Freddie Mac

  www.freddiemac.com
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Freddie Mac Reviews

Updated August 8, 2014
Updated August 8, 2014
346 Reviews

3.3
346 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Freddie Mac CEO Donald H. Layton
Donald H. Layton
89 Ratings

Review Highlights

Pros
  • Freddie continues to offer a favorable work/life balance environment (in 55 reviews)

  • Great benefits but work-life balance depends on the area you work in (in 30 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 22 reviews)

More Highlights

31 Employee Reviews Back to all reviews

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  1. 1 person found this helpful  

    Interview

    Current Employee - Anonymous Employee  in  McLean, VA
    Current Employee - Anonymous Employee in McLean, VA

    Pros

    Large company offers opportunities for personal growth

    Cons

    Do not inform you of Interview process. Keep you hanging. When I went for interview found interviewers unprepared with no idea what position I was interviewing for.

  2.  

    Sinking ship with no future - talented IT professionals should avoid like the plague!

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

    Pros

    38.75 hour work week
    Training and educational opportunities
    Fully-funded master's degree programs with one-year payback period
    Early releases before some holidays
    Cafeterias, fitness center, wellness center at McLean headquarters
    Early pay day if you opt for direct deposit
    Makes for a good MBA application essay
    "If you can survive here, you can survive anywhere"

    Cons

    Low pay relative to market - young IT employees who leave report 30-50% (or higher) increases elsewhere
    Wage freeze
    Northern Virginia cost of living (including taxes, tolls, housing)
    Northern Virginia traffic
    Northern Virginia politics
    Mired in excessive politics and bureaucracy, empire building and organizational silos abound
    Poorly documented, convoluted processes (technology change management) that keep changing for no good reason other than that someone has to justify his or her job - and it's always your fault!
    Low employee engagement and morale
    No direction or vision
    Very negative corporate reputation - people will attack you personally (blame you for the economic problems) when they hear who you work for
    The "enterprise" is a political piñata under attack from all sides
    Rumors of outsourcing and layoffs
    The smart, talented employees have left the building, and the ones left are looking for the exits
    Ed Haldeman is gone

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3.  

    unethical

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Analyst  in  New York, NY
    Current Employee - Financial Analyst in New York, NY

    Pros

    nice coffee room, and work station

    Cons

    Unethical work practices, too much government involvement.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
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  5. 1 person found this helpful  

    Worst experience of my career life

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

    Pros

    I cant think of any

    Cons

    Extremely political; sinking ship mentality; there is no benefits or reward for hard work....

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 2 people found this helpful  

    worst place to work ever

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Information Security Analyst  in  Reston, VA
    Former Employee - Information Security Analyst in Reston, VA

    Pros

    for a while the health care was good.

    i think they still have a pension, if you can last that long.

    Cons

    segregation of duties makes it impossible to get any real experience. silos make it impossible to work cross-organization. the org feel is just very negative. NOT a good place to work.

    Advice to ManagementAdvice

    omg. seriously, do you have to focus on spending as much of the fed's money as possible? you don't need to go spend $ridiculous amounts of taxpayer money on new desktops.

    Doesn't Recommend
    Disapproves of CEO
  7. 3 people found this helpful  

    Freddie Mac Treats Their Contingent Workers Like Gum on a Shoe

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

    Pros

    The CW pay is better than being an employee as we get no benefits.

    Cons

    Having just started a contract as a "CW", I can now agree that CW's are treated like garbage. They are talked down to, have to park a mile away, are ignored by management unless it is to ask a status of something they are working on, and are not treated equally when calling HELPME to get their computers up and running to do their job. Even if CW's cannot be treated like employees, one can at least be civil.

    Advice to ManagementAdvice

    You are not going to be around forever, stop thinking in a "Silo". This good old boys group has tried the same tired projects over and over with no success. Learn your lesson.

    Doesn't Recommend
    No opinion of CEO
  8. 6 people found this helpful  

    Similar to working in a corporation back when innovation included an electric stapler.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Director, Human Resources  in  McLean, VA
    Former Employee - Director, Human Resources in McLean, VA

    Pros

    There aren't many pros in working at FM anymore. The reputation of the company leaves a black mark on your resume. The company does its best to maintain and protect the turmoil internally but it leaks out and becomes fodder at networking events. The free garage parking is great!

    Cons

    It is full of "leadership" VP level and above, and some Directors, that are not qualified, have limited experience, and are promoted into the role without any clear vision or internal knowledge on how to run an area. They become reactive to the last comment made by their boss and are influenced by the "politics" of the organization. In turn, they lose sight of the good work that is being done by a few. This results in loss of vision, nasty working relationships and unproductive time spent.

    Advice to ManagementAdvice

    Stop bringing in your friends from the last place you were let go. Roll your sleeves up and get to know exactly what is being done before making random decisions on projects and reorganizing areas so your friends have something to do. The answers are with the people that do the work, not the ones that sit in the offices. There are way to many unqualified vice presidents who were promoted from director because there was an empty spot above them. This is old school and isn't necessary.

    Doesn't Recommend
    Disapproves of CEO
  9. 1 person found this helpful  

    terrible

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Mc Lean, VA
    Former Employee - Anonymous Employee in Mc Lean, VA

    Pros

    pay and benefits. No accountability

    Cons

    changing direction from management. No consistency

    Advice to ManagementAdvice

    close down the company. No longer necessary to have a Freddie Mac and Fannie Mae. Wall Street could do a better job.

    Doesn't Recommend
    No opinion of CEO
  10. 1 person found this helpful  

    WORST PLACE I'VE EVER WORKED AS A CONTRACTOR/CONTINGENT WORKER

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Project Manager - Contractor  in  McLean, VA
    Current Employee - Project Manager - Contractor in McLean, VA

    Pros

    Good contractor rates if you negotiate well

    Cons

    Desktop, no laptop
    Landline, no mobile phone
    Lotus Notes for email
    No wireless in buildings
    Word 2000 and Excel 2000 - in the year 2011
    Dollars are spent on people 'walking around' building to building
    Paper intense, hard copy is the norm
    No VPN for off hours work
    No on-site parking
    Clear distinction between W2 salary employees vs. contract workers (CW)
    Jurisdinctional battles among management peers in same department derails efforts
    Projects too large in scope and too aggressive in timeline to be successful
    Unproductive meetings

    Advice to ManagementAdvice

    Go work for other organizations and see how others are doing things. You are decades behind.

    Doesn't Recommend
    Disapproves of CEO
  11. 1 person found this helpful  

    No that of a good place to work in

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

    Pros

    flexible hours
    you can do lots of chatting and work less if you good in hiding

    Cons

    micro management
    leads/managers who does not know what to do
    lack of people of communication skills
    if you are a contractor then expect to be seated as a goat with 1000s other in the same small farm

    Advice to ManagementAdvice

    get rid of the people you call leads and look for real strong contractors to hire them

    Doesn't Recommend
    No opinion of CEO

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