When I worked at Fannie 10+ years ago, there was the Manager->Director->VP hierarchy. Now when I check LinkedIn, there's Manager, Senior Manager, Director, Senior Director. And a lot more people appear to have those titles. Why did they make that change? Seems like too many managers and directors.
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And PO (project manager)... multiple per team.
They produce literally nothing. The average is one powerpoint slide per week per person.
All the managers/Directors from the banks that imploded in 2008 migrated towards Fannie Mae. People from places like World Savings are all over Fannie and they brought their shady tactics with them. Layers and layers of middle management. They could take a sledge hammer and fire all the VPs and Senior Managers at Fannie Mae and still have too many people.
And many more VPs, and SVPs. Ranks have grown vertically (more layers) and horizontally (more manament people), going against industry practice in a very significant way.