Washington Mutual - Meltdown was inevitable | Glassdoor
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There are newer employer reviews for Washington Mutual

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"Meltdown was inevitable"

StarStarStarStarStar
  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Project Manager in San Francisco, CA
Former Employee - Project Manager in San Francisco, CA
Doesn't Recommend
No opinion of CEO

Pros

Pay was good. Project Management methodology followed PMI industry standards. Management had meetings in person to promote team work and get buyin on the business processes and work, but this just applied to the department that I was in, not global.

Cons

No trust or information sharing between business and IT. Lots of games being played. People so paranoid and cya, that everything in email.

Advice to Management

Don't know how it is now that it's Chase. Advice to WaMu senior management and anyone: when you see the star managers leaving, you know that a meltdown is ahead. Plus, read the newspapers and intranet. Was not in mortgage lending division; would be interesting to hear feedback from people who worked there.

Other Employee Reviews for Washington Mutual

  1. "A once great place to work...Wishing success to those transferring on to Chase"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Technology Manager II in Seattle, WA
    Former Employee - Technology Manager II in Seattle, WA
    No opinion of CEO

    Pros

    The best reasons were the friendly and dedicated workers and team-mates. There was a core of very quality people who made up WaMu, particularly in IT. They were true IT professionals who wanted to do the best job possible to keep the branches open and operating and all IT systems in solid functioning order. There were also lots of training opportunities and company sponsored certifications and classes that were open to IT staff members. It was a great learning environment.

    Cons

    Even before the more serious problems began affecting WaMu, the morale was declining. Many of the"old guard" employees who had principles and ethics were either forced out or quit. It changed from a genuinely friendly place to work, to a place of uncertainty and fear and mistrust of the senior leadership.

    Advice to Management

    Too late on the feedback, since WaMu is no more...but it would have been to stick to sound lending practices and quality of service


  2. "It wasn't bad for what it was."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President in Seattle, WA
    Former Employee - Vice President in Seattle, WA
    No opinion of CEO

    Pros

    The best reason to work at Washington Mutual was that it was one of the largest companies in Seattle, giving employees opportunity to move among departments and disciplines that were large enough they were staffed by experts in those areas. At a smaller company, you might have to be jack-of-all trades or rely on people who were largely self-taught. There was some opportunity for staying with the company even if you had to move to a different geographic area. As is often the case, if you were a newer employee, your salary was probably market competitive. The benefits were better than what many small companies can afford to offer.

    Cons

    While it was a Fortune 100 company, there were too many second- and third-rate managers and executives running the place. If you stayed there too long, you might think some of its corporate pathologies were normal. Also, the longer one stayed, the more their pay would fall behind market competitive rates and the compensation system made it nearly impossible to fix that unless you had a manager who was willing to go to bat for you. Certainly the biggest downside was that the company's banking operations were seized by the FDIC and sold to JP Morgan Chase, which resulted in many employees losing their jobs.

    Advice to Management

    Hire more first-rate managers and empower them to improve the company's operations. But don't forget what makes the place unique.

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

See Most Recent

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