Pimco
2.3 of 5 82 reviews
www.pimco.com Newport Beach, CA 150 to 499 Employees

Pimco Reviews

Updated Jul 9, 2014

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2.3 82 reviews

                             

40% Approve of the CEO

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Douglas M. Hodge

(5 ratings)

33% of employees recommend this company to a friend
82 Employee Reviews
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Review Highlights

Pros:
  • "Surrounded by smart people who are driven"
    in 10 reviews
  • "Good benefits, lots of travel, populated by smart people"
    in 6 reviews
Cons:
  • "Work expectations are high-- PIMCO expects excellence which can affect your work-life balance"
    in 17 reviews
  • "There is no work life balance at all"
    in 8 reviews
  • Show more review highlights

Reviews

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    • Disapproves of CEO

     

    A good place to learn the fundamentals, but skill set can be very PIMCO specific.

    Asset Information Business Analyst (Current Employee)
    Newport Beach, CA

    ProsYou can learn from very talented hard working professionals. Management is very understanding and kind. Work can be dynamic at times. Support for CFA programs ... although most CFA content does not help move you forward within the firm.

    ConsEarly and long hours. Usually work through lunch. Always very busy and not much time to delve deep into projects. You might feel frustrated after working at the firm for 3-5 years with lateral growth rather than internal promotions. PIMCO prefers hiring in leaders not growing them internally.

    Advice to Senior ManagementEmployees should feel more involved and engaged. Many of the processes should be improved or automated.

    Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

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    1 person found this helpful  

    Culture is unfriendly

    Compliance Analyst (Former Employee)
    Newport Beach, CA

    ProsThe on boarding process was great. The new building and workplace supersedes any place I've ever worked at. Everything is brand new and top notch. The benefits are decent.

    ConsThere is too much office politics and management does not listen to employee concerns. They are lacking in leadership skills across the board. The only feedback you will receive is negative or none at all. Seems they are only concerned about making themselves look good and playing favorites. There's no career development to speak of and it's difficult to move up in the firm. They may promote you to senior status but that comes with no additional responsibility or pay. The culture lacks diversity.

    Advice to Senior ManagementPlease develop your managers and make sure they have the skills necessary to lead employees rather than just job knowledge. Create opportunities to grow and develop within the firm to minimize loss of great talent. Treat your employees like they matter instead of like cogs in a wheel.

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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    1 person found this helpful  

    Great experience, but things have changed

    Anonymous Employee (Former Employee)
    Newport Beach, CA

    ProsWorld-class firm, smart colleagues, good pay.

    ConsHas apparently become very political with emphasis on face time
    Poor work/life balance.
    They're going through tough times and may have peaked out.

    Advice to Senior ManagementFind another Bill Thompson for CEO!

    Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

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    1 person found this helpful  

    Learned a lot, very political

    PM Group (Former Employee)
    Newport Beach, CA

    ProsFairly stable environment in which to learn the investment business; talented employees; location/quality of life

    ConsVery political; compensation low compared to sell-side unless you make MD, at which point pay becomes much better than sell-side

    Advice to Senior Managementnarrow the gap in pay between the rank and file and the MDs; improve tuition reimbursement program

    No, I would not recommend this company to a friend

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    1 person found this helpful  

    A good starting point

    Anonymous Employee (Current Employee)

    ProsSurrounded by smart people who are driven.

    ConsLong hours and face time expectation.

    Advice to Senior ManagementAllow flexible hours, especially for female employee with kids.

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    1 person found this helpful  

    All at everyones expense.

    Anonymous Employee (Current Employee)
    New York, NY

    ProsSmart people who are generally approachable and will share knowledge

    ConsThis place will suck the life out of you, turn your hair gray and give you bags under your eyes

    Advice to Senior ManagementTreat people like people, we arent just robots that dont burnout.

    No, I would not recommend this company to a friend

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    1 person found this helpful  

    A place to earn experience and move on after year 2.

    Associate (Former Employee)
    Newport Beach, CA

    ProsIf you make MD or SVP on the trade floor you will get paid way more than the sell-side (otherwise you get paid less).
    The name, it goes a very very long way, believe it.

    ConsVery dysfunctional culture and senior management. Very few opportunities for growth. None of the typical grooming for the future culture you see at other Wall St firms. They will hire talent from outside at all costs rather than promote from within. Will work you to the bone. High pressure environment with really little reward. Lots of politics, more politics than a cut throat law firm. Everyone is out for themselves. Very high turnover. Ridiculous focus on facetime. Employees are openly chastised and lashed out against. You will not find a single happy person, I have never met a single person who was happy at Pimco. People in the know in the industry know this is a miserable place to work, do not waste your time here, it is not worth it.

    Advice to Senior ManagementSeriously need to provide better opportunities for growth to your best talent

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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    3 people found this helpful  

    Not the same anymore...

    Communications Associate (Current Employee)
    Newport Beach, CA

    ProsThe employees are what makes this company great and the best thing about working for PIMCO. 90% of the employees are ambitious, educated, and driven to do the best that they can. Sometimes the mantra "healthy paranoia" can create competition among each other, but for the most part everyone is collegial.

    ConsThe compensation is very skewed. Support staff are poorly paid and constantly overworked. The company developed a ranking system as a way to continually grow and develop a team, but at PIMCO where everyone is driven, finding a below average performer on a small team is near impossible and delivering poor compensation at year end to someone that has worked extremely hard and delivered results destroys morale for everyone. If you ask HR who they have to recruit for most often, they will say associates and analysts because the turnover is high. The company used to be run really well and the environment was fantastic, but it's not the same anymore....

    Advice to Senior ManagementWork on fixing the review system at year end. Managers should be held to 360 degree feedback, and one of their core measurable should be based on their teams score.

    Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

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    7 people found this helpful  

    Once you leave, you see how amazing life can be....

    Trade Support (Former Employee)
    Newport Beach, CA

    ProsMohammed- except he left
    Being across the street from Bloomingdales

    ConsPay is considerably lower than any other asset management firms (20-30% lower)
    Bonus is very low for the amount of work you do
    Upper management does not take the time to develop employees
    Lack of personality and anyone with hobbies - it was looked down upon to get married, have kids, watch sports or do anything outside of the World of PIMCO
    Terrible treatment of women especially on the Trade Floor and in support of the PMs

    I have worked at two other asset management firms and working at PIMCO were the darkest days of my life. The pressure cooker environment is worse than described in the news. Managers will scream at you in front of your colleagues and make you feel like a fool for any mistake or question you have.

    Furthermore there is no opportunity for growth. The only way you can move up is to get out of there. I was just hired at a large Fixed Income firm and they had no problem paying me more than 30% higher BASE salary than at PIMCO. I also get more days off and work less hours. My life is truly what I have always known it could be. I feel very lucky to have gotten out of there.

    Advice to Senior ManagementHire and train more People oriented Managers
    Pay higher salaries
    Listen to the complaints of employees that keep leaving

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    2 people found this helpful  

    A very mixed bag and one that is on the way down.

    Product Manager (Former Employee)
    Newport Beach, CA

    ProsVery smart people. Having PIMCO on your resume goes a long way. Newport Beach area is a great to live. Training is great as is emphasis on learning.

    ConsA ridiculous, counterproductive focus on face time. There is no work life balance at all. Promotions are the only real key to getting paid more so there is too much politicking relative to other places where your P&L contribution is more important than your title. Pay is better than a number of competitors but comes at the cost of a poor work life.

    Advice to Senior ManagementInstitute a "No jerks" policy. Far to many of these at the firm. Just because the person has good technical skills does not mean you can overlook issues of personal integrity and a lack of basic social skills. Don't just talk about not endorsing face time; force the issue by setting a good example.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Glassdoor is your free inside look at Pimco reviews and ratings — including employee satisfaction and approval rating for Pimco CEO Douglas M. Hodge. All 82 reviews posted anonymously by Pimco employees.