Flagstar Bancorp

  www.flagstar.com
  www.flagstar.com

Flagstar Bancorp Reviews

Updated 22 October, 2014
Updated 22 October, 2014
135 Reviews
2.5
135 Reviews
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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

Employee Reviews

Sort: Popular Rating Date
  1.  

    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 (more than an 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
  2.  

    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.

  3.  

    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 an 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
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  5.  

    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 (more than an 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
  6.  

    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 (more than an 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
  7. 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 (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
  8. 2 people found this helpful  

    Company does not have a clue where it's going and how it's going to get there.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Branch Management - Assistant Vice President in Grand Rapids, MI (US)
    Former Employee - Branch Management - Assistant Vice President in Grand Rapids, MI (US)

    I worked at Flagstar Bancorp full-time (more than 8 years)

    Pros

    Flagstar bank has some extremely loyal employees who love what they do and wants this company to succeed.

    Cons

    The retail banking side of Flagstar is very unfocused. Weekly, if not daily focus is changed on a dime with no thought on how this affects the customer and it's own employees. Market managers are unwilling to listen to their own employees as to what the front line is hearing from it's customer base and when things are brought to middle managements attention it is just ignored. Market Managers use fear as a motivation, although this may work in the short term it will ultimately come back to haunt you in the end.

    Advice to ManagementAdvice

    Flagstar Bank used to be a place where the "open door policy" was actually that. Start listening to the people on the front lines and pay attention to how your Market Managers are treating your branch managers and front line employees. Sandro, you are a fantastic leader but have lost focus on the retail banking side. Look closely at who you have running that part of the ship, you may be surprised at what you find out. Lastly, bring back the good ole days when we enjoyed walking in the door every morning instead of this fear that this may be your last day of employment because of your micro managing Market Mangers with no heart or soul.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  9.  

    The higher the skirt, the higher the promotion!

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

    I worked at Flagstar Bancorp full-time (more than 8 years)

    Pros

    There are a lot of good people, but also a lot of fake people. Be careful!

    Cons

    The fake and disingenuous people get the promotions. From hidden job postings to job postings that are only up for a few hours, even HR is in on the act. For every awesome person working hard, there are two lying and cheating to become the boss's favorite.

    Advice to ManagementAdvice

    Cut the crap. Require EVERY single job to be posted for at least 14 days and make sure everyone in the department knows so the best candidate can be found. Be honest with your employees and quit back door dealings that screw other people over.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 1 person found this helpful  

    Big Mistake ...

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

    I worked at Flagstar Bancorp full-time (less than an year)

    Pros

    I don't have anything good to say about Flagstar. Just moving on...

    Cons

    The worst time of my 20+ year banking career.

    Advice to ManagementAdvice

    Sell the Bank.

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

    I've actually heard from someone that 'We work for peanuts...'

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

    I worked at Flagstar Bancorp full-time (more than 8 years)

    Pros

    Everyone is pretty much friendly and tend to work and get along together quite often in my experience.

    Cons

    There are areas or departments where employees are quite under paid and takes long periods of time for small monetary increase , but management always expect for constant hard work and dedication.

    Recommends
    Neutral Outlook
    No opinion of CEO

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