Pros
Use to be a good place to work before the founder left and KKR bought it out and brought incompetency with them
Cons
As a former employee of MYOB, I feel compelled to warn others about the dire state of this once-promising company. Over the years, I have witnessed a steady exodus of competent individuals, leaving behind a workforce of mostly incompetent managers who have secured their positions through nepotism rather than merit. These managers, who lack even a basic understanding of technology, are now at the helm of technical teams, leading to a state of utter frustration among the remaining developers.
The situation at MYOB is reminiscent of the infamous Theranos scandal, where the scientists were fully aware that the company was on fire, but the product people remained blissfully ignorant. At MYOB, all expectations and workload fall on the shoulders of the developers, while the product people spend their days in endless meetings, accomplishing nothing of substance. To make matters worse, product people often drag developers into these meetings to do their job for them, further burdening the already overworked development team.
During my last few months at myob, a very high up person in the company that was part of the executive team at the time admitted that layoffs were imminent due to the rise of artificial intelligence. This revelation only adds to the pervasive sense of job insecurity that plagues the company as they have also done rounds of layoffs in the recent years.
MYOB's inability to innovate is a direct result of being overrun by product people who are more concerned with their own status than with building a better product. This has led to a stagnation in product development over the past few years, despite the company employing thousands of people.
It is no secret that MYOB is desperate to sell the company, but any investor would be foolish to acquire it in its current state. Employee engagement, particularly among developers, is at an all-time low, with many competent individuals leaving for other companies, tired of the incompetent management and low wages. When the next competitor, similar to what happened years ago with Xero, emerges, MYOB will be utterly incapable of competing due to its complete lack of innovation.
The future of MYOB is bleak, with what I see as two potential outcomes: either another company will run it into the ground, or a major security breach will occur due to the messy state of the codebases and the constant departure of key personnel who understand them. In either case, the end result will be the same - the downfall of a once-promising company that has been riddled with incompetence and mismanagement.
In conclusion, I strongly advise against joining or investing in MYOB. The company is a sinking ship, and those who choose to stay aboard will inevitably go down with it.
Save yourself the frustration and heartache, and seek opportunities elsewhere.
