Washington Mutual Reviews

Pros

Wamu was a great place to work. It had caring people, fair compensation and a good benefits package. The work felt important to the local economy and was interesting.

Cons

They are only located downtown Seattle. There was no Eastside presence. IT was not seen as a strategic focus of the company.

Advice to Senior Management

Focus on the big picture. When looking at ROI take into consideration the intagibles. Employee's are the core of the business.

Pros

Good compensation structure, reasonable benefits package, convenient location in the heart of downtown. Interesting work with many smart and enjoyable people.

Cons

Overly bureaucratic IT governance, too frequently process rather than results oriented. Cumbersome decision making culture. Largest bank failure in history.

Advice to Senior Management

It's probably a little bit late for any advice to senior leadership, unless the advice comes along with a time machine.

Pros

my experience with Wamu was great. I had a good manager who believed in me and the work I did, and who was also a very dedicted and hard working manager. Benefits were excellent and pay was comparable.

Cons

the obvious is that the high level execs were doing things that were not in the best interest of the company. I would say that lack of communication was the most frustrating thing about the place.

Advice to Senior Management

since it is now Chase, I don't have any advice for them, because they are clearly NOT Wamu. Some may see this as good, but there are lot of us out there who only see this as sad and very wrong.

Pros

Good salaries and growth opportunity, many technology opportunities for growth and career enhancement. Fantastic down town location

Cons

Short term profit mentality, follow the pack rather then lead it. This resulted from a influx of senior professional bankers

Advice to Senior Management

Too late now to give advice, but common sense was forgotten and we all paid the price

Pros

I moved from Microsoft to WaMu. The pace was slower, but for me there were more chances for advancement.

Cons

The economy and some poor strategic decisions caused the firm to be handed to JP MOrgan Chase by the FDIC. Chase is a much less capable organization overall.

Advice to Senior Management

No advice. WaMu is no longer independent company. JP Morgan Chase has now completed its incorporation of WaMu. Too bad.

Pros

Great communication from upper level management.
Care for the employee

Cons

bad strategic decision made by upper management

Advice to Senior Management

Only if they can do it over again to survive the financial melt down.
Better transition management during the conversion to chase.

Pros

Feeling like being on a winning team.
Some areas had a very entrepreneurial culture.
Rewards were commensurate with hard work.

Cons

The decision to outsource: it took a while for senior mgt to learn that some tasks are appropriate for outsourcing and others are not.

Advice to Senior Management

In the IT area, work to get more input from the individual contributors.
Develop a succession plan for senior managers.

Pros

Opportunities for advancement provided and encouraged. When ideas for improvement were identified by employees management supported efforts to implement them if the right justifications were provided.

Cons

Large company many different channels, increases inconsistencies between departments and lines of business. Resistance from some lines of business to implement best practices unless required by executive management.

Advice to Senior Management

The company was acquired by the FDIC during a series of events. Unfortunately Executive management did not work to sell the company sooner.

Pros

You are working for a "brand name" bank and the benefit package is good. The company also provides good insurances.

Cons

The salary is much lower than the industry standard. Some of the developing area do not have enough support from the top.

Advice to Senior Management

It is hard to move upward inside of the company and you are required to move if you want a chance for advancement.

Pros

Great flexibility prior to 2006. Before the company collapsed it was very customer focused and driven. Then it turned into how much can we weasel out of each customer.

Cons

Bad Pay, Managers did not care about employees' needs. FOcus was how many hours they could get out of you every week. They force you to work overtime, while managers spend at least one week a month on vacations. Sales goals were unreasonable, and bonuses were only based on specific sales.

Advice to Senior Management

Lighten up. Your most valuable assets are your employees. IF you do not treat them right you will not survive. You stink and need to wise up or you will fail. Trust those who are intelligent.