Formulatrix reviews

3.8

81% would recommend to a friend

(147 total reviews)

Jeremy Stevenson

87% approve of CEO

72% positive business outlook

Formulatrix has an employee rating of 3.8 out of 5 stars, based on 147 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Formulatrix employee rating is in line with the average (within 1 standard deviation) for employers within the Pharmaceutical & Biotechnology industry (3.5 stars).

Reviews by job title

147 reviews
2.0
Sep 25, 2018

Not competitive for 50hrs/wk

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

-No bad co-workers, most everyone is competent. -Easy to move around in the company.

Cons

-Low pay for 50 hour (minimum) weeks. -Mediocre benefits. -Can't hire people to replace those that leave, much less continue growing. -Profit sharing is a joke.

avatar
Formulatrix Response
7y
Thank you for your feedback. We recently sold a product line for $260M and will pay it out as profit sharing to our employees. Current (and many former) employees have been very well compensated for their extra effort. At FORMULATRIX, we’re all working hard towards similar transactions/employee payouts in the future.
1.0
Sep 14, 2023
Recommend
CEO approval
Business Outlook

Pros

-The other engineers you work with are great. Lots of very smart, helpful, genuine people. Formulatrix hires smart people and wrings them out. -You get to do a lot of hands on work, which can be fun. Depending on your project, this could end up being pure misery though.

Cons

-Expected 50 hours a week (excluding your lunch time) at the time for below market salary. People would have to come in on weekends sometimes to meet their hours if they had appointments or something during the week. I've heard they have generously reduced this to 45 hours now. -Very low compensation for what was expected. The feeling was that they hire really smart people early in their careers for cheap and milk them for all they are worth until they burn out. -The engineers referred to the back of the office where we worked as "the sweatshop", to give you an idea of how respected we felt. -On the notes of respect and sweat, the extremely frugal CEO (more on that below) had a cover installed over the thermostat, which prevented us from making any changes to the temperature in that area. Make of that what you will. -The worst 401k matching scheme I have ever encountered at a company. My offer letter and employment docs said "3% match" which is pretty standard, but after I started I learned it was a 3% match with a 2 year cliff (they put the money aside but you get 0% of it until 2 years) AND then took an additional number of years to actually get the full 3% that had been paid in- I believe it was 20% vested per year. In a system like that it would take like 6 years to get your 3% match. A bad 401k scheme is usually either a graded vest OR a cliff vest, both is bonkers. If you leave before the cliff you get nothing, and if you leave before its fully vested your 3% match is a lot less than that. -No sick time, and only 10 or 15 days PTO when I was there. -The profit sharing was for the most part, a joke. I believe some people got a decent payout from it when they sold off part of the company. But for a normal year, you could clearly see the amount put into the "profit share" during the annual meeting and compare that against the share you and your coworkers got and realize how that profit share is split. Look at all the lowest star reviews- they all mention the profit share being a joke and the response from the company each time is "but we sold this part of the company and all the proceeds from it went into the profit share!". It doesn't matter how much goes into that profit share- people are calling this out because of the distribution of that profit share, not saying it doesn't exist. -It feels like they started nudging employees to leave positive reviews for the company on Glassdoor. The company has a lot more reviews than it did only a few years ago. Most are not from the Bedford main office and not reflective of the experience there. I am skeptical of a lot of the reviews that are here, considering every other engineer and product manager I worked with hated it here. -The CEO is a heavy micro manager and that's the nicest thing I can say about him. Was disrespectful to other people when they aren't around to hear it. Frugal beyond belief, whether that was salaries, expenditures, or benefits for employees (see other points for more on those specifically). It is incredibly clear you are an expense to be minimized. They don't want to spend a cent more then they need to, on ANYTHING. They would celebrate birthdays that were weeks or months apart in batches so as to only buy one cake. The catered lunches on fridays had to cost less than some small, arbitrary amount per person, I think it was something like $7. This would become readily obvious when you ordered from certain places (local sandwich shops) instead of a more family style place (chinese or pizza), when you wouldn't be allowed to add cheese to a sandwich because it would put you over that threshold. The engineers and product managers would joke about how Jeremy would expect a single engineer to be able to perform the role of an entire branch at another company with none of the resources, and it really wasn't far from reality. It wasn't uncommon for you to go to a weekly meeting and get derailed into researching something because the CEO saw it in a youtube video. -Doing things the correct way was not the focus. The priority is doing things the cheapest way. To give an idea of how that manifested, lots of the tools we used on a daily basis were janky home brewed contraptions, like a toaster oven rigged up for heating things, and a box fan with a cup on the end being used as a centrifuge where you had to use nuts and bolts in a cup on the opposite side to counter balance it. -Very rarely would the company seek out proper expertise in areas outside their specialty, instead just expecting their engineers to magically ramp up on these very complex areas and processes so the company wouldn't have to spend money on consultants. -10% bonus based on your goals, and it was pretty explicit that if you met all of your goals, then they weren't aggressive enough. There are some goals for colleagues that were set in my time there that last I heard were still not met years later. -Expected 2 months notice to leave. I forget what the penalty for not giving two months notice was, but I believe it was forfeiting some of the benefits (I think the profit shares you earned would taper off over time if you gave 2 months notice, or you forfeited them if you didnt give 2 months) -Multiple engineers felt like they were bait and switched- told they would be working on one thing during their interview and then working on something else entirely when they started- myself included. At least one time somebody who was hired as a mechanical engineer got moved instead to be a product manager almost immediately after starting. -No HR department when I was there. We were told to bring any HR issues to the CEO's wife, who was a cofounder and exec at the company. As I'm sure you can imagine, nobody felt comfortable doing that. But since nobody said anything I'm sure there were no issues!

1.0
Sep 6, 2023
Recommend
CEO approval
Business Outlook

Pros

good enough place to have worked. If you want to go into management as a young engineer you will have an unbelievable amount of power/responsibility/experience. As a product manager you can shape your product to be whatever you want it to be. If you don't want to be a product manager, they have cool prototyping equipment. If you like personal projects you will be able to do a lot. You will also be responsible for machining your own prototypes, which is a very fun part of the job. There's a lot of opportunities to teach yourself arduino and raspberry pi, you can shape out a role that has a lot or a little of this depending on how big your team is. Coworkers are great. It has a startup feel without the startup risk. Very casual atmosphere, not many meetings about meetings, and you are never more than 2 people away from the CEO.

Cons

For starters, they remove your Glassdoor review because it's negative. Good thing there are some ex-employees disgruntled enough to upload a third review. So many cons, don't stay here long. The profit share ended up being a [REDACTED]% bump to my salary over my tenure, so it's not nothing but not a whole lot either. If you leave the company they expect 2 months' notice. BIG RED FLAG. There is no clear timeline for the shares to liquidate, and even when they liquidate it will likely disperse over 1.5 additional years. You need to be employed at the company for those 1.5 years for them to pay out fully. This is not normal. They expect 45 hours/week(50 hours/week when I started) with salaries that are not competitive with the market. They also don't like it when you point out that your pay should be 12% more because you work 12% more. Bonuses are given out based on what percent of goals you complete. If you consistently get higher than 80% then your goals are considered too easy and they won't give you the 90% of your bonus that you deserve. Goals are a meta-game to figure out how to convince management that something is hard when it actually is easy. But don't make it look too easy. There is very little communication from the CEO about why he is doing things. He moved to Dubai and the only official communication about it was 1 email. There is 1 'state of the company' meeting a year, but you just get a calendar invite someday in the year. No communication about why it's late or early. They hire ME's telling them they will do design engineering, but then pull a 180 and say "obviously you will be managing a team of 10 engineers in Indonesia". There are no senior engineers here, so if you want to become a better engineer it is quite difficult. They are incredibly cheap everywhere. Meaning there isn't enough food at Friday lunches, it's difficult to buy tools that are over 1000 dollars, and when you ask for resources in the US, you get people in Indonesia instead. There is a single US software person and a single US electrical person. Very few amenities on site, we have a crappy coffee maker you might find in a home kitchen, no social things like other companies have(ping pong, basketball net, game console) Expect to have lots of meetings at inconvenient times. Especially if you are a product manager there is no escaping having either early morning meetings or very late meetings. Everyone meets with Indonesia at least once a week, most have more than one inconvenient meeting. You are managing their engineering and not just production, so it necessitates more meetings more of the time. I had a separate meeting for software, electrical, UX, mechanical, and production. Most companies only have to deal with production.

Viewing 4 - 6 of 147 Reviews

Glassdoor has 193 Formulatrix reviews submitted anonymously by Formulatrix employees. Read employee reviews and ratings on Glassdoor to decide if Formulatrix is right for you.