PENNYMAC reviews

3.1

47% would recommend to a friend

(1,564 total reviews)
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David Spector

54% approve of CEO

48% positive business outlook

PENNYMAC has an employee rating of 3.1 out of 5 stars, based on 1,564 company reviews on Glassdoor which indicates that most employees have a good 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
4.0
Oct 5, 2024
Recommend
CEO approval
Business Outlook

Pros

Less red tape than most companies in regards to cross team problem solving and collaboration. Friendly and supportive management that let you play into your strengths and develop new skills.

Cons

Very pushy on the in office collaboration and resistance of remote and hybrid options. Culture is very college fraternity/sorority feeling. Very slow at pay raises. There are no yearly cost of living or merit raises only "market adjustments" every 2-3 years. Bonuses are capped at a certain percentage. So even if you do go "above and beyond" you get the same bonus as your slacker teammate. The mortgage industry is very feast or famine. I survived 2 layoffs at the beginning and then working a skeleton crews until rates got better. In busy season management tends to give all resources and energy to new hires and leaves more senior people to figure things out on there own.

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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,
1.0
Sep 6, 2024
Recommend
CEO approval
Business Outlook

Pros

There was a 4 day work week

Cons

Management was the WORST micromanagement in the world. It was so bad there should be a law against it. No work life balance Hard to move up Atmosphere was the worst; senior management using street profanities

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PENNYMAC Response
1y
Thank you for sharing your review. We understand your experience was not a positive one. We are actively focused on building a work environment that supports employee growth and well-being in all aspects. We believe in the continuous improvement of our benefits, employee experiences, and leadership. Your feedback is important as we evaluate and strive to enhance our overall impact.
3.0
May 21, 2024
Recommend
CEO approval
Business Outlook

Pros

The people you work with

Cons

Management, more concerned with putting on a gold tournament than its people.

Viewing 301 - 303 of 1,564 Reviews

Glassdoor has 1,680 PENNYMAC reviews submitted anonymously by PENNYMAC employees. Read employee reviews and ratings on Glassdoor to decide if PENNYMAC is right for you.