Freddie Mac Senior Business Applications Analyst Jobs & Careers in Washington, DC

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9 days ago

Enterprise Data Strategy & Governance Senior Analyst - Data Governance

Freddie Mac McLean, VA

include: •Support the documentation of the SF business and governance charter for the SF Data Governance forum. Support the monthly execution of the…

30+ days ago

Business Rules Governance Senior

Freddie Mac McLean, VA

Include. •Create strategies around business rules governance, creation & implementation of a future state vision, and information sharing across the…

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Freddie Mac CEO Donald H. Layton
Donald H. Layton
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  1. 6 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 for more than 10 years


    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.


    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.

    Neutral Outlook
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