Flagstar Bank Reviews

Updated April 19, 2015
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Employee Reviews

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  1. The work life balance is nice but the overall atmosphere is one of protecting the bottom line and saving face.

    • 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 Bank full-time (more than 5 years)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    The ability to leave work and work and enjoy a family has been nice. Work-life balance is not something you are required to sacrifice.

    Cons

    With the continued changing senior leadership in the company it has been difficult for mid-level managers to establish a consistent management method and to engage employees.

    Advice to Management

    The need for internal growth potential and employee investment is overwhelming and costing the bank in skilled hardworking employees that must leave to achieve a more promising career.

  2. The company has a high turnover rate

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

    I worked at Flagstar Bank

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    It is good to work their if you want to get quick knowledge. It is a fun work envirment

    Cons

    Don expect long-term goals with this company unless you like to work without career advancement.

    Advice to Management

    Catering to your employees determines the success of your company.

  3. Rotating Leadership, no results

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

    I worked at Flagstar Bank

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Only area bank headquartered in Michigan.

    Cons

    Where does one start. The C-Level, Sr. Leadership and Management turn style is getting warn out. Many many "top guns" hired to come in and do a job and they don't execute. And no one following up on results. New people get paid top salaries and never really provide value. This leaves all of the overworked dedicated managers to pick up the pieces once again and perform under extreme deadlines for others lack of performance.

    Advice to Management

    Read resumes better, interview better, ask for proof of results.....pay middle management and sr. team members the right amount of money before they have to leave.

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  5. Flagstar is a good company going through a lot of hard times and difficult changes

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

    I worked at Flagstar Bank

    Recommends
    Neutral Outlook
    Disapproves of CEO
    Recommends
    Neutral Outlook
    Disapproves of CEO

    Pros

    Flagstar believes in constant improvement and there are lots of different areas to experience if you have other interests.

    Cons

    There is a lot of red tape and inconsistent structure

    Advice to Management

    Work with the other departments rather than competing against them.

  6. Helpful (1)

    Exciting rapid pace of change with a great company!

    • 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 Bank full-time (more than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    A great work enviornment with some of the most knowledgable, experienced, and hardworking people in their fields. Team work is off the charts. The rapid pace of change and being at a company who is at the top of their industry is exciting. While a lot of the senior management has changed all the existing and new management are committed and very accessable. The culture is evolving and there seems to be committment from the top to continue improving it. Ability to provide feedback and see change is great. The corporate committment to grow and expand each business line provides a lot of opportunity. Employee recognition and development continues to grow. Employee perks for financial services is great. Really appreciate the work/life balance.

    Cons

    Past poor financial history and management has made it difficult to change the culture as this takes time. It continues to improve each day.

    Advice to Management

    Continue to build the culture and invest in development and accountability of employees. Further investment in technology internal and external.

  7. Good company to work for during a difficult period for banks.

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

    I worked at Flagstar Bank

    Pros

    Exceptional work/life balance and culture.

    Cons

    Limited opportunities for upward progression.

  8. Part Time FSR

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bank

    Pros

    Great people, good job while in school

    Cons

    Some customers can be rude.

  9. Rocky Ride

    • 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 Bank

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    The company has benefits including healthcare, vision, dental, and life insurance.

    The company observes 11 holidays with pay, and now offers one paid community involvement day to participate in volunteer activities the company supports.

    The work environment is such that folks do work hard to solve problems and accomplish objectives at the individual level, department level, and organizational level.

    Cons

    The leadership turnover is crazy, which produces a whiplash affect on the employment base due to new directions, new processes, and new ideas of how they want things done.

    The out of pocket costs for premiums, co-pays, and co-insurnace are higher here compared to other employers I've worked for at the same level of coverage. This could be due to higher costs of healthcare overall, and/or due to the financial stability of the company.

    The payscales are published which show huge six-figure salaries, but good luck in ever really getting ahead via promotion or via substantive merit increases.

    The full time employee headcount is fixed which means new positions which could pay more cannot be created to allow promotions within, and the promotion opportunities that do exist are most often filled from the outside.

    The company lacks a 360 performance review of management to allow feedback on how they are performing, so your boss can get away with behavior that her/his boss doesn't even know about.

    Despite huge layoffs leaving only the best employees, the company has decided to make those who remain feel even worse about their individual performance by limiting the % of people who can get "outstanding" and "above average" performance ratings, and wants most everyone to be in the "meets" performance goals rating to pay little to nothing for our contributions.

    Advice to Management

    Communicate more often about the direction of the company, our progress and challenges to overcome.

    Improve compensation for non-commissioned staff. People work for money - just like you. The more you pay, the more we want to work hard to get ahead too.

    Increase the paid time off. The amount of PTO is low.

  10. Business Client Service

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

    I worked at Flagstar Bank

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Paycheck every two week
    37.5 work week (pro and con)

    Cons

    Hours changed weekly
    No incentive programs
    No OT
    Progression to other departments nonexistent

  11. Helpful (1)

    Abusive Environment

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

    I worked at Flagstar Bank

    Doesn't Recommend
    Approves of CEO
    Doesn't Recommend
    Approves of CEO

    Pros

    I loved what I was doing and my customers but I had to quit because it was way too stressful working for a manager who was abusive towards employees in Orion. Many quit before and after I did and she is still there? This is the problem at Flagstar.

    Cons

    Terrible hours at branches. Dangerous environment. Locking a person in a branch by them selves after everyone had left for the day so they can run the drive thru a little longer and exit building by themselves!

    Advice to Management

    Don't leave people in positions because they are hitting their goals where employees are constantly leaving a location because of them. This is brining the company down. Don't value goals over good employees.

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