Flagstar Bank Reviews

Updated August 2, 2015
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Flagstar Bank President & CEO Alessandro P. DiNello
Alessandro P. DiNello
18 Ratings

Pros
  • There are a lot of good people, but also a lot of fake people (in 7 reviews)

  • clean work environment, no clock punch, managers are nice (in 5 reviews)

Cons
  • And often changes in upper management in the last 3 or 4 years (in 7 reviews)

  • There is little room for advancement and the leadership is constantly changing goals (in 4 reviews)

More Pros and Cons

57 Employee Reviews

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  1. cdr

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Service Representative in Farmington, MI
    Current Employee - Customer Service Representative in Farmington, MI
    No opinion of CEO

    Pros

    It's a starter job at a growing bank.

    Cons

    Took for granted my education, and felt that HR really screws over their employees.

    Advice to Management

    Just because they are family, doesn't mean they are qualified.


  2. Helpful (1)

    As everywhere, need to make compromises between what you want and what you are willing to settle for.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Troy, MI
    Current Employee - Anonymous Employee in Troy, MI
    Approves of CEO

    Pros

    Usually get to work on leading edge technologies. Some very solid technical team members.

    Cons

    IT management somewhat disassociated from developer pain points. Too much of a top down management style in IT.

    Advice to Management

    Say what you mean and mean what you say. Be more transparent.


  3. Still here

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Analyst in Troy, MI
    Current Employee - Business Analyst in Troy, MI
    No opinion of CEO

    Pros

    Great people, good times, hoep for the best. Learned a lot of aspects of banking. Potential of being a great regional bank. Need mortgages to come back to get earnings right and the stock price back above one dollar. Going through a growth period and capital struggle. Need to clean house and make efficient and effective moves.

    Cons

    Banking isn't good right now

    Advice to Management

    Think before you act. Listen to your employees, they have some good ideas. Don't be wasteful because that is how its always been done. get compentent systems because they work, not because of relationships.


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  5. It paid the bills.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Troy, MI
    Former Employee - Anonymous Employee in Troy, MI
    Disapproves of CEO

    Pros

    The health benefits were great the 401k plan was great (but I think it tanked so I wouldn't bet on that now). They do not require a college degree.

    Cons

    The pay was not competitive, there is pressure to work faster and faster and those who produce the most get advancement even when the mistakes they make from rushing far out way the production of solid work. If you are someone who takes pride in your work and do not like to make errors underwriting here is not the place for you.

    Advice to Management

    Stop cutting people so that you can force them to produce as 3 people and do not lower your standards for those who you have became friends with, while persecuting the ones who rarely make a mistake.


  6. Review

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Analyst in Troy, MI
    Current Employee - Business Analyst in Troy, MI
    Doesn't Recommend
    No opinion of CEO

    Pros

    Busy all day at work

    Cons

    Alot of layoffs to qualified staff

    Advice to Management

    N/A


  7. Great the first year, each year afterwards more takeaways from the company.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Report Developer in Troy, MI
    Former Employee - Report Developer in Troy, MI
    Disapproves of CEO

    Pros

    Co-workers, interesting coding challenges. Flexible work time if required

    Cons

    Work overload. So many cutbacks and takeaways. Lower management helpless when it come to giving raises.


  8. Stressful

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Manager
    Current Employee - Assistant Manager
    Doesn't Recommend
    No opinion of CEO

    Pros

    Great Co-Workers Fair on Vacation Days

    Cons

    Under paid high work load balancing too many hats

    Advice to Management

    Pay the employees more and hire more people. Trying to excel at every area is too difficult, employees should specialize in somehthing.


  9. Helpful (1)

    OK place to work

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Troy, MI
    Former Employee - Anonymous Employee in Troy, MI
    No opinion of CEO

    Pros

    - Used to have a pretty good management trainee rotation program, but I heard it has since been discountinued. - Generally friendly people to work with - There was not a strong expectation to work more than 40 hours in my area

    Cons

    - The banking industry can be depressing to work in especially when I was there in 2008 and watched an entire department get cut - Some significant silos were in certain departments (from the top down) - Pay didn't seem that competitive, although the economy was partially at fault because I worked there 2006-2009 and salaries were frozen

    Advice to Management

    I was there during the worst crisis in 70 years and unfortunately Flagstar did not get through it well. The capital infusions from both TARP and Matlin Patterson diluted the shares significantly and when I left the company was in shambles. Mark Hammond is a very smart guy and appeared to be a great economist, but he really didn't see this crisis coming. It appears the current CEO is trying to make things better by diversifying, but I think he is going about it in the wrong way. Just because the CEO has contacts in the Northeast does not make it a good strategy since Flagstar had no existing footprint there. Taking one failed strategy at Soverign and making it a strategy at Flagstar while continuing to bleed cash seems like a very bad short term outcome for all of your shareholders. I wish FBC the best, but I have extreme doubts that any shareholder will get even half of their initial investment (MP included). One last point to the current CEO, stop blaming "legacy" on everything in your conference calls. You have been there for over 2 years, it is now your responsibility.


  10. You could be stuck forever

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Programmer Analyst III in Troy, MI
    Current Employee - Programmer Analyst III in Troy, MI

    Pros

    The company has some really skilled programmers and architects that allows a junior to grow.

    Cons

    However due to all kinds of management changes, you may get luck and get your promotion just by being there the right time and right spot, or you may be given the lip service forever.


  11. Helpful (1)

    Be prepared to follow the rules that change every day.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Systems Administrator in Troy, MI
    Former Employee - Systems Administrator in Troy, MI
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Flexibility to work from home. Good benefits.

    Cons

    Lack of career path. Goal planning and performance reviews are not taken seriously by employees.

    Advice to Management

    Quit playing favorites and make the organizational changes to distribute duties to the right teams.



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