Flagstar Bank Reviews | Glassdoor

Flagstar Bank Reviews

Updated September 14, 2017
60 reviews

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

60 Employee Reviews

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Pros
  • Good benefits good work life balance decent incentive plan (in 10 reviews)

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

Cons
  • Lack of connection with upper management (in 16 reviews)

  • Low pay, small raises, not enough appreciation for veteran staff (in 9 reviews)

More Pros and Cons

  1. "Call center rep"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Flagstar Bank full-time (More than a year)

    Pros

    Somewhat good leadership, good base knowledge for retail and wholesale mortgage.

    Cons

    Many cons. Management has now idea who actually has knowledge and who gets by off of other. Pay is low, room for growth into upper management is slim. Veterans are not recognized for service, they would rather hire from the outside. If you can get a solid wage here, good for you. This company needs a lot of work even though they claim to be diverse.

    Advice to Management

    See above. MUCH ROOM FOR IMPROVEMENT


  2. "Former employee"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Troy, MI
    Former Employee - Anonymous Employee in Troy, MI
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Flagstar Bank full-time (More than 5 years)

    Pros

    Most of the employees are great, training great, benefits,

    Cons

    Management definitely needs to be monitored closely. No accountability for management decisions.

    Advice to Management

    know who you are allowing to make up there own definitions of job discriptions and who is actually working for the company and who is working against the company.

  3. "Leadership"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Flagstar Bank full-time

    Pros

    Company is growing and improving all over but still has a long way to go ...

    Cons

    Middle managers are a throw back to the 1980's

    Advice to Management

    Focus on living your STAR values and holding those accountable who do not.


  4. "Not Terrible, But I Can't Recommend It"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Float Teller in Farmington Hills, MI
    Former Employee - Float Teller in Farmington Hills, MI
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Flagstar Bank full-time (More than a year)

    Pros

    Pretty good benefits, PTO as long as you don't go in the negative

    Cons

    Lack of mobility, say they hire within but mostly hire externally, high turnover rate

    Advice to Management

    Treat your employees better. One manager I had even made it a point to comment on my appearance and weight (or lack thereof) every day. Even if they're "just a float." Warnings are issued even if completely legitimate reasons for absence are had.


  5. "Poor Management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Training in Troy, MI
    Former Employee - Training in Troy, MI
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Flagstar Bank full-time (More than a year)

    Pros

    Several good people there, but hurt through severe silos, political playing and very large turnover

    Cons

    Was interesting to see how our training team was left to the wind and couldn't accomplish anything because of our management being changed constantly.

    Advice to Management

    None, the stories constantly change with management.


  6. Helpful (1)

    "No Career Mobility, High Turnover"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior SOX Specialist in Troy, MI
    Former Employee - Senior SOX Specialist in Troy, MI
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Flagstar Bank full-time (More than a year)

    Pros

    - Banking industry
    - Growing brand in metro Detroit

    Cons

    I worked in a spin-off of Internal Audit, and worked for the worse supervisor that I ever had yet.

    - Company only had 6 profitable quarters and had layoffs in 2013 and 2014. Apparently more layoffs were held in 2016.
    - High turnover in department
    - No training in department
    - Bad relations with internal auditors who can write you up.
    - No understanding or care for diversity and inclusion principles. If you are minority, you minus well count yourself out of any meaningful assignments or exposure in the company. You are automatically viewed as a threat and incompetent.
    - unqualified management, who lie and blame staff to get their way.

    Advice to Management

    Please remove weak management, who are unqualified for their job. Improve your internal controls department so people stop leaving every 6 months.


  7. "Keep looking"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Flagstar Bank full-time

    Pros

    Good health benefits, good pto schedule.

    Cons

    Doesn't value good employees, and promotes those that brownnose.

    Advice to Management

    Talks a good game but doesn't execute.

  8. Helpful (2)

    "Disappointing"

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

    I worked at Flagstar Bank (More than 3 years)

    Pros

    Benefits, PTO are above average

    Cons

    Unethical management, toxic culture, unwillingness to change

    Advice to Management

    Take an ethics class


  9. "claims"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Loan Officer in Pontiac, MI
    Current Employee - Loan Officer in Pontiac, MI
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Flagstar Bank (More than 10 years)

    Pros

    Flexible hours, and work at your pace, with little supervision

    Cons

    Low pay for the amount of responsibility

    Advice to Management

    Treat your people better


  10. Helpful (1)

    "Highest Turn Over I've Ever Seen"

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

    I worked at Flagstar Bank full-time (More than a year)

    Pros

    Onsite childcare and cafeteria

    Cons

    The pay sucks
    Management is very lazy and shows favoritism
    You job isn't safe


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