Provident Funding

  www.providentfunding.com
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Provident Funding Reviews

Updated Jul 17, 2014

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All Employees Current Employees Only

2.4 76 reviews

70% Approve of the CEO

(no image)

Craig Pica

(20 ratings)

25% of employees recommend this company to a friend

Review Highlights

Pros
  • Opportunity offered to recent college grads(in 9 reviews)

  • Pay is pretty good for an entry level job(in 9 reviews)


Cons
  • Extremely cheap company - No 401K match(in 12 reviews)

  • It would be nice to have a 401k match and more leniency with make up time(in 10 reviews)

76 Employee Reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Great Starter Job

    Customer Service Representative (Former Employee) Los Angeles, CA

    ProsGood Salary, Learn a ton about the industry, small company where you get to talk and meet with CEO regularly.

    Consonly lateral movement, no possibility to move up because all management is giving to the CEO's family members. Terrible benefits. Hard to get any time off approved.

    Advice to Senior ManagementCompetition is good but rewards should be greater otherwise employees burn out

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Great Opportunity if You Work Hard

    Anonymous (Current Employee)

    ProsThe company rewads hard work done well. Starting pay is well above market and if you perform well over 10% raises are common. Conversely, if you don't perform well and think you will slide, this is not the right company. I've seen them move quick to remove those employees, which I personally appreciate. Additional opportunities and responsibilities come as you demonstrate your ability. There are great coworkers who are mostly recent college grads. Our CEO talks to us to provide company strategy and market updates.

    ConsIt would be nice to have a 401k match and more leniency with make up time.

    Advice to Senior ManagementYou've built a fantastic company with a great business model. Keepic rewarding your best employees, we appreciate it!

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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    My Three Monitor Hell

    Mortgage Closer (Former Employee)

    Pros-Commiserating with other smart recent college grads stuck in the same situation you are: working for a terrible company because the economy is in bad shape and you need a source of income to pay for your student loans.

    -Developing a real sense of empathy for people who work jobs they hate to support themselves and their families

    -Gaining a nuanced understanding of Kafka by way of a tragicomedy of bureaucracy.

    ConsDepression; the inexplicable feeling of having something important and essential to your personhood forcibly removed by an uncaring, white-collar butcher of your dreams; having to explain what you do to other people; realizing that you spent four years at college and got a high GPA in a math-intensive program so that you could look at people's signatures all day and wonder whether or not a document needs to be resigned because the swoop on one cursive L is bigger on Page 2 than it is on Page 3; walking down the street and seeing people smile and having to wonder when the last time was when you were able to smile; insecure, incompetent managers who communicate solely by way of cliches and buzzwords and attempt to pit you ruthlessly against your coworkers all while preaching about the importance of teamwork; getting transferred to random departments to "help out" on projects without being notified that you will lose pay simply because of how the byzantine accounting department and computer system is configured; requesting that your pay be restored to its normal levels and being rebuffed by a spineless manager who has no interest in ever sticking up for you; being brainwashed by management into thinking that the brokers/closing agents don't do things "OUR WAY" because of their incompetence rather than because of how insane some of our requirements are; being informed by your superior that you will never receive a promotion or more responsibility, but that if you stick around long enough you will get more money; being told that you have to stop thinking about career advancement in terms of "vertical promotions" and that you should think instead about the prospects of "diagonal promotions"; rampant nepotism; becoming so allergic to the phrase "moving forward" that you have violent convulsions when you hear it; looking forlorn as you pass by children thinking about where all the time went; wondering how things got so bad that all you wanted to do was get laid off; curling into the fetal position after work and asking what on earth you did to deserve this.

    Advice to Senior ManagementShut down this company for good.

    – I'm not optimistic about the outlook for this company

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    A company too big that's too big for management's own good.

    Anonymous Employee (Former Employee)

    ProsOffice culture was generally friendly, promoting (some) growth and achievement by having open dialogue with local managers.

    ConsUsed equipment that required constant maintenance and would frequently malfunction constantly hindered our workflow. Due to this frugal mindset, benefits were equally lack luster with no matching 401k plan, training is litany of guidelines and protocols, and only 3 vacation/sick days with an allowance of earning up to 10 vacation/sick days is atrocious.

    Advice to Senior ManagementInvest in your resources, equipment and employees alike. Spending a small percentage more to have better, updated equipment along with more comprehensive benefits goes a long way. If your company doesn't look so bare bones, your employees won't feel so undervalued.

    No, I would not recommend this company to a friend

    • Culture & Values
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    • Approves of CEO

     

    Just OK

    Anonymous Employee (Current Employee)

    ProsThere are lots of opportunities for those that work hard, limit complaining, and buy into the company culture. It's a great experience as a first job out of college. You'll gain a lot of experience and, depending on the branch and department, you'll be rewarded for your success. I like working here because of my co-workers, who are all friendly and young.

    ConsUpper managers are promoted for random reasons, I still can't figure out why. Some people are managers who really shouldn't be, because they lack the people skills. Upper management is not very transparent, and we never really know what direction the company is going. PTO and benefits are at the minimum, as well as paid holidays, and there's no 401k match.

    Advice to Senior ManagementEngage more with your employees. Stop promoting incompetent people to management.

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Good for a first job out of college.

    Anonymous Employee (Former Employee) Chicago, IL

    ProsGreat starting pay and most of your co-workers are around your age if you are coming out of college.

    Cons- Terrible 401k plan
    - In chair by 8am or considered late
    - Follow the rules exactly, with no exceptions (ie. must listen to what's playing on radio and not own iPhone)
    - Favoritism is very evident

    Advice to Senior ManagementDon't be so uptight with the rules.
    Take notice of your hard workers or they will leave and go somewhere where more appreciated.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
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    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Not good for long term

    Anonymous Employee (Former Employee)

    Pros- pay can be great when there were opportunities for unlimited overtime when it was busy.
    - annual raises generally higher than market rate
    - a lot of fresh college grads

    Cons- awkward environment, not fun, some awkward employees with no communication skills
    - people hate their job here.. you can tell
    - practically no benefits
    - incompetent managers
    - unfair practices. not transparent at all regarding any decisions made by upper management

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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    Don't be fooled.

    Mortgage Underwriter (Current Employee)

    ProsEasy work and most people are friendly. Pay is OK for a degree, nothing to rave about.

    ConsDon't be fooled by the good reviews posted for this company judge for yourself. All of the negative reviews are true. Any good reviews are either posted by the owners or some managers that believe the lies or who are asked to. As a matter of fact, some managers,operation support, and senior people are constantly complaining about the policies, the way the company operates, etc. It's not true that you are rewarded for hard work and that you will succeeded in this company. This company has lost many great employees and the ones still here are because they haven't found another job. We don't even have an HR DEPARTMENT.Most managers thrive on micromanaging and pressure. When I started here I was told that this is not a career but simply a stepping stone. Company loves new college grads Because they can pay them less. If you have been a senior and great employee, for the most part don't expect to be rewarded, instead they will give you a demotion but call it a promotion, simply a way to get you out the door.Only promotions are for the company owners, relatives, or friends. Company is vindictive, I'll leave it at that.

    Advice to Senior ManagementLike they would listen.

    No, I would not recommend this company to a friend

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Sweatshop

    Lead (Former Employee) Los Angeles, CA

    ProsEntry level position that allows you to get into the business, training is provided for employees which are targeted to be recent college grads, company is very lean and has strong structure

    ConsManagers will micro manage you, there really isn't any room for advancement, middle managers lack people skills, you will be treated like a robot

    Advice to Senior ManagementRuling by fear is not a way to lead

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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    A joke of a company. Wait for another job offer

    (Current Employee)

    ProsSolid entry level pay for recent graduates.

    ConsEverything but the base pay, really. Deceptive and sub-par management (intelligence and critical thinking are detrimental to moving up to a departmental leadership role here), absolute lack of transparency in terms of decisions made at a corporate level, benefits start at a low level and remain there, and not only are lower level employees not allowed to enter into discussions about their future movement within the company, but they also are disparaged for trying to contribute meaningfully to the company's operations and told instead to get back to mindless production work.

    The same manager who offered you a 'promotion' from one role to another will, with a straight face, ask you to view a move back to the first position as something other than a demotion, despite it also reducing your salary. The only chance of making substantial upward movement within the company is to be located in one of the large hubs (San Bruno, Santa Rosa, and Pittsburgh) and gain the favor of one of the departmental managers - bonus points if they are a Pica, are related to a Pica, or are trying to become related to a Pica, which they usually are.

    On top of all of this, the mortgage industry is in a severe decline that is erasing the few decent opportunities that remain. The only positions available at this company are for the 'Servicing Analyst' role, which is actually a glorified collections position that does not require analysis skills, just regurgitating company policies to angry borrowers. Any and all positive reviews for Provident that appear on this site are written by the Picas and the company's spineless middle managers.

    Advice to Senior ManagementBe less incompetent and/or condescending. Try occasionally having a straight forward conversation with your employees. People understand the mortgage industry is in decline but when you are dealing with employees who have spent four years and loads of money on college and you try to present a move to a servicing job better suited for someone with just a GED as an improvement, it destroys your credibility.

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

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