PENNYMAC reviews

3.0

44% 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
Oct 12, 2024

Pennymac

Recommend
CEO approval
Business Outlook

Pros

They have an onsite Gym and cafeteria

Cons

1 hour commute, point system for attendance, inbound calls

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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
5.0
Oct 11, 2024

Great place to work!

Recommend
CEO approval
Business Outlook

Pros

You are seen, you are appreciated, you are rewarded for hard work.

Cons

Too bad not everyone wants that in an employer - there are still people around who want to skate through life but still get promoted and paid high salaries.

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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 enjoy 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. Thank you for being a part of our team, and we look forward to continuing our positive working relationship with you.
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,
Viewing 130 - 132 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.