First Marblehead
3.0 of 5 8 reviews
www.firstmarblehead.com Boston, MA 150 to 499 Employees

First Marblehead Reviews

Updated Nov 10, 2013

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3.0 8 reviews

                             

50% Approve of the CEO

First Marblehead President, CEO, and Director Dan Meyers

Dan Meyers

(6 ratings)

57% of employees recommend this company to a friend
8 Employee Reviews
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A best of times, the worst of times

Marketing (Former Employee)
Boston, MA

I worked at First Marblehead full-time for more than 3 years

ProsIn good times, plenty of resource and autonomy to fuel growth, smart and fun colleagues, data-driven intelligent decision making

ConsIn bad times, we were unprepared for the cliff of student lending drop off. There was no plan B and many were laid off ... Fast

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Loved my job!

Multiple (Former Employee)
Medford, MA

I worked at First Marblehead full-time for more than 3 years

ProsI worked for First Marblehead for just over 4 years and held a variety of positions.
Pros included:
-Great people
- Decent culture
-Great Facilities
-Great Pay
-Great Benefits
-Lots of Opportunity for growth and change
-Supportive Management

ConsIndustry troubles forced a change in the board which was ultimately the death knoll for most of us at the company. Misplaced trust in replacement leadership turned what was an awesome place to work into a very unstable place. Having met and worked with the CEO several times and him not even remembering we had met was a huge insult. On the other hand, Dan Meyers the original and current CEO, has a way of making everyone feel important. Sure he is mercurial but he is exciting and if anyone can restore FMC, it is him!

Yes, I would recommend this company to a friend

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good people, bad sr. leadership

Anonymous Employee (Former Employee)

I worked at First Marblehead full-time for more than 3 years

Prosgood people
good training and growth for some positions
great benefits

Consdisconnect between employees/management and lsr. leadership
no vision/mission

Advice to Senior Managementmight be good to get new sr. leadership to help run the company

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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I wouldnt want to do it again.

Loan Analyst (Former Employee)
Medford, MA

I worked at First Marblehead full-time for less than a year

Prosthe other temps I worked with, nice cafe,

Consthey take on temps promise them all this work, overtime and the upper manangement takes it for themselves and just smile in your face, not enough work. boring, they seem to like to keep the little people down, dont explain things throughly and to many people trying to train you everyday it was someone different and i understand you should learn different ways, but not in a one week trial. they tell you your doing good and then tell the manager your not, VERY two faced management.

Advice to Senior Managementdont make promises you cant keep,

No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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Until they laid everybody off, it was good.

Anonymous Employee (Former Employee)

I worked at First Marblehead full-time for more than 3 years

ProsSalary, Flexibility, Good People, Location, Benefits

ConsSr Management
Grew to fast
Poorly handled downsizing

Advice to Senior ManagementWatch growth more carefully

Yes, I would recommend this company to a friend

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ok

Anonymous Employee (Former Employee)
Boston, MA

I worked at First Marblehead

Proswas growing really fast with lots of opportunities

Conslack of communication among different departments

Yes, I would recommend this company to a friend

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Bad

Anonymous Employee (Former Employee)

I worked at First Marblehead

ProsVery friendly environment. Officers usually offer perks if deadllines and expectations are met. There was plenty of over time opportunities.

ConsLack of a future for better or for worse. Since the industry of selling student loans is gone, the company has remained stagnant.

Advice to Senior ManagementThere are no advice for management. They did their best. It was the economy which messed up everthing. They will just have to wait it out.

No, I would not recommend this company to a friend

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1 person found this helpful  

Buckle in for a wild ride -- great opportunity, but a wild-west atmosphere

VP, Marketing (Former Employee)
Boston, MA

I worked at First Marblehead

ProsLearning opportunities. First Marblehead is ahead of the curve in defning an emerging industry. There are tremendous opportunities to explore, experiment and define success. The caliber of colleagues is simply fantastic. People are tremendously smart and fun to work with. There is a very collegial atmosphere and a terrific social community.

ConsIndustry turbulence. Unfortunately the credit markets and regulatory environment have dealt First Marblehead several body-blows recently. There has been extreme turn-over and massive layoffs this year. The return of the former CEO, Dan Myers may provide a shot in the arm and a return to solid growth. Dan is an unpredictable maverick with an "in crowd" and an "out crowd". He'll clean house, but there may be opportunities for new employees to rebuild FM back to its deserved glory. Its a challenging, dynamic environment that does not place a premium on communication from Sr. Management or standard management practices -- work/life balance, benefits, career development etc. Its kind of the Wild West and Dan is the sherriff. Hope he likes you and buckle in for a wild ride.

Advice to Senior ManagementWith the rare opportunity for a "do-over" I would recommend hiring beyond your circle of "known buddies" and bringing in some outside talent who can help build infrastructure for scalable success. The last time around, FM's stellar growth took it from infancy to "awkward teenage" years without the opportunity to mindfully create a model for success at a larger scale. Place a premium on communication, allow more of your management team to contribute to success and recognize efforts and contributions.

Yes, I would recommend this company to a friend

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Glassdoor is your free inside look at First Marblehead reviews and ratings — including employee satisfaction and approval rating for First Marblehead CEO Dan Meyers. All 8 reviews posted anonymously by First Marblehead employees.