PIMCO

www.pimco.com
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PIMCO Reviews

Updated March 1, 2015
Updated March 1, 2015
106 Reviews
2.5
106 Reviews
Rating Trends

Recommend to a friend
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Douglas M. Hodge
21 Ratings

Review Highlights

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 Highlights

Employee Reviews

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  1.  

    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
  2. 2 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
  3.  

    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
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  5. 7 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
  6. 4 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
  7. 3 people found this helpful  

    Disappointed with high value employees' lack knowledge of how to manage a company for anyone's benefit but their own.

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

    I worked at PIMCO full-time (more than 10 years)

    Pros

    So there's a lot of smart people. They'd better be. Takes on a more valuable sheen than it deserves when compared to the inequality of compensation. There's smart people everywhere across the firm. They used to crow that even the receptionists were top of the line. Boast much? IT folks were the best, HR people were the best, finance people were the best, graphic designers and facilities people were the best, admin support were super high-end. They WERE! But they got nothing and they were the majority of the firm around the world.

    Cons

    Surprise monetary perks thrown at staff as from medieval kings at a banquet. Everyone in the lower classes jumps to catch the loot. They won't be getting $50M bonuses, nor more than 3% merit increases yearly.

    Advice to ManagementAdvice

    Stop being so flat. Muzzy's gone. Get some layers that understand internal management and stop having to hire the most expensive people on the planet so they can "manage themselves." After all, they're individuals who have no real marching orders. It's painful.

    Doesn't Recommend
    Negative Outlook
  8. 5 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
  9.  

    very satisfied. Bright people stimulating environment

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

    I have been working at PIMCO full-time (more than 5 years)

    Pros

    very bright people, strong client focus

    Cons

    Early morning hours make it hard for some people

    Advice to ManagementAdvice

    Focus on employees as the surest way to provide great client service

    Recommends
    Positive Outlook
  10. 4 people found this helpful  

    Don't expect to get ahead, unless you are part of the "Good Ol' Boy Network"

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Business Analyst
    Former Employee - Business Analyst

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

    Pros

    Looks good on your resume

    Cons

    Oppressive working conditions; Processes are very poorly defined, with no interest in implementing improvements; Low-level personnel who have been in place for years are promoted based on longevity, not ability. There is no management training (because the company and the supervisors don't recognize lack of supervisory skills as an impediment to good operations).

    Advice to ManagementAdvice

    Time to shake things up, now that new CEO is in place. Take a hard look beneath the surface gloss, to identify & implement areas which would benefit from improvement.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11. 5 people found this helpful  

    May be Good Investment Company but very poor IT department

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

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

    Pros

    Was a Growing company with good future.
    Compensation is not great but above average.
    Good location in Newport Beach, CA.

    Cons

    The IT department doesn't run professionally. So, your growth manly depends on how you present to your superiors. As, most of the salary comes from Year End Bonus, everything depends on your image with superiors. There will be no reviews and nobody will care for peers. So, you should be prepared to handle very mediocre people rising very fast and dominating smart people.
    Those who do good work, will tend to get more work. Those will have very poor work life balance. At the same time, more that 50% people will be enjoying relaxed life like a retiree!
    Technology is not getting modernized. You will work with ancient structure of one machine, one server , one database and shell scripts.
    Evaluate after Bill Gross's unceremonious exit!

    Advice to ManagementAdvice

    Bring more professionalism than the personal cults as those run department like their fief.
    Value quality over pleasing superiors.
    Software department should be seen as asset than mere liability. Invest more in it to produce proprietor algorithms and quantitative software.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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