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
3.0
Jun 30, 2015

Decent

Recommend
CEO approval
Business Outlook

Pros

Great people to work with

Cons

Ambiguous process around raises and promotions

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.

1.0
Jun 19, 2015
Recommend
CEO approval
Business Outlook

Pros

no pros, no reason to work for them, nothing, nada

Cons

Very poor management starting from supervisors all the way up to executives. Full of bullies, couple of young bullies who need to impress the senior bullies, no help from HR, many extra work hours with no overtime pay or equivalent PTO, so called VPs that don't have the basics of management, no intellectual skills, no respect for employees, they lie during the hiring interviews, inappropriate comments made to employees, use of illegal substances. DO NOT use their apps on your personal devices (phone, laptop, PC etc) if it happens to work for them

Viewing 1504 - 1506 of 1,560 Reviews

Glassdoor has 1,675 PENNYMAC reviews submitted anonymously by PENNYMAC employees. Read employee reviews and ratings on Glassdoor to decide if PENNYMAC is right for you.