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BofI Federal Bank

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BofI Federal Bank

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BofI Federal Bank Reviews

Updated Feb 8, 2022

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Found 155 of over 160 reviews

2.6
41%
Recommend to a Friend
52%
Approve of CEO
BofI Federal Bank President and CEO Gregory Garrabrants
Gregory Garrabrants
97 Ratings

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Top Review Highlights by Sentiment

Pros
Cons
  • "There were so many projects with wasted time based on poor management direction & advice.(in 14 reviews)
  • "I also had absolutely no training and my role was poorly defined to the point of being obsolete.(in 9 reviews)
  • "You must carefully assess your own objectives risks and constraints: Con artists, deplorable managers, fraudsters, and the inbred unite!(in 7 reviews)
  • "3. Very low pay and since raises only happen in June you could end up waiting 14(in 6 reviews)
Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.
  1. 5.0
    Current Employee

    Full Time

    Mar 19, 2020 - Anonymous Employee 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Good over time opportunities for some departments.

    Cons

    There are not any cons, this company is flexible and fair

    Be the first to find this review helpful
  2. 3.0
    Current Employee

    Salary Review

    Feb 8, 2022 - Account Analyst in San Diego, CA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    The annual bonus was good

    Cons

    Communication between management and employees weren't great.

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  3. 4.0
    Former Employee, more than 1 year

    Lots of potential.

    Oct 13, 2020 - Warehouse Lending Specialist in La Jolla, CA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Great location, good benefits, very nice office building and facilities, stock compensation, early start time due to business demands allowed early end of day.

    Cons

    Low pay, stressful responsibilities due to daily deadlines.

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  4. 1.0
    Former Employee, less than 1 year

    Worst place to work

    Sep 18, 2020 - Sales Associate in San Diego, CA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Don’t work here, create some more options for yourself

    Cons

    Food trucks at lunchtime were good

    Continue reading
    1 person found this review helpful
  5. 4.0
    Current Employee, more than 1 year

    Hard Work; Very Challenging

    Mar 15, 2016 - Analyst in San Diego, CA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    The bank is growing very quickly; so by nature, the environment is fast-paced. Your ideas will be heard by senior management if they are cost-efficient and ultimately increase production. Very seldom will you be bored – or at least it won’t be due to a lack of work. You work very closely with senior management and will likely have several interactions with the CEO if you are located at HQ. Overall I would consider BofI to be a very encouraging, supportive and challenging employer that rewards you for your hard work. I have recommended BofI to many of my friends who are interested in transitioning away from a brick-and-mortar institution.

    Cons

    You may find that in various departments people have a “that’s not my job” attitude; this may hinder your workflow, but you can build relationships with colleagues in other departments to avoid this. In some ways, BofI still operates with a “small-bank” mentality (tons of manual processes, excel-based monitoring and limited infrastructure/resources). The technology that you are provided with to perform your duties is subpar – for an internet-based bank, I would expect technological infrastructure to be much more efficient and reliable.

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    7 people found this review helpful
  6. 3.0
    Current Employee, more than 1 year

    People quit bosses not jobs.....

    Jul 30, 2016 - Anonymous Employee in San Diego, CA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    We all walk in here wanting to fix and better the company. The company asks for your ideas and keeps track of which department has the most continuos improvement ideas. There are snacks and for the more part everyone is great to work with.

    Cons

    Supervisors lack professionalism and the tools to help their employees grow. Instead of being happy when someone gets promoted or moves to another department they get resentful. Customer service and helping to fix the company's reputation is not a main concern which is terrible since that's the reason we have a job. I have been asked to under perform simply because "it's not my job" or "we don't have time" which is really outside my work ethic. At some point it just becomes sad because I like to believe I was hired to make a difference, unfortunately I get reprimanded for something other jobs would seek in an employee.

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    18 people found this review helpful
  7. 4.0
    Current Employee, more than 3 years

    There is room for improvement

    Nov 4, 2015 - Anonymous Employee in San Diego, CA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    I am very satisfied in my role and appreciate the leadership, mentorship, and interest that our department managers provide to their direct reports, and even their direct reports' direct reports. There is trust between managers and employees and a wealth of information and experience to share with employees who have a desire to evolve in the industry. What I appreciate the most is the camaraderie between colleagues and management. It makes you excited to do your job, and to do it well.

    Cons

    Not all business units are blessed with good leaders. The good breed the good, and the bad breed the bad. Apple doesn't fall far from the tree, birds of a feather stick together, monkey see, monkey do- works both ways. The poor and unprofessional behavior from some managers seems to encourage the staff to follow suit. I've witnessed managers and supervisors discourage their employees from taking initiative, passing the buck because "it isn't your job", and have actually heard an supervisor say to another, "we don't go the extra mile here". Disappointing and frustrating to watch because at the rate the bank is growing, the teamwork and relationships across all departments will need to be up to par to run a successful, well-oiled machine.

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    3 people found this review helpful
  8. 5.0
    Current Employee

    Excellent career opportunities with supportive teams and leadership

    Mar 20, 2015 -  
    Recommend
    CEO Approval
    Business Outlook

    Pros

    I’ve worked at the bank for almost three years, and I can say that the opportunities I’ve had here are unparalleled. The company has a very entrepreneurial spirit and encourages employees to think critically about their work and to constantly improve. My advice to applicants and current employees would be to not shy from a challenge. Step out of your comfort zone and be willing to take initiative and demonstrate your value. Every team I’ve worked on has been supportive and happy. I’ve developed life-long friendships and a strong professional network at the bank. I have loved the company softball team, working collaboratively on interdepartmental projects, and interacting with great people every day at the bank. The bank attracts a great crowd; many employees are young, smart, hard-working, and fun. The reason why I’ve stayed at BofI so long: the supportive leadership. My concerns have been heard, my feedback has been appreciated, and I am supported every day in my professional growth and personal development. Also, as a young woman, it is refreshing and encouraging to see many female executives at BofI. There is no “glass ceiling”. Hard work is hard work. Results speak for themselves.

    Cons

    UTC area is challenging to get in-and-out of with traffic

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    4 people found this review helpful
  9. 2.0
    Former Employee, less than 1 year

    Turnover is high at BOFI for a reason.

    Jan 6, 2016 - Anonymous Employee 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Lots of very attractive people work here, part of me feels that is why I was hired aside from my Wonderlic Exam score (I had no banking experience and a high salary demand) because many of the attractive employees also came from similar situations. That said, being surrounded by gorgeous people makes it easy to go to work in the morning.

    Cons

    Poor management. No supervision whatsoever for some roles, too much for others. I was in a pretty senior role and when the guy I had been reporting to left the firm, I was left completely on my own with no direction or any responsibilities beyond the ones I took on myself. I taught myself how to use SQL just so I could have something to do. Despite supposedly reporting directly to the VP of my department, I didn't even interact with her until about 3 months into my time with the firm. I also had absolutely no training and my role was poorly defined to the point of being obsolete. I was supposedly "highly paid" and made more than managers, but I still didn't make all that much. Benefits were poor.

    Continue reading
    14 people found this review helpful
  10. 1.0
    Former Employee

    Here today, gone tomorrow

    Mar 11, 2015 - Anonymous Employee 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Coworkers are awesome and easy to commiserate with about this place. Location is great, near UTC and major freeways - but that's about it. Can you make a name for yourself? Sure, but you won't want to be here long enough to move forward with the company.

    Cons

    Where to begin - culture is awful. You could be working with someone one day, then the next day (or even the same day) they are no longer with the company. It's hard to feel welcomed at BofI Federal Bank when the higher-ups feel you are no longer needed and there's no explanation about those who are fired. And when you are told of someone's absence, it's in a hush-hush manner and brushed off like it's nothing. Second, this place has terrible leadership. People in charge act like they know everything, but it gets delegated to the peons who mean well but get screwed over if things don't go well. Third, there is no HR department. That's right, no HR, so if you have any issues within your department, you either suck it up or risk getting fired (see the first paragraph). You're better off sticking a hot fork in your eye than work here - hate to be the bearer of bad news, but one candidate saved is a win.

    Continue reading
    15 people found this review helpful
Viewing 1 - 10 of 155 Reviews

BofI Federal Bank Reviews FAQs

BofI Federal Bank has an overall rating of 2.6 out of 5, based on over 160 reviews left anonymously by employees. 41% of employees would recommend working at BofI Federal Bank to a friend and 41% have a positive outlook for the business. This rating has been stable over the past 12 months.

According to anonymously submitted Glassdoor reviews, BofI Federal Bank employees rate their compensation and benefits as 2.5 out of 5. Find out more about salaries and benefits at BofI Federal Bank. This rating has been stable over the past 12 months.

41% of BofI Federal Bank employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated BofI Federal Bank 2.7 out of 5 for work life balance, 2.4 for culture and values and 2.8 for career opportunities.

According to reviews on Glassdoor, employees commonly mention the pros of working at BofI Federal Bank to be benefits, coworkers, career development and the cons to be senior leadership, culture, management.

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