Flagstar Bank Reviews

Updated April 19, 2015
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Employee Reviews

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  1. Don't trust em!

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

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

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

    Pros

    Nice office setting, and working with people that are pretty cool. The pay is competitive and hard to come by. Breaks and lunches can be taken when the worker wants in most departments.

    Cons

    Layoffs, and outsourcing- provides no stability- No telling if you are on the chopping block!

    Advice to Management

    Change the slogan if jobs are being outsourced to Texas! It's no longer "In Michigan and for Michigan"- and stop lying to customers- Flagstar is not taking the calls or servicing the loans.

  2. Lots of excellent people to work with. Unfortunately the company was very unorganized which could be difficult.

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

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

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

    Pros

    Lots of excellent people to work for and a reasonable pay. There was pressure to get things done but management was understanding. They were also pretty flexible, I was also a college student at the time and they allowed me to leave early on multiple occasions to study and make it up later.

    Cons

    I had a difficult time growing there because there seemed to be lacking room for growth.

    Advice to Management

    Organize the company and create a corporate culture that encourages learning and personal growth

  3. Helpful (1)

    Worst place to work for

    • 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 Bank full-time (More than a year)

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

    Pros

    The commute wasn't bad at all

    Cons

    Everything; but especially senior management!

    Advice to Management

    Listen to your employees.

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  5. Helpful (1)

    Many futile attempts to get back on course...

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

    I have been working at Flagstar Bank full-time (More than 10 years)

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

    Pros

    The 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.

    Cons

    Many 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 Management

    Middle 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.

  6. Helpful (1)

    For the most part, the experience was good especially in the beginning.

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bank

    Pros

    There was an increased emphasis in training and it's good to be exposed to some training that doesn't necessarily involve your job.

    Cons

    There 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 Management

    Involve everyone so they feel part of the process.

  7. A mishmash of slop

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

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

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

    Pros

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

    Cons

    Takes 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 Management

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

  8. Underwriter

    • 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

    Nice supervisors and regional managers

    Cons

    Upper management give very poor career advise and are ungrateful.

  9. interesting

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

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

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

    Pros

    balance and time off was good

    Cons

    too many changes in cfo, ceo

    Advice to Management

    Stop changing executive management

  10. Helpful (2)

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

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

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

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

    Pros

    A paycheck is about it.

    Cons

    Managers 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 Management

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

  11. The higher the skirt, the higher the promotion!

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

    I worked at Flagstar Bank full-time (More than 8 years)

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

    Pros

    There are a lot of good people, but also a lot of fake people. Be careful!

    Cons

    The fake and disingenuous people get the promotions. From hidden job postings to job postings that are only up for a few hours, even HR is in on the act. For every awesome person working hard, there are two lying and cheating to become the boss's favorite.

    Advice to Management

    Cut the crap. Require EVERY single job to be posted for at least 14 days and make sure everyone in the department knows so the best candidate can be found. Be honest with your employees and quit back door dealings that screw other people over.

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