PIMCO

www.pimco.com
Employer Engaged

PIMCO Reviews

Updated February 25, 2015
Updated February 25, 2015
105 Reviews
2.4
105 Reviews
Rating Trends

Recommend to a friend
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Douglas M. Hodge
20 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. 1 person 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. 2 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
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  5. 6 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.  

    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
  7. 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
  8. 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
  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  

    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
  11. 8 people found this helpful  

    Consider only if you are ready to sell your soul

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

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

    Pros

    Salary
    Annual Bonuses
    Annual Raises
    Beautiful Building and Amenities
    With these items they tempt you in and make you think no other company will provide you with the same.

    Cons

    Elitist work environment. You are only as good as your title and get reminded of it every day.
    Client only comes first if they have the most invested with the company.
    There is no hope for any form of advancement unless you leave the company first to show your worth elsewhere.
    Management has ZERO backbone so there is no real structure
    I can go on for days, but why waste your time?

    Advice to ManagementAdvice

    Not worth wasting my time here. Management would rather step all over you than help you improve as a person and an employee.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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