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Flagstar Bank Reviews

Updated 11 October 2017
86 reviews

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3.0
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Flagstar Bank President & CEO Alessandro P. DiNello
Alessandro P. DiNello
29 Ratings

86 Employee Reviews

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Pros
  • Good benefits good work life balance decent incentive plan (in 10 reviews)

  • Several good people there, but hurt through severe silos, political playing and very large turnover (in 13 reviews)

Cons
  • Lack of connection with upper management (in 16 reviews)

  • Low pay, small raises, not enough appreciation for veteran staff (in 9 reviews)

More Pros and Cons

  1. "Mortgage Operations"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Flagstar Bank full-time

    Pros

    Fair PTO policy & benefits, local, cares about community

    Cons

    Doesn't offer much training for employees, doesn't hire a lot internally


  2. "Great Company, Bad Upper Managment"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Branch Manager
    Former Employee - Assistant Branch Manager
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Flagstar Bank full-time (More than 10 years)

    Pros

    Michigan Based, Strong core values, Good Incentive Plans, Great benefits

    Cons

    Need more staffing in the branches, minimal assistance from upper management.

    Advice to Management

    Pay closer attention to branches that are short staffed. Staffing is light at it is, provide additonal support without relying on the branch staff to find help. They have enough on their plate at it is.


  3. "Former Emplyee"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Branch Manager in Westland, MI (US)
    Former Employee - Assistant Branch Manager in Westland, MI (US)
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at Flagstar Bank full-time (More than 10 years)

    Pros

    Great core values, Michigan Based and Focused, Excellent Retail Banking Products that sell themselves, fair incentive plan and great benefits package.

    Cons

    Lack of communaction and support from upper management, not enough staffing or support in the branches, below average pay and it is nearly impossible to advance.

    Advice to Management

    Provide more support in the branches. The worst thing that could have been done was removing area managers. It provided additional support, allowed more one-on-one time with upper management and quicker responses to questions and concerns. Flagstar leaves it to the branch to try to find their own help when short staffed. HELP THEM! They have enough on their plates then to have to call around to 15 different branches begging for float staff. You need to increase your FTE. It adds so much stress to everyone involved to be short staffed. Not only does it effect your employess, but the customers recognize it too.


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  5. "Banker"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Personal Banker in Detroit, MI (US)
    Former Employee - Personal Banker in Detroit, MI (US)
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Flagstar Bank full-time (Less than a year)

    Pros

    Good benefits good work life balance decent incentive plan. If you are thinking about making a career in banking Flagstar is an excellent place to start off and get your feet wet. I enjoyed my time there but couldn't stay.

    Cons

    Low pay, small raises, not enough appreciation for veteran staff. It seems very hard to transition out of retail banking. Even if you have experience in other areas. It seems once you start in retail banking you stay there.

    Advice to Management

    Increase the pay wages, open the door for mobility for experienced staff.


  6. "It's getting there..."

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Small bank feel, but it is growing.

    Cons

    Lack of connection with upper management.


  7. Helpful (1)

    "My Time at Flagstar"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend

    I worked at Flagstar Bank full-time

    Pros

    Co workers are like family, training (improves sales) career advancement and customers

    Cons

    Understaffed offices (since 2011), pay isn't great (you wear many hats, so imagine doing a job meant for 3 people) and very stressful (due to the aforementioned).

    Advice to Management

    Invest in office staff (overworking your talent will send them packing).


  8. "Senior Loan Officer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Loan Officer
    Former Employee - Senior Loan Officer
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Flagstar Bank full-time (More than 3 years)

    Pros

    Great Web-based Orgination Platform. Relatively good UW turntimes. Good referral lead volumes.

    Cons

    Pay Cuts Repetitive - took every opportunity under Dodd-Frank to reduce front line performers compensation.


  9. "Relationship Banker"

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

    Pros

    Benefits and paid time off

    Cons

    Pay isn't very competitive, training could be better


  10. Helpful (5)

    "Grow eyes in the back of your head"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Flagstar Bank full-time (More than 5 years)

    Pros

    I work for IT and used to love my job. I was engaged. I honestly looked forward to getting in early each day to get things done. I was absolutely loyal to my job and my immediate leadership.

    Cons

    I don't have that enthusiasm anymore. It was taken away by a paranoid, incompetent and meddlesome narcissistic management team who are more concerned with kissing business butt, their own advancement, and outsourcing jobs than putting out a good reliable product.

    Advice to Management

    Your IT department is in disarray, Sandro, and it is costing you $$ and talent. You need to get a handle on it or things will only get worse.


  11. "Software Development Intern"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Software Developer Intern in Troy, MI (US)
    Former Employee - Software Developer Intern in Troy, MI (US)
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Flagstar Bank (Less than a year)

    Pros

    Great community and environment, had to do no work outside of 5 pm

    Cons

    Very boring work, work was too easy and had no impact on the company or the work itself

    Advice to Management

    Let intern play a larger role in making the software


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