BofI Federal Bank "coffee machine" Reviews | Glassdoor.ca

BofI Federal Bank Employee Reviews about "coffee machine"

Updated Apr 26, 2018

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2.7
41%
Recommend to a Friend
53%
Approve of CEO
BofI Federal Bank President and CEO Gregory Garrabrants
Gregory Garrabrants
97 Ratings
Pros
  • "Fast-paced, great place to build technical skills and come across different problems(in 12 reviews)

  • "The coffee machine and free pretzels(in 8 reviews)

Cons
  • "No training program whatsoever, and no HR department(in 9 reviews)

  • "Also, those 5 star positive reviews by upper management are there to mislead you(in 9 reviews)

More Pros and Cons

Reviews about "coffee machine"

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  1. Helpful (18)

    "Beware"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I worked at BofI Federal Bank full-time for more than a year

    Pros

    Independence and self-starters encouraged. Lack of micro-management. Most of the workers are kind people. If you're a hard charger, thrive in a competitive environment and insults from management don't bother you, you'll do very well here (see Cons below). Great free coffee machine. Filtered water cooler Nice break room with free snacks and a vending machine. Free gym access. SD locations are in beautiful La Jolla. Great place to walk at lunchtime and many good restaurants within 5-10 minutes. Performance bonuses with cash and company stock. I recommend Bofi for athletes, former military, and those with a capitalist mindset - thick-skinned individuals who thrive overcoming difficulties to achieve goals.

    Cons

    Many of the managers are not kind people. A lot of changes underway, there's a lot of turmoil and instability here. You have been warned. It is not uncommon for someone to get so fed up and angry they quit on the spot. First time I ever saw that. I'm talking about experienced professionals, not snowflakes just out of school. Cubicles don't have the privacy wall. Completely open environment. Only certain managers get an office. Everyone is a VP of something. The title is so diluted it means nothing. These are not necessarily cons, just how it is: -It's a capitalist environment, you're expected to do more with less -It can be very stressful and demanding -Managers like to work...a lot, including weekends, and expect their teams to do the same. -Huge employee and management turnover. If you work here expect to be burned out in less than a year. -They'll sell you on the bonus. For the uninformed, the government takes 55+% of any bonus pay. Company stock does not vest for 3 years. If the bonus is your motivation, expect to be disappointed with the take-home amount. -Political skills definitely matter here. -Don't miss this: if you and your superior don't see eye-to-eye, there's no coaching. You'll be marginalized and stripped of your duties until you quit or you'll just be fired if they can find cause. Like I said, it's a competitive capitalist organization, just like the marketplace. Don't expect to be coddled. There's no hand holding here or layoffs. It's dog eat dog. To review, there are definitely positives to be found working here, but the reason for my negative review is I consistently saw good people treated poorly. Don't be arrogant enough to think you're immune.

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    BofI Federal Bank2018-04-26

    BofI Federal Bank Response

    June 16, 2018VP, Office of the CEO

    To the extent that a manager or other employee treats another employee with a lack of respect, this is something that we do not tolerate. Bonuses are taxed at a slightly higher rate as regular compensation and if bonus pay is withheld at a higher rate you can elect to change that or you will get a refund. It is interesting you point out that “athletes, former military, and those with a capitalist mindset” … who thrive overcoming difficulties to achieve goals” are a good fit, but you are not. We believe that any successful company is going to need people who can overcome difficulty to achieve goals. Goals in business worth attaining in a competitive environment are, by their nature, difficult. We have regularly achieved top-tier performance for the last decade. This type of sustained success is not easy and requires resourceful and dedicated people.

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  2. Helpful (11)

    "Avoid BOFI like the plague"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at BofI Federal Bank full-time

    Pros

    Coffee machines are amazing.

    Cons

    Everything else you can think of is a con. Read other review because they are not lying (except for the positive reviews that were obviously written by PR). Everything is based on fear and threats. Massive overtime is required. Daily yelling and berating people are daily occurrences, and the lies go on and on. Seriously, I would avoid it like the plague unless you are so desperate for money that you have to sell yourself as an indentured servant. A friend asked me about a job that was advertised and I had to laugh. I told him absolutely not. This place is a joke. Everyone I know is looking for another job. You do not want to be a part of this circus.

    BofI Federal Bank2018-03-26

    BofI Federal Bank Response

    April 6, 2018VP, Office of the CEO

    We believe this review is fake. It is extremely similar to other recent negative reviews which similarly provide no genuine knowledge of working here except praising our magnificent coffee machines and break room snacks. These reviews are also rife with misspellings, curious grammar and false statements. It’s getting old. We suspect these reviews are being generated by short-sellers of our stock, intending to create their own reality, and concerned that our stock price has nearly doubled in the last year despite their efforts to suppress it.

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  3. Helpful (8)

    "Why did I take this job?"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at BofI Federal Bank full-time

    Pros

    The coffee machine and free pretzels.

    Cons

    To many to list. I made a mistake and I don't want you to do the same. If you're trying to decide between bofi and another company,go with the other company. I had a choice and absolutely regret it. This place is like boiler room accept there's no cool parts. Managers and VPs walk around dropping F bombs, and swearing at their employees. Ave life span at this bank is 6 months to a year.

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    BofI Federal Bank2018-02-24

    BofI Federal Bank Response

    April 6, 2018VP, Office of the CEO

    We suspect this review is fake (and part of a series of similarly-worded fake reviews we have received recently). It makes the same tired references to our outstanding coffee machines, the language is poor, and it’s simply filled with inaccuracies without evidencing any real internal perspective of what it’s like to work here. But thank you for the opportunity to clarify for those reading this post that BofI is a regulated bank (not a “boiler room” sales environment) and that, in fact, we are one of the fastest-growing and most successful financial services companies in America for years running because of our attractive and diverse product set, our efficient way of doing business, the incredible opportunities for professional growth and becoming a shareholder available to all our team members, and due to the excellent service we provide to our customers. In fact, the office environment is fast-paced yet collegial (not profanity-filled) and average tenure is good and improving, particularly as team members appreciate the benefits of receiving stock as part of their bonus (a stock which has nearly doubled in price per share in the last year).

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  4. Helpful (10)

    "Compensation"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in San Diego, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at BofI Federal Bank full-time for more than 3 years

    Pros

    It is a job. Unlimited animal crackers in the kitchen. They do provide decent computers and dual monitors. They do provide water and great coffee machine. Nice Christmas party.

    Cons

    No office supplies. 401k is paid at the end of the year in stock. Bonus is paid in stock and cash usually 50/50. But the stock portion is vested. So they say 25% with 12.5% cash and 12.5% stock but really it is only the cash the first year so just 12.5% as only after the first year is your first bonus in stock 1/3 vested. So basically you do not get the 12.5% stock bonus until you have been there 4 years. If you come to work and do your job that is a 2 - needs improvement and not a 3 - meets requirements. They are also looking at ways to not reward employees rather than ways to reward them.

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    BofI Federal Bank2017-01-27
  5. Helpful (9)

    "Corporate World Job"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     
    Doesn't Recommend

    I worked at BofI Federal Bank

    Pros

    Nice lunchroom perks (coffee machine, animal crackers, Twizzlers, york candies)

    Cons

    Image is everything, company works off of lowest salary and fewest number of workers as possible. I was Logistics Specialist who had to do mail running, printer cartridge installs, lunchroom duties (stocking, cleaning), IT helpdesk (i.e. trouble calls), inventory, facilities (hardware requests, etc.). All of this was done by 2 Logistics Specialists serving 500+ employees

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    BofI Federal Bank2015-08-13
  6. Helpful (9)

    "Sr. Loan processor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Senior Loan Processor in San Diego, CA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at BofI Federal Bank

    Pros

    Only good thing was the Coffee machine

    Cons

    Unprofessional and unorganized, long way to go as an organization

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    BofI Federal Bank2015-06-15
  7. Helpful (8)

    "HR?"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee in La Jolla, CA
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I worked at BofI Federal Bank full-time for more than 5 years

    Pros

    It's in San Diego and it's warm year round. And they pay for parking, and all the pretzel, animal cookies, and red licorice you can eat. Oh yes they have high end coffee machines. That's the BOfI Bonus.

    Cons

    They promise bonus pay instead of market pay, but the truth is they have planned to downgrade all employees on annual reviews, so they will never pay the full amount of bonus regardless of how much you've worked.

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    BofI Federal Bank2015-01-05
  8. Helpful (8)

    "Need Sr. Management with less ego and who value good employees!!!!!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Mortgage Consultant 
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at BofI Federal Bank full-time for more than 3 years

    Pros

    Great people who become like family, hours somewhat flexible. Paperless. Easy leads. Good location, ok benefits. Casual office, nice coffee machines and decent granite in the kitchen.

    Cons

    Low pay, especially for mortgage consultants and processors, trying to be a bank on Wall Street with Sr. Management who don't care about long tenured employees, no loyalty for hard work, lie and spread rumors about terminations, NO HR DEPT!! The Sr. Management got rid of their processing manager wrongfully and now their running a department with their head cut off. Loan processing is a lot worse under current management. They need more experience!

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    BofI Federal Bank2015-01-17

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