Nov 25, 2020
Do Not Fall for the "Meritocracy" Hype
Anonymous employee
Axos Bank Response
5yAxos recognizes that our team members are our greatest asset and we appreciate your bringing these concerns to our attention. We cannot comment specifically on the promotion issue you raised except to say that in our meritocratic culture team members are rewarded based on their achievements. We’re fully transparent about bonuses: they’re paid twice a year, typically in a 50/50 split between cash and stock. The stock vests over three years: a third after the first year, a third after the second, and the final third after the last year. Bonus decisions are made by managers in consultation with executive leadership, and the kind of blanket bonus award you described runs counter to our meritocratic culture. Finally, we agree 100 percent with your assessment that a manager’s #1 job is to give team members the tools they need to succeed. At Axos, we strongly believe that our team members are better positioned to succeed by working in the office instead of working remotely. Accordingly, we’ve taken numerous precautions to ensure that in-office work happens safely.