349 Employee Reviews (View Most Recent)

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Sinking ship with no future - talented IT professionals should avoid like the plague!

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

I have been working at Freddie Mac full-time for more than 3 years

Pros

38.75 hour work week
Training and educational opportunities
Fully-funded master's degree programs with one-year payback period
Early releases before some holidays
Cafeterias, fitness center, wellness center at McLean headquarters
Early pay day if you opt for direct deposit
Makes for a good MBA application essay
"If you can survive here, you can survive anywhere"

Cons

Low pay relative to market - young IT employees who leave report 30-50% (or higher) increases elsewhere
Wage freeze
Northern Virginia cost of living (including taxes, tolls, housing)
Northern Virginia traffic
Northern Virginia politics
Mired in excessive politics and bureaucracy, empire building and organizational silos abound
Poorly documented, convoluted processes (technology change management) that keep changing for no good reason other than that someone has to justify his or her job - and it's always your fault!
Low employee engagement and morale
No direction or vision
Very negative corporate reputation - people will attack you personally (blame you for the economic problems) when they hear who you work for
The "enterprise" is a political piñata under attack from all sides
Rumors of outsourcing and layoffs
The smart, talented employees have left the building, and the ones left are looking for the exits
Ed Haldeman is gone

Doesn't Recommend
Negative Outlook
Disapproves of CEO

Other Reviews for Freddie Mac

  1.  

    Fun during a tumultuous time

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Investment Associate  in  McLean, VA
    Current Employee - Investment Associate in McLean, VA

    I have been working at Freddie Mac full-time for more than 3 years

    Pros

    The people at Freddie Mac were definitely good people to work with. Most people were nice and warm. Most senior people were also very accessible. The cafeteria also had excellent food. I felt a sense of community there with the active employee networks.

    Cons

    Given the time I was there, I didn't see a future with the company. There wasn't much room for growth. Also not much salary growth.

    Recommends
    Positive Outlook
    No opinion of CEO
  2.  

    Financial Controller Sr

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

    I have been working at Freddie Mac full-time for more than 8 years

    Pros

    - Good Work life Balance
    - Challanging work
    - Important Mission

    Cons

    - A lot of uncertainty
    - High Turnover

    Advice to ManagementAdvice

    Focus on retaining the right employees, not all turnover is good turnover

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
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