Primatics Financial

  www.primaticsfinancial.com
  www.primaticsfinancial.com

Primatics Financial Reviews

Updated October 14, 2014
Updated October 14, 2014
33 Reviews
2.8
33 Reviews
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Primatics Financial CEO Kevin Hesselbirg
Kevin Hesselbirg
5 Ratings

Employee Reviews

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  1.  

    Great place to learn and grow

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Manager in McLean, VA
    Former Employee - Senior Manager in McLean, VA

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

    Pros

    I 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.

    Cons

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

    Advice to ManagementAdvice

    With 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.

    Recommends
    Positive Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    Primatics has its run, the party is over

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

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

    Pros

    Cash salary could be good (benefits are at industry average) in the region if one ends up there at the right time with right skills. Some people in the middle management (Manager or Director title) are good to work with - they have the right skills and attitude. Depending on type of team/function, some one at an early stage of their career can learn a lot.

    Cons

    The party is over - people at leadership positions are weak in terms of certain basic skills and talents required to be leaders. Mostly lack in collaboration, team work and mutual respect. This results into no growth opportunities, low quality products and unproductive culture. A-players in the company, who achieved success before, are mostly gone by now as they could easily find better opportunities elsewhere. Clearly not a great place for some one at mid to senior stage of their career especially looking for growth.

    Advice to ManagementAdvice

    The goal of maximizing company's value is fine but cannot be achieved without strategy or products. No harm in being respectful to people who contributed in small ways to build the company piece by piece. Apart from several other indicators, the Glassdoor reviews slid from good to terrible since 2011 reflecting that the party is probably over. So its time to "man up", accept the reality and salvage the remaining pieces.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3. 2 people found this helpful  

    Company getting worse by the day

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

    I have been working at Primatics Financial full-time (more than an year)

    Pros

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

    Cons

    The 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 ManagementAdvice

    None

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5. 3 people found this helpful  

    Lack of Opportunities

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Manager in McLean, VA
    Former Employee - Manager in McLean, VA

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

    Pros

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

    Cons

    The 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 ManagementAdvice

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 5 people found this helpful  

    Used to be great

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Manager in McLean, VA
    Current Employee - Senior Manager in McLean, VA

    I have been working at Primatics Financial full-time (more than 3 years)

    Pros

    First, 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

    Cons

    I'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 ManagementAdvice

    Stop bean-counting

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 3 people found this helpful  

    Internal politics driving client-focused folks out the door

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Manager in McLean, VA
    Current Employee - Senior Manager in McLean, VA

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

    Pros

    The 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

    Cons

    Frustrating 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 ManagementAdvice

    Listen 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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 1 person found this helpful  

    watch out!

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

    I worked at Primatics Financial

    Pros

    good salary
    opportunity to learn a lot
    some good people

    Cons

    long hours
    rough times for company

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  9.  

    A good place to work, going through a tough stretch

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

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

    Pros

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

    Cons

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

    Advice to ManagementAdvice

    Plan more for the long-term, not the short-term.

    Recommends
    Neutral Outlook
    No opinion of CEO
  10. 4 people found this helpful  

    Used to be fun. Now it is not.

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

    I have been working at Primatics Financial

    Pros

    The 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.

    Cons

    Very 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 ManagementAdvice

    There is 0 management of employees.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11. 4 people found this helpful  

    Wish things were different...

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

    I worked at Primatics Financial

    Pros

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

    Cons

    Like 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 ManagementAdvice

    There 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?

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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