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Enova Employee Talks About What It is Like to Work for an Online Payday Lender

Adam Rust's picture

Posted July 16, 2014

Have you ever wondered what's it like to work for an online payday lender? 

I guess we all have. That's probably a universal, along with perhaps what it is like to be shortstop for the New York


But while Derek Jeter has never posted anything about his feelings, there are job boards for the rest of us to do so. I recently visited one of them. I was trolling for some evidence that a certain consumer finance company incents its employees to sell credit insurance. But then "Enova" caught my eye....

The "most helpful" job review from Indeed.Com's job board on Enova Financial provides a pretty compelling answer to the question posed at the beginning of this entry. True, there are scores of "reviews" on Indeed and most cover typical employment questions. "Is there a "work-life" balance?" "Is it possible to advance inside the company?" "Are there times when the work is boring?" Those are important things to understand if you are contemplating any job. But one reviewer decided to talk instead about the moral implications of his work. 

Here is an excerpt: 

Pros: I'm able to pay some of my bills.

Cons: Convoluted and false pathway to advancement, company-first approach (not employee or customer first), core values aren't reinforced or visible in the daily lives of employees.

In the payday/installment/line of credit loan industry, handling escalated calls requires a certain level of apathy. Despite the fact that the customers signed a legally binding contract, there is not a sense of moral responsibility communicated down from upper management when it occurs that our loans alone, because of interest and fees, is the cause of customer's circumstances worsening. And only puts policies in place to help customer's experiencing a hardship when we've had a number of official complaints and financial regulators visit to assess our loan products and processes. The hardest part of my job isn't the above, though. 

Later, after discussing several topics concerning management, promotions, and rules, he returns to the question of morality: 

What I learned is that once a person becomes interested in management, there will be many things that they will be required to let go of. Morality, to a large degree, would be the primary thing.