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1 person found this helpful  

The "Longevity Penalty" is in full effect at WaMu!

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

I have been working at Washington Mutual

Pros

The benefits aren't too bad and are in line with what I'm looking for.

Cons

The pay isn't great once you've been with the company for more than six months. The only way to be compensated fairly is to leave the company and then come back at what they would pay people coming from the outside. It's called the "longevity penalty"...

Advice to ManagementAdvice

Do a better job at mitigating risks! Realized the type of talent you have here within the company and work with HR to find ways to reward that talent and loyalty instead of always looking to bring people in from the outside and pay them better. Make it more equitable accross the board.

Doesn't Recommend
No opinion of CEO

Other Reviews for Washington Mutual

  1. 1 person found this helpful  

    Good times gone, target rich environment for new blood

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

    I have been working at Washington Mutual

    Pros

    Base compensation is above the local market, although benefits lag behind other local companies. The influx of East Cost management over the past few years means that new hires with connections to the new bosses will often get a fast track ahead of long time WaMulians - it's a great time to jump over from GE or JP Morgan and get on the fast track up the corporate ladder with your college alumni buddies or former colleagues. Of course, like many companies, much depends on who the department manager is and how they like to run their group. There are still areas within WaMu that are a great place to work, although the number of these is shrinking over time.

    Cons

    The company is in downsizing mode at present, so there is a greater and greater workload on fewer and fewer people. The overall morale is low, discontent is high.
    There has been a strong drive by management to have greater control over decisions, expenditure, etc. As a result, the empowerment to get things down at the grass roots level has been eroded to nothing.

    Advice to ManagementAdvice

    Stop listening to what your directs are telling you. Get out there among the rank and file for a change. Get out there on the teller line, on the floor in the back office. Make your own conclusions about what's working and what's not. The Senior VPs are great at telling you what you want to hear - how about finding out the real story for yourself?

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

    Weigh out your pros and cons before working for WaMu

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Napa, CA
    Former Employee - Anonymous Employee in Napa, CA

    I worked at Washington Mutual

    Pros

    The locations of branches are nice. They are working on putting more WaMus in more areas in the future.

    Cons

    The pressure to push products on customers that are not going to be beneficial to them.

    Advice to ManagementAdvice

    Please do a more comprehensive training on managers, especially interpersonal communication skills.

    Doesn't Recommend
    No opinion of CEO
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