Flagstar Bank Reviews | Glassdoor

Flagstar Bank Reviews

Updated July 20, 2017
56 reviews

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56 Employee Reviews

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Pros
  • Really appreciate the work/life balance (in 9 reviews)

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

Cons
  • Upper management micromanages to the extreme (in 12 reviews)

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

More Pros and Cons

  1. Helpful (2)

    "Relationship Banker"

    StarStarStarStarStar
    • 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


  2. "Stay away"

    StarStarStarStarStar
    • 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.

  3. Helpful (1)

    "loan review analyst"

    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 10 years)

    Pros

    Nice safe area to work in, Nice building, some departments allow you to cross train. Diverse group of employee's.

    Cons

    Have been going thru lots of upper management changes over the last few years. Company tends to hire a lot and twice a year go through big lay offs. Working for them as many years as I did I can say the management has more closed door meetings and they are not very transparent to their employees. You are working in a cubical world where it's frowned on to speak to your team members. The group I was in took away our desk phones because we had no reason to call anyone outside the building. They put phones at the end of the row for us to talk to the IT dept if we had computer problems. Like we were 3 year olds not to be trusted. You have to account for every minute of your 7.5 hour day (450 minutes) . If you can't then you will fail to meet expecting on your annual review
    Pay is also on the lower end of the scale in the industry.

    Advice to Management

    Treat your employees like they are human not machines. Come out of your offices more, many of you hide in there. If you want us to work over time how about if you stay late with us. Management who have been with the company 10 plus years seem to think they are un touchable and above the little people.
    Sadly, I think the CEO Mr. DInello took on a sinking ship that prior management ran into the ground and unless he gets personally involved and meets with the "little" people nothing will change and they will be taken over by another company.


  4. "You can do better"

    StarStarStarStarStar
    • 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.


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

    StarStarStarStarStar
    • 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!!!!!!!!


  6. "Was treated terribly by management"

    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
    Disapproves of CEO

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

    Pros

    Only pros I can say that I was treated much better by coworkers who treated me like a good friend or family member.

    Cons

    If you have a disability look elsewhere, you will get treated with no respect and will feel like an outsider by the management. They refused to honor a special chair for me when I had the actual doctor's note. They wanted to save money so they gave me an old chair but complained that it didn't match with the companies chair throughout the building. Also they don't have any supplies meaning you have to bring your own personal supplies on your own money. They are cheap and don't give out good raises. Also if you are working here save all evidence in case you get let go. They omitted half of my employee file when I obtained a lawyer to go after them due to discrimination and wrongful let go. They lied saying my work was bad, nit true my evaluation said otherwise. I noticed they let go all disabled and people who took medical leave first. You don't have an outside family life at all.

    Advice to Management

    Fire the management that are rude, show no respect. Training I got was horrible, they boasted this particular woman was the best in the group but I also heard she got let go about 3 months after me. She couldn't complete anything right, kept calling other coworkers to ask them questions because she couldn't trained you properly.


  7. "The company has a high turnover rate"

    StarStarStarStarStar
    • 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.

  8. "Rotating Leadership, no results"

    StarStarStarStarStar
    • 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.


  9. "Rocky Ride"

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

    Pros

    The company has benefits including healthcare, vision, dental, and life insurance.

    The company observes 11 holidays with pay, and now offers one paid community involvement day to participate in volunteer activities the company supports.

    The work environment is such that folks do work hard to solve problems and accomplish objectives at the individual level, department level, and organizational level.

    Cons

    The leadership turnover is crazy, which produces a whiplash affect on the employment base due to new directions, new processes, and new ideas of how they want things done.

    The out of pocket costs for premiums, co-pays, and co-insurnace are higher here compared to other employers I've worked for at the same level of coverage. This could be due to higher costs of healthcare overall, and/or due to the financial stability of the company.

    The payscales are published which show huge six-figure salaries, but good luck in ever really getting ahead via promotion or via substantive merit increases.

    The full time employee headcount is fixed which means new positions which could pay more cannot be created to allow promotions within, and the promotion opportunities that do exist are most often filled from the outside.

    The company lacks a 360 performance review of management to allow feedback on how they are performing, so your boss can get away with behavior that her/his boss doesn't even know about.

    Despite huge layoffs leaving only the best employees, the company has decided to make those who remain feel even worse about their individual performance by limiting the % of people who can get "outstanding" and "above average" performance ratings, and wants most everyone to be in the "meets" performance goals rating to pay little to nothing for our contributions.

    Advice to Management

    Communicate more often about the direction of the company, our progress and challenges to overcome.

    Improve compensation for non-commissioned staff. People work for money - just like you. The more you pay, the more we want to work hard to get ahead too.

    Increase the paid time off. The amount of PTO is low.


  10. "Business Client Service"

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

    Pros

    Paycheck every two week
    37.5 work week (pro and con)

    Cons

    Hours changed weekly
    No incentive programs
    No OT
    Progression to other departments nonexistent


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