Freddie Mac Reviews | Glassdoor

Freddie Mac Reviews

Updated May 12, 2017
109 reviews

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2.0
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Freddie Mac CEO Donald H. Layton
Donald H. Layton
22 Ratings

109 Employee Reviews

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Pros
Cons
  • Too much micro-managing and senior management keeps changing every 3 to 6 months (in 29 reviews)

  • Work/life balance can be compromised at times (in 11 reviews)

More Pros and Cons

  1. Helpful (6)

    "Great place to END your career"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Project Manager in McLean, VA
    Current Employee - IT Project Manager in McLean, VA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Freddie Mac (More than a year)

    Pros

    Consistent Schedules
    No surprises as far as work load
    Plentiful on-site breakfast/lunch options
    On-site fitness facility
    On-Site health clinic
    On-site shipping office

    Cons

    Limited vacation(2 weeks) and very expensive to purchase vacation days($300/day)
    Limited career growth opportunities and education.
    Limited to no growth in technological methods. Never anything cloud based/on-demand etc. Very limited Agile methodology.
    Communication between management and subordinates is often delayed or non-existent.
    Promotions rare!
    Possesses a culture that makes it VERY difficult to work remotely.
    Parking is always an issue after 9am.
    Always significant traffic getting into and out of the facility.
    Paternity/Maternity Leave LIMITED.
    Management restructures every 3 years.
    MANY layers of approvals to get anything done.
    Breeds a culture that makes it ok to not answer emails/phone calls.
    Many forced to work side by side on long desks, not even cubicles.


  2. "Underwriting Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Underwriting Analyst in Arlington, VA
    Current Employee - Underwriting Analyst in Arlington, VA
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Freddie Mac (Less than a year)

    Pros

    Welcoming Culture and Training Opportunities

    Cons

    Limited Benefits, Pay at Lower End of Spectrum for Job Title, Limited Career Development, Poor Management

    Advice to Management

    Career Development


  3. Helpful (3)

    "Development, Snr"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Lead/Senior Developer in Mc Lean, VA
    Current Employee - Lead/Senior Developer in Mc Lean, VA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Freddie Mac (More than a year)

    Pros

    Flexible Work Arrangement and relax environment.

    Cons

    Technically weak leads, politics, no technology advancement.


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  5. Helpful (2)

    "Conservatorship blues"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Finance Analyst in McLean, VA
    Current Employee - Finance Analyst in McLean, VA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Freddie Mac full-time (More than a year)

    Pros

    On site cafeterias.
    Free parking.
    Gym.

    Cons

    Sliding downhill since conservatorship, trying to redefine itself. Change is coming at a glacial pace. Employees get tired of doing the same tasks over and over and leave, or hope to stretch to retirement. Work centers on compliance and process, not innovation. Hard to move to other teams. Uneven - some managers are hard-working and knowledgeable, others are archaic and show poor people skills. Unless you want to specialize in the mortgage sector, it will most likely not meet your needs for professional development.

    Advice to Management

    Competition from the private sector will come. Drive the culture change needed; invest in your employees and make management responsive and accountable.


  6. "Contractors beware"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    Current Contractor - Development, Senior in McLean, VA
    Current Contractor - Development, Senior in McLean, VA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Freddie Mac as a contractor (Less than a year)

    Pros

    The office is a fairly good place.
    Every worker gets their laptop and the IT requests are all doing quick. The on boarding process was quickest I have seen for contractors.
    They have an induction class on the first day where you get your badge, parking pass,laptops etc. No delays at all.
    The cafeteria is great.

    Cons

    I joined as a contractor (a CW- contingent worker in freddie ). The first thing that kind of baffled me was the huge difference in the way CWs are treated vs FTEs.

    The "seat" given to me was a 20 inch space. It is a row, with monitors placed like a computer lab. If I so much as move my hand, I could hit the next person.
    The second and most frustrating aspect is the parking. CWs are not.allowed to park in the main buildings. Instead I was alloted a place in a building three blocks away. There is a shuttle every 15 minutes, but I you have to wait in open air for this shuttle and during winter it is horrible to walk to and from the parking.

    Work wise, CWs are not invited to any decisions level meetings in my team. I was asked to come to office on Friday after thanksgiving even when all FTEs in my team were allowed to work from home.

    It's not my first time as a contractor in a firm, but it's the first time that I have felt humiliated for being one.

    Plus, if you are looking for Long term careers, as a contractor, you cannot work more than 2 years and they are strict about it.

    Advice to Management

    None.i am out here :-(


  7. "Director"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Director in McLean, VA
    Current Employee - Director in McLean, VA
    Positive Outlook
    No opinion of CEO

    Pros

    Work/life balance
    Interesting work
    Benefits (gym, medical clinic on-site)
    Highly professional colleagues

    Cons

    Continual cutting of middle management and attempted replacement with entry level staff - very stressful for middle management
    Future of the company is unknown because of conservatorship
    Company shrinking except in IT


  8. Helpful (4)

    "Ok. No more overtime pay for professional positions"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Development Professional in McLean, VA
    Current Employee - Development Professional in McLean, VA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Freddie Mac full-time (More than 5 years)

    Pros

    Pay is decent, nice gym, cafeteria is awesome, implementing new technologies

    Cons

    Processes, fire drills, poor management, no pension, now no overtime pay for professional level, too many contract workers

    Advice to Management

    Value your workers. First you took away pensions. Then our desks. Now you're taking away our overtime pay. Stop trying to turn us into contractors. While you're at it, please stop hiring so many contractors. There is plenty of domestic talent to support the American housing market.


  9. Helpful (2)

    "Honest Opinion - from current Manager"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Technical Manager in McCleans Corner, MD
    Current Employee - Technical Manager in McCleans Corner, MD
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Decent pay (average , sometimes lower than industry standards), average benefits and nice gym. Freddie Mac is a place that is good for right out of college, the company has a big push to hire young talent , which is awesome, only to fall short in the retention practice. Freddie Mac is slowly creeping towards newer technology- but still uses old technology for a lot of its practices (Lotus Notes).

    For new managers and upcoming leadership - it is a good place to get your feet wet, but not much after. It seems to get stale and the career growth is very much limited by the 20-30 year veterans of the position/title above yours, keeping the promotion out of reach.

    There have been accusations of the work environment being hostile, and I would agree to an extent. It largely depends on what team you are hired onto and who your direct Manager is.

    Overall - I would recommend Freddie Mac to a newly graduated young professional who is looking to start out their career - but not much after that. The industry (Banking in general) has far better opportunities that pay better and offer better benefits.

    Cons

    The accusation of leadership being "disconnected" is completely true - Directors and above seem to be oblivious to what is actually happening below them, which often times leads to a severe disconnect between staff and the "higher ups".

    Embrace change - this is very big, Freddie Mac has a culture of not introducing change or embracing new technology. Sure - they "preach" about the idea of embracing change at the top level, but below that there is no action.

    Slow Career Growth - again, teams have leadership roles that sit stagnant for 10+ years, often times with the same Directors/Managers. This leaves little room for growth or advancement.


  10. "Professional"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in McLean, VA
    Current Employee - Anonymous Employee in McLean, VA
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I have been working at Freddie Mac full-time (More than 5 years)

    Pros

    Great teamwork, Good benefits, Great experience, and a Flexible company for people with families.

    Cons

    Too much politics. Very difficult to move to another department. Management keeps you grounded if you try to move or are ambitious to learn. You have to play nice with everyone even if they back stab you. Very New York Style Organization. People stomp over each other to move up. Company is headed towards the direction of only hiring college grads.

    Advice to Management

    Be a leader by helping your staff grow and learn. It only helps you look good.


  11. Helpful (2)

    "Freddie Mac has many areas for improvement"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in McLean, VA
    Current Employee - Anonymous Employee in McLean, VA
    Doesn't Recommend
    Neutral Outlook

    I have been working at Freddie Mac full-time (More than a year)

    Pros

    - Freddie Mac has good 401K benefits, as it will match 6% of your 401K contribution.
    - Some teams at Freddie Mac have good work-life balance. The key here is to find a good team. A good VP, director, and manager help a lot with achieving proper work-life balance.

    Cons

    - Unfortunately, Freddie Mac has no process for providing anonymous upward feedback for managers. As a result, Freddie Mac has a lot of mediocre managers who aren't good people managers and/or managers who don't properly train their subordinates. This fosters an environment of complacency, and those weak managers will continue to operate this way until Freddie Mac provides a tool to inform them of their opportunities for improvement.
    - Freddie Mac is in a state of conservatorship and is not growing, which along with a state of uninformed self-satisfaction among managers and directors, provides few opportunities to advance one's career. If Freddie Mac instituted an anonymous upward feedback tool and encouraged its use, managers would improve and Freddie Mac would be able to rotate or remove below average managers, which would provide additional opportunities to advance.
    - Every year Freddie Mac employees are provided with the opportunity to provide feedback/recommendations about their work environment to HR and upper management. Sadly, during my tenure here (2 + yrs) upper management has never specifically addressed the feedback/recommendations they receive. There is no acknowledgement that Freddie Mac is working hard to improve in areas that the surveys identify as areas for improvement. Employees are given NO insight into what upper management thinks or believes are legitimate areas for improvement or areas they are working on. As a result, employees may write the same recommendations year after year, with no reported progress being made with respect to those recommendations.
    - There is an uneven distribution of work outside of teams and within teams, this results in some employees having little to do, and other employees being overworked.
    - I agree with the other reviews that suggest that Freddie Mac is not the best environment for recent college graduates due to the lack of growth opportunities, below average managers (many of whom aren't interested in properly training their subordinates), and uneven work distribution, which can result in some people being overworked and others with an abundance of idleness.

    Advice to Management

    My advice to upper management is 1) to implement an upward feedback tool, 2) act on the upward feedback they receive, 3) to report back to employees regarding the overall findings from the surveys and what's being done to address them, and 4) be transparent about where Freddie Mac is with respect to addressing employees' concerns.


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