Countrywide Financial Reviews in Los Angeles, CA Area

Pros

They had layoffs, and then people started leaving, not wanting to wait for the axe. They then hire replacements for more then the pay of the loyal people who stayed.

Cons

Upper management could not care less about the lower tier workers. They are aloof and in a world of their own.

Advice to Senior Management

Listen to what the little guys are saying. They tried to warn you about making loans to people who could not pay for them. But no, you guys had to make as many loans as possible to make your performance look good, no matter what happen down the road.

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

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

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

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.