Flagstar Bank Reviews | Glassdoor

Flagstar Bank Reviews

Updated January 24, 2017
53 reviews

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Flagstar Bank President & CEO Alessandro P. DiNello
Alessandro P. DiNello
21 Ratings

53 Employee Reviews

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Pros
  • Several good people there, but hurt through severe silos, political playing and very large turnover (in 13 reviews)

  • Great co-workers, they are trying to turn it around and increase morale (in 6 reviews)

Cons
  • Upper management micromanages to the extreme (in 11 reviews)

  • There is little room for advancement and the leadership is constantly changing goals (in 5 reviews)

More Pros and Cons

  1. Helpful (2)

    "You will never advance unless your "friends " with management"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Closer in Troy, MI
    Former Employee - Mortgage Closer in Troy, MI
    Doesn't Recommend
    Negative Outlook

    I worked at Flagstar Bank full-time (More than 10 years)

    Pros

    Benefits package and Paid time off

    Cons

    No room for advancement. Managers are in a clique and take more smoke breaks than actually work.

    Advice to Management

    No matter what advice you give, they won't listen


  2. Helpful (1)

    "Accountant"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Accountant in Waterford, MI
    Former Contractor - Accountant in Waterford, MI
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Flagstar Bank as a contractor (Less than a year)

    Pros

    Location was great. Nice campus. Co-workers were nice. Able to move around within the company. Located close to the freeway.

    Cons

    It was high school all over again. Cools kids against the not so cool kids. Supervisors were not leaders. Was bored half the time.


  3. "Don't waste your time applying"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Troy, MI
    Current Employee - Anonymous Employee in Troy, MI
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Flagstar Bank full-time (More than 8 years)

    Pros

    "Original Senior Management" cared about their employees. Great place to work when they were around. When the private equity firm (MP) came in, everything changed, cut throat, and only cares about bottom line. Long time employees were/are no longer an asset unless you sell your soul to the devil. Constant turn over of senior management and a lot of lip service. Fake managers/senior management. HR department sucks, they have been brainwashed by CEO/Sr. Mngmt.

    Cons

    Decent Work/Family balance. Good benefits and vacation time.


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  5. "work life"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Accountant in Farmington Hills, MI
    Former Employee - Accountant in Farmington Hills, MI
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Flagstar Bank (More than 5 years)

    Pros

    had great co-workers - team players

    Cons

    mngt has too much back stabbing


  6. Helpful (2)

    "Relationship Banker"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Oakland, MI
    Former Employee - Anonymous Employee in Oakland, MI
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Flagstar Bank full-time (More than 3 years)

    Pros

    If you get lucky you will have good peers.

    Cons

    Pay is below industry average. Retail they are pushing staff to become more and more aggressive to the point of angering customers. Retail is definately understaffed to the point of only having two employees run the branch all day with no break or lunch, It happened so much I consulted an attorney to see if it was legal. There own person from Corp. Security department said it was unsafe.

    Advice to Management

    I was a top performer and I finally got out! Many other top employees cant wait to get out but still tough job market. What sense does it make to have a revolving door of employees? Flagstar has poor rep. With employees at other financial institutions


  7. "Stay away"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Manager in Sterling Heights, MI
    Former Employee - Assistant Manager in Sterling Heights, MI
    Doesn't Recommend
    Negative Outlook

    I worked at Flagstar Bank full-time (More than 3 years)

    Pros

    Not very strict about goals

    Cons

    Doesn't promote good employees, promises positions and the position disappear with no explanations.

    Advice to Management

    Change all your human resources team.


  8. "You can do better"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Licensed Banker in Troy, MI
    Former Employee - Licensed Banker in Troy, MI
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Flagstar Bank (More than 5 years)

    Pros

    They paid for my training, allowing me to find another job. Honestly, after leaving, I feel a little bad about having put so much time and effort into a place that didn't appreciate me. Like many other reviewers have noted, pay and promotions are not given based on merit. Use Flagstar as a launch pad for better opportunities.

    Cons

    Low wages
    Not many advancement opportunities
    Poor management

    Advice to Management

    Take a look at how other institutions operate.


  9. "I was very unhappy after being there for a month alone at my cubicle!!!!!!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Bilingual Mortgage Servicing Representative in Troy, MI
    Former Employee - Bilingual Mortgage Servicing Representative in Troy, MI
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Many of the co-workers are friendly and you become close since you work with the same people everyday.

    Cons

    They have no empathy with situations you may have. If you fail to hit one small key point you are given a verbal warning as opposed to aajust advising you and helping you better that issue if it were to arise again in a different call.

    Advice to Management

    You aren't better than anyone and place yourself in some of the workers shoes and bring yourself down from that high horse you're sitting on so that you can relate to your workers!!!!!!!!


  10. "The company has a high turnover rate"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Spoc in Troy, MI
    Former Employee - Spoc in Troy, MI
    Doesn't Recommend
    Negative Outlook

    Pros

    It is good to work their if you want to get quick knowledge. It is a fun work envirment

    Cons

    Don expect long-term goals with this company unless you like to work without career advancement.

    Advice to Management

    Catering to your employees determines the success of your company.


  11. "Rotating Leadership, no results"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Management in Troy, MI
    Former Employee - Management in Troy, MI
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Only area bank headquartered in Michigan.

    Cons

    Where does one start. The C-Level, Sr. Leadership and Management turn style is getting warn out. Many many "top guns" hired to come in and do a job and they don't execute. And no one following up on results. New people get paid top salaries and never really provide value. This leaves all of the overworked dedicated managers to pick up the pieces once again and perform under extreme deadlines for others lack of performance.

    Advice to Management

    Read resumes better, interview better, ask for proof of results.....pay middle management and sr. team members the right amount of money before they have to leave.


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