Freddie Mac

  www.freddiemac.com
  www.freddiemac.com

Freddie Mac Reviews

Updated December 15, 2014
Updated December 15, 2014
368 Reviews
3.3
368 Reviews
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Freddie Mac CEO Donald H. Layton
Donald H. Layton
101 Ratings

Review Highlights

Pros
  • Freddie continues to offer a favorable work/life balance environment (in 61 reviews)

  • Great benefits but work-life balance depends on the area you work in (in 31 reviews)


Cons
  • Company is currently under conservatorship and company future is uncertain (in 12 reviews)

  • Senior management is always changing and the room for growth seems to be diminishing (in 23 reviews)

More Highlights

127 Employee Reviews Back to all reviews

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  1.  

    Enterprise Architecture Department - unhealthy place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Freddie Mac full-time (more than 10 years)

    Pros

    Mature in processes and thinking process

    Cons

    Most senior architects are leaving due to unhealthy management practices

    Advice to ManagementAdvice

    Respect the talent

    Doesn't Recommend
    Negative Outlook
  2.  

    Excellent Benefits, Terrible Compensation...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Data Analyst in McLean, VA
    Former Employee - Data Analyst in McLean, VA

    I worked at Freddie Mac full-time (more than 3 years)

    Pros

    1) Work / Life Balance - Flex Hours & Telecommuting
    2) Healthcare benefits are great for families
    3) Friendly Co-workers
    4) Cafe food is really good

    Cons

    Compensation -- Middle management on up needs to learn to promote from within. Pay people according to their skill level (regardless of their tenure on a particular team)...this will drive down employee turnover. So many talented people have left purely for this reason.

    Advice to ManagementAdvice

    Keep up the good work on updating outdated IT infrastructure and moving the company into a competitive marketplace, but dont forget to adequately compensate the folks who are working so hard on building the future of the housing market.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Great place to have hands on experience with technology tools/applications

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Information Security Associate in McLean, VA
    Former Employee - Information Security Associate in McLean, VA

    I worked at Freddie Mac full-time (more than an year)

    Pros

    This is a great place to work if you have a technology background. This was my first job out of college and I was exposed to a number of high dollar price applications/tools. They have a great technology rotational program that literally lets you choose 3 different areas of the company you would like to try out before you get positioned full-time. I did business analyst, security analyst, and application support. If your new to corporate world, this place gives you ample opportunity to learn what areas most interest you.

    Cons

    At the end of the year and a half rotational program, you continue to have the same salary you started with. This is part of the reason why I left, because after a year and a half, you'd expect to get somewhat of a salary increase. Another thing would be the politics. Things have to go through a turtle like approval system. Seems like nothing get done fast enough.

    Advice to ManagementAdvice

    Give a salary increase after your rotational programs. That was the only reason I started looking for another job, I have a year and a half of experience and any other company is willing to give me anywhere from 5-10% increase on what I was making.

    Recommends
    Neutral Outlook
    No opinion of CEO
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  5.  

    Good Company, but going through a lot of changes.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Project Manager
    Current Employee - Senior Project Manager

    I have been working at Freddie Mac full-time (more than 10 years)

    Pros

    The company has great benefits,good work-life balance, good training opportunities, etc., but it all comes down to what division/group you work in.

    Cons

    The company is currently going through a lot of changes, which in a lot of cases can lead to uncertainty.

    Recommends
    Neutral Outlook
    Approves of CEO
  6. 8 people found this helpful  

    Correcting review "All about saving money ..."

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Director in McLean, VA
    Current Employee - Senior Director in McLean, VA

    I have been working at Freddie Mac full-time (more than 10 years)

    Pros

    The company still provides matching contributions to the 401(k) plan -- up to 6% of comp, subject to IRS limits. They provide a temporary contribution to offset the termination of the pension plan (but it's not nearly high enough to make up for the loss of future years of service under the pension plan). Senior management's comp is governed by law and the FHFA -- they are not "fatcat executives" -- at least not when compared to executives at financial institutions that are not in conservatorship.

    Cons

    In the past few years, Freddie Mac has cut employees and benefits. They terminated the pension plan. They reduced the severance plan. Yes, they got rid of free soda. Compensation is stagnant (raises of 1% - 2% per year). They eliminated matching contributions for employee's charitable contributions. They have increased the employee's share of the cost of health insurance premiums. Notwithstanding their promotion of flexible work arrangements, many managers frown upon the practice. They have revised the compensation system to favor "above plan" employees to the detrimiment of "on plan" and "below plan" employees and, at the same time, they have instituted an employee performance system that forces managers to rate 10% of employees as "below plan." Consequently, some "on plan" employees will be rated "below plan" and will received reduced compensation without any justification for such a rating or reduction. Given this recent experience, I would expect comp and benefits to be further reduced in the future.

    Advice to ManagementAdvice

    Despite wanting to be a "great" company, senior executives manage towards mediocrity when it comes to compensation and benefits. If the company wants to be like Google, it needs to provide comp and benefits like Google, not the "midpoint of the comparator group of similar financial services companies" (HR double speak) that they always say they look at when determining comp and benefits.

    Recommends
    Neutral Outlook
    Approves of CEO
  7. 3 people found this helpful  

    It used to be a very good place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Director
    Current Employee - Director

    I have been working at Freddie Mac full-time (more than 10 years)

    Pros

    Smart and friendly people, good work/life balance

    Cons

    Reorganization does not make sense

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  8. 1 person found this helpful  

    CEOs come and go!!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Accountant in McLean, VA
    Former Employee - Accountant in McLean, VA

    I worked at Freddie Mac full-time (more than 10 years)

    Pros

    Good pay, but have to be lucky to work in a department that has reasonable hours.
    The benefits are okay, although it has been reduced in the last year or so.
    Have many employees that have a lot of experience and knowledge about the industry and the legacy systems.
    Mostly good people that work well with others.

    Cons

    Too many changes in the top management. Each CEO brings his own style of management and they all want to reorganize the divisions/departments because they claim to understand things better than the previous administration!!
    The latest CEO seems to suggest that there are a lot of underperformers in the company, so there is a push for management to be tougher on their staff. Good managers play it fair and push back some, but many feel powerless and do what they are asked to do regardless if it is the right thing to do or not!! Sorry, but CEOs come and go, but the effect they have on the company and the employees can last several years. The company hires experienced executives and managers, but in some cases they are not good leaders because they can't manage people well!!

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  9. 5 people found this helpful  

    Great people, public mission, painful bureaucracy

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President in McLean, VA
    Former Employee - Vice President in McLean, VA

    I worked at Freddie Mac full-time (more than 10 years)

    Pros

    Freddie Mac's strength is the knowledge, talent and passion of its core people. If you want to work on challenging problems with big data, it offers lots of opportunity. The salary is good at senior levels.

    Cons

    Benefits are scaling back. The company is horribly bureaucratic. The executive leadership is territorial, lacks courage, and kowtows to the regulator's caprice.

    Advice to ManagementAdvice

    Grow conviction, lead the business, and realize the effects of your current practices on the franchise.

    Doesn't Recommend
    Negative Outlook
  10. 2 people found this helpful  

    Frustrating

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - SDLC Consultant in Washington, DC
    Former Employee - SDLC Consultant in Washington, DC

    I worked at Freddie Mac as a contractor (more than an year)

    Pros

    Loads of opportunities if you are looking to make a difference.

    Cons

    Organization volatility has created a culture focused on political survival rather than performance.

    Advice to ManagementAdvice

    You have the talent, just listen....

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11.  

    Whatever experience

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Freddie Mac

    Pros

    Good benefits and leave provided.

    Cons

    Crappy upper management, rampant cronyism.

    Advice to ManagementAdvice

    Check out your peers at Fannie Mae.

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