Backend Engineer, Monzo
£75-105k
Plus stock options
More information about location
Digital-only bank platform and marketplace
Open for applications
Digital-only bank platform and marketplace
1001+ employees
Open for applications
£75-105k
Plus stock options
More information about location
1001+ employees
Company mission
To build a new kind of bank that makes money work for everyone.
Role
Who you are
- You have strong experience working on the backend of a technology product
- You want to be involved in building a product that you (and the people you know) use every day
- You have a product mindset: you care about customer outcomes and you want to make data-informed decisions
- You’re comfortable working in a team that deals with ambiguity
- You’re interested in distributed systems and writing resilient software
- You have some experience with strongly-typed languages (Go, Java, C, Scala etc.)
- You think you’d enjoy the kind of work we’re doing
- We're on the look out for L40, 50 & 60 Engineers
What the job involves
- As an engineer here you'd be able to work directly with anyone across the company, and we run regular knowledge-sharing sessions so you’ll learn heaps about everything from how banks work to effective communication
- This role is all about collaborating across disciplines to test hypotheses and make a difference to customers
- As a product backend engineer you’ll work in a squad alongside product managers, marketers, user researchers, designers, mobile engineers, web engineers, data analysts, business analysts, writers and more!
- Together you’ll build and support a particular part of Monzo. Our product squads belong to our wider collectives (a word we use to describe self-governing business units of ~100 people). They are; Money, Borrowing, Fincrime, Customer Operations, Platform, Personal Banking & Business Banking
- They’re all looking for additional Backend Engineers right now, we do a standard interview process across all our collectives and at the end we will find the best match for you based on your skills, experience, preferences and aligning with the business need!
Application process
- Recruiter Call
- Initial Call
- Take home task or pair coding exercise
- Final interview including a system design and a behavioural interview
- Our average process takes around 2-3 weeks but we will always work around your availability
Salary benchmarks
Otta's take
Sam Franklin
CEO of Otta
Monzo is a challenger bank that fully operates online and offers a full range of current, savings, business accounts, and more. The speed of the challenger banks to provide a great experience has been impressive, and the number of competitors appearing has proven the consumer desire for innovation.
Monzo remains one of the popular online banks, with more than 6 million customer active users. The company faces competition as more traditional banks, such as Goldman Sachs and JP Morgan, have launched their own digital banks. However, the new technologies that the company is built on enable it to expand quickly (with fewer issues) than the incumbent players' offerings.
With an increasing amount of people switching banks, the company's ever-expanding suite of banking and financial services (such as its buy-now-pay-later offering) has resulted in Monzo receiving the second-highest net switching gains among digital challenger banks (just behind Starling).
After setting U.S. expansion plans aside in 2020, the company launched in the U.S. market in early 2022, partnering with Sutton Bank to provide its U.S. accounts. After several years focused on narrowing its losses, Monzo hit profitability in the first two months of 2023. In the same year, 2 million new customers joined, tallying its customer base at 9 million in 2024.
Insights
Many candidates hear
back within 2 weeks
42% female employees
19% employee growth in 12 months
Company
Funding (last 2 of 18 rounds)
May 2024
$190m
LATE VC
Mar 2024
$438.1m
LATE VC
Total funding: $1.9bn
Company benefits
- Yearly Salary Review + Proactive pay increases to reflect growing responsibilities + Share options
- Flexible working hours
- Work From Home Opportunities + we'll pay for any equipment you need to do your job
- 24 days holiday a year, plus bank holidays
- Paid sick leave for both physical & mental health + Health insurance via AXA or Vitality + Additional health insurance through Medicash
- Employee Assistance Programme
- Learning budget of £1,000 a year
- Aviva Pension Scheme + 4% Employer Contribution
- Paid maternity, paternity, adoption or shared parental leave (after 13 weeks of employment)
- 52 weeks of primary caregiver leave (6 months at 100% pay, 13 weeks at Statutory Maternity Pay, 13 weeks unpaid)
- 3 months of secondary caregiver leave at 100% pay
- Unum Life Insurance
- Access to fertility and family-forming health benefits via Fertifa
- Abellio Season Travel Tickets + Cycle-to-Work Scheme
Company values
- Be hard on problems, not people 🙌 We create supportive communities to help people thrive.
- Make a difference 🚀 We solve real problems, working on things that have the biggest impact for our customers and each other.
- Help everyone belong 🤗 We’re building a bank for everyone. We embrace differences and make sure everyone feels welcome.
- Think customer first; grow Monzo safely 🥕 We always do what's best for customers. It's the right thing to do and the safest way to grow.
- Default to transparency 🎤 We’re open with each other and customers unless we have good reason not to be.
- Think big, start small, own it 🌲 We’re ambitious and shoot for the moon, working iteratively to get the best results.
Company HQ
City of London, London, UK
Founders
Jonas Templestein
(CTO)Founder of HipDial. Former Software Engineer at Starling Bank.
People progressing
Joined in the Customer Operations team. Moved to be a Financial Crime Analyst after 5 months. Then moved again to be a Business Analyst after 2.5 years. Currently working as a Senior Product Manager.
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