Axos Bank reviews

3.1

57% would recommend to a friend

(299 total reviews)
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Gregory Garrabrants

61% approve of CEO

61% positive business outlook

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299 reviews

Reviews about "Compensation"

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1.0
Dec 6, 2021

High Turnover, Low Pay

Recommend
CEO approval
Business Outlook

Pros

If you prove yourself capable, you'll be given a lot of responsibility. The company can be a great resume builder, as they use a variety of applications and systems that you will have to adapt to in order to get everyday tasks done.

Cons

Axos Bank is an *online* bank that refuses to allow remote work - even during a global pandemic. Their old fashioned work "culture" is driving employees away by the dozen, and they refuse to change. They see their employees as workers, not humans. When the pandemic first started, we were lectured by the CEO to not drop even 5% of our productivity. The turnover is so high that the people who stay are attempting to do 3 or 4 different roles. Time off is frowned upon and stressful. On the rare occasion you are allowed to work from home, they measure your key strokes as a sign of productivity. They pay slightly below market value - but try to sell their benefits as making the salary worth it. The bonuses they offer are largely stock that vests over 3 years - not many employees make it that long.

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Axos Bank Response
4y
We agree with you on several points. In our meritocratic culture, team members are rewarded for delivering results that meet or exceed expectations. This can take the form of both higher compensation and greater responsibility. And it's also a point of pride for us that we give team members incredible exposure to applications and systems to which they wouldn't have access in similar positions at other companies. But we disagree on other aspects of your assessment. For example, it's not accurate to say that we refuse to allow remote work: At the outset of the pandemic in 2020, we deployed more than half of our team to work remotely. That said, we believe strongly that we're better off when we're all working together, and we've taken precautions to ensure this can happen safely. Finally, bonuses are typically paid out in a 50/50 mix of cash and stock. You're right that bonus stock grants vest over 3 years. With the share price having nearly quadrupled between March 2020-December 2021, those who received grants and have stayed with us have seen a nice windfall.
4.0
Nov 24, 2021
Recommend
CEO approval
Business Outlook

Pros

good work culture , work life balance ,

Cons

could have better pay , benefits no remote work option

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Axos Bank Response
4y
Thanks for sharing your review!
2.0
Oct 27, 2021

Do Better

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Depending on your team, you can end up working with some really great people. Some teams / departments are more friendly and cooperative than others - the camaraderie comes from the mutual understanding that this company isn't what they portray themselves to be and so all the low level employees band together so they don't feel like they are the only ones who see the issues. They have free coffee / water dispensers for employees, they did have some "snacks" but the snacks were taken away (for safety reasons) - but that was not until after everyone was vaccinated from COVID - which made no sense. You will make long lasting connections with those who leave the company, and once you leave yourself current and former employees do keep in touch - they envy you are gone and ask for help getting out themselves (references, resume help, etc) If working in an extremely stressful and frustrating environment makes you thrive, then this is the place for you!

Cons

You get to earn 3 weeks of paid vacation - with hours accumulating each pay period, and once you do earn it then you have to fight within your team to use it. Managers will even ask if you really need to take it - and hint that they want you to cancel your plans. You can earn up to 80 hours of sick time, but only use 40 hours per anniversary year. If let's say one year you use no sick time at all but then the next (god forbid something happen to you) you use alot and you go over the 40 hours they will not make any exceptions to use more hours from your bank - even for serious health issues. They say it has been a policy for years, yet the handbook and that section was updated 3 months ago. During COVID most employees were sent home (against the wishes of what the C-Suite wanted - the CEO does not believe COVID is real (major red flags here) - yeah look him up) and had spy software installed on their computers. Employees were threatened in a heinous email that if the work fell below standard, people would be fired (again in a pandemic when so much is already going on, you now are threatened to lose your job by some wackadoodle in a suit). The employees who did stay behind basically doubled up on their roles and took on extra tasks - do you think there was any compensation for that? - no, none. When it comes time for you to get promoted don't even think for a minute that your raise will start when you actually are promoted. You get the title right away but the raise - that comes maybe 6-7 months later when you get your next bonus / review. So you basically get your fancy new title, take on more work and responsibility but then you "may" get a raise at a later date. And another thing - will you get any of that back pay from when you got promoted based on if you had the raise then? - no, none. Dealing with other departments will be a pain in your side, no one wants to own their tasks and they do a subpar job on the ones they will handle. Call Center is a joke, customers get the run around constantly from employees because the system is outdated and the company will not invest in their back office side. While the company is an online bank - their website and app is constantly having issues - it is not state of the art like it should be for the "first internet bank" in the US.

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Axos Bank Response
4y
Thank you for taking the time to share your experience. We've shared your comments with senior management. We would have liked to have the opportunity to address these concerns while you were with us.
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