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Meltdown was inevitable

  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Project Manager in San Francisco, CA
Former Employee - Project Manager in San Francisco, CA

I worked at Washington Mutual

Doesn't Recommend
No opinion of CEO
Doesn't Recommend
No opinion of CEO

Pros

Pay was good. Project Management methodology followed PMI industry standards. Management had meetings in person to promote team work and get buyin on the business processes and work, but this just applied to the department that I was in, not global.

Cons

No trust or information sharing between business and IT. Lots of games being played. People so paranoid and cya, that everything in email.

Advice to Management

Don't know how it is now that it's Chase. Advice to WaMu senior management and anyone: when you see the star managers leaving, you know that a meltdown is ahead. Plus, read the newspapers and intranet. Was not in mortgage lending division; would be interesting to hear feedback from people who worked there.

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  1. WaMu - a bittersweet loss, but JPMC seems to be moving the business forward

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Executive Assistant in Seattle, WA
    Former Employee - Executive Assistant in Seattle, WA

    I worked at Washington Mutual

    Recommends
    No opinion of CEO
    Recommends
    No opinion of CEO

    Pros

    Washington Mutual was a great place to work, with an excellent benefit package and amazing community giving programs and support, especially in the headquarter city of Seattle. The verdict is still out on JPMC, which acquired WaMu in September 2008, but so far they seem like a good employer. Chase feels like a monolithic conservative corporate bank, and it is. But they set goals and deadlines and seem to hit those targets, which really establishes credibility, which is extremely important to those of the Wamulians that were retained, as well as new to Chase but long-time WaMu customers who are in a new market for JPMC.

    Cons

    Well the biggest downside was that it failed, and tens of thousands lost their jobs, benefits, 401k's and some lost stocks. But that is done and you have to move on. Otherwise, there was a discrepancy between the open level of communication of the sr. managers in my department, vs. what turned out to be the secrecy and silos with other sr. executives. I feel somewhat taken for a ride, because I actually believed what CEO and Board were saying in the weeks prior to the bank failure, in part because I was part of a culture that really tried to live the company's mission and values. WaMu was a great employer and working for them used to really mean something.

    Advice to Management

    Advice to former WaMu Senior management is futile, but to JPMC, continue to keep your promises. You will build loyal employees and customers by being upfront with people.


  2. Solid company with poor management.

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

    I have been working at Washington Mutual

    Doesn't Recommend
    No opinion of CEO
    Doesn't Recommend
    No opinion of CEO

    Pros

    One of the best reasons to work for Washington Mutual was the great pay; I never knew it before but we were paid a lot better than other big companies in Seattle. I've been told by many recruiters that I can't expect to make as much as I did before... very sad news. Another great thing about Washington Mutual would be the training (Opex, PMO, QV, etc) there are lots of great classes to develop your project management skills if you are interested in them. Lastly, I worked with really, really fun co-workers. They worked hard (some could've worked a bit harder..) but they were all very kind people that I enjoyed being around.

    Cons

    The company is gone now and if you wanted to stay on, it would have to be with Chase. I've been with the company for about 4 years and I definitely noticed lots of changes during those 4 years. There were major management changes in my group and although we all tried our best to change as the company began to face difficult situations, it was too little too late. The old project restart was a joke and what came after it was even a bigger joke. The company could've done more to prevent a government takeover but people were too worried about keeping their 'pork' and did not do what was best for the company.

    Advice to Management

    Don't be so greedy next time and a solid company wouldn't have to go down.


There are newer employer reviews for Washington Mutual
There are newer employer reviews for Washington Mutual

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