PIMCO Reviews

Updated March 27, 2015
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2.7
110 Reviews
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Recommend to a friend
Approve of CEO
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Douglas M. Hodge
23 Ratings

Pros
  • Smart people who are generally approachable and will share knowledge (in 12 reviews)

  • that's about all that's good and o yea some good benefits (in 7 reviews)

Cons
  • Work expectations are high-- PIMCO expects excellence which can affect your work-life balance (in 18 reviews)

  • Long hours and lots of stress, not sure if Newport Beach is worth it (in 9 reviews)

More Pros and Cons

Employee Reviews

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  1. 1 person found this helpful

    This is a place where you are expected to work a lot and you will, most of the assistants work no more than 3 years.

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

    I have been working at PIMCO

    Pros

    You work with smart people and you have great benefits, 15 vacation days per day and a lot of flexibility.

    Cons

    There is no life - work balance at all, you will be exhausted and sometimes their policies are overwhelming.

    Recommends
    Positive Outlook
    Approves of CEO
  2. Overall a good place to work.

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at PIMCO full-time

    Pros

    An overall great company. It's a behemoth of a firm in terms of its weight in the investment management industry. Offers some of the best benefits anywhere: 4 weeks vacation, inexpensive hmo or affordable and the best ppo health insurance, super cheap dental and vision, free on-site gym, 5% full 401k match, 5.4% retirement contribution, and stunning views of the Pacific Ocean.

    As everyone says, most of the people here are smart and accomplished. Keyword is "most." You can learn a ton here about fixed income. They also pay you very well and includes an annual bonus and potential retention or special bonuses. The total compensation package, therefore, is simply hard to beat.

    Opportunities for advancement and moving around within the company are available although politics and other factors may mean that it could take some time before they present themselves.

    Cons

    Remember the key word above? Different departments, certain departments, are not consistent with the rigorous hiring standards that PIMCO tends to employ. You end up with people rising the ranks with insufficient education and experience because of nepotism and favoritism; it's rather blatant, painfully obvious, and in your face, yet the perpetrators, beneficiaries, and benefactors are completely oblivious. Some constantly pat themselves on their backs for achieving such accomplished milestones when, in reality, they are merely the recipients of the fruits of their years of butt kissing and quiet, obedient subordination. Then the cycle continues, and they bring their chosen favorites onboard. This creates a culture in some departments that lacks diversity, intellect, and opportunities.

    Also, in some departments, the substantive work is bestowed only onto those with certain titles. Meanwhile, you have overpaid and, essentially, glorified admin assistants who do no real, intellectually demanding work. They entice you with bonuses, but, meanwhile, you are learning nothing, making no progress in your career, and they use this to their advantage because they know they have trapped you. It's just bad business and poor management to not utilize the full potential of your employees.

    Advice to ManagementAdvice

    Start managing your managers. Understand the level and degree of nepotism and favoritism that is occurring under your nose. It's not conducive to effective management nor does it lead to retaining your best employees.

  3. Great place to work and amenities are off the charts

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

    I have been working at PIMCO

    Pros

    Everyone is smart and has a great training program

    Cons

    Stressful environment and hard work culture

    Recommends
    Neutral Outlook
    Approves of CEO
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  5. Hit or Miss, Depending on Where You Land

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Project Manager in New York, NY
    Current Employee - Project Manager in New York, NY

    I have been working at PIMCO full-time (more than 8 years)

    Pros

    Very smart co-workers
    Work can be challenging in a good way
    Good benefits
    Some teams have good culture (Some do not)

    Cons

    Team goals are overly ambitious and unrealistic.
    Callous, interested management. Bill Gross set the tone and it reverberated through the organization.
    Many managers's main priority appears to be advancing their own careers and care little for those they manage. Negatively impacts team culture.
    Seemingly everyone is overworked and yet nearly every team is chronically under-resourced.

    Advice to ManagementAdvice

    Train your managers to be managers of people, not just projects.
    Make career development for all employees a priority; set clear benchmarks for achievement
    Put an end to the combative behavior that PIMCO is infamous for.
    Firm culture is not strong, uniform, or compelling. Perhaps a result of rapid growth in recent years, but it should be addressed.

    Doesn't Recommend
    Negative Outlook
  6. Great company to work for!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Administrative Assistant in Newport Beach, CA
    Current Employee - Administrative Assistant in Newport Beach, CA

    I have been working at PIMCO

    Pros

    PIMCO (Pacific Investment Management Company) is a great company with some of the best benefits around. The senior officers of the expect a lot but if you have a position working for them you must really be good at what you do.

    Cons

    Nothing I can think of..

    Advice to ManagementAdvice

    None

    Recommends
    Positive Outlook
    Approves of CEO
  7. 3 people found this helpful

    Very hierarchical work environment.

    Former Employee - Analyst
    Former Employee - Analyst

    I worked at PIMCO full-time (more than a year)

    Pros

    Great work experience that allowed me to excel into my next job. Also taught me how not to lead a team.

    Cons

    The management team is very hierarchical with what the managing directors word is the final one.

    Advice to ManagementAdvice

    Please get a good CIO.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 13 people found this helpful

    Anything but meritocracy

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Newport Beach, CA
    Former Employee - Anonymous Employee in Newport Beach, CA

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

    Pros

    • Excellent location
    • Generally intelligent people
    • Great brand for your resume (although not as much after the Gross departure)
    • Compensation

    PIMCO is a place where you are continuously challenged and driven to do better. The people you work with are hard working and intelligent. Compensation is generous for the area, especially at the VP and above level. The brand still carries a fair amount of weight despite the Gross departure, and you will learn a tremendous if you wish during your tenure.

    Cons

    • Nepotism
    • Hostile work environment
    • Tremendous political undertone

    The firm is wrought with cronyism that starts in the three big departments (Portfolio management, Product Management, and Account Management). If you are not part of those departments, you are a peasant. The arrogance exudes even from those in the elevators. Appearance is everything as is your school brand. If you are brought in on the correct nepotistic path (generally MBA from top 5), you will have guaranteed promotions to VP and SVP on a certain time frame regardless of your overall contributions or often times lack thereof real investment experience.

    For those departments outside of the trinity (PM, PdM, and AM), you have a series of middle to senior managers that are holding on to the cash cow while trying to hold back younger employees who are looking to advance. Managers in non-anointed departments have been there for 10+ years and desire to only keep the relatively high paying checks rolling in. This means anyone that threatens the system by improving it or trying to advance (changing departments or getting promoted) is discarded or cast aside. Managers use fear tactics to keep you in line via mind games and the collective attitude that you "owe" them for allowing you to work there.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9. Great experience and growth opportunities

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President in Newport Beach, CA
    Former Employee - Vice President in Newport Beach, CA

    I worked at PIMCO

    Pros

    Very smart and talented people. The firm is very good at bringing things to market and being very efficient in getting things done (no nonsense).

    Cons

    Can be a difficult place to work

    Recommends
    Neutral Outlook
    Approves of CEO
  10. 7 people found this helpful

    Buyer Beware! If you had 20/20 hindsight, here it is...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Associate in New York, NY
    Former Employee - Associate in New York, NY

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

    Pros

    -VP and up - compensation starts to get exponentially better
    -An opportunity to learn in depth all things Fixed Income
    -Improving technology which allows you to dissect your portfolio in several ways and see risk and exposure

    Cons

    -AUM on the decline / thought leaders leaving/left

    -Not a meritocracy / Idea generation only allowed to flow from the top downwards -> no new, young, fresh ideas on how to deal with what will soon be a rising interest rate environment (hub-and-spoke model (PIMCO) vs. a point to point model)

    -No loyalty -- Example 1.When Gross left, employees internally found out from external news sources..maybe naive of me to think that you'd give a heads up to your own people first..right?
    Example 2.It doesn't matter if you graduated from the top undergraduate program, came from a respected firm, have given several great trades ideas that the Portfolio Managers/traders have executed, PIMCO will almost never promote you as an Associate (even if you bust your butt to get the CFA while working or if you finish your part time MBA/Masters) -> Associates are looked down upon in this firm for some weird reason..

    -Culture -- At some point you will have to question your integrity and how/whether you chose to survive or leave the PIMCO environment in order to preserve who you are -Affinity for difficult people - never have I had the misfortune of working at a firm where the % of difficult people of the overall employee population has been so high...these people have engendered a throw people under the bus / take other peoples' ideas without giving credit culture..a culture in which people ignore eye contact with you as you pass them by depending your title or role..

    -Lack of mobility (Aversion towards progress): Essentially no mobility at any level except for MBA hires at first (rotation program) or if you are a shrewd political player
    1.Human Resources has been known to reject mobility( moving to another role) if it means you getting a much higher compensation than they deem appropriate even if you've interviewed and earned the new position
    2.High achievers (at all levels including the most senior) continue to quit and join top firms when they refuse to play the political game in order to advance (your work-ethic and your good ideas alone are not sufficient - someone powerful and political needs to like you)..

    -Dearth of diversity (in terms of gender, race, and orientation) on the Trading floor - Don't let the poster children fool you; they are not representative of the firm as a whole and especially on trading/portfolio mgmt. side...How is PIMCO supposed to represent their diverse set of Clients when PIMCO itself does not know what diversity is? Caveat (Client facing teams are more diverse that the trading/port mgt side of the firm)

    Advice to ManagementAdvice

    Treat people better and listen to well thought out/researched ideas from all levels (performance could actually improve if you do this)-- With Gross gone, you have an opportunity to revamp the firm into one that champions meritocracy at all levels ( create a real 360 review and implement changes by hinging such changes to compensation = You have some really bad portfolio managers resting on the laurels of others and pushing real Talent to quit). Improve the fit part of the interview to stem the tide of bad to the core (pretend to be a good person) personalities the firm keeps attracting...By treating your employees better, it will be one step towards rebuilding your street cred..

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11. 6 people found this helpful

    A once positive work culture has strayed from its founding principals and is in desperate need for the right guidance.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Associate in Newport Beach, CA
    Former Employee - Associate in Newport Beach, CA

    I worked at PIMCO full-time (more than 5 years)

    Pros

    very smart people continue to be drawn to this company
    great place to learn a multitude of product types and trading strategies (if you can find someone willing to divulge extra information and time)
    benefits
    time off and holidays

    Cons

    groups are run too lean and resource allocation in critical areas are not well managed
    you must be willing to participate in the political popularity contest in order to get ahead
    very little work life balance (they will work the life right out of you)
    recognition for the people who are actually doing the work is poor at best, management takes a lot of credit

    Advice to ManagementAdvice

    do a better job recognizing and compensating those that actually do the work and keep the company functioning
    implement some type of mentorship and career path platform with identifiable and attainable goals

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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