Primatics Financial

www.primaticsfinancial.com
There are newer employer reviews for Primatics Financial

4 people found this helpful  

Lack of Opportunities

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

I worked at Primatics Financial full-time (more than 3 years)

Pros

Depending on who you work with there may be work life balance.

Cons

The company operates in a very niche space that thrived on banks acquiring distressed assets. This worked when the economy was in downturn but they have not been able to maintain clients and get new one's as the economy improves. So there are few opportunities for learning something marketable and to enhance one's personal resume.
Whatever opportunities do exist are promptly shared, not on merit but favoritism as other reviews suggest. That also means reviews are a formality to justify ratings rather than to be used for development.

For a 200 small company it is extremely bureaucratic and senior management does not communicate properly with each other resulting in multiple meetings at low level whose sole purpose is to get everyone on the same page over and over again.

The VP of the biggest resource group believes that only top performers should be career coached. She used to famously say that in a group setting during reviews...that we should spend time coaching only the top performers who hold promise.

As the product name suggests, technology is evolving all the time and that also works as a caveat for when technology does not work.

Advice to ManagementAdvice

Your tier 2 managements do not talk with each other and are not as open as the founders were / are. Hence resources are not satisfied.

Doesn't Recommend
Negative Outlook
Disapproves of CEO

35 Other Employee Reviews for Primatics Financial (View Most Recent)

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  1. 6 people found this helpful  

    Used to be great

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

    I have been working at Primatics Financial full-time (more than 3 years)

    Pros

    First, the biggest advantage of working at Primatics is that you are working with really smart people. Everybody says that but here you are really working with people with very high IQs

    Second, the executive management is really interested in fixing problems. Most of the senior management are made up of very analytically oriented people. Once you get them to take notice of a problem, they will find a solution. You do not find "check-the-box" kind of management here. The executive managers are deeply deeply interested in solving problems and moving the company forward

    Lastly, the company combines technical expertise with business expertise. There are a lot of experts here, and you can learn a lot

    Cons

    I've been at Primatics for 4 years. Over the past 4 years the growth has exploded and Primatics was bought over by the Carlyle group. As Primatics has grown, it has gone from being more people-oriented to being more process-oriented.

    Also, unfortunately, since Carlyle bought Primatics, everything is going downhill. Yes, when they first came on board, the company line was "Carlye is not telling us how to run the company. They are just advising us", which sounded like doublespeak, and it was

    Cost cutting:- The company is focused too much on cutting costs. Cutting costs is important but it would be better done organically. The execdutive managers who used to be domain experts have become bean-counters. The way costs are being cut is not right. A lot of the responsibilities are moving offshore because offshore looks cheaper on paper. The problem is offshore is not ready. There are a lot of inefficiencies assosciated with offshore that are not readily apparent on paper. Onshore employees are being laid off, and IME, tenured mediocre employees are being kept while newly hired top performers are being laid off.

    A lot of good people are leaving. Last 3 quarter the company has consistently said there will be no layoffs, and there have been layoffs every quarter. No one trusts them now when they say "there are no layoffs". Yeah there are going to be layoffs, and it might be me next time. Time to update my resume!

    Finger pointing:- A side effect of the layoffs is that finger pointing among the middle management is on the rise. No one wants to look bad, so they point fingers at the other team. Everyone used to work together here before Carlyle

    Egos:- a side effect of having really smart people is their egos. Especially on the technical side, different people are pulling the ship in different directions. There is no captain.

    Advice to ManagementAdvice

    Stop bean-counting

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 4 people found this helpful  

    Used to be fun. Now it is not.

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

    I have been working at Primatics Financial

    Pros

    The pay is good and the raises have been good. That will probably all change now that there is a new CEO and since Carlyle acquired company.

    Cons

    Very bad work life balance. Very high turnover. Seems like someone resigns every week. There were multiple layoffs this year. People are very glad to have gotten out or are trying to get out unless you are in upper management. The company reorganizes every 2 months and there is consistently a lack of personal employee management or communication. The work is also very monotonous and dull. It's like doing your taxes every day, all day but your tax program stops working and you keep hitting the troubleshoot button but that screen won't load and it's April 15th and the government just rolled out 100 new pages of tax forms that are all out of order. So you ask your 3 friends for help and they each give you a different answer. A lot of confusion and bad management throughout company.

    Advice to ManagementAdvice

    There is 0 management of employees.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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