Flagstar Bank Reviews

Updated August 28, 2015
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Flagstar Bank President & CEO Alessandro P. DiNello
Alessandro P. DiNello
10 Ratings

Pros
  • There are a lot of good people, but also a lot of fake people (in 7 reviews)

  • clean work environment, no clock punch, managers are nice (in 5 reviews)

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

  • There is little room for advancement and the leadership is constantly changing goals (in 4 reviews)

More Pros and Cons

26 Employee Reviews

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  1. Helpful (1)

    Get to work with newer technology

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Software Developer in Troy, MI
    Current Employee - Software Developer in Troy, MI
    Recommends
    No opinion of CEO

    Pros

    Willingness to move onto new technologies, REST SOA type approaches. Independence and autonomy can be nice, so long as you get good work done in the end.

    Cons

    Management Change-Over a couple of years ago, and being owned by venture capitalist means a sale of the bank to a bigger bank is likely and the inevitable shakeup that will cause has caused a brain drain of experienced knowledgeable employees, this can be viewed as more opportunity for new people joining the organization to fill such openings.

    Advice to Management

    Try and capitalize on the unique aspects of Flagstar, make sure those unique aspects are not crushed as we try and move into other areas. The concern is we will be just like all other banks, differentiated in the marketplace. Keep up with the superior customer service.


  2. Helpful (1)

    Started better than it ended

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Retail Banking Assistant in Ann Arbor, MI
    Former Employee - Senior Retail Banking Assistant in Ann Arbor, MI
    Recommends
    No opinion of CEO

    Pros

    It is a very employee-focused company, with many events designed to help decrease employee stress levels and to give them a reason to come to work. We had National Pancake Day, where we were greeted with pancakes, sausage and orange juice for breakfast. This company has subscribed to the "Fish Philosophy" and a "Get on the Bus" iniative and recognizes those who do a good job, sometimes even a handwritten note from one of the higer ups. It employs a majority of females, due to the industry, so it's a nice break from any male-dominated industry.

    Cons

    Due to the economic problems, the bank has suffered, recently selling its branches in Indiana and Georgia. There are not many options to move up in the company, (at least until the economy recovers fully) as positions have also been eliminated.

    Advice to Management

    Don't lose that employee relationship aspect, no matter how bad things get. Make sure they all know that you are in it together, because it is so hard for tellers to relate to upper management.


  3. Helpful (1)

    needed more real training

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Representative in Canton, MI
    Former Employee - Customer Service Representative in Canton, MI
    Recommends
    No opinion of CEO

    Pros

    ability to move up, do work as a teller and personal banker, provided two weeks of training (though it didn't seem like enough when I actually got to work. Provided a mentor for your first few weeks. (could have been better if the person was much more friendlier and willing to work)

    Cons

    Much lower pay than my old job as a teller at a bank with 3 times the amont of work, no benefits, no vacation days. Training didn't apply to real situations. Computer system was way back in time. I came from Chase Bank and they were very up on their technology, training, pay, and benefits.


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  5. Ok employer

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Service Representative in Troy, MI
    Current Employee - Customer Service Representative in Troy, MI
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Flagstar Bank full-time (More than a year)

    Pros

    Decent pay and benefits. Interest-bearing employee checking account. Great people!

    Cons

    Little room for upward mobility. I worked for 2.5 years, was always praised as being the best customer service representative and always chosen to accept additional responsibility, yet when the opportunity for promotions came up, someone with less experience and education was always selected.

    Advice to Management

    Create more opportunities for upward mobility. Realize that you have a wealth of knowledge and talent in-house.


  6. Flagstar bank

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Service Representative in Atlanta, GA
    Former Employee - Financial Service Representative in Atlanta, GA
    Recommends
    Approves of CEO

    I worked at Flagstar Bank full-time (More than a year)

    Pros

    Great schedule, 3 week vacation

    Cons

    pay, responsibilities, little advancement, Cash handling

    Advice to Management

    nothing


  7. Good leapfrog company, poor structure

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Loan Analyst in Troy, MI
    Current Employee - Loan Analyst in Troy, MI
    Recommends
    Neutral Outlook
    Disapproves of CEO

    I have been working at Flagstar Bank full-time (More than a year)

    Pros

    Competitive pay, normal hours, good benefits, good PTO, opportunity to move up

    Cons

    HR is VERY slow processing promotions, 5+ years before PTO increase or promotion, poor executive management structure ("reorganizations" are very common. Ive been hear 14 months and already 3 reorgs in my department)

    Advice to Management

    Pay UW's and lower level managers better because you are losing them to competitors, provide a better promotion from within plan.


  8. Decent company to work for.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Service Support in Troy, MI
    Current Employee - Customer Service Support in Troy, MI
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Flagstar Bank full-time (More than 3 years)

    Pros

    There is a friendly and positive atmosphere in the department where I work. People work well together and management is fair and supportive of employees.

    Cons

    Company is still working to overcome challenges of the down economy. Customer service agents present less than professional front to customers. Proper grammar should be a minimum requirement for agents. Frustrating that all employees, including salaried, are required to punch a time clock.

    Advice to Management

    Improve customer experience by hiring higher quality customer service agents to begin with and then take a look at training, especially servicing new hire.


  9. flagstar bank the bank of MI

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Capital Markets Associate in Bellevue, WA
    Current Employee - Capital Markets Associate in Bellevue, WA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Flagstar Bank full-time (More than a year)

    Pros

    Benefits / Hours / PTo /Vacation

    Cons

    Pay / advancement / na / na

    Advice to Management

    na


  10. Great people

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Buissness Operations in Troy, MI
    Former Employee - Buissness Operations in Troy, MI
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Flagstar Bank full-time (More than 3 years)

    Pros

    The staff at this banking institution are amazing individuals.

    Cons

    Middle Managment is non-exhisting and under appreciated by upper Managment.

    Advice to Management

    Start assigning tasks to groups and instill a degree of accountability across functional areas.


  11. Good place to work...not great

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Service Representative in Lansing, MI
    Former Employee - Financial Service Representative in Lansing, MI
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Flagstar Bank full-time (Less than a year)

    Pros

    Great hours...Sundays off and paid holidays. Easy to maintain life outside of work. Friendly environment. Enjoyed my coworkers.

    Cons

    Work is a bit redundant and dull at times



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