Welcome to this weekly roundup of stories from Insider. I’m Olivia Oran, filling in this week for Matt Turner. Subscribe here to get this newsletter in your inbox every Sunday.
What we’re going over today:
- Compare pay from over 250 companies with our new salary database.
- Uber execs had to address the massive employee turnover.
- The 57 promising fintechs that are revolutionizing Wall Street.
- Ryan Tolkin built Schonfeld into an $8.8 billion hedge fund.
What’s trending this morning:
- Reclusive billionaire and Google cofounder Larry Page has been off the grid for over a year. We tracked him down in Fiji.
- Ritzy day camps cater to wealthy families who have been driving some staffers crazy over photo ops.
- Tension is rising at Disney – Bob Iger’s stalled exit has frustrated CEO Bob Chapek, and the executives are no longer as friendly as they once were.
- The crypto wave continues to surge – JPMorgan became the first big bank to give retail wealth clients access to cryptocurrency funds.
- From extravagant off-sites to a $7,000 ‘perks allowance,’ companies are launching new initiatives to make WFH less remote.
Insider compiled more than 250,000 salaries across more than 250 major companies, including Facebook, Amazon, Google and Lyft. Our new database is searchable by company and job title:
For a long time, sharing salary information has been a major taboo in America, which makes it difficult to know how much you should be getting paid.
To help prepare you for your next salary negotiation, Insider has created a searchable database of the last three years of salary disclosures, collected from the USCIS website, curated to a range of more than 250 companies that Insider reporters regularly cover.
The data is filterable by employer name, type of job, and job location, catching the differences between software engineers in Silicon Valley and Miami.
See the database here:
- Headed to a job interview? These are the red flags to look for that indicate a company’s culture won’t be right for you
- Salesforce is on a hiring spree this year. Here’s how much it pays for roles in engineering, data science, product management, and customer support
Employees are leaving Uber so fast that executives had to have an all-hands meeting about it. The pandemic has caused many workers to change jobs or careers, though some Uber staffers blame uninspiring leadership:
The worry with a high attrition rate, said Uber employees and HR specialists, is that the company could lose key talent, causing leaders to spend more energy hiring replacements rather than focusing on the business.
An internal email from June announcing new roles for two HR employees said they would be “hyper-focused on recruiting and attrition.” Uber has hired more than 200 senior managers in the past six months, according to a person familiar with the matter.
Current and former Uber employees differ on why turnover is rising so much. Some chalk it up to longtime colleagues pursuing fresh opportunities. Others said it reflects Uber’s current culture and the leadership of CEO Dara Khosrowshahi, which, though far less tumultuous than the Travis Kalanick days, can also be less inspiring.
Read the full story here:
- Uber is losing so many employees that executives had to address questions about the problem at recent all-hands meetings
- Inside WeWork’s IPO meltdown: How Adam Neumann and Wall Street’s chaotic partnership obliterated $40 billion in value
- Lululemon CEO says in leaked email the company will no longer use ‘Whitespace’ name for its innovation wing after backlash from employees
Insider asked more than 40 top fintech investors – from Citi Ventures to Fin Venture Capital – to nominate the most promising fintechs to watch this year. The list includes a number of top B2B startups – here’s a preview:
Cited by: Activant Capital (investor)
Total raised: $50 million
What it does: Cardless enables brands to launch their own digital credit cards.
Why it’s promising: “Cardless enables modern brands and fintechs that have built strong communities to offer innovative and rewarding digital credit cards to their consumers, allowing these companies to launch programs in weeks versus six to nine months with best-in-class developer infrastructure,” said Steve Sarracino, founder and partner at Activant Capital.
Check out the full list here:
- 13 promising consumer fintechs aiming to be the next household names like Robinhood, Chime, and Coinbase
- Tech startups can’t hire fast enough. Here are 25 important people to know if you want to land one of those jobs.
What started as a family office evolved into an industry giant with over 600 employees – and 34-year-old Ryan Tolkin led the way. Insider spoke to those who know him best to better understand who he is and what drives him:
How he got to his lofty perch is a combination of natural ability and extreme focus and discipline, said those who know him best. Professors described him as both intelligent and prepared, while fraternity brothers remember a driven friend who wouldn’t let anything get in the way of his ultimate goals.
Schonfeld has grown into one of the industry’s more prominent multi-managers thanks to years of solid performance, fundraising, and aggressive hiring.
Now, after being appointed CEO at the beginning of the year and launching a new macro division more recently, Tolkin is riding as high as ever.
Find out more about the ambitious CEO here:
- Inside the rise of Ryan Tolkin, the 34-year-old investing mastermind behind Schonfeld’s transformation from family office to 600-employee hedge fund heavyweight
- Millennium is using its AWS-hosted cloud tech as a key weapon to attract and retain top portfolio managers
- A slew of Wall Street firms are raising pay – here’s our running list
Finally, here are some headlines you might have missed last week.
- The US Olympic fencing team is in uproar over the handling of sexual-assault claims against one of its members
- Project managers can command upward of $140,000 a year. A new Google certification can help you become one in 6 months.
- 19-year-old crypto whiz kid Will Clemente breaks down 4 charts and on-chain data points that signal the bitcoin bull market is far from over
- The definitive oral history of how Trump took over the GOP, as told to us by Cruz, Rubio and 20 more insiders
- ‘A generational wealth opportunity’: 4 top Wall Street analysts share the cannabis stocks to buy now
- Hundreds of Google employees call on company to change sexual-misconduct policies that they say put the burden on survivors
- This tiny-home startup has built only 3 houses, but one’s for Elon Musk. Now its CEO is trying to crowdfund $50 million from eager Tesla fans.