Do yourself a favor and avoid this place - Developer PENNYMAC Employee Review

1.0
Jun 23, 2015
Recommend
CEO approval
Business Outlook

Pros

The company is growing out of control, the amount of work that it's creating for itself means that there will always be insufficient staffing, and therefore you will always be tasked with learning a new skill because no one else will be put into the position that actually handles those tasks.

Cons

Where do I start? This company's projections are irrational. They are biting off more than they can chew, stressing out employees and every single department. They are lacking in infrastructure, aside for being understaffed and having the feel of a sweatshop. You get 10 vacation days per year, which you have to accumulate. Also the case with sick time, you accumulate 4 hours per month. Things here are grim on every perspective. starting with lack of parking spots, (translating into having to walk from a different company's parking lot on a different street for 10 minutes until you get to your building), continued with the crowded work environment (which is often so loud you can't actually focus on work) to the poor computing technology that hardly supports the tasks needed to be done on a regular basis. The absolute worst of this company is that management is severely lacking in leadership skills. often managers will not acknowledge their employees or even realize how knowledgeable and experienced they are. Career pathing is formally not on the agenda. nepotism rages out of control. You will most likely not get a raise, ever. I have seen people get promoted 2 or 3 times, without getting a raise, with the title change being delayed up to 3 months, and taking on additional responsibilities while minimizing their personal life outside of work for the sake of being able to function. HR is a joke, they take forever to handle claims, and in some cases they even drop the ball to a point where medical workers comp claims get denied because they don't provide forms in due time. Executives pretty much will not acknowledge your existence even if you interact with them on a daily basis. Unless a manager need something from you, he will not even say hello. Promotions are often based on veterancy and position availability. most of the time because of the high turnover rate - positions will just become available and it will be cheaper for the company to promote somebody from within without giving them a raise, rather than hiring somebody from the outside and to try and match market salaries.

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.

avatar
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.

See reviews by: Helpful|Rating|Date|All