Flagstar Bancorp
2.5 of 5 105 reviews
www.flagstar.com Troy, MI 1000 to 5000 Employees

Flagstar Bancorp Reviews

Updated Apr 01, 2014

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2.5 105 reviews

                             

57% Approve of the CEO

Flagstar Bancorp President & CEO Alessandro P. DiNello

Alessandro P. DiNello

(21 ratings)

33% of employees recommend this company to a friend
105 Employee Reviews
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Review Highlights

Pros:
  • "Good benefits work life balance"
    in 3 reviews
  • "Competitive pay, normal hours, good benefits, good PTO, opportunity to move up"
    in 4 reviews
Cons:
  • "There is little room for advancement and the leadership is constantly changing goals"
    in 3 reviews
  • "Low pay to start with, absurdly low considering"
    in 4 reviews
  • Show more review highlights

Reviews

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • No Opinion of CEO

 

Great people

Buissness Operations (Former Employee)
Troy, MI (US)

I worked at Flagstar Bancorp full-time for more than 3 years

ProsThe staff at this banking institution are amazing individuals.

ConsMiddle Managment is non-exhisting and under appreciated by upper Managment.

Advice to Senior ManagementStart assigning tasks to groups and instill a degree of accountability across functional areas.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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  • Culture & Values
         
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  • No Opinion of CEO

 

flagstar bank the bank of MI

Capital Markets Associate (Current Employee)
Bellevue, WA (US)

I have been working at Flagstar Bancorp full-time for more than a year

ProsBenefits / Hours / PTo /Vacation

ConsPay / advancement / na / na

Advice to Senior Managementna

Yes, I would recommend this company to a friend

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  • Culture & Values
         
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  • No Opinion of CEO

 

Decent company to work for.

Customer Service Support (Current Employee)
Troy, MI (US)

I have been working at Flagstar Bancorp full-time for more than 3 years

ProsThere is a friendly and positive atmosphere in the department where I work. People work well together and management is fair and supportive of employees.

ConsCompany is still working to overcome challenges of the down economy. Customer service agents present less than professional front to customers. Proper grammar should be a minimum requirement for agents. Frustrating that all employees, including salaried, are required to punch a time clock.

Advice to Senior ManagementImprove customer experience by hiring higher quality customer service agents to begin with and then take a look at training, especially servicing new hire.

Yes, I would recommend this company to a friend

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the company of spurious claims

Anonymous Employee (Current Employee)
Troy, MI (US)

I have been working at Flagstar Bancorp full-time for more than a year

ProsFriendly environment
401K and heath benefits offered

ConsThey preach ethics, but will write employees up based on accusations without definitive proof
It is nearly impossible to get in contact with the HR department
They do not match competitor salaries well. They pay as much as $8/hr less for wage earners
They advise their representatives to "sugar coat the truth"
They lie to their employees on a constant basis

No, I would not recommend this company to a friend

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  • No Opinion of CEO

 

Average conditions. Nothing special. Nothing horrible.

Insuring Specialist (Former Employee)
Troy, MI (US)

I worked at Flagstar Bancorp full-time for more than a year

ProsHealth insurance is not bad.

ConsNo flex scheduling, must work 8:30 - 5 with an hour lunch, 37.5 hour work week instead of 40

Advice to Senior ManagementYou will continue to lose employees to other mortgage companies and banks that offer better pay and 40 hour work weeks, and flexible scheduling.

No, I would not recommend this company to a friend

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  • Disapproves of CEO

 

Never move up

Anonymous Employee (Former Employee)

I worked at Flagstar Bancorp full-time for more than a year

ProsGood amount of time off and decenet benefits.

ConsThere is no way to move up in this company. If you leave the company, gain the necessary experience and come back they will hire you into a higher level position but will not train within the company. Most people seem unhappy.

Advice to Senior ManagementGet rid of the middle management. There focus maybe on a small team and only this small team. This leads to alot of open time on their plates. This then turns into alot of micro managing of employees due to middle managers thinking they are doing their jobs. In reality, they are doing nothing but hurting the environment of the workplace.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Very flexible with time off

Loss Mitigation Speciaist (Current Employee)
Troy, MI (US)

I have been working at Flagstar Bancorp full-time

ProsGood benefits work life balance

ConsPoor pay , no path to promotions, boring place to work

Advice to Senior ManagementNeed to change pay structure and make it a fun place to work

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Good leapfrog company, poor structure

Loan Analyst (Current Employee)
Troy, MI (US)

I have been working at Flagstar Bancorp full-time for more than a year

ProsCompetitive pay, normal hours, good benefits, good PTO, opportunity to move up

ConsHR is VERY slow processing promotions, 5+ years before PTO increase or promotion, poor executive management structure ("reorganizations" are very common. Ive been hear 14 months and already 3 reorgs in my department)

Advice to Senior ManagementPay UW's and lower level managers better because you are losing them to competitors, provide a better promotion from within plan.

Yes, I would recommend this company to a friend

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1 person found this helpful  

Review

Anonymous Employee (Current Employee)

I have been working at Flagstar Bancorp

ProsBPS per loan are good for a bank

ConsNot a clear direction of where company is headed

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  • Culture & Values
         
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Great sales experience

Personal Banker (Former Employee)
Jackson, MI (US)

I worked at Flagstar Bancorp part-time for more than a year

ProsOpportunity to make decent and above average income, great subordinate culture, independence in sales attainment, somewhat supportive management (every manager is different; some great some not so great)

ConsCommission pay two months out, opportunities for promotion beyond personal banker is difficult and unlikely, positions are available as they are available, no succession planning, very quota/sales driven, new ideas and creativity looked down upon

Advice to Senior ManagementBe realistic in employee expectations, get insight from the bottom line, inform before implementation

Yes, I would recommend this company to a friend

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Glassdoor is your free inside look at Flagstar Bancorp reviews and ratings - including employee satisfaction and approval ratings for Flagstar Bancorp CEO Alessandro P. DiNello. All 105 reviews are posted anonymously by Flagstar Bancorp employees.