Washington Mutual Reviews

Pros

Good pay, benefits, culture. Support in-house promotion vs. outside hiring unless. Excellent stock options and benefits made this a good place to work.

Cons

Failure to see that risky lending practices and a greed for money took over vs. doing the right thing for the customer and the employees ended in the Bank failing.

Advice to Senior Management

I think the Bank could have remained a strong and solid Bank if it wasn't for the loosing of lending guidlines and a "race to the bottom" to approve any and all loan applications. Housing prices, borrow incomes, and FICO scores, are always a snap shot in time---and while that is how all loans are u/w placing more conservative guidelines could have made all the difference!

Pros

They were growing extensively, lot of new product and new market. Employees were recognized for their performance and hard work.

Cons

Sometimes there was too much red tape to get things done. There could have been more training in some areas.

Advice to Senior Management

The company was bought by Chase and they have changed how the products are offered to different markets, and even the look of the financial centers.

Pros

Good work/life balance, employees treated fairly, good company values, nice culture.

Cons

Acquired by another bank, therefore most were laid off if they did not have a similar opening at the bank that acquired it.

Pros

There were plenty of opportunities for growth, both personally and professionally, the culture was outstanding, the employees were treated with respect and were appreciated.

Cons

Salary is always going to be an issue. Promotional opportunities were plentiful but the salary increases for internal employees were limited.

Advice to Senior Management

Challenge overall company initiatives to get a full understanding of the benefits not just for the company but for the employees as well.

Pros

potential growth opportunity and compassionate workers. work and life balance are great. management cares for you and will be there.

Cons

sometmes there are too much politics in play and management don't provide expertise. driven and eager to meet bench goals.

Advice to Senior Management

continue the work life balance and talent programs that allow people to excel at their position and train people better.

Pros

Good upward mobility, above average compensation, professional yet fun environment. Washington Mutual was a company that respected and rewarded the work of its employees.

Cons

Emphasis on diversity sometimes seemed to trump professional qualifications. The company was a bit to political polar for my taste. And it was apparently too appetizing for Jamie Dimon.

Advice to Senior Management

Don't trust the Federal Reserve, Treasury Department, FDIC, or Office of Thrift Supervision. This was a good company and a lot of good people lost their shirts. Obviously, some closed-door meetings and palm greasing led to the fire sale for pennies on the dollar.

Pros

rewarded for hard work, ability to promote within the company

Cons

they went out of business

Advice to Senior Management

should have focused more on the branches instead of home loans

Pros

Easy to work with company with good management and a solid corporate environment that like to have fun

Cons

Now they are out of business

Pros

Many opportunities for women to advance

Cons

No longer in existence due to bank closure

Advice to Senior Management

communicate

Pros

Autonomy to get things done.

Cons

Company closed by FDIC and purchased by JPMC.