Is it great to work at Binance? Dcard netizens posted articles to spark discussion

What is it like to be on Binance, the world’s largest cryptocurrency exchange?

Recently, a Dcard netizen posted a question on the technology industry section: "Has anyone worked at Binance?" This triggered many netizens' responses and discussions. Some netizens who claimed to be former Binance employees shared their experiences. Some said they were laid off last year and their work was very difficult. Fuck, some people say they dare to give out bonuses.

Dcard netizen: Severe layoffs and 30-month bonus?

Some netizens said that he was laid off by Binance last year and received a severance package of n+1 (2 months salary). He claimed that the entire department was laid off last year. Even if his performance in the previous year was in the top 10% of the company, he could not escape the fate of layoffs. "The layoffs are really not lenient."

Source: DcardDcard netizen claimed that he was fired by Binance last year

Some netizens also claim to have worked at Binance from 2018 to 2022. The company culture is different in each period, and it is much better now than in the previous period. Mainly, it still requires immediate combat ability and a positive personality. Now it may also require upward management, that is, influencing the actions or decisions of the boss through effective communication, proactively asking questions, etc.

Source: DcardDcard netizen claims to have worked at Binance from 2018 to 2022

However, some netizens have a poor impression of Binance and the cryptocurrency industry. Not only do they think Binance is a "Chinese-owned boss" and "the salary is actually not high," they also say that the cryptocurrency industry is inseparable from money laundering, and people go to conferences for high salaries. "Dirty resume."

However, some netizens refuted the above arguments in detail. He said that at several specific points in time, Binance’s salary was definitely one of the highest companies on the planet. He claimed to have entered Binance in 2018, and his salary was all in cryptocurrency. The base salary was +7% of the previous company salary, which was not much.

However, since two bonuses were issued that year, I received a total of 30 monthly bonuses. In addition, between 2019 and 2020, due to the surge in the cryptocurrency market, his dividend assets increased nearly 50 times in two years after deducting necessary needs.

He also doesn’t think that having worked at Binance will stain his resume, because after leaving his job in 2021, he joined SG Meta and his monthly salary increased by 2.5 times.

Source: DcardDcard netizen claimed that Binance once issued a 30-month Bonus bonus

In addition to the discussion above on Dcard, in 2022, some netizens on PTT also reported receiving an offer from Binance. He claimed that Binance offered him an annual salary of about 1.6 million (including bonuses), which could be as high as 1.8 million if optimistic, and his position was SDET (design, develop and maintain automated test scripts and testing frameworks).

(Crypto City) Actual interviews with current Binance employees

In addition to discussions among netizens, (CryptoCity) also asked current Binance employees about their work experience. Although they were unable to respond to questions related to layoffs and company budgets due to regulatory reasons, they did respond to our views on Binance’s remote work culture and career development.

The following are the interview questions and the other party’s responses. For the sake of objectivity, they will be presented in the form of Q&A for reference by readers who are curious about Binance’s work status or experience:

Q1: How does Binance’s remote working culture promote the efficient operation of global teams? What are the advantages and disadvantages of this management style?

A1: The most common problem in remote work is untimely communication. Therefore, the two work cultures of "flexibility" and "self-discipline" are very important. Binance’s working hours are basically flexible. In order to work effectively as a team, we need to arrange the work rhythm in accordance with different time zones, and we will try to complete matters that need to be communicated closely within the common working hours.

In addition, no one stipulates what time you clock in, so employees need to be disciplined to deliver results within the time limit. The advantages of this working model are as everyone thinks. You can arrange your working time and leisure time very flexibly, but the communication cost will definitely be higher than that of a physical office. For example, if a colleague changes time zone, you will have to start a new one. Get used to your work rhythm.

As the saying goes, love is divided into three parts when meeting. Colleagues who have not met in person will need to spend more effort when getting along, and the cohesion of the team will be relatively poor.

Q2: How will working at Binance help your future career development? How valuable is it to cryptocurrency industry practitioners?

A2: Binance’s work experience is very rare for a cryptocurrency practitioner in terms of depth and breadth. Binance has access to a large number of users from different markets around the world. Different markets have very different regulations, product functions, and user needs. Under such restrictions, effectively creating world-leading products is a science.

In addition, as the world's number one brand, how to balance the possibility of maintaining existing customer base and creating new ones in this rapidly changing industry is also an experience that is difficult for other companies to gain.

At present, there are only a handful of companies that can provide the above two work contents. If you want to stay in the cryptocurrency field in the long term, Binance’s experience is very valuable.