Flagstar Bancorp

www.flagstar.com
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Employee Reviews

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  1. 2 people found this helpful  

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Branch Management - Assistant Vice President in Grand Rapids, MI
    Former Employee - Branch Management - Assistant Vice President in Grand Rapids, MI

    I worked at Flagstar Bancorp full-time (more than 8 years)

    Pros

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

    Cons

    The 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 ManagementAdvice

    Flagstar 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.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  2. 1 person found this helpful  

    Big Mistake ...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bancorp full-time (less than a year)

    Pros

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

    Cons

    The worst time of my 20+ year banking career.

    Advice to ManagementAdvice

    Sell the Bank.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3.  

    Management is constantly changing....lack of consistency

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Flagstar Bancorp full-time (more than a year)

    Pros

    Some 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.

    Cons

    Not enough management training
    lack of upward mobility
    focus of company seems to constantly change

    Advice to ManagementAdvice

    cross train employees, better 401K benefits needed, work on retention of quality employees.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
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  5.  

    Awesome environment and great corporate/professional environment.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Secondary Marketing - Lock Desk in Troy, MI
    Current Employee - Secondary Marketing - Lock Desk in Troy, MI

    I have been working at Flagstar Bancorp full-time (more than a year)

    Pros

    Great environment, Culture is great and the age group has a large variance across the company.

    Cons

    None that I can think of. Possibilities are endless.

    Recommends
    Positive Outlook
    Approves of CEO
  6. 1 person found this helpful  

    Unprofessional Bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Regional Manager in Detroit, MI
    Current Employee - Regional Manager in Detroit, MI

    I have been working at Flagstar Bancorp full-time (more than 5 years)

    Pros

    There are no compelling reasons to work at Flagstar Bank other than yoy receive a check every two weeks!

    Cons

    Sandro DiNello our current CEO is very phony and does not deal well with subordinate employees. He is scripted in his dealings with most employees and is only interested in his well being.

    Advice to ManagementAdvice

    Sandro, you should just sell the retail side of the bank and concentrate on the wholesale mortgage business as you have no clue how to operate a successful operation. Your competitors like Comerica, Chartwe One, TCF have class, you and your bank have none!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 1 person found this helpful  

    Stay away!

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Flagstar Bancorp

    Pros

    If you are in the right dept you can do well if you keep your mouth shut and do your job. You can learn a lot and get a better job with better pay!

    Cons

    When times are busy they will hire anyone with a pulse. Then layoff all the new hires and then some. Layoffs were not based on performance. Management was given a list of who they had to get rid of. So even if you played your cards right, never called in, were efficient at your job it didn't matter. If you were on the list from hr you had to go. You are just a number. I will never recommend this place. They are going through CEOs left and right and the newest one is doing nothing for morale. Also from a consumer standpoint their checking and savings accounts are awful compared to their competitors.

    Advice to ManagementAdvice

    Do some research with banks and mortgage companies in the area and take some tips on how to keep good employees. Lots of great companies out there and flagstar is not one of them

  8.  

    Nice people nearsighted corporate planning

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bancorp full-time (more than a year)

    Pros

    Employees are nice with a positive mentality
    Decent benefits
    401k plan offered

    Cons

    Low compensation
    No promotional value
    Company is very short sighted- tends to fix the immediate damage instead of what caused the damage in the first place, then look the other way until the situation seems impossible again

    Advice to ManagementAdvice

    Treat your employees better. Higher salary = more satisfaction with job = better quality of work. easy. Also, there's a lot of preaching about values, but management doesn't seem to adhere to said values. Management should be an example.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  9. 2 people found this helpful  

    Not the best one.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Loan Counselor in Troy, MI
    Former Employee - Loan Counselor in Troy, MI

    I worked at Flagstar Bancorp full-time (more than 3 years)

    Pros

    Relative ease to get in.

    Cons

    Low salaries,lack of promotional opportunities, broken promises.

    Advice to ManagementAdvice

    Start paying people right ! Take care of your employees !

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    Big Company, Small Mentality

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Assistant Branch Manager in West Bloomfield, MI
    Former Employee - Assistant Branch Manager in West Bloomfield, MI

    I worked at Flagstar Bancorp full-time (more than 3 years)

    Pros

    I worked with great employees. The systems for account opening were pretty straight forward.

    Cons

    Flagstar had no clue how to gain new customers. Their marketing department was defunct as we would always receive new overly complicated promotions to have to market to our existing customer base. Alot of the promotional efforts were just trail and error as corporate would submit and pull promotions literally every other week. Way too confusing and frustrating when you are required to make sales goals. They were just a large company who knew nothing of how to attract new customers. Ultimately, we suffered with the added pressure of having to deliver our numbers. Was way too stressful for that reason alone and decided to leave after I was left without a Branch Manager for 3 months with no signs of help.

    Advice to ManagementAdvice

    Hire outside professionals to help market your products. Set realistic sales goals as online banking has kept many people from even coming into the branches anymore.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11. 1 person found this helpful  

    Very unprofessional place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Bellevue, WA
    Current Employee - Anonymous Employee in Bellevue, WA

    I have been working at Flagstar Bancorp full-time (more than a year)

    Pros

    Great location - near restaurants and the transit center.

    Cons

    Management has no respect for employees.

    Advice to ManagementAdvice

    Look at who you have in management and evaluate their worth to the organization.

    The layoffs of knowledgeable employees, most of whom were with the company for many years, has not been encouraging, and has brought morale way down. It's been pretty obvious that the long-term employees have been targeted by management. No one at the company feels that they can focus on their jobs. Every day employees wonder what changes are coming today and who will lose their job next. Very unsettling and creates a work environment of fear.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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