Washington Mutual Reviews | Glassdoor

Washington Mutual Reviews

39 reviews

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39 Employee Reviews

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

  • The work environment was pleasant (in 14 reviews)

Cons
  • Bad industry coupled with bad decisions at the senior level have impacted stock and goodwill among customers and employees (in 6 reviews)

  • Competitive, subprime lending downfall for the company (in 10 reviews)

More Pros and Cons

  1. Helpful (1)

    "It's a paycheck... today, anyway."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Ops Analyst in Jacksonville, FL
    Current Employee - Business Ops Analyst in Jacksonville, FL
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Right now, I can't think of a thing.

    Cons

    Wondering if you'll have a job tomorrow.

    Advice to Management

    Shame on you!


  2. Helpful (1)

    "WaMu Review"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Lead Financial Analyst in Seattle, WA
    Former Employee - Lead Financial Analyst in Seattle, WA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    It's in Seattle, and it's a job. They have reasonable benefits.

    Cons

    It's huge and losing gobs of money. It's very bureaucratic.

    Advice to Management

    Learn how to assess risk. Don't enter markets unless you understand them.


  3. "WAH MOO"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Project Manager in San Francisco, CA
    Former Employee - Project Manager in San Francisco, CA
    No opinion of CEO

    Pros

    If you need money.....for catfood, dogfood, birdfood or fishfood, they can supply it. If you are an asskissing shlub, regardless of your talent or competence, they will take you on. If you are looking for a longterm career, accomplishing nothing and expect to be promoted by default, they can accomdate you. If you would like to invest all or part of your 401K in company stock and then watch that stock fall through the floor, join the team. If you support a company who utilizes a voice mail system which it intended to frustrate and block customers from reaching employees, which utilizes outsourced services in outer slobovia, which designs products with "gotchas"....then welcome aboard.

    Cons

    They cannot fix stock prices by treating customers like pawns

    Advice to Management

    Do your own banking at the bank...under cover....and experience the frustration that customers experience


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  5. "Be honest about the state of the bank"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Technology Group Manager in Seattle, WA
    Current Employee - Technology Group Manager in Seattle, WA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    It was pretty interesting at first with the amount of change that was going to be undertaken around data (Oct '07); however, there isn't any budget to invest in data management anymore.

    Cons

    The missteps on the subprime fiasco followed with the 50% shareholder dilution as well as turning JP Morgan down just points to a long and potentially ugly end to WaMu. Instead of hearing a frank and fair assessment of what the management team is doing to right the situation, I am told things like: "only listen to internal communication about the state of the bank, and to ignore the 10Ks, etc. that the company is filing with the SEC". It's a paraphrase, but that is not what you want to hear directly from one of the C-level execs.

    Advice to Management

    Be honest about the condition of the company. Quit the propoganda.


  6. Helpful (1)

    "No wonder the stock dropped 35 points."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Personal Financial Representative in Palo Alto, CA
    Former Employee - Senior Personal Financial Representative in Palo Alto, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    WaMu has a great benefits package. Great rates on medical insurance. Great compensation for miles traveled beyond your normal work commute. Good PTO with 7 consecutive days off required per year.

    Cons

    Newer employees are not screened or trained properly. The working environment has become very unprofessional. We are encouraged to be unethical by management. I was not allowed to address my issues with management.

    Advice to Management

    I was told repeatedly to do things against my ethical judgment. When brought up with HR, my issue was brushed off. The company value is written on the walls, but the words spoken behind those walls are completely different.


  7. Helpful (1)

    "WaMu needs help."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Banking Loan Consultant in Chicago, IL
    Current Employee - Banking Loan Consultant in Chicago, IL
    Doesn't Recommend
    Disapproves of CEO

    Pros

    It was a good company. Good benefits good opportunity, etc.

    Cons

    The company being in survival mode has caused many bad decisions being made. And the company did not prepare enough for downturn.

    Advice to Management

    Customer service in the mortgage business has not been important. If we can not sell on price then we must have service. cost cutting has equaled service cutting which damages our reputation which was good.


  8. "Gone..."

    Star Star Star Star Star
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Got out before they went under.

    Cons

    They went under really fast.


  9. "Vice President Sales & Operations"

    Star Star Star Star Star
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Washington Mutual full-time

    Pros

    Stellar Sales History
    Self Motivated to Meet personal and organizational goals and residual objectives
    12 years experience in Merchant Services
    Certified Payment Professional
    extensive training in Handling client objections
    I am a sales person first, and I know how to close merchant clients. 75% closing ratio

    Cons

    Very critical on personal job performances

    Advice to Management

    Continue to always motivate your employees and prioritize time to help with each team member business objectives.


  10. "Bad company to work for"

    Star Star Star Star Star
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Great people to work with

    Cons

    A Very poor managed company



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