You're a passionate Engineer? Don't work here. Period. - Anonymous employee PENNYMAC Employee Review

1.0
Nov 2, 2014
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Great cafeteria options (although a little expensive) Great gym and facilities

Cons

If you're a passionate software or infrastructure engineer, just stay away from this place. Not only is there unnecessary process and office politics at every turn, but you have to deal with bully managers and a systemic toxic culture that leaves no room for work/life balance. And as others have mentioned, you will never get a raise at this place, ever. No bonus for you either, while most managers and executives roll into work in their $60k+ cars and have performance incentives in the form of QUARTERLY bonuses. Engineering is seen as nothing more than overhead and a bottom pyramid servicing department (like is the case with most financial services companies). This means they need you to follow orders, and not ask too many questions. Don't expect to have any freedom at all while writing code, or architecting systems either. They might lead you on to thinking you have control, but you have no authority over projects, yet are expected to be responsible for the outcome. Responsibility and authority are inseparable. This dynamic does inevitably lead to failures, that will hang over your head. Still feel like you wanna give this company a try and see for yourself? Well, you'll be looking at legacy code and poorly documented systems all day and working on a ton of dead end projects. Hard work will earn you no credibility whatsoever. You'll spend hours stuck in meetings and managers will then wonder why you're still debugging. You will then be asked to work weekends because "things just need to get done around here". If this is what you want day in and day out, then go for it. They're always hiring Engineers because people keep quitting, so you could very well end up getting an offer fairly quick.

Explore other reviews about PENNYMAC

5.0
Feb 23, 2026
Anonymous contractor
Recommend
CEO approval
Business outlook

Pros

good opportunity and meeting good people

Cons

nothing is there to say

avatar
PENNYMAC Response
3mo
Thank you for taking the time to provide your honest feedback about your experience with our company. We are delighted to hear that you enjoyed working with us in your capacity and appreciated the friendly work surroundings. Indeed, we believe that a positive work/life culture is a crucial aspect of any successful business, and we are glad that you recognized our efforts in this regard. Thank you for being a part of our team and we look forward to continuing our positive working relationship with you.
2.0
Jun 17, 2026
Recommend
CEO approval
Business outlook

Pros

Training was always provided and you were never rushed to learn. Snacks were given on a daily basis. You had a Penny Pantry in the building that offered free coffee/Soda and a variety of food selections at a resonable price.

Cons

Low paying position at $22.00 an hour to start with no increases. The department couldnt find other Loan Specialist for the longest time and then increased the position to $27.oo an hour in an effort to attract more people. Four of the employees that were already there for a few years in the department were allowed to work remotely on Thursdays and Fridays, every new Employee had to work on site. Bonus was paid a month and a week after the quarter, so March's bonus was given to you on May 7! Human Resources lied and was extremely unprofessional, when challenged they offered no response or made up false information. My recommendation after being rehired and resigned, is to run in the opposite direction, and dont look back.

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