BofI Federal Bank Employee Reviews

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Stay away from BofI
analyst (Current Employee) –  San Diego, CAAugust 3, 2018
I would not work here as they do not care about their employees. I have seen them do some very unethical things and I would highly recommend learning from a company that prides itself on being honest, fair and balanced. BofI Federal Bank is the worst job I have ever had and the reviews tell the story. I would stay away no matter what. It is not worth it!
Pros
Free water, coffee, and Liptons Tea
Cons
Do not care about employees, Pay is VERY low, Turn over is VERY high, Horrible management that doesn't care about its employees
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Stressful envronment lack of managrment skills
Sr.loan Processor (Former Employee) –  Las Vegas, NVJune 16, 2018
Very stressful poor mgmnt
Lack of caring for others
Employees are treated like machines not people
Clients are treated with some respect but not much.
This company only cares about how much money they can make and they do not always follow guidelines.
This company does not believe in their employees working together but rather pit each dept against one another.
There should be one common goal and that is to make the client happy and their employees.
And to close loans in a timely manner
Pros
None
Cons
Everything
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5.0
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My experience was great
SENIOR DATA ANALYST (Current Employee) –  San Diego, CAJune 3, 2018
My boss gave me autonomy and trusted me to deliver actionable analysis in a timely manner. BofI was a good place to start my career, however, I feel like I lacked peers that could challenge me.
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1.0
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High Turnover
Marketing + Design (Former Employee) –  La Jolla, CAApril 27, 2018
Worked here for about a year and the workplace culture is sketchy, secretive and non transparent. Management doesn't share ideas regarding the company's status and has employee preferences throughout various departments. You can't count on job security here since they have a high turnover. You can be let go anytime.
Pros
Pay was OK
Cons
Work culture is sketchy, employee preference, no job security
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3.0
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Good culture but lacking motivation and incentives
Analyst (Former Employee) –  San Diego, CAApril 14, 2018
Friendly environment to work in where everyone treats each other with respect. Not enough incentives and bonus structure to merit working any harder than what you're paid for. Not enough promoting from within and when there is a promotion, it seemed as if employees were complaining about a title bump without a commensurate salary bump. No yearly salary negotiations/assessments and unless you're promoted (see above), you'll receive a smaller than market raise (1.5%-2.5%). Bonuses are paid in half stock and half cash generally, the stock portion vests over 3 years (or 4?) and the stock is quite volatile relative to the market. Not the compensation and incentive structure I would rave about. Location is great, benefits are great, and there is a general air of can-do at the bank, which is also great. Lame snacks.
Pros
Benefits, work environment
Cons
Slow pace, incentives
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Too much time spent on quantifying employees
Bank (Current Employee) –  San Diego, CAMarch 6, 2018
Journals, spreadsheets, graphs and charts, this is how BofI management sees their employees. It is a strange atmosphere, they "put on" a family attitude, yet there is no interest in your personal life. Upper management has political far right leanings that they like to make clear to all.
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3.0
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Nice workload
Developer (Current Employee) –  San Diego, CAMarch 1, 2018
I love the work that I do at the bank. It's constantly changing with new things being added. I don't get bored and they like to give us the opportunity to learn new skills. My managers have been great and are there to help you succeed. However, upper management has lots of protocols that I don't agree with, and it makes my daily just much more taxing than it needs to be. They are obsessed with productivity, to the point where I was time tracking four different ways, ironically inhibiting my productivity. There has been some change in upper management, and it has gotten better, but it's still not great. They do not have any things to celebrate the employees except for the holiday party. We are not allowed to do any team building, or celebrate birthdays on the company dime. Therefore, many teams don't do anything for birthdays or to build relationships with each other. Also, there is an extremely high turnover rate. This makes it difficult to work as a team when your team members are constantly changing.
Pros
Great immediate managers, interesting workload
Cons
High turnover, office politics
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Not for young people who want a future
IT Analyst (Current Employee) –  San Diego, CAFebruary 26, 2018
The raise is only 2% per year. they want you do all this work but dont want to compensate you for it. They are stingy with the bonuses as well. the bank is tight with money.
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4.0
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Very Associate Focused
Specialty Finance - Personal Banker (Former Employee) –  San Diego, CAJanuary 14, 2018
This was my first time in the financial industry. I learned a tremendous amount the variety cash-flow markets. Great experience overall. I only left due to a change in direction from original role which made compensation not as equitable for employee's.
Pros
Fostered a very associate focused environment, and employee continuity.
Cons
Very little advancement within our respective department.
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5.0
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Fast Paced, Innovative Environment--But Not For Everyone
VP (Current Employee) –  San Diego, CAOctober 17, 2017
BofI is great for self-starters who can independently identify opportunities to improve or fix things, or create new business, and--unlike most financial companies (or companies in general) will be given the opportunity to go after them. If you like to sit around and wait for people to tell you to do things, you probably won't be that happy at BofI. There are some people like that but it's not the culture and it's definitely not how you'll get ahead. Time served means nothing; value added means everything.
Pros
Performance-based bonuses and stock grants for everyone
Cons
Salary is average
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3.0
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Summary
Mortgage Consultant (Former Employee) –  San Diego, CAOctober 9, 2017
work atmosphere is pretty dead and the culture is definitely sub-par. Very robotic type of feel each and everyday. If you do well you can make good money and would want to stay.... maybe.
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Just don't do it, life is simply not worth it
Financial Systems Analyst (Former Employee) –  La Jolla, CAOctober 9, 2017
This company was really stifling. They expect way too much out of their employees without giving much in return. The first thing I noticed on my first day is how eerily quiet it was. Everyone was busy working. This in itself isn't a bad thing. But if you tried to socialize for more than a brief "how do you do", you could feel the stressed out eyes glaring at you to be silent. Being surrounded by this for 10 hours a day 5 days a week and you quickly feel beat down, exhausted and downright miserable. No matter how hard you worked, it was never good enough. Life is way to short to be shoved into a cubicle for that long without any kind of reprieve or even a simple encouragement or pat on the back.

I also had the fortune in my brief position there of seeing what everyone in the company made and was shocked at the poor pay across the board. Money doesn't drive the world, but the company lacked any kind of strong team that made you feel like you were part of anything, except just trying to get by. And the excessively high turnover rate is very telling that I'm not the only one that feels this way.

I'm the type of person that stays with a company for a very long time, sticking by through massive ebbs and flows, but I got out of this one as quickly as I could. If I may be honest, I wouldn't recommend working here to my worst enemy.
Pros
Made me realize that life is way too short to work this hard
Cons
Long Hours, Sterile Environment, Poor Pay
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3.0
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Ordinary Office Environment
Business Development Manager (Current Employee) –  Denver, COSeptember 25, 2017
The people in the office are nice and easy to get along with. The office spaces are kept nicely and they provide employees with snacks and sometimes lunch.
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3.0
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Decent
Junior Portfolio Analyst (Current Employee) –  San Diego, CAAugust 19, 2017
Good benefits, but low pay. It was a good opportunity, learned a lot while I was there, but the pay is not sustainable long-term. Lots of gaps in management and you have young/new people managing more senior people which doesn't make sense.
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4.0
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a learning experience.
Administrative Sales Support (Former Employee) –  San Diego, CAAugust 4, 2017
I learned a lot about business banking and I developed lots of new banking skills that I can apply in many jobs. I learned the new way to to be banker ( online )
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2.0
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Fast turn over
Operations Specialist (Former Employee) –  La Jolla, CAJuly 17, 2017
Great people, new company that doesn't have everything in order to run as a successful business. No policies or procedures so there was a lot of risk for errors and usually no accountability. Two years since I left so everything could be getting better but if the same management is in place I seriously doubt it.
Pros
Great location
Cons
Management, no accountability
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Not a place I would reccommend working for
Utility Clerk/Assistant Manager (Former Employee) –  San Diego, CAJune 28, 2017
Upper Management does not follow up with requests. There is NO HR department, just the assistant to the CEO whom is never there either. Would not recommend anyone to work there. They treat their staff horrible and there is a lot of turn around.
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2.0
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Nice office - slow turn times
Mortgage Consultant (Former Employee) –  San Diego, CAJune 15, 2017
Make outbound calls to potential mortgage clients, receive inbound calls from mortgage prospects. Processing is very slow, so closing loans quickly was a massive challenge.
Pros
Nice office
Cons
Slow turn times
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Terrible place to work
Specialty Banker (Former Employee) –  San Diego, CAJune 1, 2017
This place was a total joke. Management was terrible. Compensation was terrible. The only thing that was worth while was the location as it is located right in the center of beautiful La Jolla, CA.
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4.0
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Productive work place
Inventory and Distribution Agent (Temporary) (Former Employee) –  Los Angeles, CAMay 27, 2017
A good place to learn about commercial lending and online financial services. As the first federal online bank, BOFI has the lead on its market. Good leadership.
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Overall rating

2.6
Based on 41 reviews
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2.7Work/Life Balance
2.6Compensation/Benefits
2.6Job Security/Advancement
2.4Management
2.6Culture