Flagstar Bank Reviews

Updated July 1, 2015
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169 Employee Reviews

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  1. Awesome environment and great corporate/professional environment.

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

    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

    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.


  2. Helpful (2)

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

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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.


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

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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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  5. Helpful (3)

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

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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 Bank full-time (More than 8 years)

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

    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 Management

    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.


  6. Helpful (1)

    Big Mistake ...

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

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

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

    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 Management

    Sell the Bank.


  7. Helpful (1)

    I've actually heard from someone that 'We work for peanuts...'

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

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

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    Everyone is pretty much friendly and tend to work and get along together quite often in my experience.

    Cons

    There are areas or departments where employees are quite under paid and takes long periods of time for small monetary increase , but management always expect for constant hard work and dedication.


  8. Helpful (1)

    Unprofessional Bank

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

    I have been working at Flagstar Bank full-time (More than 5 years)

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

    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 Management

    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!


  9. Helpful (2)

    Not the best one.

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

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

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

    Pros

    Relative ease to get in.

    Cons

    Low salaries,lack of promotional opportunities, broken promises.

    Advice to Management

    Start paying people right ! Take care of your employees !


  10. Helpful (1)

    Big Company, Small Mentality

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

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

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

    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 Management

    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.


  11. Helpful (1)

    Stay away!

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Flagstar Bank

    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 Management

    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



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