While you have seen firms fail because of poor liquidity, product, vision, etc. the biggest things that stops Revolut is its high attrition and work pressure
So let’s compare (source: LinkedIN)
- Top valued firms such as Microsoft, Apple have avg tenure or 4+ years
- Fintech companies such as Nubank, Wise, Monzo have avg tenure of 1.6-2 years
- Even a cut throat consulting firm such as BCG has 2.3 years of avg tenure
- whereas at Revolut the avg tenure of 1.2 years
Yes this is 70% lower than big tech and 30% lower than other fintechs.
This precisely means that there are nearly 50% chances that you might not see a colleague after 1 Y at Revolut
Sad right?, this gets much worse for you if you are working on long term initiatives, where there is lack of knowledge transfer, ownership, motivation. As a result people just pick stuff that can get results in 3-4 months.
This is precisely the reason big firms fail, as no one sees the direction of Titanic.
Don’t forget they have a brutal recruitment, probation process. Only the best make it. Despite having the best folks people quit in 7-10 months after probation. You ask why?
- Strict quarterly review ( yes your performance is evaluated every quarter as a result you are on the treadmill for ever)
- If you get rated average - or unsatisfactory be ready to pack your bada
- Team attrition, pushy leadership, no space to relax eventually makes smart people burn out faster than in IB or consulting
- Everything is KPI, so all inputs / outputs might have zero impact if you are stuck in a rabbit hole department
I would say do think through before joining, talk to few folks in the firm.
