company than be a star performer some place else. The best part is the people that work here- there is a high bar for hiring and this place is filled with talented, motivated, intelligent, and empathetic people. The frontline managers and middle managers are generally very good and they care deeply about the success of their teams and their people. The leadership team is committed and competent (most have been with the company for years).
Cons
“Fast-paced growth SaaS company” also means major organizational changes are constant; the change fatigue is real and can be a lot to manage at times (I have been with Q for 7 years and have been through at least as many re-orgs). Recent layoffs (October 2023) have dampened moral and eroded trust in the exec leadership team, but it seems like the culture is rebounding. The hybrid work policy is not for everyone. There is a significant lack of diversity amongst the leadership team- you will see women and underrepresented minorities in the executive team, but the core group of decision makers (the Founder & Board Chairman, CEO, COO, Chief Product Officer, President, many sales leaders) are all white men from Provo, Utah. Since being taken private again, Qualtrics’ promotion philosophy has become much more conservative and there are fewer opportunities for accelerated advancement compared to what you might find at a pre-IPO startup. The private equity firm that owns Q is heavily focused on profit margins, which may risk product development when many competitors are investing heavily in R&D for AI.