Flagstar Bancorp Reviews

Former Employee – worked at Flagstar Bancorp full-time for more than a year

Pros – Health insurance is not bad.

Cons – No flex scheduling, must work 8:30 - 5 with an hour lunch, 37.5 hour work week instead of 40

Advice to Senior Management – You will continue to lose employees to other mortgage companies and banks that offer better pay and 40 hour work weeks, and flexible scheduling.

No, I would not recommend this company to a friend

Current Employee – been working at Flagstar Bancorp full-time for more than a year

Pros – Competitive pay, normal hours, good benefits, good PTO, opportunity to move up

Cons – HR is VERY slow processing promotions, 5+ years before PTO increase or promotion, poor executive management structure ("reorganizations" are very common. Ive been hear 14 months and already 3 reorgs in my department)

Advice to Senior Management – Pay UW's and lower level managers better because you are losing them to competitors, provide a better promotion from within plan.

Yes, I would recommend this company to a friend

Current Employee – been working at Flagstar Bancorp

Pros – BPS per loan are good for a bank

Cons – Not a clear direction of where company is headed

Former Employee – worked at Flagstar Bancorp part-time for more than a year

Pros – Opportunity to make decent and above average income, great subordinate culture, independence in sales attainment, somewhat supportive management (every manager is different; some great some not so great)

Cons – Commission pay two months out, opportunities for promotion beyond personal banker is difficult and unlikely, positions are available as they are available, no succession planning, very quota/sales driven, new ideas and creativity looked down upon

Advice to Senior Management – Be realistic in employee expectations, get insight from the bottom line, inform before implementation

Yes, I would recommend this company to a friend

Former Employee – worked at Flagstar Bancorp full-time for more than 3 years

Pros – Small bank environment work not overwhelming

Cons – Roles not defined, low pay and poor benefits

Advice to Senior Management – Communication

No, I would not recommend this company to a friend

Current Employee – been working at Flagstar Bancorp full-time for more than 10 years

Pros – Good people, flexible hours, nice building

Cons – No where to grow unless you are in with upper management.

No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

Former Employee – worked at Flagstar Bancorp full-time for more than a year

Pros – Great schedule, 3 week vacation

Cons – pay, responsibilities, little advancement, Cash handling

Advice to Senior Management – nothing

Yes, I would recommend this company to a friend

Current Employee – been working at Flagstar Bancorp full-time for more than 3 years

Pros – The only pro is that fact they have health insurance for their employees.

Cons – Working at Flagstar was the worse decision in my life!! They micromanage everyone even the Managers who are meeting their goals. They spend over three hours per week on conference calls of which every discussion is based on what you are doing wrong!!! It is counterproductive and draining. Limited staffing is in the branches and they want the managers to go on business calls but how can they if they are running transactions? If you do not speak the same verbiage as the Market Manager or beat to his drum then you will be targeted for termination.
Overall, they are adding more people to the upper management team while removing people from the branches. I can honestly say that it is the worse bank to work for in Michigan!!

Lastly, micromanagement to the ultimate level is the fact that they record every conference call so that the market manager can listen to ensure we are using his verbiage. WOW!!!
I am looking for a new job because I have to get out of that toxic bank

Advice to Senior Management – The senior management should come to the branches and observe the stress level of the staff. They should focus on providing the team with the proper tools and resources so that they can be successful in their position. In addition, limit the number of weekly conference calls and take control of the out of control Micromanaging Market Manager.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

Former Employee – worked at Flagstar Bancorp full-time for more than a year

Pros – Ok benefits and time off

Cons – Hour Lunch turns the day into almost 8.5 hours / 7.5 hour days (37.5 hour work week).
Too many micromanagers (has to be a vice president for every 5 workers).
If you aren't friends with someone you don't move up in the company.
There is a reason they got out of two other markets..
Stick to one dress code.. Casual most of the week, once a week shirt and tie, etc. No one cares what they are wearing as long as it looks professional.

Advice to Senior Management – Recognizing people for their accomplishments is nice but when you don't offer them any promotions or compensation what's the point in staying?

No, I would not recommend this company to a friend

Former Employee – worked at Flagstar Bancorp full-time for less than a year

Pros – Exposure to C-level executives, talented managers, focused on professional development, good strategic goals by management, good benefits, responsive facilities team.

Cons – Lack of scheduling to to coordinate meetings, lack of available conference rooms, cubical environment located in high traffic areas and printers are located within cubical area can be very noisy/too much traffic, short on employee parking, no option to work remotely for non-meeting days.

Yes, I would recommend this company to a friend