Washington Mutual Reviews | Glassdoor

Washington Mutual Reviews

38 reviews

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38 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. "$20,000,000 v $5,000 - whose severance package would you prefer?"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Compliance Body in Irvine, CA
    Former Employee - Compliance Body in Irvine, CA
    Doesn't Recommend

    Pros

    It used to be because they seemed to be in touch with their customers with their funny "Stodgy Banker" ads and free checking. Then they lived a lie by telling everyone the bank was fine, all the time relying on the customers deposits as the reason they were in a "healthy position". Shame on you Kerry Killinger and others.

    Cons

    Management were totally distant..no recognition for a good job, just more work. I got a 50 cent pay increase in 4 years! Fishman, The CEO left after A MONTH with $20,000,000 dollars and most of the workers got between $5,000-$10,000. Disgusting.

    Advice to Management

    Resign.


  2. "too late. company no longer exists"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Internal Controls Analyst in Seattle, WA
    Current Employee - Senior Internal Controls Analyst in Seattle, WA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    used to be the core values and culture, but now what's left is quickly being assimilated by Chase. The only thing left are the branches, which are now Chase

    Cons

    Bad management ran the company into the ground. Obviously a big downside is that it doesn't exist any more.

    Advice to Management

    Too late now. Thanks for all your hard work in ruining a once proud company.

  3. "A nice place to work before the greed set in"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Seattle, WA
    Former Employee - Anonymous Employee in Seattle, WA
    Doesn't Recommend
    No opinion of CEO

    Pros

    My immediate coworkers were extremely warm and caring, and they cared about me as a person.

    Cons

    I worked in a functional area and didn't feel like there were a lot of people there I could learn from. I came to WaMu with years of Fortune 500 experience in my specialty, and many of the people I worked with seemed like they were in their jobs because they'd been with the bank for years and had just been promoted up through the ranks because they did what executives wanted them to do.

    Advice to Management

    Stay in banking if you can, since many of you would get eaten alive in other industries.


  4. "WaMu on its Last Leg as JPMorgan Chase Takes Over... Good Riddance!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - First Vice President in San Francisco, CA
    Current Employee - First Vice President in San Francisco, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Fair Compensation and Benefits, Reasonable Work/Life Balance, Challenging Business Problems to Solve and Lots of Opportunities for Improvement in Business Models and Processes

    Cons

    Even before the JPM takeover, senior management communication was poor, and the overall level of leadership from the VP-level up vs. other financial companies has been mediocre at best (particularly from former Providian managers). Lack of understanding and appreciation for work support groups provide by Marketing and other senior leaders.

    Advice to Management

    Learn from your mistakes... You poorly managed the company, its employees, and its reputation, and look what happened. Improve the quality and frequency of leadership communication to keep employees informed.


  5. Helpful (1)

    "Hold off until the dust settles"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Seattle, WA
    Current Employee - Anonymous Employee in Seattle, WA
    Doesn't Recommend
    No opinion of CEO

    Pros

    Work life balance was great before Chase acquisition - no idea what it will be like going forward

    Cons

    Current uncertainty surrounding recent acquisition by Chase

    Advice to Management

    Take your time in merging the two companies - really look and see where the talent is and who you should retain.


  6. Helpful (1)

    "Not a great working enviroment"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - PFR in Huntington Beach, CA
    Former Employee - PFR in Huntington Beach, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    WAMU will prepare to license all PFRs. PFR stands for Personal financial Rep. WAMU will help PFRs to get 6 and 63 licensed. For now, They are not looking for PFRs. WAMU has too many of them right now.

    Cons

    Washington Mutual Doesn't promote PFRs or doesn't allow PFR to transfer. Some branch manager will not allow top PFR to transfer, expecially, when they need your production.

    Advice to Management

    WAMU Management is a mess right now. eventually it will get better.


  7. "Sounds good on paper, but not a good place to work."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Corporate Communications in Seattle, WA
    Current Employee - Corporate Communications in Seattle, WA
    Doesn't Recommend
    No opinion of CEO

    Pros

    It's a big company and had a lot of positions and departments to choose from.

    Cons

    Now it's been acquired by JPMorgan Chase.

    Advice to Management

    Listen to employees at the front lines and middle management. Fix problems before they become too big to deal with.

  8. Helpful (1)

    "Horrible place to work...don't even think about it if you are driven, intelligent, and hard working"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President in San Francisco, CA
    Current Employee - Assistant Vice President in San Francisco, CA
    Doesn't Recommend
    No opinion of CEO

    Pros

    I really can't think of any good thing about working for WaMu! It really is a horrible place to work, most people are here simply for the paycheck. If you are seeking challenging employment, engaging and intelligent people, and ample career advancement opportunities, this isn't the company for you!

    Cons

    Everything about working at WaMu is a downside. The only thing I can think of is that it is a very stress free work environment, mostly due to the fact very few employees are motivated to perform. The company lacks incentives that draw top performers.

    Advice to Management

    I'd plead for Senior Management to stay at WaMu. This is a bit self serving as hopefully I won't have to work with these buffons at my next company.


  9. Helpful (1)

    "Never again."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Consumer Loan Services Account Representative in Bothell, WA
    Former Employee - Consumer Loan Services Account Representative in Bothell, WA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    They paid fairly well. I worked the call center in Bothell and that's why I took the job. It has since been relocated to India

    Cons

    As an employee you are a number and the customer is a number. They never cared if you helped the customer, so long as you got them off the phone in under 3 minutes. I was routinely punished for spending too much time helping customers with their jacked up loans.

    Advice to Management

    You're only as strong as your weakest link and regardless of how many hundred thousand customers you have, they should all be important.


  10. "Too much greed led WaMu to forget it should be a stoggie bank first."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Treasury Analyst in Seattle, WA
    Current Employee - Treasury Analyst in Seattle, WA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    I haven't been laid off yet, but it is sure to come now that JP Morgan Chase has taken over.

    Cons

    They are dead and gone since the FDIC sold us down river.

    Advice to Management

    Remember that you are "bankers". Bankers should be stoggie and careful with their depositors money. A bank should not be in ALT "A" and other sub-prime loans.


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