Fintech pays 400,000 tech wages for 40 hour weeks
With the collapse of Silicon Valley Bank (SVB), a large space has opened up for its former rivals to take market share. A rival from San Francisco has increased hiring recently, and their wages are nothing short of mouth-watering.
Mercury was founded in 2017, making it 34 years younger than SVB. It describes itself as providing “financial technology for startups” and processed $50 billion in transactions by 2022. It offers banking services and infrastructure for startups, but stresses that it is not a bank. 🤨
Mercury has 31 vacancies right now. A number of these are in engineering, where they offer incredibly competitive salary ranges:
Of course, these are only the full-time roles. They also offer an internship with the pay rate reaching $55 per hour.
Mercury’s benefits also look pretty special. There is a weekly food budget of $100 and a separate weekly wellness budget of $100, a monthly phone reimbursement of $50, an unlimited book budget and $600 for a custom work from home. They appear very WFH-friendly, but also offer free food and snacks in the office.
Mercury has made a number of senior hires in 2023. The new recruits include a head of risk programs Tara Sandhu, formerly of fintech titan Stripe, and head of communications Celeste Carswell who left Twitter in January.
Their engineering staff in 2023 have a number of high-profile companies on their CVs. Ellie Shang, who joined in January, was previously a technology associate at hedge fund Bridgewater Associates, while Jacob Nave joined the same month from Stripe.
Mercury is rated an impressive 4.6 stars on Glassdoor. A software engineer in 2023 praised his work-life balance, saying he “never worked more than 40 hours in a week.”
However, this does not make it perfect. A compliance manager warns that “too many people were hired in the past year and quiet layoffs have occurred,” while the latest review says the company “is still very disorganized.”
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