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WaFd Bank

Engaged Employer

WaFd Bank reviews

3.2

49% would recommend to a friend

(296 total reviews)
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Brent Beardall

63% approve of CEO

41% positive business outlook

Ratings by category

3.6

Diversity & inclusion

3.5

Culture & values

3.5

Work/Life balance

3.2

Compensation and benefits

3.1

Senior management

3.1

Career opportunities

Ratings by demographic groups

Reviews by job title

296 reviews

Reviews about "Compensation"

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5.0
Oct 24, 2017

Great place to work

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Washington Federal is a great place to work. It has a relaxed workplace and friendly caring coworkers all the way up to senior management. Others have commented that the pay is below what other banks offer, but I've found that if work hard and contribute, they'll pay you generously. Additionally, for the six years I've been here, they have paid a very generous bonus (~15%) and contribute 11% to your 401k which broke nags a below market base salary up to what you'd expect some where else. Having worked with senior management in occasion, I can tell you they care about the employees and strive to make Washington Federal a great place to work.

Cons

Although the coverage is good, the health insurance premiums a little jig depending on which option you chose. Employee only is great and $50 a month, but if you need to insure your spouse, it's very high. It's actually cheaper to insure your spouse and kids than just your spouse. I know they were trying to offset insurance costs by raising the rates on the group they perceive to be best able to afford increases ( childless couple that make enough to have one partner stay home) but it also increased the premium on single income families whose children qualify for state insurance. If you live in WA that's probably most as you can make 80-100k and still qualify depending on family size. If that's you, plan to insure your spouse elsewhere.

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WaFd Bank Response
8y
Thank you for sharing your thoughts. We are glad to have people like you on our team! With the rising healthcare costs we do try to keep the premiums affordable for our employees. Thank you for bringing your concerns to our attention.
1.0
Oct 20, 2017

Company with good intentions but reputation affected unqualified managers

Support administrative officer
Recommend
CEO approval
Business Outlook

Pros

Financially stable, consistent production revenue, reasonable production goals, positive director under new and more progressive CEO, competitive benefits compared to industry with newly added vision plan, good 401K match, nice people on the staff level and some departments have good leadership so it can be rewarding if you have a good manager. Downtown Seattle location is a nice facility.

Cons

Unfortunately, the cons overshadow pros. Feedback is not appreciated but retaliated. Reputation of vindictive managers who retaliate. It’s been known that managers react vindictively when people leave. They are often asked to leave without cause and asked to vacate their position sooner even if a good-will proper notice was given. Low pay is a big factor but if total compensation is the model, then having a great company culture should be an emphasis. That is not the case. There are certainly managers here but few can truly lead. Department heads use fear tactics to intimidate people into silence. The general workforce is low skill and unqualified for their position due to entry level pay. Turnover is constant so getting work done is hard. Company is old school hierarchical and have the mindset of don’t speak if you’re not in a a pay grade that affords you that right. Being agreeable even if it’s wrong helps you climb the ladder and having a different opinion will make you an outcast. Don’t speak up if you don’t want to be managed out.

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WaFd Bank Response
8y
Thank you for the candid feedback. I am sorry that you feel that you could not speak up. My door is open and I am happy to get direct feedback for all employees. I believe strongly that we are stronger together than individually and want all involved in making us better. Please come see me
3.0
Oct 20, 2017

Underwriter

Mortgage underwriter
Recommend
CEO approval
Business Outlook

Pros

I love working for Washington Federal it is a great company with supportive management that allows for open communication. Company has a strong foundation and history I am proud to be a part of. Upper management seems dedicated to making changes to help move the company forward without compromising its base values.

Cons

I feel my salary does not reflect my experience and while I am told I am doing a great job (always appreciated) I feel I am under paid.

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WaFd Bank Response
8y
Thank you for your hard work and feedback. We are proud to have you on our team! Washington Federal is very much a "total compensation" company. While the base pay may be lower, when you factor in the semi-annual bonuses, 4% 401(k) match and 7% contribution, company-paid life insurance, low insurance premiums, paid time off, and our 'promote-from-within' policy, we feel our total compensation package is actually quite competitive.
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Glassdoor has 658 WaFd Bank reviews submitted anonymously by WaFd Bank employees. Read employee reviews and ratings on Glassdoor to decide if WaFd Bank is right for you.