Primatics Financial
3.1 of 5 32 reviews
www.primaticsfinancial.com McLean, VA 150 to 499 Employees

Primatics Financial Reviews

Updated Mar 23, 2014

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3.1 32 reviews

                             

0% Approve of the CEO

Primatics Financial CEO Kevin Hesselbirg

Kevin Hesselbirg

(4 ratings)

48% of employees recommend this company to a friend
32 Employee Reviews
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    Great place to learn and grow

    Senior Manager (Former Employee)
    McLean, VA

    ProsI have worked at Primatics for over six years, what I enjoyed most was that the people there are very smart, driven and even fun to work with. Working in technology I appreciated how they embrace innovative technology quickly. Working in an environment like that made it a great place to learn.

    ConsIt has become much more difficult to get things done quickly and efficiently as we have grown.

    Advice to Senior ManagementWith the talent level you have hired and grown I think a flatter organization maybe more beneficial and help paint a clearer vision at all levels.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Company getting worse by the day

    Anonymous Employee (Current Employee)
    McLean, VA

    ProsCompensation is good; Work/life balance is good for some; terrible for others. Colleagues are bright and hard-working.

    ConsThe company has taken a turn for the worse in 2013 and the outlook for the future is bleak at best; there have been multiple layoffs this year and there seems to be a mass exodus with multiple people leaving each week; the culture has turned toxic with everyone pointing fingers at one another and playing the blame game for why the company is not doing well. It's an awful environment to work, and I would not recommend taking a job here.

    Advice to Senior ManagementNone

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

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    3 people found this helpful  

    Lack of Opportunities

    Manager (Former Employee)
    McLean, VA

    ProsDepending on who you work with there may be work life balance.

    ConsThe company operates in a very niche space that thrived on banks acquiring distressed assets. This worked when the economy was in downturn but they have not been able to maintain clients and get new one's as the economy improves. So there are few opportunities for learning something marketable and to enhance one's personal resume.
    Whatever opportunities do exist are promptly shared, not on merit but favoritism as other reviews suggest. That also means reviews are a formality to justify ratings rather than to be used for development.

    For a 200 small company it is extremely bureaucratic and senior management does not communicate properly with each other resulting in multiple meetings at low level whose sole purpose is to get everyone on the same page over and over again.

    The VP of the biggest resource group believes that only top performers should be career coached. She used to famously say that in a group setting during reviews...that we should spend time coaching only the top performers who hold promise.

    As the product name suggests, technology is evolving all the time and that also works as a caveat for when technology does not work.

    Advice to Senior ManagementYour tier 2 managements do not talk with each other and are not as open as the founders were / are. Hence resources are not satisfied.

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

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    5 people found this helpful  

    Used to be great

    Senior Manager (Current Employee)
    McLean, VA

    ProsFirst, the biggest advantage of working at Primatics is that you are working with really smart people. Everybody says that but here you are really working with people with very high IQs

    Second, the executive management is really interested in fixing problems. Most of the senior management are made up of very analytically oriented people. Once you get them to take notice of a problem, they will find a solution. You do not find "check-the-box" kind of management here. The executive managers are deeply deeply interested in solving problems and moving the company forward

    Lastly, the company combines technical expertise with business expertise. There are a lot of experts here, and you can learn a lot

    ConsI've been at Primatics for 4 years. Over the past 4 years the growth has exploded and Primatics was bought over by the Carlyle group. As Primatics has grown, it has gone from being more people-oriented to being more process-oriented.

    Also, unfortunately, since Carlyle bought Primatics, everything is going downhill. Yes, when they first came on board, the company line was "Carlye is not telling us how to run the company. They are just advising us", which sounded like doublespeak, and it was

    Cost cutting:- The company is focused too much on cutting costs. Cutting costs is important but it would be better done organically. The execdutive managers who used to be domain experts have become bean-counters. The way costs are being cut is not right. A lot of the responsibilities are moving offshore because offshore looks cheaper on paper. The problem is offshore is not ready. There are a lot of inefficiencies assosciated with offshore that are not readily apparent on paper. Onshore employees are being laid off, and IME, tenured mediocre employees are being kept while newly hired top performers are being laid off.

    A lot of good people are leaving. Last 3 quarter the company has consistently said there will be no layoffs, and there have been layoffs every quarter. No one trusts them now when they say "there are no layoffs". Yeah there are going to be layoffs, and it might be me next time. Time to update my resume!

    Finger pointing:- A side effect of the layoffs is that finger pointing among the middle management is on the rise. No one wants to look bad, so they point fingers at the other team. Everyone used to work together here before Carlyle

    Egos:- a side effect of having really smart people is their egos. Especially on the technical side, different people are pulling the ship in different directions. There is no captain.

    Advice to Senior ManagementStop bean-counting

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

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    Internal politics driving client-focused folks out the door

    Senior Manager (Current Employee)
    McLean, VA

    ProsThe founders are brilliant, compensation is better than most firms in the area, those so inclined to serve clients have access to serve clients directly, and a handful of people who genuinely understand that client success is a required prerequisite to the success of the business

    ConsFrustrating processes, rampant intellectual arrogance, Fannie/Freddie nepotism, new CEO cleaned house from junior management down but did not deal with senior management, turf wars abound

    Advice to Senior ManagementListen more to your clients, listen more to key employees who work directly with clients, take an honest inventory of the director level and focus cuts there, stop hiring from toxic Fannie, and don't forget about client outcomes

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

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    A good place to work, going through a tough stretch

    Anonymous Employee (Former Employee)
    McLean, VA

    ProsFriendly co-workers and good location provide a good working environment. Pay and benefits were both good.

    ConsWork-life balance can be an issue at times. There is sometimes a disconnect between the different levels of management

    Advice to Senior ManagementPlan more for the long-term, not the short-term.

    Yes, I would recommend this company to a friend

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    watch out!

    Anonymous Employee (Former Employee)

    Prosgood salary
    opportunity to learn a lot
    some good people

    Conslong hours
    rough times for company

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

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    4 people found this helpful  

    Used to be fun. Now it is not.

    (Current Employee)

    ProsThe pay is good and the raises have been good. That will probably all change now that there is a new CEO and since Carlyle acquired company.

    ConsVery bad work life balance. Very high turnover. Seems like someone resigns every week. There were multiple layoffs this year. People are very glad to have gotten out or are trying to get out unless you are in upper management. The company reorganizes every 2 months and there is consistently a lack of personal employee management or communication. The work is also very monotonous and dull. It's like doing your taxes every day, all day but your tax program stops working and you keep hitting the troubleshoot button but that screen won't load and it's April 15th and the government just rolled out 100 new pages of tax forms that are all out of order. So you ask your 3 friends for help and they each give you a different answer. A lot of confusion and bad management throughout company.

    Advice to Senior ManagementThere is 0 management of employees.

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

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    Wish things were different...

    Anonymous Employee (Former Employee)

    ProsStill a handful of great people to work with, compensation is above average which is good for some and laughable for others.

    ConsLike the other real reviews say, favoritism is rampant. Lots of people still at the company where no one even knows what they do. Lack of direction reflects struggling at the top. Like another review said, too many people brought in from failed Fannie and Freddie trying to adopt their awful methodologies into a company that once had promise. Many employees have failed at the positions they were hired for and were repurposed as project managers, driving performing employees out of their minds. WAY too many project managers and "account managers" (glorified project managers). People with no business working there are battling to prove their worth. Good people just move on when that is allowed to go on and even encouraged.

    Advice to Senior ManagementThere are probably <= 5 people left that could help save the company. Find out who they are and listen to what hey have to say. Or just keep doing what you have been. That is working fine, right?

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

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    Firm is Very Political and Sr. Management is Incompetent

    Valuation Analyst (Former Employee)
    McLean, VA

    ProsGood compensation and friendly co-workers

    ConsThey just hired a new CEO and laid off about 15% of their workforce. If you went to James Madison University, there's a very good chance you did not get laid off. The company is just one big fraternity with 50% of employees completing their undergrad at James Madison and 20% of the employees alumni of the University of Maryland. The training is non-existent and managers at the firm have poor communication skills. Also, half of the day is spent in meetings which ends up being a complete waste of time. There is rampant favoritism across the firm as ass-lickers rule both in product group and services regardless of individual performance.

    Advice to Senior ManagementReorganize middle management and hold all employees accountable for any mistakes regardless of whether they went to James Madison or the University of Maryland.

    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 Primatics Financial reviews and ratings — including employee satisfaction and approval rating for Primatics Financial CEO Kevin Hesselbirg. All 32 reviews posted anonymously by Primatics Financial employees.