You're a passionate Engineer? Don't work here. Period. - Anonymous employee PENNYMAC Employee Review

1.0
Nov 2, 2014
Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Great cafeteria options (although a little expensive) Great gym and facilities

Cons

If you're a passionate software or infrastructure engineer, just stay away from this place. Not only is there unnecessary process and office politics at every turn, but you have to deal with bully managers and a systemic toxic culture that leaves no room for work/life balance. And as others have mentioned, you will never get a raise at this place, ever. No bonus for you either, while most managers and executives roll into work in their $60k+ cars and have performance incentives in the form of QUARTERLY bonuses. Engineering is seen as nothing more than overhead and a bottom pyramid servicing department (like is the case with most financial services companies). This means they need you to follow orders, and not ask too many questions. Don't expect to have any freedom at all while writing code, or architecting systems either. They might lead you on to thinking you have control, but you have no authority over projects, yet are expected to be responsible for the outcome. Responsibility and authority are inseparable. This dynamic does inevitably lead to failures, that will hang over your head. Still feel like you wanna give this company a try and see for yourself? Well, you'll be looking at legacy code and poorly documented systems all day and working on a ton of dead end projects. Hard work will earn you no credibility whatsoever. You'll spend hours stuck in meetings and managers will then wonder why you're still debugging. You will then be asked to work weekends because "things just need to get done around here". If this is what you want day in and day out, then go for it. They're always hiring Engineers because people keep quitting, so you could very well end up getting an offer fairly quick.

Explore other reviews about PENNYMAC

5.0
Nov 18, 2025
Recommend
CEO approval
Business Outlook

Pros

Amazing people and great culture

Cons

My drive to work is long but its is a great place to work so it is worth the drive.

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PENNYMAC Response
6mo
Thank you for taking the time to share your thoughts on our company. We appreciate your honest feedback along with the pros and cons you mentioned. Our company values open communication, and we take your advice seriously. We will continue to listen to our employees' feedback and work towards improving our communication channels. Once again, thank you for your honest feedback, and we look forward to continuing to learn and grow with you.
1.0
May 31, 2026
Recommend
CEO approval
Business Outlook

Pros

Snacks and you can wear jeans.

Cons

LOW PAY even if you have 20 years of experience and educated. Location. Commute. NO Hybrid options at all unless you came during a specific time period of the company or if you are a manager. If you are an African American be aware that you will be micromanaged more than anyone else. Benefits are expensive and unaffordable.

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