IndyMac Bancorp Reviews | Glassdoor

IndyMac Bancorp Reviews

Updated February 17, 2017
51 reviews

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Full-time Part-time

51 Employee Reviews

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  1. "OK Experience, but a lot of initiative taken upon yourself for personal growth in your career"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Programmer Analyst in Pasadena, CA
    Former Employee - Senior Programmer Analyst in Pasadena, CA
    No opinion of CEO

    Pros

    In terms of IT, the best reason to work there is the numerous resources that is afforded for the company.

    Cons

    The downside is the excessive specialization of every department. So, it is tough for a person to personally understand how to create an enterprise system.

    Advice to Management

    Reevaluate the value of every employee. See if more involvement can lead to better growth in the company.


  2. "Looking for a chill part time job while gaining skills for the future?"

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

    Pros

    They have fairly easy bonuses, and its a really chill job. You do learn professional skills that are necessary for any office position. If you wish to continue in the banking industry this job also teaches you about important information on IRA's, CD's and FDIC.

    Cons

    There really is not much opportunity to move up, or to get a raise.

    Advice to Management

    A more organized training process is much needed.


  3. "Overworked and underpaid"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - IT Specialist in Pasadena, CA
    Former Employee - IT Specialist in Pasadena, CA
    Recommends
    No opinion of CEO

    Pros

    It's a good place to start off your career. The managers in our department are great with letting us take time off. Easy job. Great HQ location

    Cons

    Overworked employees, health benefits, PTO accural, not big bonuses, no OT available, no training

    Advice to Management

    Try to change culture of a company. Try to compensate emplyoees more with what they are worth.


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  5. "don't bother applying unless you've applied everywhere else first and are really desperate for a job"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Consultant in Irvine, CA
    Former Employee - Loan Consultant in Irvine, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    If you couldn't find a job anywhere else

    Cons

    Senior management has no idea how to run a company and doesn't begin to know what employees need. Management constantly talks down to the employees and calls them "Professionals" while treating them like children.

    Advice to Management

    There's so much potential at this company and it's all being wasted. Speak to the employees that are on the front lines and stop making decisions based on experience that has no relevance in this market. Your support personnel are being paid more than your sales people who are starving with their antiquated 100% commission pay plans. You can't expect anyone to earn a living based on pay plans created during the boom. You can't expect good talent to stick around when you treat them like children and don't give them the opportunity to produce and earn a living.


  6. "not a good company"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Financial Analyst in Pasadena, CA
    Former Employee - Senior Financial Analyst in Pasadena, CA
    Doesn't Recommend
    No opinion of CEO

    Pros

    closer to home, near metrolink

    Cons

    the company is cheap in term of salary, benefits such as 401k, parking fees, profit sharing and raise
    the company is obsessed with performance evaluation, and tests given to new hires

    Advice to Management

    I left the company in April. The management was definitely undesirable. A great company does not need to be stingy about parking, benefits and excessive employee performance evaluation


  7. Helpful (1)

    "Indymac -- some managers are good but senior management sucks"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Helpdesk Support in Pasadena, CA
    Former Employee - Helpdesk Support in Pasadena, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    I got a lot of positive feedback from my immediate supervisors when I was there. All of my immediate supervisors were supportive. One even helped me get a different position within the company when senior management terminated the position that I was in.

    Cons

    Company was in serious trouble when I was there. You go to work and never know when your last day is going to be. Any day you can be fired, even if you are doing a great job. I almost got laid off twice. The first time, I got an email on Wednesday informing me that I wouldn't have a job come Monday. So in other words, I had two days to find a new job. Another time I narrowly avoided being laid off - - my immediate manager told found out through the rumour mill that senior management was looking for reductions in my department so I found a job two weeks before I was scheduled to be terminated.

    Advice to Management

    Stop dealing with these stupid subprime loans.


  8. Helpful (2)

    "Review for Indymac Bank"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    No opinion of CEO

    Pros

    1) Higher salary than other banks in the industry;
    2) Three weeks of vacation days (Assistant Vice President and above);
    3) Excellent benefits (medical, dental, vision, 401K, etc.);
    4) Nice facility; great location.
    5) Some managers promote work/life balance
    6) CEO and some senior executives updates employees on company news/status constantly.

    Cons

    1) Some managers lack relevant work experience and have very poor leadership skills;
    2) There are lots of politics in the office;
    3) Lack of career progression;
    4) Too frequent changes to the corporate structure;
    5) Employee morales are low;
    6) Some internal departments (e.g. IT Helpdesk) are not working very efficiently

    Advice to Management

    see answers above


  9. Helpful (1)

    "Stay away"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Underwriter in Philadelphia, PA
    Former Employee - Underwriter in Philadelphia, PA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Employees were great, compensation was great, also the benefits.

    Cons

    The stress level. The responsibility and the over work, they had a three tier system, red green and yellow. If you were in the yellow twice you lost your job. Let up on the stress, too much time and attention was focused on lists and reports not enough timeon moral and spirit. Not enough out the box thinking.

    Advice to Management

    Let up on the stress, too much time and attention was focused on lists and reports not enough timeon moral and spirit. Not enough out the box thinking.


  10. Helpful (1)

    "Don't work here!"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Marketing Manager in Pasadena, CA
    Former Employee - Marketing Manager in Pasadena, CA
    Doesn't Recommend
    No opinion of CEO

    Pros

    You really can't unless you're willing to work for lower wages/salary on the retail side of the bank. The rest of the firm has been shut down. When the bank was profitable, work was steady and everyone thought their boring, unchallenging jobs were secure.

    Cons

    Performance reviews are not merit based. It depends on how much you're able to brown-nose, be a yes-person, and backstab other people in the company so that you look like you're ahead of the crowd. They were also ranked against everyone in your job class. If you were an analyst, part of your review ranked you against all the analysts of your job grade regardless of what department you were in. Hours are longer for single, childless workers than they are for married parents. Have you ever stayed late to finish your boss' project because your boss had to take her daughter to non-school extracurricular activity like mother-daughter night, bowling, or bingo? The more incompetent you are at your job, the more likely you'll get promoted to VP status. The people who got laid off in July were told they were being laid off by conference call. How callous is that?

    Advice to Management

    Haha, except for MP everyone else resigned, gave notice, or got laid off. I'd say that for the new management team, don't let your profits or business plan be undermined by letting sales leadership take control of the entire organization.


  11. Helpful (1)

    "Good place if you like to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Manager - X in Pasadena, CA
    Former Employee - Manager - X in Pasadena, CA
    Recommends
    Approves of CEO

    Pros

    Everybody wants to get things done
    Your work is important
    Relatively less bureaucracy given how large the place is
    Relatively less politics because most people are competent
    Senior management does not treat you like an idiot who needs to be surrounded by cheerleaders. They give you intellectually honest answers and opinions

    Cons

    First two or three years will be rough, till you and the company kind of settle down.
    A lot of people leave within a year or six months
    Work pressure will be high
    Not much structure and process sometimes - can be frustrating depending on your personality type

    Advice to Management

    Try have fewer reorgs - so that the accountability is established and consistent. Too often important projects or initiatives fail or stall because of org changes.



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