Provident Funding Reviews | Glassdoor

Provident Funding Reviews

Updated July 14, 2017
126 reviews

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126 Employee Reviews

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Pros
  • Entry level salaries are respectable (in 15 reviews)

  • The best reason to work at Provident Funding is the job security (in 6 reviews)

Cons
  • Managers will micro manage you, there really isn't any room for advancement, middle managers lack people skills, you will be treated like a robot (in 5 reviews)

  • As others indicated, no matching 401K or sick days (in 7 reviews)

More Pros and Cons

  1. "Servicing Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Service Representative in Cypress, CA
    Current Employee - Customer Service Representative in Cypress, CA

    I have been working at Provident Funding full-time

    Pros

    Good paying entry level job. Young workplace. Fast paced never boring.

    Cons

    No matching 401k. Could offer more time off or sick days. Little to no recognition for doing a good job.

    Advice to Management

    Offer matching 401k or other retirement benefits. Extensive summer Fridays to year round. Offer sick days.


  2. "Servicing"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook

    I worked at Provident Funding full-time (More than 3 years)

    Pros

    Decent raises and Christmas bonuses. Opportunity to be "promoted" to a specialized role. Certain managers want you to succeed.

    Cons

    Once you are moved to a new role, you will never be moved again. The rules only apply to certain individuals. Servicing managers love to micromanage and try to tell individuals in other departments what to do. They also think they have way more power than what they actually do. The "favorites" can get away with anything. People constantly talk behind your back and then nice to your face.

    Advice to Management

    Benefits are terrible. No 401k?? Where is the CEO? Company makes millions, but he is nowhere to be found.

  3. Helpful (3)

    "Depressed Workforce, Retail Sadness"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Pipeline Analyst
    Former Employee - Pipeline Analyst
    Negative Outlook
    Disapproves of CEO

    I worked at Provident Funding full-time (More than a year)

    Pros

    It's a small paycheck with exposure to the industry, but certainly not nearly enough to deal with the utterly lost management.

    Cons

    I worked with Provident's Retail division. I was hired as a part of their Associate program. We were all young college kids promised a fulfilling career, ripe with opportunity. Instead our group was quickly shoveled into customer service calls with the Servicing department or sentenced to years of customer-facing roles which they referred to as Production Support or Pipeline Analyst. Horrible.

    Provident's Retail division was utterly depressing. The team is led by, I guess you could call the guy, a "manager" who is completely out of touch with reality, intent on treating intelligent people like robots, and yelling at anyone who disagrees with him. Great leadership here, folks.

    Advice to Management

    Like you even care?


  4. Helpful (2)

    "terrible company to work at"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst in San Bruno, CA
    Current Employee - Analyst in San Bruno, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Provident Funding full-time (More than 3 years)

    Pros

    you dont have to do a whole lot to get by. just do the bare minimum and you'll receive your yearly bonus

    Cons

    terrible managers, the COO lori pica is a terrible person and should really consider retirement


  5. "Underwriter"

    StarStarStarStarStar
    Former Employee - Underwriter in Tampa, FL
    Former Employee - Underwriter in Tampa, FL

    I worked at Provident Funding (More than a year)

    Pros

    It was a great experience working at Provident Funding, but I had to move to a location of the country were the company did not have any locations, so I had to resign.

    Cons

    I have not bad comments about Provident Funding.


  6. "Not to bad as your first job out of college"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Provident Funding full-time

    Pros

    Great place to learn and get experience if you just graduated and started your hurts office job.

    Cons

    Low pay and basic benefits package.


  7. Helpful (4)

    "Poor culture and dissatisfied workforce stems from mismanagement at the top"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in San Bruno, CA
    Current Employee - Anonymous Employee in San Bruno, CA
    Doesn't Recommend
    Neutral Outlook

    I have been working at Provident Funding full-time (More than 3 years)

    Pros

    Probably overpaid for the nature of the work. Likely won't be laid off unless poor performance can be thoroughly substantiated because upper management is afraid of potential wrongful termination litigation, though they say it is "part of the culture" to retain staff.

    Cons

    The CEO, as intelligent and knowledgeable of the mortgage industry as he may be, is extremely detached from the operations and employees within branches that generate his profits. A short anonymous survey of his employees would convey just how dissatisfied some people are and why, but this would require an effort on his or his wife's (COO) part to understand the true culture fostered. In short, he is either ignorant by accident or on purpose, neither of which characterize a respectable CEO.

    As is emphasized in several other posts, the level of nepotism is unapologetically laughable. Unfortunately subjective interpretation of performance has become a running joke within the company.

    Management makes an effort to provide the illusion of culture over culture itself. The true in-office camaraderie comes from bonding over feelings toward management. Unfortunately those who could change this sentiment either don't understand or don't care.

    There are several other areas to cover, but hopefully this gets the point across to anyone who has another opportunity for employment.

    Advice to Management

    Sell the company so an effective executive management team can run it well.

  8. Helpful (5)

    "Underwriter"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Underwriter in Minneapolis, MN
    Former Employee - Underwriter in Minneapolis, MN
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Provident Funding full-time (More than 3 years)

    Pros

    People you work with are young college graduates.
    The pay was good for entry level work.
    Based on performance you may receive a bonus.
    They provide good training for each position in the company.

    Cons

    The work is very monotonous.
    Nepotism is very apparent in management positions.
    Very little advancement opportunities (unless related to owners family).
    Benefits are non existent.
    Based on your position you will feel like a cog in the machine.
    All of your activity is micro managed.
    The work is very unfulfilling.
    Very little flexibility with your time (in chair by 8 leave at 5)

    Advice to Management

    Offer advancement opportunities bases on merit.
    Offer benefits such as 401k, sick pay, etc - these help keep people working for you.
    Allow flexibility with your employees time.


  9. Helpful (5)

    "Decent pay for recent grads, but horrible culture and minimal career opportunities"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Credit Analyst
    Former Employee - Credit Analyst
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Provident Funding full-time (More than a year)

    Pros

    - Readily hires recent graduates with minimal industry experience
    - Entry level salaries are respectable
    - Free Folgers (but this is really a con when you taste it)
    - Discounts on mortgages (but this won't apply for 99% of the applicants as the mortgage qualifications are incredibly strict and not geared towards first time homeowners)

    Cons

    - Extreme nepotism: Provident Funding is family owned and run by the extended family. I was around long enough to experience several managerial changes and it was clear familial relations were much more important than qualifications.
    - Company culture: Expect to be treated as an expendable worker. There is little to no camaraderie, basically no perks and a general understanding that good pay is more important than an exciting, friendly workplace. All non-work websites are restricted and no social events are organized. You will receive a $10 per diem for food around the holiday season but only if your team performs up to standard. The management will then tell you how special you are to get this per diem, basically making you think they treat you so extraordinarily well. This couldn't be further from the truth.
    - Constant job security threats: You are required to go through testing once you begin as an employee with the threat of termination should you do poorly on the tests. From the get go you get the feeling that you are expendable and not welcomed in with open arms. Once you are internally "certified" from passing the company tests, your work is monitored and should you make any mistake, a blemish is added to your company record. Problem is, mistakes are not rare in this industry and they know this.

    Advice to Management

    - Make your employees feel like they are more than just 9-5 robots. ANY perks would be nice.
    - End your false promises about the bountiful promotion opportunities. This dishonesty is so blatant.
    - Look outside of the extended family for promotions. Your executive team and regional leads are all family members or college friends. This cannot continue for a healthy company who tries to promote from within.


  10. Helpful (5)

    "OK Starter Job, Nothing More"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Servicing in Santa Rosa, CA
    Former Employee - Servicing in Santa Rosa, CA
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I worked at Provident Funding full-time (More than 3 years)

    Pros

    You sit in a desk and do easy busy-work all day. Free coffee. You'll be told "Thank you!" so much to the point that the phrase has lost all meaning. You will never be fired unless you manage to cost the company thousands in fines or errors, but if that's the case you're probably only suitable to work as a manual laborer because this job is laughably easy. Most coworkers and managers are nice and want you to succeed.

    Cons

    Too many to name. Company pays higher than market for this type of work so you stay longer than you should. Growth within the company is incredibly limited, you start as an underwriter or CSR and if they detect you have any intelligence you are "promoted" to a specialized role, otherwise you're stuck in one of those basic roles(one coworker had been a customer service agent for 5 years!!! how?!?!) I saw a grand total of ONE person move into a management role in THREE years! There simply arent any management roles to create and any manager working here is clinging to their massive salary(I assume this because why else would you be a manager here?) here as long as possible so good luck getting one of those roles. Also nepotism is rampant, the only exec who isnt family is the CFO. Company doesn't care about it's employees at all, well they think providing basic benefits, free coffee, and telling their employees how much they're appreciated is "caring for their employees". The best reward you can hope for is a "pizza party" for your office if everyone does well(what are we? 12 years old?). The worst part being all the employees who buy into this crap and think PF is actually a worthwhile employer. Do yourself a favor and if you absolutely have to work here, dont stay longer than a year, you'll absolutely regret it. Oh and any review that praises the company is either fake or done by someone so naive, they actually think this company is good to work for. I could continue ranting about how bad it is, but in short, this place is just the worst.

    Advice to Management

    HA! Like they'll ever change, my advice is to retire and let someone new actually change this place into a healthy work environment


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