BofI Federal Bank "no hr" Reviews | Glassdoor.ca

BofI Federal Bank Employee Reviews about "no hr"

Updated Jan 20, 2017

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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 "no hr"

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  1. Helpful (5)

    "Awful"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Client Service Representative in San Diego, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at BofI Federal Bank for more than a year

    Pros

    Honestly I don't have anything positive to say. My entire experience has been lackluster. I guess 3 weeks paid vacation is nice.

    Cons

    Pay is low and salaries are assigned arbitrarily. No training program whatsoever, and no HR department. Favoritism abounds.

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    BofI Federal Bank2017-01-21
  2. Helpful (10)

    "Play the game"

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

    I have been working at BofI Federal Bank full-time for more than a year

    Pros

    Banking holidays, beautiful people, but you can't touch. Nine to five shop. If you manage to stay for about 3 years or more (average life span is a year), bonus could add up. CEO is ambitious.

    Cons

    Upper management plays game. Middle and lower management doesn't know what they're doing. No HR, which to protect the company and it's employee. If the choice is between unemployment or BofI, the choice is obvious. If you drink the cool-aid, you may go far there. Common sense and logic are rare. Employee are treated like a commodity and you can be replace by the next un-qualify person who just needed a job and willing to put on a bs smile and act like they drink the cool-aid

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    BofI Federal Bank2016-05-05
  3. Helpful (21)

    "Work here if you've given up in life."

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

    I have been working at BofI Federal Bank full-time for more than a year

    Pros

    The parking is free - once you get employment here.

    Cons

    Have you given up on life? Do you crave the monotony of a dead-end job? Bofi is the right company for you! After you pass their wunderlic test, hang your brain up at the door because you won’t ever need it again. Bofi doesn’t want you to think too hard at your job because once you do, it becomes painfully obvious that this bank is a giant shady cluster. If you’ve ever tried to open an account with them, it only takes a whopping 40 minutes of sitting on their new account-processing page for one to contemplate where their life went wrong and how any sane human being would want to open an account with a business called ‘Bank of Internet’. However their in-house marketing team is quick to boast how big their numbers are and how many leads they generate from their eyesore, 75-box RMI forms. But how can marketing be blamed? It’s just run by perverted old men breathing heavily over hot bimbos who wouldn’t know the difference between their head and a hole in the ground. Sadly, hiring incompetent attractive people is not limited to marketing, but for all departments. Just look at the kids hired for the Chief of Staff in the OCEO’s department. This is what happens where there's no HR. In summary, Bofi just needs fresh meat to keep in their grinders until they sell the whole thing off to some other bank. They will lowball you on the base salary and lie about how big your bonus is. What ends up happening is that you will be let go before bonuses come out or tell you that you suck and only top performers get a full bonus. It won't matter what metric you put in for measuring your performance, it will be fleeced by your boss, their boss, and the department head to pad their own bonuses. This company's philosophy is ‘put out big numbers, lie their rear off, and pray someone will buy this worm-eaten, rotten apple while the skin appears red and shiny’. I'm quitting soon so I don't give a you know what anymore.

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    BofI Federal Bank2016-04-14
  4. Helpful (13)

    "Awful."

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

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

    Pros

    Decent offices/facilities, although no facilities maintenance. Walking distance to great lunch and shopping options at UTC mall and nearby if you're at the HQ building. There are some truly talented people working there. Good place to learn about the banking industry, but not much else. I wouldn't wish this place on my worst enemy.

    Cons

    This is the absolute worst place I've ever worked. For starters, they low-ball you and offer a below market-salary, but try to entice you with a bonus (half cash, half stock). What they don't tell you is the stock takes three years to vest, and virtually no one is with the company long enough to realize any profit from that, not to mention their stock price has tanked in recent months due to a regulatory scandal. You are a commodity; senior management sees everyone as replaceable, and as such, the pay reflects that. And has been said previously, no HR department. If you have a problem, you're pretty much on your own. Bizarre, narcissistic, egotistical senior management; you are expected to drink the Kool-Aid. It's the BofI Way™ (read the values pamphlet written by the CEO you're given when you're hired, it's like reading a Chick tract). Virtually all of the decisions, including hiring, and technical, are made by the Chief of Staff, and as such, the company is very slow to make decisions, or invest money in it's infrastructure, people, or business development. For an internet bank, the technology is subpar. When I started, I was given a 3 year old laptop that was inadequate, beat-up, and woefully underpowered for my work. When I asked for a newer one, the response was "The Chief of Staff is trying to save money, so we can't order new laptops. And we have to swap people out who haven't connected to the VPN in over 30 days with desktops." Seriously? One day in January, the whole office network went down, and there was no e-mail, or access to file shares. No failover, so the whole company was at a standstill the whole day, but they didn't send anyone home. Cost cutting strikes again.The applications that most of the employees use are straight out of 1995 and should have been retired years ago (I'm looking at you Silverlake/PC Lender). High attrition seems to be the norm here. I started with a group of 10 other employees on the same day. When I left, only one person from that group was left, all of the others had left for better opportunities. And because of the high attrition rate, not many people know how to actually do their jobs, there is no staff continuity. There is zero training, zero career growth. You will stagnate.

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    BofI Federal Bank2016-04-13
  5. Helpful (11)

    "Bait and Switch"

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

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

    Pros

    Ability to gain great insight on how NOT to run a company. Can learn alot about the inner workings of a bank Very in-depth and intense performance review process There are some exceptionally talented people

    Cons

    Terrible working environment (10 hour work days are the norm). under market pay bait and switch compensation package (you will never get your stock and they know it) amatuer middle managment (Management purposely recruits untried managers because they accept less money) cultish loyalty is expected. No, it is demanded. If you are not a rabid devotee, you will be let go. Every review cycle features at least 10% of the workforce being let go due to "performance issues". This is just a way to cut costs and avoid diluting stock. Best practices are not adhered to - especially for IT. no matter your position and performance, you are not viewed as a valued member of the team. HR is run by an individual with no HR experience except for demeaning employees and their contributions. Do not use medical or FMLA leave, they will fire you.

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    BofI Federal Bank2015-10-14
  6. Helpful (4)

    "Dynamic work place with constantly role maneuverability - keeps it interesting!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Anonymous 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at BofI Federal Bank

    Pros

    Flexible schedule, hands-off managerial approach, freedom to explore new areas of the company, multitude of tasks to choose to pursue, plenty of room for growth and advancement, self-motivated staff, strong semi-annual bonuses

    Cons

    No HR dept, weak facilities maintenance

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    BofI Federal Bank2015-03-25
  7. Helpful (9)

    "A very unhappy atmosphere and no HR department"

    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 less than a year

    Pros

    The offices are nice, the location is nice, some very friendly co-workers, good benefits and decent pay.

    Cons

    The negatives overlooks the positive aspects of working here. No HR so their can be a lot of unprofessionalism. No structure to work, job description is useless, and everything is a mess. Most people seem to be unhappy and treat others with less respect if they're higher or get paid more.

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    BofI Federal Bank2015-03-28
  8. Helpful (15)

    "Here today, gone tomorrow"

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

    I worked at BofI Federal Bank full-time

    Pros

    Coworkers are awesome and easy to commiserate with about this place. Location is great, near UTC and major freeways - but that's about it. Can you make a name for yourself? Sure, but you won't want to be here long enough to move forward with the company.

    Cons

    Where to begin - culture is awful. You could be working with someone one day, then the next day (or even the same day) they are no longer with the company. It's hard to feel welcomed at BofI Federal Bank when the higher-ups feel you are no longer needed and there's no explanation about those who are fired. And when you are told of someone's absence, it's in a hush-hush manner and brushed off like it's nothing. Second, this place has terrible leadership. People in charge act like they know everything, but it gets delegated to the peons who mean well but get screwed over if things don't go well. Third, there is no HR department. That's right, no HR, so if you have any issues within your department, you either suck it up or risk getting fired (see the first paragraph). You're better off sticking a hot fork in your eye than work here - hate to be the bearer of bad news, but one candidate saved is a win.

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    BofI Federal Bank2015-03-12
  9. 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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