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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    • Disapproves of CEO

     

    Worst place to work for

    Project Manager (Former Employee)
    Troy, MI

    ProsThe commute wasn't bad at all

    ConsEverything; but especially senior management!

    Advice to Senior ManagementListen to your employees.

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

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    Many futile attempts to get back on course...

    Information Technology (Current Employee)
    Troy, MI

    ProsThe job pays well, benefits are decent (they were better), a good place to get some "on the job" experience. You get all the bank holidays, and every Friday is a $2 jean day, with donations going to some local charity. Employees will vary rarely be let go for incompetence: good for the employee, but just another sign of poor management. The current CEO actually seems to care. He may not tell the whole story, but he's been mostly truthful in his town hall meetings and has attempted to provide monthly voice recordings on the state of the company through the employee's internal web site.

    ConsMany issues with company performance has led to multiple changes in upper management over the last several years. Even though the current CEO is trying to get the company back on course, there is a lot of leftover "garbage" in place. Middle management seems to have their own agenda, not wanting to participate in change or provide assistance, which in the end should help everyone. Some employees have been pulled aside for not meeting quota, and others for going over quota when there is not enough work to go around: just excellent example of "be average or you don't belong." And then mandatory overtime is implemented when there is again too much work; great if you're paid hourly, but bad for salary. It's gotten to the point where some salary employees have been told not to clock in anymore. Interaction between business groups is minimal, causing tasks to be done over and over due to lack of information, which would have helped to get something done right the first time. Some teams apparently feel superior and provide no assistance, and face no consequences in doing so. While some of this has slowly began to change, it is still a huge problem when attempting to complete a project that requires multiple internal resources. Middle management seems to have found a work around by hiring in contractors and "off shore" personnel when these tasks could just as easily have been done internally if some backbone were in place to better manage the employees. Thus, we now have wasteful spending when the company is looking to save money. In order to offset that cost, raises are minimal, promotions few (unless you're a manager), money is hidden / stolen from other projects, and there is usually a yearly employee layoff between Thanksgiving and Christmas to make the stock look good. Happy Holidays for those who are let go during this time...

    Advice to Senior ManagementMiddle management needs to be better supervised and/or cleaned out. Some of these managers came from a time of about 10 years ago when the company had its own internal management training program, the proverbial "blind leading the blind." New ideas from new middle management would help instead of relying on previous methods that has brought the company to its current situation.

    No, I would not recommend this company to a friend

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    job just to bring home money

    Senior Subject Matter Expert (Former Employee)
    Troy, MI

    Prospaycheck and easy job. Get money without much efforts

    Consnegative employees and negative environment, Too many rude people.

    Advice to Senior Managementget rid of negative employees. Your problem is the location. Troy is not a good location to attract talents.

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

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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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    A mishmash of slop

    Anonymous (Former Employee)
    Troy, MI

    ProsSome good people who mean well, but quality leadership is sorely lacking.
    Good pay

    ConsTakes forever to get approval for anything. Also, most people are so siloed that working between groups to accomplish anything was a nightmare. Also, the "old way" vs the "new way" was a constant struggle. Constantly changing executive team also leads to lack of sirection.

    Advice to Senior ManagementListen to employees. You have a lot of talented people, but have a need to ignore them and hire consultants for everything.

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

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    Underwriter

    Anonymous Employee (Former Employee)

    ProsNice supervisors and regional managers

    ConsUpper management give very poor career advise and are ungrateful.

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    interesting

    Analyst (Former Employee)
    Troy, MI

    Prosbalance and time off was good

    Constoo many changes in cfo, ceo

    Advice to Senior ManagementStop changing executive management

    No, I would not recommend this company to a friend

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    Management lied consistently, too many layers of VP's. Title does not correspond with job ability at this bank.

    Senior Trainer (Former Employee)
    Troy, MI

    ProsA paycheck is about it.

    ConsManagers misled their own employees. Bank can't attract and keep top talent is not willing to pay for good talent. HR department is poorly run and consistently lied to employees. Too many CEO changes within last year which indicates poor executive leadership.

    Advice to Senior ManagementThe problem is they didn't listen to anyone while I was there and caused more fires than were needed.

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

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    Company does not have a clue where it's going and how it's going to get there.

    Branch Management - Assistant Vice President (Former Employee)
    Grand Rapids, MI

    ProsFlagstar bank has some extremely loyal employees who love what they do and wants this company to succeed.

    ConsThe retail banking side of Flagstar is very unfocused. Weekly, if not daily focus is changed on a dime with no thought on how this affects the customer and it's own employees. Market managers are unwilling to listen to their own employees as to what the front line is hearing from it's customer base and when things are brought to middle managements attention it is just ignored. Market Managers use fear as a motivation, although this may work in the short term it will ultimately come back to haunt you in the end.

    Advice to Senior ManagementFlagstar Bank used to be a place where the "open door policy" was actually that. Start listening to the people on the front lines and pay attention to how your Market Managers are treating your branch managers and front line employees. Sandro, you are a fantastic leader but have lost focus on the retail banking side. Look closely at who you have running that part of the ship, you may be surprised at what you find out. Lastly, bring back the good ole days when we enjoyed walking in the door every morning instead of this fear that this may be your last day of employment because of your micro managing Market Mangers with no heart or soul.

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

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    Big Mistake ...

    Anonymous Employee (Former Employee)

    ProsI don't have anything good to say about Flagstar. Just moving on...

    ConsThe worst time of my 20+ year banking career.

    Advice to Senior ManagementSell the Bank.

    No, I would not recommend this company to a friend – I'm not 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.