Washington Mutual

  www.wamu.com
  www.wamu.com

Washington Mutual Reviews

Updated September 26, 2014
Updated September 26, 2014
353 Reviews
4.0
353 Reviews
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Washington Mutual Chairman & CEO JP Morgan Chase James Dimon
James Dimon
37 Ratings

Review Highlights

Pros
  • Great people, true team environment, challenging work, fair compensation, perfect work/life balance (in 41 reviews)

  • They offered great benefits and good supports for the families of employees (in 14 reviews)


Cons
  • Senior management was a mixed bag; lack of accountability at the highest levels (in 35 reviews)

  • Too many changes in upper management that disrupted the lower ranks - on a regular basis (in 15 reviews)

More Highlights

35 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    WaMu on its Last Leg as JPMorgan Chase Takes Over... Good Riddance!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - First Vice President in San Francisco, CA
    Current Employee - First Vice President in San Francisco, CA

    I have been working at Washington Mutual

    Pros

    Fair Compensation and Benefits, Reasonable Work/Life Balance, Challenging Business Problems to Solve and Lots of Opportunities for Improvement in Business Models and Processes

    Cons

    Even before the JPM takeover, senior management communication was poor, and the overall level of leadership from the VP-level up vs. other financial companies has been mediocre at best (particularly from former Providian managers). Lack of understanding and appreciation for work support groups provide by Marketing and other senior leaders.

    Advice to ManagementAdvice

    Learn from your mistakes... You poorly managed the company, its employees, and its reputation, and look what happened. Improve the quality and frequency of leadership communication to keep employees informed.

    Doesn't Recommend
    Disapproves of CEO
  2. 1 person found this helpful  

    Hold off until the dust settles

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee in Seattle, WA
    Current Employee - Anonymous Employee in Seattle, WA

    I have been working at Washington Mutual

    Pros

    Work life balance was great before Chase acquisition - no idea what it will be like going forward

    Cons

    Current uncertainty surrounding recent acquisition by Chase

    Advice to ManagementAdvice

    Take your time in merging the two companies - really look and see where the talent is and who you should retain.

    Doesn't Recommend
    No opinion of CEO
  3. 1 person found this helpful  

    Not a great working enviroment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - PFR in Huntington Beach, CA
    Former Employee - PFR in Huntington Beach, CA

    I worked at Washington Mutual

    Pros

    WAMU will prepare to license all PFRs. PFR stands for Personal financial Rep. WAMU will help PFRs to get 6 and 63 licensed. For now, They are not looking for PFRs. WAMU has too many of them right now.

    Cons

    Washington Mutual Doesn't promote PFRs or doesn't allow PFR to transfer. Some branch manager will not allow top PFR to transfer, expecially, when they need your production.

    Advice to ManagementAdvice

    WAMU Management is a mess right now. eventually it will get better.

    Doesn't Recommend
    Disapproves of CEO
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  5.  

    Sounds good on paper, but not a good place to work.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Corporate Communications in Seattle, WA
    Current Employee - Corporate Communications in Seattle, WA

    I have been working at Washington Mutual

    Pros

    It's a big company and had a lot of positions and departments to choose from.

    Cons

    Now it's been acquired by JPMorgan Chase.

    Advice to ManagementAdvice

    Listen to employees at the front lines and middle management. Fix problems before they become too big to deal with.

    Doesn't Recommend
    No opinion of CEO
  6. 1 person found this helpful  

    Horrible place to work...don't even think about it if you are driven, intelligent, and hard working

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Assistant Vice President in San Francisco, CA
    Current Employee - Assistant Vice President in San Francisco, CA

    I have been working at Washington Mutual

    Pros

    I really can't think of any good thing about working for WaMu! It really is a horrible place to work, most people are here simply for the paycheck. If you are seeking challenging employment, engaging and intelligent people, and ample career advancement opportunities, this isn't the company for you!

    Cons

    Everything about working at WaMu is a downside. The only thing I can think of is that it is a very stress free work environment, mostly due to the fact very few employees are motivated to perform. The company lacks incentives that draw top performers.

    Advice to ManagementAdvice

    I'd plead for Senior Management to stay at WaMu. This is a bit self serving as hopefully I won't have to work with these buffons at my next company.

    Doesn't Recommend
    No opinion of CEO
  7. 1 person found this helpful  

    Never again.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Consumer Loan Services Account Representative in Bothell, WA
    Former Employee - Consumer Loan Services Account Representative in Bothell, WA

    I worked at Washington Mutual

    Pros

    They paid fairly well. I worked the call center in Bothell and that's why I took the job. It has since been relocated to India

    Cons

    As an employee you are a number and the customer is a number. They never cared if you helped the customer, so long as you got them off the phone in under 3 minutes. I was routinely punished for spending too much time helping customers with their jacked up loans.

    Advice to ManagementAdvice

    You're only as strong as your weakest link and regardless of how many hundred thousand customers you have, they should all be important.

    Doesn't Recommend
    Disapproves of CEO
  8.  

    Too much greed led WaMu to forget it should be a stoggie bank first.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Treasury Analyst in Seattle, WA
    Current Employee - Treasury Analyst in Seattle, WA

    I have been working at Washington Mutual

    Pros

    I haven't been laid off yet, but it is sure to come now that JP Morgan Chase has taken over.

    Cons

    They are dead and gone since the FDIC sold us down river.

    Advice to ManagementAdvice

    Remember that you are "bankers". Bankers should be stoggie and careful with their depositors money. A bank should not be in ALT "A" and other sub-prime loans.

    Doesn't Recommend
    Disapproves of CEO
  9.  

    Washington Mutual is not a good place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Project Manager in Vernon Hills, IL
    Former Employee - Project Manager in Vernon Hills, IL

    I worked at Washington Mutual

    Pros

    Although it was stressful and long hours, the pay was decent.

    Cons

    No career opportunities and poor management support of their employees. The "cover your arse" management "style was prevalent with many of the mid-management types, and when reviews are given, there weren't helpful suggestions or plans put into place where someone could actually make a difference *or* work towards some career advancement opportunities. Nepotism is rampant, and there wasn't a way for lower-level employees to improve their position, as it were.

    Advice to ManagementAdvice

    Kill the empire building and back-stabbing. CYA is not a management "style", but a cop-out.

    Doesn't Recommend
    Disapproves of CEO
  10.  

    Good job if you get a good manager and you're a man

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Test Specialist in Seattle, WA
    Current Employee - Test Specialist in Seattle, WA

    I have been working at Washington Mutual

    Pros

    Banker's hours, benefits, some good colleagues, project time lines allow for some planning

    Cons

    Terrible morale
    Terrible manager
    Blatant favoritism displayed by current manager
    Lack of respect for women by the technical department management staff

    Advice to ManagementAdvice

    Take advantage of profit-making opportunities but never again take the unreasonable risks Killinger approved.
    Encourage senior managers to talk to senior individual contributors regarding potential management improvements

    Doesn't Recommend
    No opinion of CEO
  11.  

    Killinger is a salesman, not a banker.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Credit Risk Officer in Seattle, WA
    Former Employee - Credit Risk Officer in Seattle, WA

    I worked at Washington Mutual

    Pros

    Being able to work in the wonderful city of Seattle is a big draw.

    Cons

    The thrift is not managed by an executive that understands the industry. That is Killinger is a stockbroker by trade not a banker. From that background he simply is not prepared to run a large complex financial institution, where downside risk management should be a core compentency.

    The company hired numerous seasoned industry professionals beginning in 2003, yet never listened to them. Especially when their collective advice put any restrictions on the untrained commission heavy sales force.

    Advice to ManagementAdvice

    The board needs financial industry leadership and then an evaluation of executive management

    Doesn't Recommend
    Disapproves of CEO

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