Flagstar Bancorp
2.4 of 5 118 reviews
www.flagstar.com Troy, MI 1000 to 5000 Employees

118 Employee Reviews (View Most Recent)

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Interviewer Beware

Software Developer (Former Employee)
Troy, MI

Pros7.5 hour work days, and finally adpoting buisness casual dress code are about all I can think of.

ConsAfter becoming a distressed company and being purchased by Matlin Patterson in 2008 things have really fallen apart. Be warned that this company has slashed the I.T. department quarterly since then. Only with the recent improvement in the job markets has hiring re-started. Most currently employees will admit to looking for new employment elsewhere and their churn rate is on average 1 employee leaving per week.

While Boasting an "Agile" development shop, this is rather new and poorly implemented with more paperwork and requirements than some waterfall approaches. The technology is fragmented across multiple systems, languages and even within languages. A good example would be the use of Struts 2, 3 and Spring or Ant and Maven or Java 1.4-1.6 depending on the day.

If you are in need of a job to feed your family, perhaps consider an offer but don't stop looking. If you think this warning may be outdated as about the newly Morale committee (2010) and what they are doing to improve morale and reduce the number of veteran developers leaving.

Advice to Senior ManagementTrim your management down, or find something constructive to do with the mid level managers.

No, I would not recommend this company to a friend

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    • Work/Life Balance
           
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    Low pay

    Licensed Banker (Current Employee)
    Duluth, GA

    I have been working at Flagstar Bancorp


    Pros: Easy to shine, but no reward for going the extra… Cons: Very, Very low pay. No raises going on 3 years now. Sometimes you have to work… Advice to Senior Management: Copy other banks. If it works for them is… No, I would not recommend this company to a friend More
    • Work/Life Balance
           
    • Senior Management
           
    • Comp & Benefits
           
    • Career Opportunities
           
    • Disapproves of CEO

     

    It paid the bills.

    Anonymous Employee (Former Employee)
    Troy, MI

    I worked at Flagstar Bancorp


    Pros: The health benefits were great the 401k plan was great (but I think it… 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… Advice to Senior Management: Stop cutting people so that you can force them to produce as 3 people and do not lower… More
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