Washington Mutual - Great company---Culture was very good, but failure at senior levels ran the Bank into the ground. | Glassdoor
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"Great company---Culture was very good, but failure at senior levels ran the Bank into the ground."

StarStarStarStarStar
  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Financial Representative in Encinitas, CA
Former Employee - Financial Representative in Encinitas, CA
Recommends
Disapproves of CEO

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 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!

Other Employee Reviews for Washington Mutual

  1. "I really miss working for this company, they were so good to their employees"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Branch Manager in Las Vegas, NV
    Former Employee - Branch Manager in Las Vegas, NV
    Recommends
    Disapproves of CEO

    Pros

    rewarded for hard work, ability to promote within the company

    Cons

    they went out of business

    Advice to Management

    should have focused more on the branches instead of home loans


  2. "Brief, but intense"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Audit Manager in San Francisco, CA
    Former Employee - Audit Manager in San Francisco, CA
    No opinion of CEO

    Pros

    Quality enthusistic, engaged and hard working team.

    Cons

    Commuting into the city was difficult for me

There are newer employer reviews for Washington Mutual
There are newer employer reviews for Washington Mutual

See Most Recent

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