PENNYMAC reviews

3.0

46% would recommend to a friend

(1,564 total reviews)
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David Spector

52% approve of CEO

46% positive business outlook

PENNYMAC has an employee rating of 3.0 out of 5 stars, based on 1,564 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
1.0
Sep 4, 2023

Poor Pay for your hard work

Recommend
CEO approval
Business Outlook

Pros

Hybrid work schedule . Work from home

Cons

Increase job duties and no increase in pay. No promotion opportunities. Managers are not helpful, as they are overwhelmed and swamp with work.

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PENNYMAC Response
2y
Thank you for taking the time to provide your feedback on your experience. We appreciate your willingness to share your thoughts and concerns. We understand that you feel the pay for your hard work is not commensurate with the increase in job duties. We acknowledge that this can be frustrating and demotivating. We want to assure you that we value your contributions and recognize the effort you put into your work. Regarding promotion opportunities, we understand your disappointment. We strive to provide growth opportunities for our employees and we apologize if you feel that this has not been the case. We will take your feedback into consideration as we continue to evaluate our career advancement programs. We also hear your concerns about the availability and support of our managers. We understand that their workload has increased, and we apologize if this has affected their ability to provide the necessary guidance and assistance. We will address this issue and work towards finding a solution that ensures our managers are able to support their teams effectively. In terms of compensation, we understand your frustration and we apologize if you feel that the pay does not reflect your hard work. We constantly review our compensation packages to ensure they remain competitive within the industry. However, we will take your feedback into consideration and evaluate any potential adjustments that may be necessary. We appreciate your dedication and willingness to learn. Your feedback is valuable to us as we strive to create a positive and rewarding work environment for all our employees. If you have any further suggestions or concerns, please do not hesitate to reach out to us. Thank you once again for your feedback.
1.0
Jul 5, 2023
Recommend
CEO approval
Business Outlook

Pros

Penny Perks once in awhile

Cons

Massive layoffs, retained poor earners, micromanagers, negative management Operations VP with nasty attitude. They are unstable to work for, high stress and expecting you to believe in their culture. Never apply!!

2.0
Jun 13, 2023
Recommend
CEO approval
Business Outlook

Pros

Vacation and sick are generous Some of the management at Pennymac actually care about their employees and most of those managers are female. Forget the dude crew......

Cons

A lot of work, little pay Little recognition Fully Remote is not offered for most positions Senior management is a boys club and all they care about is how quickly they can make it to the top. Employees are not thought about.

Viewing 223 - 225 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.