Washington Mutual Reviews | Glassdoor

Washington Mutual Reviews

156 reviews

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Current Employees

3.5
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Washington Mutual Chairman & CEO JP Morgan Chase James Dimon
James Dimon
5 Ratings

156 Employee Reviews

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Pros
  • It had great benefits and recognition program that made the employees feel valued (in 17 reviews)

  • Stimulating environment, good pay, and great benefits (in 13 reviews)

Cons
  • poor business practices that led to company being seized by the FDIC (in 9 reviews)

More Pros and Cons

  1. "It was the best experience I had with any company I've worked for! I was treated with kindness and understanding!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Retirement Specialist in San Antonio, TX
    Current Employee - Retirement Specialist in San Antonio, TX
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Washington Mutual full-time (More than 3 years)

    Pros

    The customer service is great externally just as well as it was internally. I have helped people with their customer service techniques as well as paperwork filing which grew our efficiency as a group.

    Cons

    Challenges with my position included having to understand transfer paperwork from other financial institutions. There were some banks whom had their associates fill in the incorrect information to have the customer's retirement account transferred, but instead of sending it back through the mail, per protocol, I took the extra step and tried calling the bank and discussing this with their associate whom set up the paperwork. In the midst of things, this reduced my productivity, but instead of approaching the same situation multiple times with the same associate and same customer, it was necessary when I had some extra time.

    Advice to Management

    Training was hands on. Our group worked very well together becoming very productive and sometimes ahead of schedule. We went through a transition with moving all accounts from WaMu to Chase and while it was difficult, we experienced a great, positive attitude from each other to get us through the tough times. Unfortunately, the last 12 months we were there transitioning, we were under contract and when there was no work left, we were jobless. Chase did offer other jobs we were qualified for and most took the jobs offered, but I went back to college instead.


  2. "Decent company to work for"

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

    I have been working at Washington Mutual full-time

    Pros

    They were always changing things up, good or bad, depending on how much you like change. Tried to be costumer-centric. Held quarterly meetings to give employees the state of the company and keep them informed. Decent salaries and benefits, held annual employee appreciation events

    Cons

    When we got by JPMC, although at least we got decent layoff packages and job services.

  3. "Was great to be a WaMulian."

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

    I have been working at Washington Mutual full-time (More than 3 years)

    Pros

    Great location in downtown Seattle.
    Awesome co-workers.
    Compensation based on merit.
    Good career growth and potential for advancement (assuming the company persisted).

    Cons

    Subprime meltdown and Chase takeover.
    Finding out from the news that our company was no more.


  4. "Excellent company to work for. My position as a Senior Loan Consultant afforded me unlimited income potential."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Loan Consultant in Naples, FL
    Current Employee - Senior Loan Consultant in Naples, FL
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Washington Mutual full-time (More than 10 years)

    Pros

    They provided a monthly draw against my unlimited income as a commissioned employee (about $3,000/month). Annual trips for achieving Presidents Club - all expenses paid including exceptionally gorgeous hotels (upscall Hyatt / Marriott) usually at tropical destinations like Hawaii. Awards and recognitions at the annual banquet.

    Cons

    Be at quota and everyone will be happy. Even if you are not at quota they will support you any way they can in order to achieve that goal. 401k contribution was 10% up to the 10,000 mark annually. Guaranteed rate of return on same. Golden parachute after 5 years which was 10% of your annual income they they simply "gave" to you in an account that they held and managed until you left.

    Advice to Management

    Stop emailing so many memos!! Just have a weekly sales meeting / call from immediate supervisor to inform loan originators of policy changes. If it is so important that everyone must be informed that same day - then blast an email as "priority". Commissioned reps have more on their mind then to constantly check their email from corporate (expecially when they get several per day).


  5. "Great company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Funder in Bellevue, WA
    Current Employee - Funder in Bellevue, WA
    Recommends
    Negative Outlook
    Disapproves of CEO

    I have been working at Washington Mutual full-time (More than 3 years)

    Pros

    Excellent colleagues. We had a great time working together. The company was mostly respectful of employees during a very difficult time. Everyone always pulled together to make things work. Great culture of support, fun, and of course hard work.

    Cons

    Sad to see it end the way it did. I would have loved to have stayed on had it been possible. Working at Chase is just not the same. Much more corporate and less friendly. For that, I had to go.


  6. "Bad company to work for"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Great people to work with

    Cons

    A Very poor managed company


  7. "fun"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    diverse environment with plenty of opportunities to move around. Great facilities and comparatively nice work environment

    Cons

    the company no longer exists. CEO's toupee not as awesome as The Don's. Although close second

  8. "crazy fun times at work"

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

    Pros

    got to wear a suit

    Cons

    got to wear a suit all the time


  9. Helpful (1)

    "Company Review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate General Counsel in Seattle, WA
    Current Employee - Associate General Counsel in Seattle, WA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Washington Mutual full-time (More than 8 years)

    Pros

    Great people, great benefits, great job.

    Cons

    Extremely poor executive management who destroyed the Bank.


  10. "Great bank and opportunity, depending on your position"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Recruiting Assistant in Santa Rosa, CA
    Current Employee - Recruiting Assistant in Santa Rosa, CA
    Doesn't Recommend
    Neutral Outlook

    I have been working at Washington Mutual full-time (More than 3 years)

    Pros

    Focus on work-life balance
    Young company, with most employees in the 18-45 age range
    Good benefits
    Frequent 1:1 meetings with management
    Lots of communication

    Cons

    Performance reviews and expectations not in line with those advertized.
    Performance reviews were changed so that the vast majority of employees received a "3" out of 5, which meant doing your job well, but not enough for even a cost of living raise.
    Salaries for employees varied widely and sometimes had jumps of up to 50% of base salaries.
    Salaries are not in line with corporate standards for areas with higher cost of living.
    Frequent micromanagement
    No margin for any error, which was, of course impossible, even 97% was not good enough.


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