Flagstar Bancorp

  www.flagstar.com
  www.flagstar.com

Flagstar Bancorp Reviews

Updated November 6, 2014
Updated November 6, 2014
140 Reviews
2.5
140 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Flagstar Bancorp President & CEO Alessandro P. DiNello
Alessandro P. DiNello
45 Ratings

Review Highlights

Pros
  • Some good people who mean well, but quality leadership is sorely lacking (in 7 reviews)

  • Competitive pay, normal hours, good benefits, good PTO, opportunity to move up (in 5 reviews)


Cons
  • And often changes in upper management in the last 3 or 4 years (in 7 reviews)

  • Flagstar has little room for advancement (in 4 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Wasted Time

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Service Representative in Farmington Hills, MI
    Current Employee - Financial Service Representative in Farmington Hills, MI

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

    Pros

    It's a job that pays something

    Cons

    Salary, Benefits, no time off, work hours

    Advice to ManagementAdvice

    Promote the people that actually work hard and not just the kiss-ups.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2.  

    Current Employee.

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

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

    Pros

    Nice people, Good working conditions, great hours, great benefits

    Cons

    Very low pay, not much room for advancement, work quota's that can be hard to reach, error ratios that are hard to stay below. Many Departments being closed and outsourced. Overtime is almost impossible to get.

    Advice to ManagementAdvice

    Stop outsourcing your business and laying off employees. The employees you have now have experience in your company and could help you with your new vision if you let us. Increase the pay and give hard working current employees a chance to get into management positions.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3.  

    Good experience

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

    I worked at Flagstar Bancorp full-time (more than 5 years)

    Pros

    Team building experiences encouraged
    Management wants ideas of ways to improve processes

    Cons

    Many changes in the last years leads to feelings of uncertainty in departments
    Low salary range for positions in comparison to market

    Recommends
    Negative Outlook
    Approves of CEO
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  5.  

    Employees as commodity

    • 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 an year)

    Pros

    Let's see...commute was reasonable. Co-workers were nice folks, considering indentured servitude nature of the place. That's about it.

    Cons

    Top 5
    1. Radically excessive production goals.
    2. Low pay to start with, absurdly low considering # hours necessary to meet goals.
    3. Unclear delineation of responsibility (assistant level staff should have done more).
    4. Incomprehensible management configuration.
    5. Sloggy computers.

    Advice to ManagementAdvice

    Consider relying more on contract employees. Invest in training assistant level staff. Clarify management structure & underwriting standards to eliminate brokers shotgunning for the answer they want. Have IT install more RAM in office computers, or whatever is needed to make the computers more responsive.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  6. 1 person found this helpful  

    Flagstar Review

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

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

    Pros

    Good people; knowledgeable resources; average pay range for position

    Cons

    Due to recent leadership change the bank seems to be in a downsizing mode. Future for many there is uncertain at this time

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7.  

    Open accounts and provide customer service.

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Flagstar Bancorp

    Pros

    They customers seem to be fairly loyal

    Cons

    There is little room for advancement and the leadership is constantly changing goals.

    Advice to ManagementAdvice

    Develop a better training program for banking staff.

    Recommends
    Neutral Outlook
  8.  

    awesome

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Teller in Grand Rapids, MI
    Current Employee - Teller in Grand Rapids, MI

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

    Pros

    this company has awesome pay

    Cons

    i have absolutely nothing bad to say

    Advice to ManagementAdvice

    continue to make the workplace an awesome place

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Poorly Managed Company

    Former Employee - Anonymous Employee in Troy, MI
    Former Employee - Anonymous Employee in Troy, MI

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

    Pros

    It bought me some time for my next career move.

    Cons

    Too many to list here. It's a good idea for interested persons to find out for themselves.

  10.  

    Great People, Not So Great Internal Coordination/Communication

    • 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

    Pros

    There are many good people that do a lot for their community and genuinely care for others, especially customers and coworkers.

    Cons

    Departments are like nuclear missile silos, especially the large generic departments like marketing. They either don't think to communicate and share info, or they don't want to. At times it is like 100 little companies, instead of 1. The officers club also exists like the military in the 1950's. Non-Officers don't communicate with officers outside their direct reports.

    Advice to ManagementAdvice

    Force your employees to share information across teams and titles. Job titles are just a function, not a symbol or culture of your status.

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    Good stuff

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

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

    Pros

    Great company, reputable corpoation that is good

    Cons

    none that I can think of

    Advice to ManagementAdvice

    none that i can think of

    Recommends
    Positive Outlook
    Approves of CEO

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