Freddie Mac Reviews

Pros

Very smart employees, who you can learn a lot from. Most people here have been in the industry for a long time and know what they are doing.

Cons

Zero direction. Management often confuses their best interest with ours. For example....management has spun the whole executive compensation debate into an internal agenda on defending the average employee's pay. No American cares what I make. They care what the executives make and how much their "deferred compensation" in. Oh yeah....we aren't allowed to call our bonuses, "bonuses"...they are either short term incentives, long term incentives, or some other long-winded way of saying bonus. And if you work here, don't expect to get one. At least one that's worth a darn. Ever see Christmas Vacation with Chevy Chase? I would be happy to get the "Jelly of the month club" gift certificate.
If you change jobs (internally), don't expect to get any more than a 5% increase in pay, even if that increase doesn't put you anywhere close to where Freddie's own internal pay scale says you should be. And by HR's own admission, they woul d have to pay someone what the market bears, but are "limited" in what they can pay internal transfers.

Advice to Senior Management

Stop trying to hide the elephant in the room. We all know more workforce reductions are coming. The only question is when...and we generally learn that at least a few weeks before they happen. Pay your employess...not just the executives...what they are worth. Most of us are trapped here, so at least reward us for being willing to go down with the ship. You implemented a felx work program, but you managed to screw that up too. Managers within the same division and sometimes the same group have employees who are allowed (or not) to take advantage of the program at varrying levels. Either go all in or don't. These half witted attempts to keep us here without increasing our compensation could be GREAT ideas, it's just the execution of those ideas that ticks us off.

Pros

Wonderful colleagues - smart, intuitive and very supportive

Cons

Very poor middle management - no competency

Advice to Senior Management

Need competent midde management

Pros

Good benefits, people are generally nice

Cons

Decision making is painfully slow, planning goes on for ever

Advice to Senior Management

Make it more efficient

Pros

Education allowance, Verity of tasks, flexible hours

Cons

Responsibility without authority, no appreciation of higher degree or educational upgrade

Advice to Senior Management

Cut the management layers

Pros

Freddie Mac has some great and talented individuals that work hard to get the job done even through a lot of tumultuous changing times.

Cons

The environment has become a little stressful due to many reorgs and layoffs. This causes otherwise productive employees to become distracted and fearful for their jobs.

Advice to Senior Management

The CEO has been a lifesaver for Freddie Mac, defending the company in the public and government sectors and communicating and encouraging employees. His management team would benefit by better reflecting his approach. Unfortunately Ed has decided to leave and this will drop a large wet blanket on the company. What will the remaining management staff do? A thoughtful approach should be taken into consideration carefully.

Pros

- Good culture
- Good ppl
- Stable
- Sometimes good quality work
- Good if you are in for a long haul
- Good brand to be associated with

Cons

- Legacy systems
- Old school
- Less money, fewer promotions
- Beaurocracy
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Advice to Senior Management

Top mgmt is doing good job. Ppl are working Very hard. Stable times will be back only if housing mkt recovers.

Pros

Good benefits, though tthey continue to change.

Cons

The direction of the company is currently very unclear. Constantly changing senior management brings an unsettling atmosphere to the company. Impossible to determine companies future.

Pros

- You know what you need to do day in and day out.
- Light security in a job
- Benefits are okay, but are getting worse

Cons

- Not knowing where you will be next year
- Pay is awful compared to D.C. area and 8 years experience.
- Stressful all the time
- Non-meaningful meetings all the time.
- Unrealistic productivity measures.
- Management. It's about WHO you know NOT - WHAT - you know.

Advice to Senior Management

Get in good with your manager. It's the only way to move up. BYE THE WAY THERE IS A 5% CAP IN PAY FOR MOVING FROM POSITION TO POSITION.

THAT MEANS IF YOU MOVE FROM A "REGULAR EMPLOYEE" OF $50K TO A "MANAGER" YOU CAN ONLY MOVE UP TO $52.5K!!!!

STUPID IS AS STUPID DOES SIR!!!!!

Pros

Nice Cafeteria for Vegitarians however variety needs to be added. Nice Gym though contractors can not access it. Nice open atmosphere in some places.

Cons

Management works in silos and would not look at leveraging the possibilities. Contractors have to park at some 1 mile away and treated like second class citizens worse I have ever seen.

Advice to Senior Management

Be creative and explore possibilities one can not be stuck with what they do all their life. Change is good and it is productive to make change to exploit opportunities.

Pros

Lot's of smart people and great cafeteria

Cons

Really bad when it comes to communicating with employees

Advice to Senior Management

Be honest