Technology/IT Consultants

Has anyone left consulting to join Fannie Mae or Freddie Mac technology?

likefunny
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works at

They are a hot mess. Beware. Never worked for them... just know

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I went the reverse direction, what do you wish to know?

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I actually had really good work life. It is a bit of a bureaucratic nightmare but at least at Fannie everybody is incredibly nice. There were occasional project managers that were super stressed, and some consultants worked insane hours, but for full time employees it was a cushy gig. Pay is good and generally the worklife was 35-40 hour weeks. Honestly great experience.

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For opportunities to grow- not really. Or at least to me there wasn’t a clearly defined hierarchy or growth pattern. That said, come in at manager level or higher and you’re fine. Many colleagues have several postgrad degrees or phds.

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For benefits, good salary, bonus was easily attainable, up to 8% match on 401k, $150 per month towards metro or parking depending. Some learning and development opps but not as many as you would see in a consulting firm.

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following

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@C1, oh wow sounds brutal. How long ago did you leave?

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If they did, probably wouldn’t be on here unless they boomeranged. So it’d be a pretty biased group

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@ PwC1 - thank you so much for such detailed insight! One last question, were you in technology there?

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I was on an analytic team that developed tableau products for different stakeholders across business units. Minor interaction with technology. The broader characteristics described above seemed to apply to Fannie as a whole. Of course you always run the risk of getting “that one” bad manager or boss. Those people were few and far between but existed.

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I actually came from Freddie Mac to consulting. It was my first job out of college. I got put in a rare good position where growth was inevitable. 2 months out of college I was put on as a PM to several projects replacing two Senior Project Managers who had just quit. The hours were crazy for me— 80+. But everything after 38.75 hours was time and a half. The pay is not great. And like others have said it’s a mess. But the training is really really good. They will pay upfront for certifications like CSM, CSPO and I think they’ve added a few others. But the biggest difference from consulting is the fact that you go from being a profit center for your company to being a cost center. And the effects are brutal. Business controls every aspect of everything on a given project. Everything is IT’s fault at Freddie Mac. No matter the situation They will drain half your budget on two “business analyst consultants” that are quadruple the cost of an IT FTE and then blame IT for being over budget. They will set the scope, budget, and schedule for IT projects. LOEs are just an exercise. At the end of the day the business decides. I have even seen them decide a shitty technical solution. It is my main driver for leaving. IT needs to help drive business not just serve them.

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What is work life balance, benefits and opportunities to grow?

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Additional Posts

Anyone else depressed over not finding jobs because of Coronavirus?

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Do folks in MBB also have to deal with contracting and engagement economics or is it just how it works in big4? Feel like we spend a significant amount of time in “contracting hell”

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Anyone have recommendations for vacation spots in Mexico?

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Is it me or has the work pace slowed down since coronavirus paranoia?

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Touchy feely client asked me today, “how come you never talk about your family? Don’t you get along with them? Family is so important to me.” I’ve been feeling particularly alone and lonely during Covid, but even before... I’m 50, single, never been in a relationship, really feeling kind of down at this “midpoint” in my life. I kind of keep people at arms length especially clients I’ve never even met in person. 😔 How do you even respond?

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Experienced data architecture associate role at PWC with 2 YOE out of undergrad. How much can I negotiate for?

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To hospital docs, as we screen for sx in the outpt setting with an eye towards who needs to be hospitalized for COVID, I assume dyspnea is main thing to look for. Other drivers of admissions?

likehelpful
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Does a senior partner referral at McKinsey (almost) guarantee you an interview?

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I was late to work today bec my morning routine was thrown off by the news that Tillerson was fired and I couldn’t stop reading abt it.

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The best information I have found about the virus has come from The NY Times “The Daily” podcast. Highly recommend the recent episodes on the coronavirus.

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Going on production during the Coronavirus? The shoot is small so insurance can’t cover if we cancel - but are other agencies not canceling? Feeling like a shoot is the opposite of social distancing.

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So... CNN says weeks of dense mass gatherings has no meaningful effect on COVID cases. Either COVID doesn’t infect you if you’re a BLM protester or we can stop with the social distancing altogether?

likesmart
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I wonder how coronavirus is impacting applicants in Asia. Normally schools send adcom to major cities to conduct interviews. Are those all going to be Skype interviews for R2?

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MBB how long are your projects?

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Is anyone in the position where their mentors tell them they're on the slate but there's no communication from practice lead? Do you know if there's an official HR communication on this? 😖

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Daaaamn OP, back at it again in the ATL!! Party?

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If given the chance, what would be your reasons for switching to another big 4 or to MBB? (Especially taking into account the network/brand you've built already)

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My god the s*xual frustration is at an all time high. I need COVID to pack its bags and head home ASAP so I can meet women again 🤬

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What gmat is required for mbb?

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Anyone in ATL this week?

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