Washington Mutual Reviews

Updated July 6, 2015
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Washington Mutual Chairman & CEO JP Morgan Chase James Dimon
James Dimon
7 Ratings

Pros
  • Great people, true team environment, challenging work, fair compensation, perfect work/life balance (in 41 reviews)

  • Great place for those who enjoy being challenged and surpassing expectations (in 14 reviews)

Cons
  • The assistants worked like dogs with very little praise, loan officers got all of the glory (in 13 reviews)

  • Too much risk in the subprime lending (in 8 reviews)

More Pros and Cons

70 Employee Reviews

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  1. it was fine

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook

    I worked at Washington Mutual full-time

    Pros

    i suppose it was fine working there. I didn't really mind it. It was in downtown seattle, which was convenient and very, very easy to get to by bus.

    Cons

    They shut down the doors and kicked everyone out in to the streets. That was not good. That really, really, really, really sucked.

    Advice to Management

    Maybe try to not go bankrupt. And don't lie to employees. That should really be frowned on and make a bad thing to do for everyone.


  2. Dysfunctional company, no longer around

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Since the level of performance was low, gave plenty of experience improving processes.

    Cons

    Low growth opportunity, little trust of management, very poor salary practices for long time employees, impossible to adjust salaries of loyal employees when new employees in the same position were hired on at 25% or more higher salaries.


  3. Overwhelming Work Expectations

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Consultant in Desert Hot Springs, CA
    Former Employee - Financial Consultant in Desert Hot Springs, CA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Washington Mutual full-time (Less than a year)

    Pros

    Lots of bank holidays which means time off

    Cons

    Product and Service lines are too narrow in scope.

    Advice to Management

    Listen to your staff.


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Branch Loan Officer

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Officer in New York, NY
    Former Employee - Loan Officer in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    I worked at Washington Mutual full-time (More than 3 years)

    Pros

    The company provided access to current mortgage holders

    Cons

    The Company didn't offer products for the areas in which the branches were located

    Advice to Management

    Have better products


  6. RETAIL banking. -- "Sell Sell Sell!"

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations Supervisor in Plano, TX
    Former Employee - Operations Supervisor in Plano, TX
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Washington Mutual full-time (More than 3 years)

    Pros

    If you want to, there was room to move up from the bottom.

    Cons

    But the ceiling wasn't very far from the ground when it came to advancement. The biggest disappointment, was seeing the change from being a banker and assisting people in their financial needs. Giving them clarity on what opportunities they had to make the best of their money. Counseling customers on how to manage funds. -- To trying to convince every single customer to open more and more accounts. Far more than they needed. Over and Over.

    Advice to Management

    No banker needs to be pushy. Lay-off. It's a burden on the customer to be treated like an asset.


  7. Helpful (1)

    Good people hurt by bad decisions

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Financial Analyst in Seattle, WA
    Former Employee - Senior Financial Analyst in Seattle, WA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Washington Mutual full-time (More than 10 years)

    Pros

    I was in a great group that drove enterprise finance support for the company. We had a lot of synergy and were recognized as subject matter experts in our roles. My manager was demanding but also collaborative and supportive.

    Cons

    Shame that so many good people who worked hard were impacted by such a short-sighted risk management strategy.


  8. Washington Mutual

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Teller in Atlanta, GA
    Former Employee - Teller in Atlanta, GA
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Washington Mutual full-time (More than 3 years)

    Pros

    I managed to get along with my bosses and my coworkers. I did like the benefits and all the employee discounts available.

    Cons

    I hated the fact that as a teller you had to stand up. Our stations were setup like a cell phone store but worse because there was an area for the customers to look around on the screen as you processed their transactions. This was invasive and uncomfortable for the employee. Now that I think about it, this was dangerous given that anyone could come in and easily physically assault us since it was a bank after all. I felt like WAMU did not care about our safety. My legs would hurt after a long day of standing up.

    Advice to Management

    Get your employees some chairs!! And put them behind a bullet proof window please!!!


  9. It's about leadership

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Former Employee - Vice President in Seattle, WA
    Former Employee - Vice President in Seattle, WA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Washington Mutual full-time (More than 10 years)

    Pros

    The vision was exciting at first and I was proud to be a part of WaMu. I was able to do some of my best work, with some very creative and bright people.

    Cons

    Leadership--and by that I mean the C suite--got caught up in ego gratification and hubris. For the three to four years before the company went under it was all about the numbers.

    Advice to Management

    Learn from your mistakes and surround yourself with people who tell you the truth ... and then resist the urge to run them off if you don't like what you're hearing.


  10. Treated unfairly by management and had negative experience in work environent.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in San Francisco, CA
    Former Employee - Anonymous Employee in San Francisco, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    WaMu had a very diverse group of people to work with and everyone knew what they were doing and very knowledgeable.

    Cons

    Did not feel like I was needed and was constantly felt underrated and disrespected by management and felt they had little faith in my work.

    Advice to Management

    Management could make the team feel a little more included and treat those working under them with more respect and value.


  11. Too little much too late

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President in New York, NY
    Former Employee - Vice President in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    The WaMu I knew had a long, proud history of serving its communities, customers and clients. While it was in business I was proud to work there.

    Cons

    WaMu's senior management utterly destroyed the bank. Between 2007 and 2008 the company stock slid from $40 down to 10 cents as it imploded, its assets ultimately sold to JPM at firesale prices by the federal government.

    Advice to Management

    Too little much too late. They presided over one of the greatest examples of the destruction of shareholder equity in the history of capitalism. On the flip side after this performance it should not be hard for any of them to actually improve as managers.



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