Washington Mutual Reviews | Glassdoor

Washington Mutual Reviews

Updated April 9, 2017
399 reviews

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399 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
  • 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)

    "Company Review"

    Star Star Star Star Star
    • 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.


  2. Helpful (1)

    "Good people hurt by bad decisions"

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

    I worked at Washington Mutual full-time (More than 10 years)

    Pros

    I was in a great group that drove enterprise finance support for the company. We had a lot of synergy and were recognized as subject matter experts in our roles. My manager was demanding but also collaborative and supportive.

    Cons

    Shame that so many good people who worked hard were impacted by such a short-sighted risk management strategy.


  3. "A rewarding experience"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Database Administrator in Seattle, WA
    Former Employee - Senior Database Administrator in Seattle, WA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Washington Mutual full-time (More than 5 years)

    Pros

    Career development
    Training opportunities
    Fair Recognition and Rewards

    Cons

    Once you are good in a field they were not encouraging or supportive of switching. Techies were discouraged from going into management for example.


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

    Star Star Star Star Star
    • 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.


  6. "Washington Mutual"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Teller in Atlanta, GA
    Former Employee - Teller in Atlanta, GA
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Washington Mutual full-time (More than 3 years)

    Pros

    I managed to get along with my bosses and my coworkers. I did like the benefits and all the employee discounts available.

    Cons

    I hated the fact that as a teller you had to stand up. Our stations were setup like a cell phone store but worse because there was an area for the customers to look around on the screen as you processed their transactions. This was invasive and uncomfortable for the employee. Now that I think about it, this was dangerous given that anyone could come in and easily physically assault us since it was a bank after all. I felt like WAMU did not care about our safety. My legs would hurt after a long day of standing up.

    Advice to Management

    Get your employees some chairs!! And put them behind a bullet proof window please!!!


  7. "Great company that went under."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Teller in Visalia, CA
    Former Employee - Senior Teller in Visalia, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Washington Mutual full-time (More than 5 years)

    Pros

    Great compensation compared to larger banks.

    Cons

    Unfortunately it went under however was saved by JP Morgan Chase.


  8. "It's about leadership"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Former Employee - Vice President in Seattle, WA
    Former Employee - Vice President in Seattle, WA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Washington Mutual full-time (More than 10 years)

    Pros

    The vision was exciting at first and I was proud to be a part of WaMu. I was able to do some of my best work, with some very creative and bright people.

    Cons

    Leadership--and by that I mean the C suite--got caught up in ego gratification and hubris. For the three to four years before the company went under it was all about the numbers.

    Advice to Management

    Learn from your mistakes and surround yourself with people who tell you the truth ... and then resist the urge to run them off if you don't like what you're hearing.


  9. "Great company---Culture was very good, but failure at senior levels ran the Bank into the ground."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative in Encinitas, CA
    Former Employee - Financial Representative in Encinitas, CA
    Recommends
    Disapproves of CEO

    Pros

    Good pay, benefits, culture. Support in-house promotion vs. outside hiring unless. Excellent stock options and benefits made this a good place to work.

    Cons

    Failure to see that risky lending practices and a greed for money took over vs. doing the right thing for the customer and the employees ended in the Bank failing.

    Advice to Management

    I think the Bank could have remained a strong and solid Bank if it wasn't for the loosing of lending guidlines and a "race to the bottom" to approve any and all loan applications. Housing prices, borrow incomes, and FICO scores, are always a snap shot in time---and while that is how all loans are u/w placing more conservative guidelines could have made all the difference!


  10. "I really miss working for this company, they were so good to their employees"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Branch Manager in Las Vegas, NV
    Former Employee - Branch Manager in Las Vegas, NV
    Recommends
    Disapproves of CEO

    Pros

    rewarded for hard work, ability to promote within the company

    Cons

    they went out of business

    Advice to Management

    should have focused more on the branches instead of home loans


  11. "Brief, but intense"

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

    Pros

    Quality enthusistic, engaged and hard working team.

    Cons

    Commuting into the city was difficult for me


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