Flagstar Bancorp

www.flagstar.com
Profile Unclaimed

Flagstar Bancorp Reviews

Updated 23 February 2015
Updated 23 February 2015
41 Reviews
1.0
41 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Flagstar Bancorp President & CEO Alessandro P. DiNello
Alessandro P. DiNello
41 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

41 Employee Reviews Back to all Reviews

Sort: Popular Rating Date
  1.  

    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
  2.  

    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
  3.  

    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
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5.  

    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
  6.  

    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
  7. 1 person found this helpful  

    Abusive Environment

    • 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

    I loved what I was doing and my customers but I had to quit because it was way too stressful working for a manager who was abusive towards employees in Orion. Many quit before and after I did and she is still there? This is the problem at Flagstar.

    Cons

    Terrible hours at branches. Dangerous environment. Locking a person in a branch by them selves after everyone had left for the day so they can run the drive thru a little longer and exit building by themselves!

    Advice to ManagementAdvice

    Don't leave people in positions because they are hitting their goals where employees are constantly leaving a location because of them. This is brining the company down. Don't value goals over good employees.

    Doesn't Recommend
    Approves of CEO
  8. 2 people found this helpful  

    Stressful place to work

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

    I worked at Flagstar Bancorp

    Pros

    Could work from home to avoid the physical contact from the boss throwing things at you. Work not that difficult.

    Cons

    Management is poor. Abusive. Management didnt allow having time off after a child or a loss of a child. HR doesn't want to deal with the issues. I've had a manager throw things, call people names, and then cry in meeting. Even if for short term, I would not recommend this place.

    Advice to ManagementAdvice

    Listen to your employees. A survey doesn't do a thing if changes are not made....didn't have to be painful or fearful to be at work and with nobody to help with the abuse. All you did was give her was another permotion; making her belive what she did was okay. She should have been walked out. I'm sure the people that really want to make the positive changes are not working with the right people to know what's really wrong. People are afraid to say something.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  9.  

    Great commisions

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

    I have been working at Flagstar Bancorp full-time

    Pros

    the leadership is hands on and constanlty expressing concerns as well as expectations

    Cons

    the leadership is counter productively involved.

    Advice to ManagementAdvice

    appreciate your employees

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 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 (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
  11.  

    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 (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

Work at Flagstar Bancorp? Share Your Experiences

Flagstar Bancorp

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.