Flagstar Bancorp
2.4 of 5 118 reviews
www.flagstar.com Troy, MI 1000 to 5000 Employees

Flagstar Bancorp Reviews

Updated Jul 9, 2014

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2.4 118 reviews

                             

57% Approve of the CEO

Flagstar Bancorp President & CEO Alessandro P. DiNello

Alessandro P. DiNello

(30 ratings)

31% of employees recommend this company to a friend
118 Employee Reviews
in

Review Highlights

Pros:
  • "Competitive pay, normal hours, good benefits, good PTO, opportunity to move up"
    in 5 reviews
  • "Good benefits work life balance"
    in 3 reviews
Cons:
  • "Flagstar has little room for advancement"
    in 4 reviews
  • "No where to grow unless you are in with upper management"
    in 4 reviews
  • Show more review highlights

Reviews

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    • Approves of CEO

     

    Flagstar Bank will elevate you to new levels, if you do the same for them

    Manager (Current Employee)

    ProsFlagstar Bank offers a level of security that is not found in larger financial institutions today. The institution is primarily run by a family who started the firm and has been in the business for 39 years. They are very family focused and the employees reap the benefits with support from management. There was an employee who passed away a few years ago and left behind children and a wife and had no life insurance. The leadership stepped up and created a fund to help the family is very short order. That in itself speaks volumes about the type of firm you would be working for. Do not be mistaken, they are very shrewd and make the tough decisions every day. But overall, Flagstar is an amazing company to work for.

    ConsRecent private equity investment injecting the typical big bank mentality after years of bliss

    Advice to Senior ManagementListen to other than yourselves!

    Yes, I would recommend this company to a friend

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    For the most part, the experience was good especially in the beginning.

    Anonymous Employee (Former Employee)

    ProsThere was an increased emphasis in training and it's good to be exposed to some training that doesn't necessarily involve your job.

    ConsThere were too many levels of management and not enough communication throughout. And often changes in upper management in the last 3 or 4 years. It's difficult for me to recommend Flagstar as a good place to work anymore.

    Advice to Senior ManagementInvolve everyone so they feel part of the process.

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    Management is constantly changing....lack of consistency

    Anonymous Employee (Current Employee)

    ProsSome really great people within the organization to work with, but many of them do not stay because their contributions are not valued. The work is interesting, and assignments are challenging.

    ConsNot enough management training
    lack of upward mobility
    focus of company seems to constantly change

    Advice to Senior Managementcross train employees, better 401K benefits needed, work on retention of quality employees.

    No, I would not recommend this company to a friend

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    1 person found this helpful  

    I've actually heard from someone that 'We work for peanuts...'

    Loan Analyst (Former Employee)
    Troy, MI

    ProsEveryone is pretty much friendly and tend to work and get along together quite often in my experience.

    ConsThere are areas or departments where employees are quite under paid and takes long periods of time for small monetary increase , but management always expect for constant hard work and dedication.

    Yes, I would recommend this company to a friend

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    anonymous

    Anonymous Employee (Former Employee)

    ProsCoworkers are like second family. great location. sort of relaxed environment depending on department

    ConsToo many hours, too many projects that are started and never finished, too many managers, difficult to move up within company

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    Former AE

    Account Executive (Former Employee)

    ProsFlagstar is well known in the wholesale lending arena. They were one of the first to bring the concept of the emerging banker into the lending world, so they are very good at it. They have excellent technology as well.

    ConsThey have recently laid off of bunch of individuals and the ownership is different now than when I worked there, so I am not the best person to speak on how things are now. It has been longer than 2010 since I worked there, however the system doesn't have that option. I am a stockholder though, so I still know what is going on to some degree there.

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    A very fast pace environment with growth potential, if you are willing to put in a lot of hours.

    First Vice President (Current Employee)
    Troy, MI

    ProsAbility to make a difference in a growing company.

    ConsPoor systems, weak infrastructure. A lot of manual work.

    Advice to Senior ManagementPeople are the greatest asset - treat them with respect and they will do great things for you.

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

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    My experience at Flagstar started off ok. Then it became a nightmare. They started to track your every move.

    Post Closer (Former Employee)
    Troy, MI

    ProsThey are willing to hire people with little to no experience. There is some potential to move up.

    ConsManagement is rude. There is no lunch room on any of the floors. You have to share microwaves with the whole company.

    Advice to Senior ManagementManagement needs to stop mico-managing their employees. They make you feel like you are always doing something wrong. They need to encourage their employees more. This will help boost moral.

    No, I would not recommend this company to a friend

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    Flagstar bank is an alright place to work, tough to move within.

    Loan Officer (Former Employee)
    Troy, MI

    ProsFlagstar is a small enough bank that most people at corporate are known around. They have the big bank name and small to medium bank feel that makes customers feel comfortable.

    ConsIt felt difficult to get promoted within, most people have been there for a while and like where they were at and content without going anywhere.

    Advice to Senior ManagementShow a path to career advancement to new employees.

    Yes, I would recommend this company to a friend

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    • Culture & Values
           
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    Senior Loan Officer

    Senior Loan Officer (Former Employee)
    Bloomfield Hills, MI

    ProsClean, secure work environment. No clock to punch and little to no supervision. Extremely easy interview process, acceptance and placement. Given trust from day one.

    ConsI worked for Flagstar for one year. Unfortunately, I found no encouragement to succeed. No corporate culture. No "in person" training. No career path and restrictive prospecting policies.

    Advice to Senior ManagementPay a "living wage" to those who provide professional services on behalf of the bank. Engage in in person training and create a corporate culture of any kind. Encourage management to take an interest in employees in the field. Include all employees in year end bonuses when bonuses are given.

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

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Glassdoor is your free inside look at Flagstar Bancorp reviews and ratings — including employee satisfaction and approval rating for Flagstar Bancorp CEO Alessandro P. DiNello. All 118 reviews posted anonymously by Flagstar Bancorp employees.