Despite the company's efforts, relatively few highly profitable and scalable applications for 3D printers have emerged. The most lucrative applications, such as digital dentistry, are competitive markets. These industry dynamics influence both wages and career growth opportunities at Formlabs and within the broader digital manufacturing sector.
High turnover has led to challenges in retaining institutional knowledge. Staffing continuity between programs has been a persistent issue, impacting long-term momentum.
Retirement savings benefits are poor. There is no 401k matching and the company's 401k offering charges very high fees (the provider charges ~1% AUM to be invest your money in Vanguard target date funds!?). This ugly arrangement effectively lowers engineers compensation, because they must choose between a higher W2 tax burden and paying out these onerous fees to a poor quality financial services company.
The stock option grants are illiquid and there isn't a strong secondary market for them (as of time of writing).
The cost of living index for the Boston area is extremely high. Saving money while working at formlabs can require some asceticism.