There are newer employer reviews for Flagstar Bank
There are newer employer reviews for Flagstar Bank

See Most Recent

Fear-based employer

  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Personal Banker
Current Employee - Personal Banker
Doesn't Recommend
Disapproves of CEO

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 Management

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

Other Employee Reviews for Flagstar Bank

  1. Would've Liked to Stay

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Manager
    Current Employee - Branch Manager
    No opinion of CEO

    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 Management

    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.


  2. Place is a joke

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Personal Banker
    Former Employee - Personal Banker
    Doesn't Recommend
    Disapproves of CEO

    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 Management

    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.


There are newer employer reviews for Flagstar Bank
There are newer employer reviews for Flagstar Bank

See Most Recent

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