Flagstar Bank Reviews | Glassdoor

Flagstar Bank Reviews

Updated July 30, 2017
257 reviews

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257 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. "Revolving Door"

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

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

    Pros

    Benefit packages that are available are very good. They offer a cafeteria plan of benefits, and provide education seminars so that employees understand what is offered.

    Cons

    Executive team changing or they hire their family members. Revolving door of employees. They hire 300 employees for mortgage, then they are gone. Always have job openings and having job fairs on-site. HR department is not "human."

    Advice to Management

    Employee retention is important and hiring people who can do the job rather than hiring family and buddies. Clean up your act.


  2. "Licensed Senior Relationship Banker"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Licensed Senior Relationship Banker in Jackson, MI
    Former Employee - Licensed Senior Relationship Banker in Jackson, MI
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Flagstar Bank is a wonderfully community driven bank and was fantastic to work for as an organization. Flagstar offers great opportunity for advancement and training.

    Cons

    A lot of the business is cut throat and you are competing with everyone, at all times. It is in fact a very stressful environment and sometimes you have no idea who your allies are, including upper management.

    Advice to Management

    Management should never discuss private employee matters with the rest of the entire staff. This was discussed at the exit interview.

  3. "First VP"

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

    I have been working at Flagstar Bank full-time (More than 5 years)

    Pros

    The bank is primarily a mortgage business and is heavily involved is all aspects from origination and underwriting to closing, sales, and servicing. Market trends are reflected as soon as the appear. The worker bees are a good group of folks trying to do the best they can.

    Cons

    Very poor senior management. Lip service to 'hire from within' is non-existent in practice. Top levels of management is a revolving door. Each new boss wants things their own way - which means they want all new reports/information in addition to all the legacy deliverables. There is a failure to dig into the details.

    Advice to Management

    Listen to your staff. If you can get them to provide suggestions without fear of reprisals, you'll hear some good and helpful suggestions.


  4. "IT Systems Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends

    I have been working at Flagstar Bank full-time

    Pros

    Really starting to recognize employees

    Cons

    Can't think of anything off hand


  5. "Worst employer"

    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
    Approves of CEO

    Pros

    Sandro has done a good job and wants this company to succeed, the problem is underneath him.

    Cons

    The retail side of the company is ran by bullies imposing ideas on how to sell more without excuses. These same ideas change periodically not giving the company clear direction. There is no support, just demands. The turnover is extremely high as they don't really care for their employees.


  6. "Financial services"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Base salary and you get compensation for gas when you go to training.

    Cons

    You are forced to stand rather than sit behind the desk.


  7. "Trending upward"

    StarStarStarStarStar
    • 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
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Flagstar Bank full-time (More than 3 years)

    Pros

    Starting to focus on implementing strategies and processes that have a long-term outlook. Diversifying revenue streams, which is improving profitability. Beginning to spread the rewards to employees.

    Cons

    Need to update systems. Communication between business units could improve.

    Advice to Management

    Need to improve management and HR transparency with employees. Continue to develop talent.

  8. "work life"

    StarStarStarStarStar
    • 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


  9. "Decent company, terrible benefits"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Bank Teller in Lansing, MI
    Former Employee - Bank Teller in Lansing, MI

    I worked at Flagstar Bank part-time (Less than a year)

    Pros

    Good working environment, decent support from management for lower level employees.

    Cons

    Cut part time hours to a maximum of 18 hours per week. No part time benefits, full time benefits aren't great either. Branch systems very out of date.

    Advice to Management

    Take better care of your employees.


  10. Helpful (2)

    "Getting better"

    StarStarStarStarStar
    • 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

    Pros

    Beginning too listen to an show interest in retaining employees. This has been a long time coming but some stability is taking shape. The direction of the bank is stabilizing and management is beginning to resemble leadership

    Cons

    too many fiefdoms. It is a fragmented sea of small minded middle managers hanging on for dear life.

    Advice to Management

    Keep moving in the direction you are headed


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