PayPal is a global payment platform that helps businesses and individuals to make and receive payments online.
For most of us, sending and receiving money comes to our minds when we hear about PayPal.
However, for some people, PayPal is a workplace that earns them income.
As one of the leading global companies in the FinTech industry, PayPal offers plenty of benefits to its employees.
The company provides competitive benefits and learning opportunities that can help propel your career to the next level.
If you’re interested in working in the FinTech industry, which is a fast-paced work environment, PayPal can be a great option for you.
In this post, we will discuss some of the pros and cons of working for this massive Fin-Tech company to help you make up your mind.
Table of Contents
- About PayPal
- Pros of Working for PayPal
- Cons of Working for PayPal
- 13 Pros and Cons of Working for PayPal – Summary Table
- Should You Work for PayPal?
Founded in 1998, PayPal is an online payment platform that enables people and businesses to send and receive payments online.
Its headquarters are in San Jose, CA, and the CEO is Daniel H. Schulman.
It was formed in the belief that everyone, including businesses, should be given an opportunity to thrive in the global economy.
With a revenue of $ 27 billion and 25,500 employees, PayPal is a hotspot for employees looking to add a mark in the Fintech industry.
Pros of Working for PayPal
Working for PayPal means enjoying various benefits.
Some of the reasons why many people choose to work for PayPal include:
1. Competitive Salary
The first thing everyone wants to know when applying for a job is the salary.
That’s because you don’t want to waste your time applying for a low-paying job.
PayPal understands the importance of ensuring employees are paid well for their work.
Most employees, including former employees, agree that they get paid well working for PayPal.
The average salary depends on the position you get.
Salaries range from $111,881 to $271,734 per year, according to Indeed.
2. Plenty of Learning and Training
PayPal has a massive mission to democratize financial services for consumers and empower businesses worldwide to take control of their finances.
The company has made more than $ 400 billion processed in cross-border trade.
Therefore, there are plenty of learning and training opportunities for employees, which benefit the company and the individual learner.
If you’re just starting in the FinTech industry, this is a great company to target, as it will help you scale up the ladder faster through the training.
You can take advantage of the mentorship programs and leadership development to grow your skill and perfect it.
3. Multiple Career Advancement Opportunities
PayPal is a global company that has many positions depending on your skills.
That means you can grow from one position to another without changing jobs.
The training, mentorships, and courses are designed to help employees grow in their careers.
Through the Technology Leadership Program and Emerging Leadership Program, PayPal cultivates a culture where employees and teams are supported in leading successful careers.
New hires also receive generic training that allows them to learn about PayPal’s products, values, and vision.
There’s also a 2-week training session for new APAC account managers to learn more about roles and products in greater detail.
4. Diversity and Inclusion
Every global company, including PayPal, recognizes the importance of providing equal opportunities for its employees.
PayPal also recognizes the need to empower people to exercise their rights and improve their financial health, as everyone comes to work to realize this vision.
PayPal’s mission to create a diverse and inclusive workplace, is not only for services and products but also extends to the opportunities offered to employees.
The culture at PayPal is strongly dedicated to providing a diversified environment where everyone works together to honor respect, involvement, connection, and collaboration.
All team members are treated equally and with respect.
That means teams celebrate one another in work achievements, personal milestones such as getting engaged, becoming a father or mother, birthdays, and many other major lifestyle celebrations.
Groups such as Unity for Women at PayPal come with plenty of activities and events.
5. Plenty of Employee Perks and Benefits
Like any major company, PayPal offers plenty of benefits to its employees.
The comprehensive and competitive programs help ensure financial security, such as retirement savings, stock purchases, pension plans, and other critical benefits.
PayPal offers benefits such as health and welfare, life insurance, 401(k) savings plan, short and long-term disability, dental and vision plans, flexible spending accounts, and employee stock purchase plans.
The company prides itself on supporting employees’ mental, emotional, and physical health.
PayPal provides various support programs to help employees navigate through various life stages.
The program includes a sabbatical program that offers four weeks of paid leave after completing five years of service.
Other benefits include; paid sick leave, enhanced maternity benefits, paid bonding leave within the first year of the birth or placement of a child, and paid family leave that allows employees to look after seriously ill family members.
There is also educational assistance, employee assistance, and adoption assistance.
6. Collaborative Culture
PayPal understands the importance of collaboration and teamwork.
Employees working at PayPal say that people are very friendly and collaborative.
This makes it very open and non-hierarchical, so you can easily reach out to senior leaders or colleagues from various teams.
Teams can have lunch together, share ideas, and develop solutions for the industry.
7. Innovation Opportunities
PayPal is primarily focused on innovation.
The company must work extremely hard and be smart to remain competitive as one of the leading global financial companies in the FinTech industry.
Diversity and inclusivity help ensure every employee gets equal chances to provide their opinion in developing and promoting a product.
Young minds are trained to be innovative and freely share their ideas for the betterment of the common public and their career.
If you’re focused on innovation in the FinTech industry, PayPal will be happy to see and hear what you have to share.
8. Quiet and Peaceful Working Environment
It’s everyone’s dream to work in an environment where you feel respected, appreciated, and supported.
Working at PayPal provides you with the space, opportunity and resources to give your best and be the best that you can be.
Employees say they’re connected to teams to help them work together, which makes work fun and engaging.
Cons of Working for PayPal
Paypal has its own shortcomings, as listed below.
1. High Management Expectations
Paypal is ranked sixth by CFTE among the largest Fintech companies by market valuation.
For a company to reach such high levels, it has to set high expectations for its employees, which can be difficult to achieve for some.
As an employee, you need to constantly work to achieve set goals, which puts too much pressure on the team, who may feel discouraged when they don’t meet these expectations.
This means some employees will feel disadvantaged and discontented.
2. Fast-Paced Work Environment
Working at PayPal means working in a fast-paced environment.
You will need to learn, unlearn and relearn to stay on top, especially if you’re eyeing key positions.
New employees may feel overwhelmed by the general and ongoing training that progresses as they rank higher in their roles.
The fast-paced environment and the high expectations often lead to high turnovers.
3. Too Much Training
We’ve mentioned that employees at PayPal have multiple career opportunities.
That means you have to undergo comprehensive training, which can be overwhelming to keep up with.
Employees who study and work for PayPal say they don’t get enough time to rest.
Others say they’re subjected to boring, continuous tasks all day long.
The learning sessions are often lengthy, up to 7 weeks, which can be overwhelming for employees.
The onboarding process and constant training can be too much for any new employee, making it difficult to digest information all at once.
4. Limited Career Growth Opportunities
There have been multiple complaints by PayPal employees saying that the company’s career growth rate is quite slow.
Employees complained of being stuck in the same position for many years, which affected their productivity.
Career growth is also limited to certain fields, and there have been reports of employees feeling as if their skills, years of experience and other critical factors are disregarded.
That means employees don’t get a fair chance to advance their careers.
Some employees also say they have experienced micromanagement and plenty of changes that often caught them off-guard.
5. Stressful Work Environment
It’s quite difficult to work for a company with high expectations.
From the onboarding process to the regular training and new updates, it’s normal to feel stressed working for PayPal.
The high technology sector requires intense and continuous innovative activities and large-scale research that can overwhelm even the most resourceful team.
13 Pros and Cons of Working for PayPal – Summary Table
|Pros of Working for PayPal||Cons of Working for PayPal|
|1. Competitive Salary||1. High Management Expectations|
|2. Plenty of Learning and Training||2. Fast-Paced Work Environment|
|3. Multiple Career Advancement Opportunities||3. Too Much Training|
|4. Diversity and Inclusion||4. Limited Career Growth Opportunities|
|5. Plenty of Employee Perks and Benefits||5. Stressful Work Environment|
|6. Collaborative Culture|
|7. Innovation Opportunities|
|8. Quiet and Peaceful Working Environment|
Should You Work for PayPal?
PayPal, like any big company, has its advantages and disadvantages.
Therefore, whether to work for PayPal depends on your personal preferences, values, career goals, and overall expectations.
We recommend reviewing all the pros and cons listed above to know what to expect and determine if a company is a good fit.