Rocky Ride - Anonymous employee Flagstar Bank Employee Review

1.0
Jan 15, 2015
Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

The company has benefits including healthcare, vision, dental, and life insurance. The company observes 11 holidays with pay, and now offers one paid community involvement day to participate in volunteer activities the company supports. The work environment is such that folks do work hard to solve problems and accomplish objectives at the individual level, department level, and organizational level.

Cons

The leadership turnover is crazy, which produces a whiplash affect on the employment base due to new directions, new processes, and new ideas of how they want things done. The out of pocket costs for premiums, co-pays, and co-insurnace are higher here compared to other employers I've worked for at the same level of coverage. This could be due to higher costs of healthcare overall, and/or due to the financial stability of the company. The payscales are published which show huge six-figure salaries, but good luck in ever really getting ahead via promotion or via substantive merit increases. The full time employee headcount is fixed which means new positions which could pay more cannot be created to allow promotions within, and the promotion opportunities that do exist are most often filled from the outside. The company lacks a 360 performance review of management to allow feedback on how they are performing, so your boss can get away with behavior that her/his boss doesn't even know about. Despite huge layoffs leaving only the best employees, the company has decided to make those who remain feel even worse about their individual performance by limiting the % of people who can get "outstanding" and "above average" performance ratings, and wants most everyone to be in the "meets" performance goals rating to pay little to nothing for our contributions.

Explore other reviews about Flagstar Bank

5.0
Feb 27, 2026
Recommend
CEO approval
Business Outlook

Pros

Very knowledgeable and helpful people who are experts in enterprise systems

Cons

N/A during my time with the company

2.0
Mar 10, 2026
Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Benefits are decent. Average PTO

Cons

My experience with this company has been disappointing. Branch goals are unrealistic with no marketing or brand awareness to support the high goals and teams feel defeated. Senior leadership often communicates in a demeaning way, which has contributed to high turnover and declining morale. Despite emphasizing the importance of ‘hiring right,’ the President of Consumer Banking has cycled through three heads of Consumer Banking in just three years. The annual review process is long and drawn out (5 month process) and feels inconsistent and more like a popularity contest than a true evaluation of performance. Although the scale ranges from 1–5, employees are told that most ratings will fall in the 2–3 range, with 4s being rare and 5s essentially unattainable. The calibration process appears to focus more on filling predetermined rating quotas than assessing actual contributions. Employees are required to write their own reviews, which are then rewritten by leadership before being sent to HR for calibration. The final ratings often seem influenced more by internal politics than by merit. Annual increases are very minimal or zero. Overall, the environment lacks transparency, fairness, and genuine support for employee growth.

5
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