Flagstar Bancorp

www.flagstar.com
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Flagstar Bancorp Reviews

Updated 23 February 2015
Updated 23 February 2015
150 Reviews
2.5
150 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Flagstar Bancorp President & CEO Alessandro P. DiNello
Alessandro P. DiNello
51 Ratings

Review Highlights

Pros
  • Some good people who mean well, but quality leadership is sorely lacking (in 7 reviews)

  • Competitive pay, normal hours, good benefits, good PTO, opportunity to move up (in 5 reviews)


Cons
  • And often changes in upper management in the last 3 or 4 years (in 7 reviews)

  • Flagstar has little room for advancement (in 4 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Flagstar is a good company going through a lot of hard times and difficult changes

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Business Analyst in Troy, MI (US)
    Former Employee - Business Analyst in Troy, MI (US)

    I worked at Flagstar Bancorp

    Pros

    Flagstar believes in constant improvement and there are lots of different areas to experience if you have other interests.

    Cons

    There is a lot of red tape and inconsistent structure

    Advice to ManagementAdvice

    Work with the other departments rather than competing against them.

    Recommends
    Neutral Outlook
    Disapproves of CEO
  2.  

    Exciting rapid pace of change with a great company!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Flagstar Bancorp full-time (more than a year)

    Pros

    A great work enviornment with some of the most knowledgable, experienced, and hardworking people in their fields. Team work is off the charts. The rapid pace of change and being at a company who is at the top of their industry is exciting. While a lot of the senior management has changed all the existing and new management are committed and very accessable. The culture is evolving and there seems to be committment from the top to continue improving it. Ability to provide feedback and see change is great. The corporate committment to grow and expand each business line provides a lot of opportunity. Employee recognition and development continues to grow. Employee perks for financial services is great. Really appreciate the work/life balance.

    Cons

    Past poor financial history and management has made it difficult to change the culture as this takes time. It continues to improve each day.

    Advice to ManagementAdvice

    Continue to build the culture and invest in development and accountability of employees. Further investment in technology internal and external.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Part Time FSR

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bancorp

    Pros

    Great people, good job while in school

    Cons

    Some customers can be rude.

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  5.  

    Good company to work for during a difficult period for banks.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bancorp

    Pros

    Exceptional work/life balance and culture.

    Cons

    Limited opportunities for upward progression.

  6.  

    The company has a high turnover rate

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Spoc in Troy, MI (US)
    Former Employee - Spoc in Troy, MI (US)

    I worked at Flagstar Bancorp

    Pros

    It is good to work their if you want to get quick knowledge. It is a fun work envirment

    Cons

    Don expect long-term goals with this company unless you like to work without career advancement.

    Advice to ManagementAdvice

    Catering to your employees determines the success of your company.

    Doesn't Recommend
    Negative Outlook
  7.  

    Constructive Criticism

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Service Representative
    Former Employee - Financial Service Representative

    I worked at Flagstar Bancorp

    Pros

    Good hours & that is it

    Cons

    For the branch I was in there was very lazy management. There was absolutely no team work it was one for all & all for one. There was absolutely zero coaching from management & they will throw you under the bus to keep their job. The blame game was all it was. Very unprofessional assistant manager who was judgmental towards not only customers but employees as well & had a reputation for not getting along with other workers.

    Advice to ManagementAdvice

    In the long run there's no success in laziness so watch your step.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  8.  

    Rotating Leadership, no results

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Management in Troy, MI (US)
    Former Employee - Management in Troy, MI (US)

    I worked at Flagstar Bancorp

    Pros

    Only area bank headquartered in Michigan.

    Cons

    Where does one start. The C-Level, Sr. Leadership and Management turn style is getting warn out. Many many "top guns" hired to come in and do a job and they don't execute. And no one following up on results. New people get paid top salaries and never really provide value. This leaves all of the overworked dedicated managers to pick up the pieces once again and perform under extreme deadlines for others lack of performance.

    Advice to ManagementAdvice

    Read resumes better, interview better, ask for proof of results.....pay middle management and sr. team members the right amount of money before they have to leave.

    Doesn't Recommend
    Disapproves of CEO
  9.  

    Rocky Ride

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Flagstar Bancorp

    Pros

    The company has benefits including healthcare, vision, dental, and life insurance.

    The company observes 11 holidays with pay, and now offers one paid community involvement day to participate in volunteer activities the company supports.

    The work environment is such that folks do work hard to solve problems and accomplish objectives at the individual level, department level, and organizational level.

    Cons

    The leadership turnover is crazy, which produces a whiplash affect on the employment base due to new directions, new processes, and new ideas of how they want things done.

    The out of pocket costs for premiums, co-pays, and co-insurnace are higher here compared to other employers I've worked for at the same level of coverage. This could be due to higher costs of healthcare overall, and/or due to the financial stability of the company.

    The payscales are published which show huge six-figure salaries, but good luck in ever really getting ahead via promotion or via substantive merit increases.

    The full time employee headcount is fixed which means new positions which could pay more cannot be created to allow promotions within, and the promotion opportunities that do exist are most often filled from the outside.

    The company lacks a 360 performance review of management to allow feedback on how they are performing, so your boss can get away with behavior that her/his boss doesn't even know about.

    Despite huge layoffs leaving only the best employees, the company has decided to make those who remain feel even worse about their individual performance by limiting the % of people who can get "outstanding" and "above average" performance ratings, and wants most everyone to be in the "meets" performance goals rating to pay little to nothing for our contributions.

    Advice to ManagementAdvice

    Communicate more often about the direction of the company, our progress and challenges to overcome.

    Improve compensation for non-commissioned staff. People work for money - just like you. The more you pay, the more we want to work hard to get ahead too.

    Increase the paid time off. The amount of PTO is low.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Business Client Service

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Business Client Service in Troy, MI (US)
    Former Employee - Business Client Service in Troy, MI (US)

    I worked at Flagstar Bancorp

    Pros

    Paycheck every two week
    37.5 work week (pro and con)

    Cons

    Hours changed weekly
    No incentive programs
    No OT
    Progression to other departments nonexistent

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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