BofI Federal Bank Reviews

Pros

Good over time opportunities for some departments.

Cons

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

Pros

The annual bonus was good

Cons

Communication between management and employees weren't great.

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.

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.

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.

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.

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

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.

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.

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 thought to handling individual employee concerns in a in a manner that does not involve absolutely everyone on or off your team. Any employee can be overwhelmed all day, every day, by loud, vulgar, aggravated conversations which flow straight through the phone to the client. Rather than this being considered the height of unprofessionalism, it is constant behaviour. Management denegrades personnel in a sexist, vulgar manner. I cannot comprehend this still going on in 2018. In my time at BofI, 4 top producing colleagues left, one loudly, and with much vulgarity and dissatisfaction - which by the way had been tolerated for a long time. Unbelievable. Just remember - commissioned employees do not leave well paying jobs at this rate EVER. These are jobs people rarely leave, so enough said. I'll move on to working for a company who knows how to handle a professional staff.