IndyMac Bancorp

  www.indymacbank.com
  www.indymacbank.com

IndyMac Bancorp Reviews

Updated July 1, 2014
Updated July 1, 2014
44 Reviews
3.0
44 Reviews
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Approve of CEO
IndyMac Bancorp CEO John F. Bovenzi
John F. Bovenzi
8 Ratings

Employee Reviews

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  1. 1 person found this helpful  

    Stay away

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Underwriter in Philadelphia, PA
    Former Employee - Underwriter in Philadelphia, PA

    I worked at IndyMac Bancorp

    Pros

    Employees were great, compensation was great, also the benefits.

    Cons

    The stress level. The responsibility and the over work, they had a three tier system, red green and yellow. If you were in the yellow twice you lost your job. Let up on the stress, too much time and attention was focused on lists and reports not enough timeon moral and spirit. Not enough out the box thinking.

    Advice to ManagementAdvice

    Let up on the stress, too much time and attention was focused on lists and reports not enough timeon moral and spirit. Not enough out the box thinking.

    Doesn't Recommend
    Disapproves of CEO
  2. 1 person found this helpful  

    Don't work here!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Marketing Manager in Pasadena, CA
    Former Employee - Marketing Manager in Pasadena, CA

    I worked at IndyMac Bancorp

    Pros

    You really can't unless you're willing to work for lower wages/salary on the retail side of the bank. The rest of the firm has been shut down. When the bank was profitable, work was steady and everyone thought their boring, unchallenging jobs were secure.

    Cons

    Performance reviews are not merit based. It depends on how much you're able to brown-nose, be a yes-person, and backstab other people in the company so that you look like you're ahead of the crowd. They were also ranked against everyone in your job class. If you were an analyst, part of your review ranked you against all the analysts of your job grade regardless of what department you were in. Hours are longer for single, childless workers than they are for married parents. Have you ever stayed late to finish your boss' project because your boss had to take her daughter to non-school extracurricular activity like mother-daughter night, bowling, or bingo? The more incompetent you are at your job, the more likely you'll get promoted to VP status. The people who got laid off in July were told they were being laid off by conference call. How callous is that?

    Advice to ManagementAdvice

    Haha, except for MP everyone else resigned, gave notice, or got laid off. I'd say that for the new management team, don't let your profits or business plan be undermined by letting sales leadership take control of the entire organization.

    Doesn't Recommend
    No opinion of CEO
  3. 1 person found this helpful  

    Good place if you like to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Manager - X in Pasadena, CA
    Former Employee - Manager - X in Pasadena, CA

    I worked at IndyMac Bancorp

    Pros

    Everybody wants to get things done
    Your work is important
    Relatively less bureaucracy given how large the place is
    Relatively less politics because most people are competent
    Senior management does not treat you like an idiot who needs to be surrounded by cheerleaders. They give you intellectually honest answers and opinions

    Cons

    First two or three years will be rough, till you and the company kind of settle down.
    A lot of people leave within a year or six months
    Work pressure will be high
    Not much structure and process sometimes - can be frustrating depending on your personality type

    Advice to ManagementAdvice

    Try have fewer reorgs - so that the accountability is established and consistent. Too often important projects or initiatives fail or stall because of org changes.

    Recommends
    Approves of CEO
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  5.  

    IMB - Amidst the turmoil you couldn't find a better company to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Sales Manager
    Current Employee - Sales Manager

    I have been working at IndyMac Bancorp

    Pros

    The atmosphere at IndyMac is unbelievable. A National Mortgage Lender and most days at work feel like you are working for a family owned company. In my 4 years with the company I have had direct salary/compensation increases almost every 8 months. The word meritocracy rings true in my career here. I have brought in several close friends who have had similar growth experiences. There are many opportunities to excel within IndyMac, even in our darkest days.

    Cons

    We are in a downturned mortgage environment and with that comes the pains of downsizing and adjusting to the new business models.

    Advice to ManagementAdvice

    Don't knee-jerk policies and procedures based on what's happening today. Step back, take a moment and make a smart plan.

    Recommends
    Approves of CEO
  6.  

    Great

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at IndyMac Bancorp

    Pros

    Great work, amazing co-workers - had a great time working for Indymac Bank

    Cons

    None to say at this moment

  7.  

    CAUGHT UP IN THE MOMENT

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

    I worked at IndyMac Bancorp full-time (more than 3 years)

    Pros

    Management accessible and cared about work/life balance. Compensation competitive within the industry with exciting projects if one is IT focused.

    Cons

    Bank failed due to senior management focus on aggressive revenue and origination competition with competitors such as Washington Mutual, Countrywide, etc., and commensurate focus on alt-A mortgages (even though IndyMac was originally a spinoff of Countrywide).

    Consequently credit quality and liquidity were impacted when the securitization pipeline contracted leading to IndyMac becoming a prime target for the regulators, which in turn lead to a conservatorship by the FDIC.

    Advice to ManagementAdvice

    they are no longer employed by the successor institution - One West

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8.  

    horrible

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

    I worked at IndyMac Bancorp

    Pros

    decent office location, fairly good health benefits

    Cons

    low pay, horrible managers, incompetent managers, low morale

    Doesn't Recommend
    No opinion of CEO
  9.  

    good job

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at IndyMac Bancorp

    Pros

    management easy, great work/life balance

    Cons

    salary wasn't that high that i expected

    Recommends
    Approves of CEO
  10.  

    No can do

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Customer Service Representative
    Current Employee - Customer Service Representative

    I have been working at IndyMac Bancorp

    Pros

    the company provided good health benefits. The company gave outstanding goal options and montly incentives. Branches are very classy and geared to certain class of cliants.

    Cons

    The company is very ungoranized when it comes to operations. The main banking platform is not very friendly. Sudden unexpected changes.

    Advice to ManagementAdvice

    For banking operations, need improvement in organization on policey and procedure. Need to put overall throughout the company sales driven comptition.

    Recommends
    No opinion of CEO
  11.  

    CSR II

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

    I worked at IndyMac Bancorp

    Pros

    Great working hours and bonus incentive structure

    Cons

    N/A - No longer in business

    Advice to ManagementAdvice

    N/A - No longer in business

    Doesn't Recommend
    No opinion of CEO

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