Flagstar Bancorp

www.flagstar.com
There are newer employer reviews for Flagstar Bancorp

 

Fear-based employer

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Personal Banker
Current Employee - Personal Banker

I have been working at Flagstar Bancorp

Pros

The dental and vision benefits are fairly good. Vacation time is adequate.

Cons

Fear is the number one tool management uses to provoke results. The pay is below industry average, around $12/hr for Personal Bankers monthy bonuses are around $75-$100. A lot of the time PB's are in charge of the bank when the mangers are at job training and manager meetings.

Turn over is very high and doesn't seem to be slowing down.

If we don't reach our goals they make everyone at the branch come in on the last Saturday of the month.

We haven't has raises in 3 years...

Advice to ManagementAdvice

Morale is very low. Stop treating employees as "costs" that need to be "constrained"

Negative re-enforcement will only work in the immediate short term. The company needs a serious attitude overhaul and it must start from the Top – Down

Doesn't Recommend
Disapproves of CEO

145 Other Employee Reviews for Flagstar Bancorp (View Most Recent)

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  1.  

    Would've Liked to Stay

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Branch Manager
    Current Employee - Branch Manager

    I have been working at Flagstar Bancorp

    Pros

    As a direct lending manager you have access to the best of both worlds (lender/broker). Your compensation is unlimited because you get to eventually keep all of the profit your team brings in.

    Cons

    Support system could use work. There is definitely a "go out there an be somebody (with no help)" attitude.

    Advice to ManagementAdvice

    Make sure future branch managers have all the tools at their disposal (processors, originators, human resource support) before you even think about opening an office.

    No opinion of CEO
  2.  

    Place is a joke

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Personal Banker
    Former Employee - Personal Banker

    I worked at Flagstar Bancorp

    Pros

    Bonus and incentive pay are wonderful if you get lucky enough to reach the ridiculous goals they set for the branch.

    Cons

    They make their branch goals almost impossible to reach. Their mentality on getting clients to open different accounts and products is comparable to that of a cheesy used car salesman. I took training, studied and got certifications to improve myself and my stock within the company so I could move up and I was constantly rejected. Then on the day I submitted my 2 week notice I was offered a management position but by that time I was so sick of how they did business, I didn't care.

    Advice to ManagementAdvice

    Making threats to your employees is not a great motivator in order to get more sales and accounts. It actually causes them to panic and they take whatever means necessary to meet the goals and often times quality of customer service is not up to par because they're only worried about getting people in accounts to meet specific goals instead of setting them up with the accounts that would be the best fit for the client.

    Doesn't Recommend
    Disapproves of CEO
There are newer employer reviews for Flagstar Bancorp

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