Interesting & exciting place to work, but not without problems…
Pros
Very fast-paced environment and interesting projects. Product quality is a priority, management is not reckless. Monthly “town-hall” style meetings, easy access to information internally. So long as you can provide an intelligent argument, anyone at any level can provide input & they WILL listen! Internal promotions are common (disclaimer: see below). Penumbra management does a great job letting employees know how their work impacts patients. As a result, employees feel a connection to the products and pride in the work & company achievements.
Cons
Penumbra's compensation structure definitely needs improvement. Competitive starting salaries, but benefits are poor: no yearly bonuses, minimal stock options, no 401k matching and yearly raises are marginally above inflation. One plus: 3 weeks of PTO! Apparent favoritism when it comes to career advancement. Friends, family of upper management get suspiciously fast & frequent promotions. BUT, it is still possible for non-connected, high-performers with political smarts and initiative to succeed. Promotions include a better title & significant increase in responsibility for little increase in pay (could be different for employees with connections).