Enova
Enova Compensation & Benefits
Frequently Asked Questions
Enova ensures pay and bonus plans are competitive by benchmarking our roles and compensation programs against established market data. While we conduct a formal compensation review annually, adjustments are made as necessary (e.g. promotions, role changes, new role implementations).
A key differentiator at Enova is our 'promote when ready' philosophy. We don't require employees to wait for an arbitrary annual cycle to move up; if you're performing at the next level, we believe you should be recognized for it.
Enova has salary ranges, bonus targets and equity targets (if applicable) for each role. We provide guidelines and training to decision makers, aligned with best-practice and our pay-for-performance philosophy.
Our pay-for-performance philosophy is backed by results. Enova’s sustained performance has fueled well-funded bonus programs, even during broader economic headwinds. 100% of Enova roles are incentive-eligible, whether through our corporate bonus program (which has historically seen strong funding), commission plans, or our operations bonus programs.
In 2025, 86% of employees responding to Enova’s semi-annual survey said they value their perks and benefits. Employees also noted they feel supported navigating Enova’s benefits offering and enrollment process. Enova offers a comprehensive benefits package designed to enhance the daily lives of our team members through competitive financial support and holistic care. We cover a significant majority of employee health insurance premiums—offering both HDHP and PPO plans with HSA/FSA options—and provide specialized wellness perks like pet insurance, cell phone reimbursement, and annual on-site biometric screenings and flu shots. To support long-term financial security, we provide a 401(k) match of up to 3.5% with a two-year cliff vesting schedule. Our commitment to work-life balance is reflected in our meaningful time-off policies, which include 21+ days of PTO, nine paid holidays, and up to eight weeks of paid parental leave. Additionally, Enova differentiates the employee experience by investing in professional growth through learning and development opportunities, while providing daily conveniences such as commuter benefits and on-site meals and snacks.
Leadership reinforces this by benchmarking plans and perks annually against market data; reviewing employer contributions each year; soliciting employee feedback on perks and benefits; publishing a benefits guide; offering Q&A sessions during open enrollment; and auditing vendors to ensure quality and accessibility. Additional signals include high benefits and perks satisfaction scores in employee surveys; and strong 401(k) participation rates.
Enova goes above and beyond to ensure our employees and their families have access to the healthcare services they need. Through BBS PPO, our health plans include one of the nation's largest networks of providers and pharmacies across the country. Enova’s plans cover more than the Essential Health Benefits, we cover supplemental services including acupuncture, chiropractic care, hearing aids, and infertility treatments with no maximum benefit. Since 2022, we have offered a reimbursement for travel expenses incurred by employees who do not have access to covered services by providers near their home.
Enova offers equity through our long-term incentive program available to a substantial portion of our corporate roles. For eligible employees, this can be a powerful wealth-building tool.
Our focus and discipline toward our company mission and values have led to long-term share price growth. This appreciation has made equity a meaningful compensation vehicle for participants.
We typically grant equity as Restricted Stock Units (RSUs) that vest annually over four years. Grants are administered via E*TRADE, giving employees real-time visibility into their vesting schedules and the value of their awards. We also prioritize retention by granting annual awards to eligible employees in good standing as part of our total compensation package.
