The fintech paying $400k tech salaries for 40 hour weeks
With the collapse of Silicon Valley Bank (SVB), a huge space has opened up for its former rivals to claim market share. One San Francisco rival has been ramping up hiring recently and their pay is nothing short of mouth watering.
Mercury was founded in 2017, making it 34 years younger than SVB. It describes itself as offering 'financial technology for start-ups' and processed $50bn in transactions in 2022. It provides startup banking services and infrastructure but stresses that it is not a bank. 🤨
Mercury has 31 open job listings right now. A number of those are in engineering, where they offer incredibly competitive salary ranges:
This is just the full time roles, of course. They are also offering for an internship with the pay rate reaching $55 per hour.
Mercury's perks also look quite special. There's a weekly $100 food budget and separate $100 weekly wellness budget, monthly $50 phone reimbursement, an unlimited book budget and $600 towards a custom work-from-home setup. They appear very WFH friendly, but also offer free food and snacks in the office.
Mercury has been hiring a number of senior employees in 2023. The new recruits include a head of risk programs Tara Sandhu, formerly of fintech titan Stripe, and communications manager Celeste Carswell who left Twitter in January.
Their 2023 engineering hires have a number of high profile companies on their CVs. Ellie Shang, who joined in January, was formerly a technology associate at hedge fund Bridgewater Associates while Jacob Nave joined that same month from Stripe.
Mercury is rated at an impressive 4.6 stars on Glassdoor. One software engineer in 2023 praised the work-life balance saying he "never worked more than 40 hours in a week."
This does not make it perfect however. One compliance manager warns that "too many people were hired in the past year and quiet layoffs have been happening" while the most recent review says the company "is still very disorganized."
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