Countrywide Financial Reviews

Pros

Countrywide has very smart people and a lot can be learned from them. The numerous locations make driving to work fairly short. The monetary compensation is pretty good. There is some flexibility for standard working hours.

Cons

Sr. Management doesn't really know how to commnicate; however, there are a few exeptions. Telecomuting is frowned upon in spite of the cost of gas these days. Most promotions are performed via nepotism (the Dilbert Priciple) and not earned through capability. The decision making process is very slow and bureaucratic and often relies on time to make the decision. The company is extremely siloed by lines of business.

Advice to Senior Management

Try honest communication and less CYA.

Pros

In certain divisions, there used to be a lot of growth and promotion opportunity. Compensation was very uneven, but some people were paid extremely well, especially relative to their skillset and contribution.

Cons

Too many to enumerate. Across the board, the physical and social environment is very uncomfortable. Social conversation is discouraged, and there is extremely little privacy, so it is difficult to form strong working relationships. There is a serious lack of ability and failure to manage people.

Advice to Senior Management

Put people first. Take a semester-long ethics class. Get rid of the 3 foot tall cubicles.

Pros

benefits if you can stand to stay long enough to qualify for them.

Cons

micromanagement and lack of respect for employees - no one in my department smiles or seems happy to be doing their jobs. we are supposed to be in the business of helping people and no one cares because they are so miserably controlled by management and the Aspect time management system nightmare. even long term employees are unhappy with this department and most are unhappy with the departments they came from. not a good recommendation.

Advice to Senior Management

1. get people off of the Aspect time micromanagement system. you are turning everyone into clock watchers who are afraid of non-compliance for missing their pathetic 10 minute scheduled break. it interferes with a normal natural work flow.
2. give us casual fridays. what is the big deal? we don't have face to face interaction with our customers.
3. don't make employees, especially new employees you recruited because you disparately need them, feel like you don't trust them at all.

Pros

The fact that you get paid regardles of whether you do a good job.

Cons

This is one of the most nepotistic companies I've seen. People advance here by sleeping with people in power. There is no reward for going above and beyond. Instead, the firm prefers to institute a culture of fear and scare people into performing their jobs for low cost. The corporate bureaucracy wastes money and ties the hands of line managers. Many senior managers throughout the organization only care about their own pocketbooks and are therefore disingenuous with their communications. It could be due to incompetence, but that's equally pathetic.

Advice to Senior Management

Stop chasing money and pay attention to the bloated infrastructure you've allowed to develop.

Pros

the one only reason to work for Countrywide is the feeling of accomplishment when you've truly helped someone refinance or purchase a home.

Cons

there are two many downsides to list.

Advice to Senior Management

All Management personnell should be required to take management training courses regularly and updated courses every year.

Pros

None that I can think of.

Cons

Everything! Management thinks of themselves. Promise you the moon to get the job done, then the promises are quickly forgotten. Worked 60 hours a week to get the new computer system up, and got a candy bar as a "thank you", only to give us "pink slips", and send the payroll department to Fort Worth, TX from Pasadena, CA. Just to save 8K per employee per year. Mozilo spends that in one day.

Advice to Senior Management

Take some classes on Management Skills. Even the H/R Vice President would not even say "hello" to you...

Pros

Perhaps in the past there were, none now. Will bofa want you? There might not be any reason to work for such a miserly company. They suck you dry on vacations, benifits and all they are concerned is that you should be there, 8-5. Perhaps in the past there were, none now. Will bofa want you? There might not be any reason to work for such a miserly company. They suck you dry on vacations, benifits and all they are concerned is that you should be there, 8-5. Perhaps in the past there were, none now. Will bofa want you? There might not be any reason to work for such a miserly company. They suck you dry on vacations, benifits and all they are concerned is that you should be there, 8-5.

Cons

Very poor management. Most are working there to save their jobs. Perhaps in the past there were, none now. Will bofa want you? There might not be any reason to work for such a miserly company. They suck you dry on vacations, benifits and all they are concerned is that you should be there, 8-5. Perhaps in the past there were, none now. Will bofa want you? There might not be any reason to work for such a miserly company. They suck you dry on vacations, benifits and all they are concerned is that you should be there, 8-5. ok.

Advice to Senior Management

Dont waste your time covering your a55.

Pros

If you are looking to purchase or refinance a home, there are modest employee discounts on fees and closing costs.
If you participate in the 401K plan the company matches 50% of your contribution up to a maximum of 3%
If you are a "superstar" level employee you will have planty of opportunities to shine, to be the hero, to be the one that "gets things done".

Cons

First and foremost is the compensation. It is low to begin with and this year the increases didnt even match half of the inflation rate. There really are no opportunites to receive bonuses (unless you are management) or profit sharing.
Promotions are few and far between and typically go to those who are better talkers, rather than better do-ers, so real recognition for great work really isnt there.

Advice to Senior Management

Stop treating the employess as cattle. Remember that we are the ones who actually DO the work that makes you the money. Try sharing the wealth a little. Tough economic times is really no excuse not to provide the employees with a minimum cost of living adjustment that keeps up with inflation. Raises should be based on inflation rate base PLUS the performance margin.