Flagstar Bancorp

  www.flagstar.com
  www.flagstar.com
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Flagstar Bancorp Reviews

Updated 14 September 2014
Updated 14 September 2014
129 Reviews
2.4
129 Reviews
Rating Trends

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

Review Highlights

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

  • Some good people who mean well, but quality leadership is sorely lacking (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.  

    Lots of excellent people to work with. Unfortunately the company was very unorganized which could be difficult.

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

    I worked at Flagstar Bancorp full-time for less than a year

    Pros

    Lots of excellent people to work for and a reasonable pay. There was pressure to get things done but management was understanding. They were also pretty flexible, I was also a college student at the time and they allowed me to leave early on multiple occasions to study and make it up later.

    Cons

    I had a difficult time growing there because there seemed to be lacking room for growth.

    Advice to ManagementAdvice

    Organize the company and create a corporate culture that encourages learning and personal growth

    Recommends
    Positive Outlook
    Approves of CEO
  2. 1 person found this helpful  

    For the most part, the experience was good especially in the beginning.

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bancorp

    Pros

    There was an increased emphasis in training and it's good to be exposed to some training that doesn't necessarily involve your job.

    Cons

    There were too many levels of management and not enough communication throughout. And often changes in upper management in the last 3 or 4 years. It's difficult for me to recommend Flagstar as a good place to work anymore.

    Advice to ManagementAdvice

    Involve everyone so they feel part of the process.

  3. 1 person found this helpful  

    Many futile attempts to get back on course...

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

    I have been working at Flagstar Bancorp full-time for more than 10 years

    Pros

    The job pays well, benefits are decent (they were better), a good place to get some "on the job" experience. You get all the bank holidays, and every Friday is a $2 jean day, with donations going to some local charity. Employees will vary rarely be let go for incompetence: good for the employee, but just another sign of poor management. The current CEO actually seems to care. He may not tell the whole story, but he's been mostly truthful in his town hall meetings and has attempted to provide monthly voice recordings on the state of the company through the employee's internal web site.

    Cons

    Many issues with company performance has led to multiple changes in upper management over the last several years. Even though the current CEO is trying to get the company back on course, there is a lot of leftover "garbage" in place. Middle management seems to have their own agenda, not wanting to participate in change or provide assistance, which in the end should help everyone. Some employees have been pulled aside for not meeting quota, and others for going over quota when there is not enough work to go around: just excellent example of "be average or you don't belong." And then mandatory overtime is implemented when there is again too much work; great if you're paid hourly, but bad for salary. It's gotten to the point where some salary employees have been told not to clock in anymore. Interaction between business groups is minimal, causing tasks to be done over and over due to lack of information, which would have helped to get something done right the first time. Some teams apparently feel superior and provide no assistance, and face no consequences in doing so. While some of this has slowly began to change, it is still a huge problem when attempting to complete a project that requires multiple internal resources. Middle management seems to have found a work around by hiring in contractors and "off shore" personnel when these tasks could just as easily have been done internally if some backbone were in place to better manage the employees. Thus, we now have wasteful spending when the company is looking to save money. In order to offset that cost, raises are minimal, promotions few (unless you're a manager), money is hidden / stolen from other projects, and there is usually a yearly employee layoff between Thanksgiving and Christmas to make the stock look good. Happy Holidays for those who are let go during this time...

    Advice to ManagementAdvice

    Middle management needs to be better supervised and/or cleaned out. Some of these managers came from a time of about 10 years ago when the company had its own internal management training program, the proverbial "blind leading the blind." New ideas from new middle management would help instead of relying on previous methods that has brought the company to its current situation.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
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  5. 1 person found this helpful  

    Worst place to work for

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

    I worked at Flagstar Bancorp full-time for more than a year

    Pros

    The commute wasn't bad at all

    Cons

    Everything; but especially senior management!

    Advice to ManagementAdvice

    Listen to your employees.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    interesting

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

    I worked at Flagstar Bancorp full-time for more than a year

    Pros

    balance and time off was good

    Cons

    too many changes in cfo, ceo

    Advice to ManagementAdvice

    Stop changing executive management

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7.  

    Awesome environment and great corporate/professional environment.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Secondary Marketing - Lock Desk  in  Troy, MI (US)
    Current Employee - Secondary Marketing - Lock Desk in Troy, MI (US)

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

    Pros

    Great environment, Culture is great and the age group has a large variance across the company.

    Cons

    None that I can think of. Possibilities are endless.

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    Management is constantly changing....lack of consistency

    • 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 for more than a year

    Pros

    Some really great people within the organization to work with, but many of them do not stay because their contributions are not valued. The work is interesting, and assignments are challenging.

    Cons

    Not enough management training
    lack of upward mobility
    focus of company seems to constantly change

    Advice to ManagementAdvice

    cross train employees, better 401K benefits needed, work on retention of quality employees.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  9.  

    Underwriter

    • 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

    Nice supervisors and regional managers

    Cons

    Upper management give very poor career advise and are ungrateful.

  10.  

    A mishmash of slop

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

    I worked at Flagstar Bancorp full-time for more than a year

    Pros

    Some good people who mean well, but quality leadership is sorely lacking.
    Good pay

    Cons

    Takes forever to get approval for anything. Also, most people are so siloed that working between groups to accomplish anything was a nightmare. Also, the "old way" vs the "new way" was a constant struggle. Constantly changing executive team also leads to lack of sirection.

    Advice to ManagementAdvice

    Listen to employees. You have a lot of talented people, but have a need to ignore them and hire consultants for everything.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  11. 1 person found this helpful  

    Management lied consistently, too many layers of VP's. Title does not correspond with job ability at this bank.

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

    I worked at Flagstar Bancorp full-time for more than 3 years

    Pros

    A paycheck is about it.

    Cons

    Managers misled their own employees. Bank can't attract and keep top talent is not willing to pay for good talent. HR department is poorly run and consistently lied to employees. Too many CEO changes within last year which indicates poor executive leadership.

    Advice to ManagementAdvice

    The problem is they didn't listen to anyone while I was there and caused more fires than were needed.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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