Provident Funding Reviews | Glassdoor

Provident Funding Reviews

Updated April 18, 2017
125 reviews

Filter

Filter

Full-time Part-time

125 Employee Reviews

Sort: Popular Rating Date

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. Helpful (2)

    "Analyst"

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

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

    Pros

    This place offers a fairly decent paid for an entry job with a 6-month review that comes with a small raise. Most times, you will get to sit around and do nothing. The work was also easy, a High School Graduate can do most of the daily work here.

    Cons

    I felt like a robot working here, and so is everyone else around me. The work environment is dull and slow with extremely little communication, unless you are trying to suck up to your managers or on the phone with borrowers. I have learned almost nothing from this company that would be applicable to any other jobs out there. I know the company has a very high turnover rate, but it doesn't seem like they care. Upper management hire people for low level tasks and continue to recycle them out with new hires, and only worrying about keeping the managers happy. Take this job only if you are very interested in the mortgage industry or just want an easy and mindless 8 to 5 job.

    Advice to Management

    Step down from your high horse and take a look around you. Learn how to treat your employees like people not just another tool in the box.


  2. "Great Starter Job"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Representative in Los Angeles, CA
    Former Employee - Customer Service Representative in Los Angeles, CA
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

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

    Cons

    only 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 Management

    Competition is good but rewards should be greater otherwise employees burn out

  3. Helpful (1)

    "THE WORST"

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

    I have been working at Provident Funding full-time (More than a year)

    Pros

    There are some nice people.

    Cons

    Stay away from this company at all costs. This is a family operating business. The only way to be at top management level, you gotta be the "pica".


  4. "Good for a first job out of college."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Great 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 Management

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


  5. Helpful (1)

    "Sweatshop"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Lead in Los Angeles, CA
    Former Employee - Lead in Los Angeles, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Provident Funding full-time (More than 5 years)

    Pros

    Entry 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

    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

    Advice to Management

    Ruling by fear is not a way to lead


  6. Helpful (1)

    "High level career opportunities in a short time"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Los Angeles, CA
    Current Employee - Anonymous Employee in Los Angeles, CA
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    High level of review and employee awareness from upper management.
    Opportunity to build a career and advance quickly, especially as a recent college graduate.
    Good entry level salary.
    Young yet productive work environment.

    Cons

    Only bank holidays off. No sick days.
    Minimal travel.
    No matching 401k

    Advice to Management

    Increase PTO and rewards for performing well.


  7. Helpful (2)

    "Learned a lot, suffered a lot."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Production Support Specialist in Santa Rosa, CA
    Current Employee - Production Support Specialist in Santa Rosa, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Provident Funding full-time (More than a year)

    Pros

    Good job security...honestly that's all I can think of.

    Cons

    Not the most exciting group of employees, SLOW upward mobility, management seriously hates you. Absolutely no respect for subordinates

    Advice to Management

    Haha...like you would ever change

  8. "Not too difficult to move around in the company, however managers were treated disrespectfully."

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

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

    Pros

    The salary was not bad.

    Cons

    Upper management yelled at managers when standards were not met. Too much emphasis was placed on numbers and working overtime.

    Advice to Management

    Treat employees with respect and provide work-life balance. Provide a matching 401k.


  9. Helpful (1)

    "Worst Job I've Ever Had"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Audit Department in Burlingame, CA
    Former Employee - Audit Department in Burlingame, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Provident Funding full-time (More than 5 years)

    Pros

    Probably the only thing that this company has going for it, in terms of employment, is that it's a job. The CEO does know what he's doing but that's about it.

    Cons

    Provident is run by one family, husband and wife, brother, father, and a family friend. They have absolutely NO idea about hanging onto good employees and the place is run exactly like a factory. Come into work at 8 am, work work work until 5 pm, go home and repeat the next day. Sometimes they expect you to come in on weekends. I worked in the Audit department and when I was there they told me to do one thing before the audits went out and then another thing when the audits were disputed. Almost all major audits were disputed and removed so what's the point of even having an audit department? They expected you to literally do the work of two people and to be happy doing it. They'd have company-wide conference calls every once in a while and talk the talk about how much they value their employees and unless things have radically changed since I left in 2010, don't believe a word of it. If you quit, don't even bother asking for any recommendations, they do the bare minimum in terms of verifying your job with your new employer - it's like they're vindictive but in a childish way. The mid-levels have a huge chip on their shoulder because they're given a little responsibility. Five holidays per year, you work the day after thanksgiving. The day before thanksgiving and Christmas Eve, expect to stay until 5 pm, they won't let you out early. I ended up quitting and going back to school to do something different - completely soured my outlook on working in Finance.

    Advice to Management

    Restructure, get rid of the mid-levels and hire good people. Do what you can to make them feel valued and appreciated.


  10. "So So"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Funder, Underwriter, Trainer in Bellevue, WA
    Former Employee - Funder, Underwriter, Trainer in Bellevue, WA
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Provident Funding full-time (More than 5 years)

    Pros

    -The company has a good CEO Craig and Lori Pica; they are both very understanding and is willing to listen to suggestions if they ever get to them. Majority of the time however the immediate supervisor will take credit for the work or is unwilling to pass on ideas.
    -decent training program and support for small company

    Cons

    -although the CEOs are great themselves the fact that they are a private company that can not control the simplest aspects of promoting correctly--they should be named as the first negative aspect of this company.

    -promotion is based on whether you are willing to stay over time, but management fail to check whether the overtime was warranted. Many employees do honest work and do not require overtime is punished b/c they are viewed as dedicated. Especially people who are new typically sit on their phones playing with Facebook or twitter, then spend extra time at the end of the day so they can earn overtime. Those are the people that get notice at this company bc they simply stay after.
    -lower management is often a year into the job and have no experience dealing with people. They are very power hungry, incompetent, and non-knowledgeable.
    -while I was employed here, there were two specific example that just blew my mind. Case 1: an employee was at the branch for about 1 year and he threaten to quit, the head of the department gave him a raise and promoted him to branch manager simply he does an insane amount of overtime. After about 6 months as branch manager the employee left for another company anyways. Case 2: the wholesale division manager promoted an employee who has been with the company for about 1 year over an experienced underwriter who had trained me I funding and underwriting--after a year this new branch manager was fired for incompetency. These are just two very specific case of mismanagement which causes confusion and chaos in the branch.
    -some branches have remote managers so new employees take advantage of this. They arrive late and have someone log onto the system for them so they are shown as being on time. Remote managers are too incompetent to know that they should call a branch meeting each day or once in a while to make sure everyone is on time!

    I was with provident for roughly 4.5 years. I worked as a funder for 2 years, then worked as an underwriter for 1 years then became a trainer for about a year and a half and left for PACCAR mainly bc I was sick of seeing discrimination and lack of values in promotion practices. Currently I manage roughly 6-7 folks.
    My advice for new graduates is that if you are looking for a job in this track then prepare yourself---this is not the best company to work for. Your "manager" will likely be fairly incompetent, your training will be decent, your hours will be long, and you will be frustrated.

    Advice to Management

    -do not promote people just because they do a lot of overtime. Check to see what they accomplished throughout the day as well. Check for accuracy and not just quantity.
    -show loyalty to those who stayed loyal with the company.
    -instead of trying to save money by promoting the younger and more inexperience people, award the people who has been there with the company and know what they are doing.
    -check up on supervisors and make sure they are competent
    -do not have remote managers. Office manager is highly recommended. The office manager should have experience, been with the company, and know what he/she is doing.
    -do not promote people to "manager" over those who has been on the job for 5,6,7 or 8 years, after 1 year on the job! This creates chaos in the branch and these new 1 year managers are the core of incompetency. It does nothing positive except save the company some money in terms of lower compensation for the new manager.


Showing 125 of 125 reviews
Reset Filters