450 Employee Reviews (View Most Recent)

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Good place

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Senior Financial Engineer  in  Washington, DC
Current Employee - Senior Financial Engineer in Washington, DC

I have been working at Fannie Mae

Pros

Good compensation 6%matching 401k +2%vested after 2 years

Cons

Not much of career advancement very hard to promote people and talent

Recommends
No opinion of CEO

Other Reviews for Fannie Mae

  1. 5 people found this helpful  

    Wasteful spending, millions in bonuses, nothing for us

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Analyst  in  Addison, TX
    Current Employee - Analyst in Addison, TX

    I have been working at Fannie Mae

    Pros

    Vacation time is extensive, unlimited sick time, monthly time off to volunteer, terrific 401k plan, employee assisted housing funds, etc.

    Depending on what group you're in, some managers and above are a lot of fun. They recognize hard work and reward performance.

    Fannie encourages volunteerism - but the down side is they're CONSTANTLY asking for money for something they're raising funds for. WE DON'T HAVE ANY MONEY! We haven't gotten raises in two years.

    Cons

    Geez, where to start. No raises two years in a row while executives collect millions in salaries and bonuses. Horrible wasteful spending on travel and "negotiated" rates that are often much higher than every day rates.

    We get a quarterly full color magazine - probably 100 pages. I don't read it, right in the trash. This should be electronic, very costly to print.

    We also got technology mousepads. Another waste of money - how many of us didn't already have a mousepad.

    Over Christmas we got a Fannie Mae Healthy living color calendar. Mine went from the mail to the trash. More wasteful spending. Take those 3 items and give me my cost of them in the form of a pay raise!!

    Did we need poinsettias all over the offices? They just die - more wasteful spending. Yet we weren't allowed to do any company paid holiday lunches or parties. Hmmm..okay

    Almost everyone is eligible for quarterly bonuses except the admins. Why? Do they not work as hard as the rest of the employees to help attain the company goals? Talk about treating people like bottom feeders. So demoralizing.

    Good luck moving up in the company if you come in at an entry level position. Even the HR VP said it's almost impossible. There's little to no training either. Everyone's too busy with all the cuts to help you most of the time. Better be able to do it alone!

    It's really become a downer to work here but we're stuck. The economy is so bad it's hard to go elsewhere so even with no raises again, we stay. Well most of us. The CEO just quit and took his multi million dollar salary and recently announced million dollar bonus and hit the road. NICE message to send to the rest of us peons.

    A lot of VP's have left recently, I don't blame them. Now there's a moratoreum on spending - no lunches, dinners, meetings, events, etc. Just work, work, work no reward. Oh, and they raised the cost of our insurance so technically we are all working for less money than we have in 2 years. Ugh.

    Advice to ManagementAdvice

    Why?? Nobody listens. Stop the wasteful spending on the items listed above. Give back your bonuses while you starve the rest of us - single parents, struggling to make ends meet while you live high on the hog.

    We know you get graded on the percentage of employees that respond to the survey each year. Nice tactic pressuring us for weeks to respond and the day before the last day to respond, you announce no raises again. Too late for any of us to chime in. Well this year, I'm waiting til the last day to respond and awaiting the bad news first. People can't respond properly to that news.

    Give us SOMETHING. Casual dress every day. Work from home a few days a week to compensate for the cost of living (gas) to commute and make up for something! Half days Friday once a month or something. People are being worked to death with zero reward. Why do we stay?? Oh wait, crappy economy. Watch the mass exodus though as this continues.

    Raised the cost of insurance. Took away the healthy living day. No raises again. It's just become ridiculous to work here.

    Goodbye Mike Williams and your $6 million salary - you don't struggle like the rest of us do you? You have no idea what it's like to be one of us and what a horrible message you all send out with your high salaries and bonuses and wasteful spending.

    Doesn't Recommend
    Disapproves of CEO
  2. 3 people found this helpful  

    stressful not knowing the future, should at least compensate your employees to incent them to stay

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

    I have been working at Fannie Mae

    Pros

    somewhat flexible work environment, opportunities for professional advancement, immediate management is knowledgeable and caring, pay is reasonable, work load is average for the industry

    Cons

    No raise two years in a row, although management is awarded multi-million dollar bonuses. Somehow the employees are not seen by management as a justifiable expense to the Treasury, and in order to keep top talent you have to incent them to stay. If the employees are not allowed to have a raise two years in a row, at least implement some type of employee recognition program, or set up regular work from home scenarios. Something to offset the insult of not receiving a raise right before Christmas while the upper management takes home millions of dollars.

    Advice to ManagementAdvice

    Don't send out an email the week before Christmas announcing that we will not get a raise for the second year in a row, after awarding yourself millions of dollars. The announcement about not receiving a raise was also announced a week before Christmas last year. Terrible timing and makes employees feel miserable. No one will stay working at this company if there is not some type of incentive to stay--too many opportunities elsewhere with the looming question of how long Fannie Mae will exist in its current state.

    Disapproves of CEO
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