Flagstar Bank – Troy, MI
Underwrites all levels of complexity of mortgage loan applications and evaluates loans in order to maximize organizational profit and minimize risk… Flagstar Bank
- Comp & Benefits
- Work/Life Balance
- Senior Management
- Culture & Values
- Career Opportunities
I have been working at Flagstar BancorpPros
The company has benefits including healthcare, vision, dental, and life insurance.
The company observes 11 holidays with pay, and now offers one paid community involvement day to participate in volunteer activities the company supports.
The work environment is such that folks do work hard to solve problems and accomplish objectives at the individual level, department level, and organizational level.Cons
The leadership turnover is crazy, which produces a whiplash affect on the employment base due to new directions, new processes, and new ideas of how they want things done.
The out of pocket costs for premiums, co-pays, and co-insurnace are higher here compared to other employers I've worked for at the same level of coverage. This could be due to higher costs of healthcare overall, and/or due to the financial stability of the company.
The payscales are published which show huge six-figure salaries, but good luck in ever really getting ahead via promotion or via substantive merit increases.
The full time employee headcount is fixed which means new positions which could pay more cannot be created to allow promotions within, and the promotion opportunities that do exist are most often filled from the outside.
The company lacks a 360 performance review of management to allow feedback on how they are performing, so your boss can get away with behavior that her/his boss doesn't even know about.
Despite huge layoffs leaving only the best employees, the company has decided to make those who remain feel even worse about their individual performance by limiting the % of people who can get "outstanding" and "above average" performance ratings, and wants most everyone to be in the "meets" performance goals rating to pay little to nothing for our contributions.Advice to ManagementAdvice
Communicate more often about the direction of the company, our progress and challenges to overcome.
Improve compensation for non-commissioned staff. People work for money - just like you. The more you pay, the more we want to work hard to get ahead too.
Increase the paid time off. The amount of PTO is low.Doesn't RecommendNegative OutlookDisapproves of CEO