- Banking unicorn Revolut is recruiting for more than 200 positions as massive layoffs hit the tech industry.
- Getting a job at Revolut is a highly competitive process, its global HR manager said.
- She offered three valuable traits the company looks for when hiring, including problem solving.
Massive layoffs are hitting the tech industry in the US and Europe, but unicorn banking startup Revolut has announced plans to increase its workforce by 20% in August.
Large companies such as Meta, Microsoft and Tesla have all laid off staff or frozen hiring. Revolut fintech peers such as Coinbase, Robinhoodand Klarna have also reduced the roles.
Revolut is growing and “growing in many countries,” global HR manager Alexandra Loi said in an interview. The company is “cautious” in slowing down the hiring of the right people for the right roles, but it is “still going full steam ahead with recruiting.”
Revolut was launched by founders Nikolay Storonsky and Vlad Yatsenko in 2015, offering banking services around the world. Users can make online payments and purchases in different currencies through its apps and debit cards. The company’s valuation has risen to $33 billion, although Storonsky has ruled out an IPO at this time.
In 2019, the company was accused by then-employees of creating a culture of burnout, unpaid work, high turnover and difficult goals, in a Wired survey in 2019. Storonsky published a open letter in 2019 responding to these claims by saying “we haven’t always done it right”, but that the company is no longer the same as it was “12-18 months ago when these mistakes were made “.
Loi described the culture as “diverse” and “sustainable”, adding that there remain high expectations and a “high performance culture”.
The company does not hire gung-ho, introducing some cost reduction measures including the cancellation of offers for four graduate positions in September. Loi said the company was still hiring for more than 200 roles, primarily in engineering, sales and other corporate functions. She pointed out that people with STEM-related degrees or degrees from top universities are good candidates.
There are currently a range of open roles on the Revolut website, including for a 3d designera back-end software engineer in crypto, and a growth marketing manager in Europe. Loi said the firm had received more than 250,000 applications in the first three months of the year for 576 positions.
The company’s top executives are compensated with six-figure base salaries depending on location, according to Previous insider report on the company’s U.S. overseas hiring data from 2019 to 2021. The highest salary in the dataset was $300,000 for an operating partner. A crypto manager won $250,000 and a senior backend engineer won $175,000.
The hiring process includes sending a resume and Linkedin profile; telephone preselection; three interviews to verify technical skills, problem-solving skills and cultural fit.
Law explained three traits that the company looks for when hiring.
1. People who get things done
Two of the company’s most “critical” values are “doing it” and “making a splash,” according to Loi.
“It means we know what we’re looking for, we’re moving forward, we don’t have roadblocks, and we’re making things happen,” Loi said. “So we don’t use excuses, we don’t go with ‘I can’t do it’, we find a way and we have the determination to deliver, find the means and break through.”
Storonsky said the company was all about “getting things done,” he told Insider in 2017.
“Delivering wow” means finding ways to create “seamless or amazing” products and experiences for customers.
Specific skills are needed to embody these values and that includes “problem solving,” Loi added.
“It’s about being open-minded, using your logic, your reason, your common sense and being able to think more deeply about problems and find the right solutions,” she said. . “We need people who won’t say, ‘Okay, that’s good,’ but will always ask, ‘What more can we do? How can we aim for excellence? How can we be the best at what we do?”
2. Authenticity is valued
The best way to impress Revolut recruiters is to simply “be yourself” because then they can truly judge whether you are “the right person” for the job.
“If I go to an interview and try to impress by over-emphasizing some aspects that aren’t necessarily true or under-emphasizing others, and I’m accepted for the job, so what we’ve seen from the stats is that the likelihood of that person not staying long is higher than someone who was fully themselves in the interview,” Loi explained.
She advises candidates to be confident and share their knowledge, aspirations, interests and who they really are.
“Show us who you are, not who you want us to think you are,” Loi said.
3. An understanding of the business
One of the most common reasons why job applications are rejected in any industry do not prepare for the interview and do not research the company in advance.
Law urges applicants to “do a little research” and have a “concrete reason” for wanting to join the company.
“Know why you want to get into a business other than that it’s a great brand,” she said.
Loi said applicants should “check out the product” and rate whether they actually like the app and services. Also, research the company culture to determine if it aligns with your values and if you can really see yourself there.
She added: “My general advice to anyone who would like to be part of this journey is to be themselves. Are you hungry? Are you motivated? Do you like solving problems? Most likely it’s a great place for you. So we’re really looking forward to getting more applications, more people coming in, and developing strong talent. We’re very open.