Sallie Mae Reviews

Pros

Smart co-workers who are dedicated even when the environment has been tough. People are very creative in problem-solving and I really enjoy my co-workers. It's actually a really nice work environment. People who work at Sallie Mae are dedicated and want to succeed. With the right direction from senior management, there is a good chance for long-term growth and stability.

Cons

Lots of cuts in the last 2 years. Budget and people have been slashed to the point where the organization is very lean. It is hard when you don't know when the next cut is coming and what it will mean.

Advice to Senior Management

The CEO is more of a visionary and has taken the company through some great and tough times. The President/COO lacks this vision and lacks leadership skills to truly run a company (rather than manage its finances). Worry that our heir-apparent to the CEO is not the right fit for the job.

Pros

Excellent place to learn and grow if you can navigate through the red tape.

Cons

Company is still going through a transition which has resulted in the loss of talent through attrition and severance. Partnership between business and IT is strained.

Pros

Back when the industry was good and we held great employees, it was an awesome place to work, but past 2-3 yrs the company has gone down hill. The company still holds some great people to work with depending on the area you land in.

Cons

Downsized considerable and rather than trying to retain valuable employees by moving them into other positions they were let go. Management is poor at communicating what is expected of their employees or where the company is headed. If you work there at the present, expect to be overworked, untrained, and stressed.

Advice to Senior Management

Communicate clearly expectations of performance to employees, communicate mission of company and projections of company to employees, and concentrate on core competencies.

Pros

I worked with a great group of people. There was no "dead weight." Everyone was smart and focused. It was a good atmosphere until layoffs started. People were focused on doing a good job overall and teamwork was the norm in my department. That said, there have been a lot of changes and most of my coworkers are no longer with company.

Cons

At the time that I left the company they were letting go of many people due to a reorganization after the federal government pulled the origination of student loans back inhouse. The communication about job status, layoffs, changes etc was terrible. It felt like even HR hadn't been briefed. Change management was really needed.

Pros

Sallie Mae really cares about employee well being. They offer good work/life balance as well as tuition reimbursement and a free onsite gym and an ala cart cafeteria.

Cons

The work at Sallie Mae, as well as other comparable companies in the lending business, tends to be boring and monotonous.

Advice to Senior Management

Sallie mae really cares about employees and their happiness, and they excel at this aspect. There is really nothing to do to make the work less monotonous.

Pros

If you are a former colleague at MBNA who got washed out, good chance of getting high paying job

Cons

Core business gutted, lack of skill to compete in new products

Advice to Senior Management

It doesn't matter, they won't listen anyway.

Pros

Medical benefits are ok, free on-site flu shot, nice cafe. Sallie Mae offers tuition reimbursement. Location is close to I-95, easy commute

Cons

Sallie Mae was a great place to work. 3 years ago top management was taken over by ex-MBNA employees. That was the beginning of the end. Sallie Mae is no longer a place that values hard working employees. Constant talk to cost cutting, but you will see cubicles installed and employees moved in, then 3 months later all the employees will be moved, a crew comes in and tears down the cubicles and installs them again in a different formation. This cycle repeats over and over again.

Pros

flexible with work schedule
good middle management

Cons

cuts to a lot of the benefits over the last five years
upper management has final say in everything and doesn't consider options from the little man.

Advice to Senior Management

ask and take suggestions from your employees

Pros

Your managers are professional but are friends. You can go to them with anything. Up level managers have floor meeting where they keep you informed of changes and new policies within the company.
The office is just like the show "Office" very fun working envornment. They don't drug test once hired unless you come to work drunk or smelling..

Cons

Pay sucks. Bonus structure is a joke. High turnover

Pros

Fair to above average pay.

New products that have been introdued into the market place have considerable upside (Smart Option Student, Credit Card and Bank products).

Stock Options for all level of employees.

Cons

SLM has been cutting expenses (people and sites) aggressively the last 3 years. While it is a necessity for the future, it makes it an uncertain place to work.

Very little Leadership and and Management Development for mid level management.

There is some favortism for ex MBNA/Bank of America Leadership that joined company 2 -3 years ago

Advice to Senior Management

Continue to be honest and try to finish the cuts so the compnay can focus on future growth.