BofI Federal Bank Reviews | Glassdoor

BofI Federal Bank Reviews

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Found 151 reviews

2.4
StarStarStarStarStar
Rating TrendsRating Trends
37%
Recommend to a Friend
51%
Approve of CEO
BofI Federal Bank CEO Gregory Garrabrants
Gregory Garrabrants
95 Ratings
Pros
  • "Fast-paced, great place to build technical skills and come across different problems(in 12 reviews)

  • "The coffee machine and free pretzels(in 8 reviews)

Cons
  • "No one uses them for daily banking(in 7 reviews)

  • "There is absolutely no sense of urgency to pay your commission(in 5 reviews)

More Pros and Cons
  1. "Fast Pace, Forward Thinking, Challenging Work"

    StarStarStarStarStar
    • Overall
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at BofI Federal Bank full-time for more than 2 years

    Pros

    Everything! If you want to be challenged, heard, and feel that your input is valued and appreciated, even if it isn't the consensus, then this is a great place for you. You are challenged with tasks and projects you may have never done, but you have the support and encouragement to be successful when jumping into something new to you. You get to focus on things that are also important and interesting to you that make...

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    Cons

    Nothing to add.

  2. Helpful (2)

    "Good place to learn"

    StarStarStarStarStar
      Former Employee - Data Warehouse Developer in San Diego, CA

      I worked at BofI Federal Bank full-time for more than a year

      Pros

      Learned a lot of skills, always something to do

      Cons

      Low morale, too many meetings

    • Helpful (5)

      "Good Experience, Bad Pay"

      StarStarStarStarStar
      • Overall
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Relationship Manager 
      Doesn't Recommend
      Neutral Outlook
      Disapproves of CEO

      I worked at BofI Federal Bank full-time for more than 4 years

      Pros

      - Ability to work hands on with live deals early in career - Trusted to work independently without micro-managing - Tight knit and collaborative work environment

      Cons

      - No formal/effective credit training - You are sacrificing pay for experience. Only way to get a meaningful raise is to get another offer letter and quit. In a few cases they will match the offer. - Managers have minimal fighting power in terms of fixing pay issues, the ultimate decision lies at the very top.

    • Helpful (9)

      "Mixed feelings about this organization"

      StarStarStarStarStar
      • Overall
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Anonymous Employee 
      Disapproves of CEO

      I worked at BofI Federal Bank full-time

      Pros

      Trying to be innovative, nice technology and toolset.

      Cons

      30% turnover and management could care less. Not a place to look at if you want any work/life balance.

    • Helpful (13)

      "Wholesale/Correspondent AE"

      StarStarStarStarStar
      • Overall
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Anonymous Employee 
      Doesn't Recommend
      Negative Outlook
      Disapproves of CEO

      I worked at BofI Federal Bank full-time

      Pros

      I can think of none.

      Cons

      Management is vulgar, profane, denegrades staff, and is sexist. The feel of the place is of being in the middle of a melt-down, each and every day. There is a lack of professionalism from the top down, and if you are one who values a professional environment, you will not find it here. All disputes are handled openly, and aggressive personel thrive. There is no professional privacy, no professional courtesy, and no...

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      Advice to Management

      Watch the vulgarity, the denigration of women and the denigration of all those whom your management deems "beneath them". This will rear it's ugly head, and result in headlines and lawsuits. Wake up, it's a new world. Branchless may be innovative, but in many ways BofI is a dinosaur.

    • Helpful (24)

      "Another BofI employee dissatisfied with the mid-2018 bonus and merit raise"

      StarStarStarStarStar
      • Overall
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - Anonymous Employee 
      Doesn't Recommend
      Neutral Outlook
      Approves of CEO

      I have been working at BofI Federal Bank full-time for more than a year

      Pros

      There is always plenty of work to do. Coworkers are generally kind and gracious. The coffee machines and water coolers are nice. Other than the company headquarters off La Jolla Village Drive, facilities have abundant hassle-free parking. Most people in senior management including the CEO are affable and accessible.

      Cons

      The "self-evaluation" system may have made sense years ago when the bank was small, but it has degraded into a charade in which managers jigger their subordinates' numeric scores so that annual merit pay increases and semiannual bonuses fit a predetermined budget. Mid-level managers seem to have their personal objectives weighted heavily toward cost control, with little emphasis on talent retention. Pay has become quite...

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      Advice to Management

      Figure out which employees actually know what they're doing, and make a serious effort to hold on to them. And don't be greedy.

    • Helpful (11)

      "Stay away"

      StarStarStarStarStar
      • Overall
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Anonymous Employee in San Diego, CA
      Doesn't Recommend
      Negative Outlook
      No opinion of CEO

      I worked at BofI Federal Bank full-time for more than 2 years

      Pros

      Nice location in San Diego. Met a few nice people.

      Cons

      How did I end up here? Over a year of dealing with managers' and UW's attitude, that's all I got out of this job.

      Advice to Management

      Look around you and recognize that you are not the only non-prime lender around. The competition is stiff, even in your tiny niche. You are out of the game on all fronts. Respect your sales people, help them nurture existing relationships with brokers and grow new ones, support them, get involved in the issue they are dealing with, work with them, hold their hand on complex deals, offer your expertise, help them win...

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    • Helpful (7)

      "Stay away - Poor Company"

      StarStarStarStarStar
      • Overall
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - Anonymous Employee 
      Doesn't Recommend
      Negative Outlook
      No opinion of CEO

      I have been working at BofI Federal Bank full-time

      Pros

      Free coffee and water and Lipton tea.

      Cons

      They do not care about their employees.

      Advice to Management

      You don't care and everyone knows it.

    • Helpful (17)

      "Dont make your life miserable"

      StarStarStarStarStar
      • Overall
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Whatever They Felt Like That Week in San Diego, CA
      Doesn't Recommend
      Negative Outlook
      Disapproves of CEO

      I worked at BofI Federal Bank full-time for more than 4 years

      Pros

      I made great connections through BofI

      Cons

      It's crazy to me how the reviews indicate how much better this company is treating their employees for the last year. I wonder if its any correlation to the fact that they finally hired a PR person to try and make their company look less like a disaster... Anyway, I'm going to keep this short and sweet as BofI has wasted too many years of my life. It's a mess. An absolute disaster. None of the departments communicate...

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      Advice to Management

      It's not like they'll take it

    • Helpful (7)

      "Sr. Loan Processor.."

      StarStarStarStarStar
      • Overall
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Senior Loan Processor in Las Vegas, NV
      Doesn't Recommend
      Negative Outlook
      No opinion of CEO

      I worked at BofI Federal Bank full-time for more than 2 years

      Pros

      None... Unable to think of any... made some friends though... Company does not know what or how to handle employs or their clientele

      Cons

      Everything ... Stop treating your employees like computers they are human beings.. Walk into one of their offices there is no personal items on anybody's desk. They are not allowed to have any... Not only that but processors take the blame for everyone else's mistakes.. The Co. pits everyone against each other and they want us to give continuous improvement ideas but do not use any of the ideas.. They act like they hear...

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      Advice to Management

      Listen to your employees.. When letting people go instead of stating its a right to work state. Stand up and let the employee know why you are terminating them.. When you send the information to the unemployment office dont enter misconduct.. (Misconduct is for something the employ said or did incompletely wrong.. not a poor worker that just dont cut it..) That is discrimination against the employee who worked tirelessly...

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    Found 151 reviews