IndyMac Bancorp
2.9 of 5 44 reviews
www.indymacbank.com Pasadena, CA 500 to 999 Employees

IndyMac Bancorp Reviews

Updated Jul 1, 2014

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2.9 44 reviews

                             

50% Approve of the CEO

IndyMac Bancorp CEO John F. Bovenzi

John F. Bovenzi

(8 ratings)

36% of employees recommend this company to a friend
44 Employee Reviews
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    Avoid like the Plague!!!

    Anonymous Employee (Current Employee)

    ProsIndyMac Bancorp is now OneWest Bank. There have been some good changes made such as management. I guess they realize what they were doing wasn't working and needed to do something different.

    ConsWhere do I begin? The environment was so toxic there - talk about watching your back! The managers there are some of the wost I've ever encountered. Please keep in mind that these managers are still there so watch out!

    Advice to Senior ManagementChange everything that you did as Indy Mac to something else. Some of you should consider firing yourselves. Change is necessary.

    No, I would not recommend this company to a friend

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    Senior Analyst.

    Senior Financial Analyst (Former Employee)
    Irvine, CA

    ProsThe going was good only during the good time. When the going was bad, it was bad.

    ConsNo future, especially when the FDIC took over the company.

    Advice to Senior ManagementListen to the line workers, customers, all people who is linked to the company for improvement ... and try to incorporate suggested improvements.

    No, I would not recommend this company to a friend

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    IndyMac - Easy but very average

    Senior Customer Service Representative (Current Employee)

    ProsIndyMac is a very laid back place to work. Your fellow employees will be a joy to work with but the pay is on the lower end. It is easy to get comfotable here, but at some point while working here you will realize that you have not progressed much or gained news skills that will make you competitive in the job market. If you are satisified with your pay and title, it is a good place to be. If you are looking to grow as an employee and climb the ladder, DONT WORK HERE

    Conslow pay and limitied upward mobility

    Advice to Senior Managementcreate programs to develop and promote employees. Give better bonuses

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    OK Experience, but a lot of initiative taken upon yourself for personal growth in your career

    Senior Programmer Analyst (Former Employee)
    Pasadena, CA

    ProsIn terms of IT, the best reason to work there is the numerous resources that is afforded for the company.

    ConsThe downside is the excessive specialization of every department. So, it is tough for a person to personally understand how to create an enterprise system.

    Advice to Senior ManagementReevaluate the value of every employee. See if more involvement can lead to better growth in the company.

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    Looking for a chill part time job while gaining skills for the future?

    Customer Service Representative (Current Employee)

    ProsThey have fairly easy bonuses, and its a really chill job. You do learn professional skills that are necessary for any office position. If you wish to continue in the banking industry this job also teaches you about important information on IRA's, CD's and FDIC.

    ConsThere really is not much opportunity to move up, or to get a raise.

    Advice to Senior ManagementA more organized training process is much needed.

    Yes, I would recommend this company to a friend

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    Overworked and underpaid

    IT Specialist (Former Employee)
    Pasadena, CA

    ProsIt's a good place to start off your career. The managers in our department are great with letting us take time off. Easy job. Great HQ location

    ConsOverworked employees, health benefits, PTO accural, not big bonuses, no OT available, no training

    Advice to Senior ManagementTry to change culture of a company. Try to compensate emplyoees more with what they are worth.

    Yes, I would recommend this company to a friend

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    don't bother applying unless you've applied everywhere else first and are really desperate for a job

    Loan Consultant (Former Employee)
    Irvine, CA

    ProsIf you couldn't find a job anywhere else

    ConsSenior management has no idea how to run a company and doesn't begin to know what employees need. Management constantly talks down to the employees and calls them "Professionals" while treating them like children.

    Advice to Senior ManagementThere's so much potential at this company and it's all being wasted. Speak to the employees that are on the front lines and stop making decisions based on experience that has no relevance in this market. Your support personnel are being paid more than your sales people who are starving with their antiquated 100% commission pay plans. You can't expect anyone to earn a living based on pay plans created during the boom. You can't expect good talent to stick around when you treat them like children and don't give them the opportunity to produce and earn a living.

    No, I would not recommend this company to a friend

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    Indymac -- some managers are good but senior management sucks

    Helpdesk Support (Former Employee)
    Pasadena, CA

    ProsI got a lot of positive feedback from my immediate supervisors when I was there. All of my immediate supervisors were supportive. One even helped me get a different position within the company when senior management terminated the position that I was in.

    ConsCompany was in serious trouble when I was there. You go to work and never know when your last day is going to be. Any day you can be fired, even if you are doing a great job. I almost got laid off twice. The first time, I got an email on Wednesday informing me that I wouldn't have a job come Monday. So in other words, I had two days to find a new job. Another time I narrowly avoided being laid off - - my immediate manager told found out through the rumour mill that senior management was looking for reductions in my department so I found a job two weeks before I was scheduled to be terminated.

    Advice to Senior ManagementStop dealing with these stupid subprime loans.

    No, I would not recommend this company to a friend

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    not a good company

    Senior Financial Analyst (Former Employee)
    Pasadena, CA

    Proscloser to home, near metrolink

    Consthe company is cheap in term of salary, benefits such as 401k, parking fees, profit sharing and raise
    the company is obsessed with performance evaluation, and tests given to new hires

    Advice to Senior ManagementI left the company in April. The management was definitely undesirable. A great company does not need to be stingy about parking, benefits and excessive employee performance evaluation

    No, I would not recommend this company to a friend

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    Review for Indymac Bank

    Anonymous Employee (Current Employee)

    Pros1) Higher salary than other banks in the industry;
    2) Three weeks of vacation days (Assistant Vice President and above);
    3) Excellent benefits (medical, dental, vision, 401K, etc.);
    4) Nice facility; great location.
    5) Some managers promote work/life balance
    6) CEO and some senior executives updates employees on company news/status constantly.

    Cons1) Some managers lack relevant work experience and have very poor leadership skills;
    2) There are lots of politics in the office;
    3) Lack of career progression;
    4) Too frequent changes to the corporate structure;
    5) Employee morales are low;
    6) Some internal departments (e.g. IT Helpdesk) are not working very efficiently

    Advice to Senior Managementsee answers above

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Glassdoor is your free inside look at IndyMac Bancorp reviews and ratings — including employee satisfaction and approval rating for IndyMac Bancorp CEO John F. Bovenzi. All 44 reviews posted anonymously by IndyMac Bancorp employees.