There are newer employer reviews for Quicken Loans

1 person found this helpful  

Great Place to Work

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Anonymous Employee in Detroit, MI
Former Employee - Anonymous Employee in Detroit, MI

I worked at Quicken Loans full-time (more than 5 years)

Pros

Everybody responds with urgency and is genuinely dedicated to the success of the company and of their peers. The company culture is fantastic and should really be the subject of a book on how to run build a successful company.

Cons

The company's amazing success has a tendency to breed some arrogance among some of the employees, particularly those at higher levels. A little bit of humility goes a long way. That said, the company is still a great place to work. This is a fairly minor flaw.

Advice to ManagementAdvice

Keep up the great work, but don't let your success go to your head. Keep getting better!

Recommends
Positive Outlook
Approves of CEO

454 Other Employee Reviews for Quicken Loans (View Most Recent)

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  1. 2 people found this helpful  

    Sales Positions Are Prison-like

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mortgage Banker in Detroit, MI
    Former Employee - Mortgage Banker in Detroit, MI

    I worked at Quicken Loans full-time (less than an year)

    Pros

    Thorough training and good technology.

    Cons

    You don't have a life outside of this company, seeing the sun only happens through the windows, managers are on you like white on rice regardless if you produce well and especially if not, incredibly high turnover, they screamed at us to recruit our friends and family that "need work", you are expected to work 12-16 hours a day for a little over 20K per year.

    Advice to ManagementAdvice

    Management doesn't care about their people, just that they are commited to the success of the company at any cost.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2. 7 people found this helpful  

    Don't buy the hype!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Underwriter in Scottsdale, AZ
    Current Employee - Underwriter in Scottsdale, AZ

    I have been working at Quicken Loans full-time (less than an year)

    Pros

    Laid back very non- PC culture. Best I've ever seen.

    Cons

    The hours are a killer! There is no work life balance. Out of my training class only a few months ago 40% of the people have quit and another 20% of them (myself included) are plotting our escape. And let me tell you, when you turn against the culture the company goes from sunshine and lollipops to creepy. If their recruiters find your resume online, expect a meeting with your manager. If you try and leave to go to another bank they will remind of a non-compete clause you signed that prohibits you from going to another company. They work operations people a mandatory 50 hours a week. Plus if you actually want to earn the money that they sold you on, you have to work weekends to get it. And I'm not talking a Saturday here and there. I mean a FULL weekend. I've worked many weekends Friday night through Sunday 20 - 30 hours in order to hit bonuses. They will sell you on unlimited earning potential but keep in mind only a small handfull of the entire underwriting floor is earning a bonus because you have to hit such a high number of loans closed. They may dangle to oportunity to work from home too, but don't be fooled. There are only a couple of people who actually have the production numbers and quality to get this benefit. All of this has convinced me to go back to my original employer.

    Advice to ManagementAdvice

    Across the board the complaints are NO WORK LIFE BALANCE. You are spending a fortune trianing people only to have them quit when they burn out. You say you listed and the CEO offers his cell phone number to every employee. Are you listening when we say WE ARE TIRED? No other company requires their employees to work 50 hours a week all year round. I would still put in OT without being asked, but the fact that I'm forced into 50 hours a week is ridiculous. Plus, you dangle a carrot to entice us to slave over the weekends. I was told by recruiting that I could expect to earn 85k - 115k per year. What they didn't tell me is that is NOT possible during a 50 hour week. I have to underwrite my weekends away in order to get that great money. The monthly production bonus is a joke if that's all I earn. Quicken Loans 50 hour week + monthly production bonus with 100 loans closed comes to about $63k. Working at any other bank in town 40 hours a week with no bonus = $63k. You require an extra 500+ hours a year to get to the same salary as every other company in town. It's time for a compensation overhaul. I had such great hopes to have a life long career here but physically am getting sick after working 7 and sometimes 14 days in a row. We need a work life balance and better pay structure. Bring back the OT and 40 hour week and then offer a special incentive to work weekends or a crazy bonus for hitting a really high goal. We won't take advantage. I'd still strive to hit high #'s to get high bonuses. I simply can't do the hours any more and neither can many of my co-workers.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
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