First Marblehead Reviews | Glassdoor

First Marblehead Reviews

Updated February 7, 2017
17 reviews

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Full-time Part-time

3.0
Star Star Star Star Star
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First Marblehead President, CEO, and Director Dan Meyers
Dan Meyers
8 Ratings

17 Employee Reviews

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  1. "Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Westborough, MA
    Former Employee - Anonymous Employee in Westborough, MA
    Neutral Outlook
    No opinion of CEO

    I worked at First Marblehead full-time (More than 3 years)

    Pros

    Good benefits and time off
    Nice office building/modern work space
    Free coffee & semi-frequent catered lunches(usually during peak season)
    Many 10+ year employees in the Operations Dept who were very skilled at their job and truly cared about the integrity of their work, many great people to work with

    Cons

    under payed, severe lack of pay increases & little opportunity for vertical movement
    Peak seasons would get very hectic & hard work would generally go unrewarded
    They would hire MANY temp workers during peak season, many of whom were incompetent, would make ample mistakes and created more work for the vets
    Operations management were very nice people but they seemed jaded/motivationally broken & uninterested in promoting meaningful changes
    Corporate management seemed completely absent & uninterested in their operations dept(could explain the ladder)
    Clear divide/gap between operations and corporate management
    Lack of continuity between Operations & IT, not enough requirement gathering before software developments which would often lead to software that did not work as intended or that under severed operational needs or even complicated them.

    Advice to Management

    You have so much undervalued talent in your operations dept but lack of meaningful leadership is causing some of your best workers to jump ship. FMD needs leadership more than anything


  2. Helpful (1)

    "Dont go to work here"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Java Developer in Medford, MA
    Former Employee - Java Developer in Medford, MA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at First Marblehead full-time (More than a year)

    Pros

    There really weren't many pros. The staff in the medford office is at least mostly decent to each other. It won't last very long since management has a proven track record of laying off or firing lots of employees. It's almost guaranteed you will lose your job in less than a year.

    Cons

    This was the worst professional experience I've ever had. The company has been on a steady decline since the 2008 stock market crash and has never really recovered. Management lied like crazy in the job interview then screamed for the next year in an effort to force insane amounts of work out of the engineering staff that they don't have the money to pay for. Whatever you do don't go to work for this company. It's a miserable sweatshop where your life will be a horrible nightmare.

    Advice to Management

    Stop being sociopathic. Live up to your own mistakes. Stop threatening physical violence if the unrealistic deadlines you've set aren't met.


  3. "Manager"

    Star Star Star Star Star
    Former Employee - Assistant Manager in Boston, MA
    Former Employee - Assistant Manager in Boston, MA

    I worked at First Marblehead full-time (More than 5 years)

    Pros

    • Starting position was System Developer to analyze student loans that do not require inter-department operators to carry piles of mails and documents during their job function and activities action time.

    Cons

    • Ending position was Manager to design loan approval activities map, functional requirement and human interactions. Accomplishments covered ordering equipment, materials, leading every memorandum on activities, dues, plans during meeting and employee appraisal.
    • Business product managed are listed as student loan, credit scores, course registration, transcripts, identities, passport, IBM Cobol AS 390, HP Servers, Microsoft SQL Servers, Project Managers, Networking Protocols, EMC InputAccel, Documentum, E-Room, Pega System, and Oracle Data Warehouse.
    • Customers managed are listed as Federal Reserve Bank, Experian, Equifax, TransUnion, Goldman Sachs,


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  5. Helpful (1)

    "Could be better"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Applications Developer in Warwick, RI
    Former Employee - Applications Developer in Warwick, RI
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at First Marblehead full-time (More than a year)

    Pros

    Great flexibility in work hours. Work from home was always approved. Great work life balance. Few very smart folks I had a chance to work with that I am thankful and happy I had the chance to work with.

    Cons

    I felt cheated at the interview, the position was advertised as a .NET developer and the work turned to be only database development. Had I known at the beginning my backlog will be packed with database development stories I would have pursued a different job. Would have not wasted anyone's time and it would have allowed TMS to find the right candidate. They also seem to hire .NET developers and wish to turn them into Java developers due to lack of development talent in the Rhode Island area. :(


  6. Helpful (1)

    "A best of times, the worst of times"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Marketing in Boston, MA
    Former Employee - Marketing in Boston, MA
    Neutral Outlook
    Disapproves of CEO

    I worked at First Marblehead full-time (More than 3 years)

    Pros

    In good times, plenty of resource and autonomy to fuel growth, smart and fun colleagues, data-driven intelligent decision making

    Cons

    In bad times, we were unprepared for the cliff of student lending drop off. There was no plan B and many were laid off ... Fast


  7. Helpful (1)

    "Loved my job!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Multiple in Medford, MA
    Former Employee - Multiple in Medford, MA
    Recommends
    Approves of CEO

    I worked at First Marblehead full-time (More than 3 years)

    Pros

    I worked for First Marblehead for just over 4 years and held a variety of positions.
    Pros included:
    -Great people
    - Decent culture
    -Great Facilities
    -Great Pay
    -Great Benefits
    -Lots of Opportunity for growth and change
    -Supportive Management

    Cons

    Industry troubles forced a change in the board which was ultimately the death knoll for most of us at the company. Misplaced trust in replacement leadership turned what was an awesome place to work into a very unstable place. Having met and worked with the CEO several times and him not even remembering we had met was a huge insult. On the other hand, Dan Meyers the original and current CEO, has a way of making everyone feel important. Sure he is mercurial but he is exciting and if anyone can restore FMC, it is him!


  8. "I wouldnt want to do it again."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Analyst in Medford, MA
    Former Employee - Loan Analyst in Medford, MA
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I worked at First Marblehead full-time (Less than a year)

    Pros

    the other temps I worked with, nice cafe,

    Cons

    they take on temps promise them all this work, overtime and the upper manangement takes it for themselves and just smile in your face, not enough work. boring, they seem to like to keep the little people down, dont explain things throughly and to many people trying to train you everyday it was someone different and i understand you should learn different ways, but not in a one week trial. they tell you your doing good and then tell the manager your not, VERY two faced management.

    Advice to Management

    dont make promises you cant keep,


  9. "ok"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Boston, MA
    Former Employee - Anonymous Employee in Boston, MA
    Recommends
    Approves of CEO

    Pros

    was growing really fast with lots of opportunities

    Cons

    lack of communication among different departments


  10. Helpful (2)

    "Buckle in for a wild ride -- great opportunity, but a wild-west atmosphere"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - VP, Marketing in Boston, MA
    Former Employee - VP, Marketing in Boston, MA
    Recommends
    Approves of CEO

    Pros

    Learning opportunities. First Marblehead is ahead of the curve in defning an emerging industry. There are tremendous opportunities to explore, experiment and define success. The caliber of colleagues is simply fantastic. People are tremendously smart and fun to work with. There is a very collegial atmosphere and a terrific social community.

    Cons

    Industry turbulence. Unfortunately the credit markets and regulatory environment have dealt First Marblehead several body-blows recently. There has been extreme turn-over and massive layoffs this year. The return of the former CEO, Dan Myers may provide a shot in the arm and a return to solid growth. Dan is an unpredictable maverick with an "in crowd" and an "out crowd". He'll clean house, but there may be opportunities for new employees to rebuild FM back to its deserved glory. Its a challenging, dynamic environment that does not place a premium on communication from Sr. Management or standard management practices -- work/life balance, benefits, career development etc. Its kind of the Wild West and Dan is the sherriff. Hope he likes you and buckle in for a wild ride.

    Advice to Management

    With the rare opportunity for a "do-over" I would recommend hiring beyond your circle of "known buddies" and bringing in some outside talent who can help build infrastructure for scalable success. The last time around, FM's stellar growth took it from infancy to "awkward teenage" years without the opportunity to mindfully create a model for success at a larger scale. Place a premium on communication, allow more of your management team to contribute to success and recognize efforts and contributions.


  11. "Working here was great! While it lasted."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Representative
    Former Employee - Customer Service Representative
    Recommends

    I worked at First Marblehead (Less than a year)

    Pros

    It was a great office environment, and paid very well for the work that it was.

    Cons

    Not much room for advancement from Customer Service, which they only hire from temp agencies. There are also no raises for increased work load for the contract employees.


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