PENNYMAC reviews

3.0

45% would recommend to a friend

(1,560 total reviews)
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David Spector

51% approve of CEO

46% positive business outlook

PENNYMAC has an employee rating of 3.0 out of 5 stars, based on 1,560 company reviews on Glassdoor which indicates that most employees have an average working experience there. The PENNYMAC employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

2K reviews
2.0
Mar 8, 2025
Recommend
CEO approval
Business Outlook

Pros

They had a cafeteria and catered food

Cons

The Morale was super bad. They do not give any yearly raises regardless of Performance In the Research Corresponding Dept

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PENNYMAC Response
1y
We are sorry to hear about your experience in our workplace. We assure you that it is never our intention to create a stressful work environment for any of our employees. However, we appreciate you sharing your feedback with us, as it allows us to improve and make necessary changes for the benefit of our team members. We want to emphasize that we value the well-being of our employees. We understand that everyone operates differently and have personalized needs, and we try our best to accommodate those needs while still accomplishing our business goals. Nevertheless, we are continually looking for ways to make our workplace more amenable, so employees can come to work feeling fulfilled and engaged. Our company aims to learn from past mistakes and find better solutions because of them. Thank you for taking the time to write this review, and we wish you the very best in your future endeavors. If you decide you want to express more, please feel free to email our team: employeerelations@pennymac.com
3.0
Mar 5, 2025
Recommend
CEO approval
Business Outlook

Pros

Health insurance premiums, while high, did not raise in cost year to year. They gave an additional 5 days of PTO this year. The office environment is pretty casual and friendly. Management tries to keep it fun with provided lunches & optional after work events. If you do your job, no one bothers you about being on your phone during calls.

Cons

There are no annual raises. It doesn't matter how well you perform yearly, your pay will never increase which means you are losing money the longer you work. They do not promote from within, I have been fully qualified yet rejected while the jobs are offered to external candidates. Pennymac decided to spend hundreds of millions of dollars sponsoring the Olympics one day after the CEO sold nearly 7,000 stock shares and a lot of their execs seem to have sold a lot of their stock in the months post election. The sick time is given as a bundle of 40 hours that replenishes annually on your anniversary, and you earn a little over 3 hours PTO every two weeks. The management is very anti-WFH and will rarely give you that option even on a holiday.

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PENNYMAC Response
1y
Thank you for taking the time to share your thoughts about your experience working at Pennymac. We understand feeling disappointed in your compensation package. We have been growing our total rewards package (tuition reimbursement, charitable and volunteer matching programs, wellness programs, and increased paid time off) to continue to increase the value we provide our employees in this very competitive environment. Please know that we take all feedback seriously and are committed to providing a positive working environment for all of our employees. We value your willingness to learn and hope that you will continue to apply the skills and knowledge acquired during your time at Pennymac in your future endeavors. As an organization, we are committed to building an inclusive work environment where our people can grow their careers and directly contribute to the growth of the company. Our commitment does not mean we are perfect, Our managers and leaders are human just like the rest of us, however, our commitment does mean that we are diligently striving to do better. Thank you for being a part of our journey to excellence,
5.0
Mar 2, 2025
Recommend
CEO approval
Business Outlook

Pros

Breakfast is world-class and all you can eat

Cons

Corporate environment can be difficult

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PENNYMAC Response
1y
Thank you for taking the time to provide your honest feedback about your experience with our company. We are delighted to hear that you enjoyed working with us in your capacity and appreciated the friendly work surroundings. Indeed, we believe that a positive work/life culture is a crucial aspect of any successful business, and we are glad that you recognized our efforts in this regard. We understand the challenges that the mortgage lending industry can present, particularly when it comes to external factors such as interest rates. Nonetheless, we appreciate your candid feedback and have forwarded your comments in the hope to improve as we strive to provide an environment that supports engagement and growth. We are always willing to learn from our employees' experiences and suggestions. Therefore, we will continue to monitor the working environment, listen carefully to feedback, and make any improvements necessary. Thank you for being a part of our team.
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