Provident Funding Reviews

Updated January 2, 2015
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2.0
25 Reviews
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Craig Pica
30 Ratings

25 Employee Reviews

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  1. 2 people found this helpful

    A stepping stone and not much more.

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

    I worked at Provident Funding

    Pros

    · Job security & salary: The company is a well-oiled machine and prides itself on neither firing nor laying off employees, regardless of performance or market conditions. Good pay for entry-level positions with generous annual raises and year-end bonuses.

    · Friendly & young colleagues: Provident hires recent college graduates for most entry-level positions.

    · Resume builder: If you go out of your way to take on extra work, you can develop a skill set that will allow you to exit Provident with favorable prospects.

    Cons

    · Poor benefits: No 401k matching, PTO accrual is slow and must be used for any type of time off (with the exception of bereavement & holidays, etc.), working on the eves of major holidays is common.

    · Inexperienced management: A lot of pointless meetings, conference calls, and silly initiatives that are never seen through to completion. Organizational decisions aren't made based on data or strategic thinking but rather because they're passed down the chain of command (i.e., a member of executive management's family). Excessive micromanaging across the board because middle managers don't have anything else to do since the markets have slowed down.

    · Culture & morale: The paychecks and job security are the two main reasons employees stay. After a year or two, most people realize that professional development simply isn't a priority at this company.

    · Mind-numbing & repetitive work: If you are the analytical type and looking for quantitative/technical work, you will be very bored.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  2. Dull, overworked

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Provident Funding

    Pros

    Pay was alright, everyone was young

    Cons

    Terrible company culture, high turnover

  3. Good for a first job out of college.

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

    I worked at Provident Funding full-time (more than a year)

    Pros

    Great starting pay and most of your co-workers are around your age if you are coming out of college.

    Cons

    - Terrible 401k plan
    - In chair by 8am or considered late
    - Follow the rules exactly, with no exceptions (ie. must listen to what's playing on radio and not own iPhone)
    - Favoritism is very evident

    Advice to ManagementAdvice

    Don't be so uptight with the rules.
    Take notice of your hard workers or they will leave and go somewhere where more appreciated.

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

    Not good for long term

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

    I worked at Provident Funding

    Pros

    - pay can be great when there were opportunities for unlimited overtime when it was busy.
    - annual raises generally higher than market rate
    - a lot of fresh college grads

    Cons

    - awkward environment, not fun, some awkward employees with no communication skills
    - people hate their job here.. you can tell
    - practically no benefits
    - incompetent managers
    - unfair practices. not transparent at all regarding any decisions made by upper management

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  6. 1 person found this helpful

    Sweatshop

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Lead in Los Angeles, CA
    Former Employee - Lead in Los Angeles, CA

    I worked at Provident Funding full-time (more than 5 years)

    Pros

    Entry level position that allows you to get into the business, training is provided for employees which are targeted to be recent college grads, company is very lean and has strong structure

    Cons

    Managers will micro manage you, there really isn't any room for advancement, middle managers lack people skills, you will be treated like a robot

    Advice to ManagementAdvice

    Ruling by fear is not a way to lead

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 1 person found this helpful

    Not worth the college degree

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

    I worked at Provident Funding full-time (more than a year)

    Pros

    Easy work - but very dissatisfying
    Young coworkers
    Nice raises

    Cons

    Low Pay
    No 401k match
    No advancement
    Little vertical potential (family)
    Upper management disconnected with employees
    Treated like students

    Advice to ManagementAdvice

    Trust your employees and trim your work force if needed. Be honest to new hires about what they will be doing.

    Negative Outlook
  8. Good to start

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

    I worked at Provident Funding

    Pros

    Good for entry level applicants, they provide training at slow pace

    Cons

    Limited upside career advancement, promotion not primarily based on performance

    Neutral Outlook
    No opinion of CEO
  9. Not too difficult to move around in the company, however managers were treated disrespectfully.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mortgage Underwriter in Pittsburgh, PA
    Former Employee - Mortgage Underwriter in Pittsburgh, PA

    I worked at Provident Funding full-time (more than a year)

    Pros

    The salary was not bad.

    Cons

    Upper management yelled at managers when standards were not met. Too much emphasis was placed on numbers and working overtime.

    Advice to ManagementAdvice

    Treat employees with respect and provide work-life balance. Provide a matching 401k.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10. Unfulfilled. Monotonous.

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

    I have been working at Provident Funding

    Pros

    If you have leverage, you can argue for a pretty decent salary and have pretty good access to the higher ups.

    Cons

    You'll be unfulfilled and won't enjoy your job. If you aren't in the inner circle, your salary will suck and you will not be happy.

    Advice to ManagementAdvice

    Don't hire if there is nothing to do. There are many intelligent people there would would like to do more, but there simply isn't enough decent work to do.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  11. So So

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Funder, Underwriter, Trainer in Bellevue, WA
    Former Employee - Funder, Underwriter, Trainer in Bellevue, WA

    I worked at Provident Funding full-time (more than 5 years)

    Pros

    -The company has a good CEO Craig and Lori Pica; they are both very understanding and is willing to listen to suggestions if they ever get to them. Majority of the time however the immediate supervisor will take credit for the work or is unwilling to pass on ideas.
    -decent training program and support for small company

    Cons

    -although the CEOs are great themselves the fact that they are a private company that can not control the simplest aspects of promoting correctly--they should be named as the first negative aspect of this company.

    -promotion is based on whether you are willing to stay over time, but management fail to check whether the overtime was warranted. Many employees do honest work and do not require overtime is punished b/c they are viewed as dedicated. Especially people who are new typically sit on their phones playing with Facebook or twitter, then spend extra time at the end of the day so they can earn overtime. Those are the people that get notice at this company bc they simply stay after.
    -lower management is often a year into the job and have no experience dealing with people. They are very power hungry, incompetent, and non-knowledgeable.
    -while I was employed here, there were two specific example that just blew my mind. Case 1: an employee was at the branch for about 1 year and he threaten to quit, the head of the department gave him a raise and promoted him to branch manager simply he does an insane amount of overtime. After about 6 months as branch manager the employee left for another company anyways. Case 2: the wholesale division manager promoted an employee who has been with the company for about 1 year over an experienced underwriter who had trained me I funding and underwriting--after a year this new branch manager was fired for incompetency. These are just two very specific case of mismanagement which causes confusion and chaos in the branch.
    -some branches have remote managers so new employees take advantage of this. They arrive late and have someone log onto the system for them so they are shown as being on time. Remote managers are too incompetent to know that they should call a branch meeting each day or once in a while to make sure everyone is on time!

    I was with provident for roughly 4.5 years. I worked as a funder for 2 years, then worked as an underwriter for 1 years then became a trainer for about a year and a half and left for PACCAR mainly bc I was sick of seeing discrimination and lack of values in promotion practices. Currently I manage roughly 6-7 folks.
    My advice for new graduates is that if you are looking for a job in this track then prepare yourself---this is not the best company to work for. Your "manager" will likely be fairly incompetent, your training will be decent, your hours will be long, and you will be frustrated.

    Advice to ManagementAdvice

    -do not promote people just because they do a lot of overtime. Check to see what they accomplished throughout the day as well. Check for accuracy and not just quantity.
    -show loyalty to those who stayed loyal with the company.
    -instead of trying to save money by promoting the younger and more inexperience people, award the people who has been there with the company and know what they are doing.
    -check up on supervisors and make sure they are competent
    -do not have remote managers. Office manager is highly recommended. The office manager should have experience, been with the company, and know what he/she is doing.
    -do not promote people to "manager" over those who has been on the job for 5,6,7 or 8 years, after 1 year on the job! This creates chaos in the branch and these new 1 year managers are the core of incompetency. It does nothing positive except save the company some money in terms of lower compensation for the new manager.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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