Quicken Loans Reviews

I worked at Quicken Loans full-time for less than a 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 Senior Management – Management doesn't care about their people, just that they are commited to the success of the company at any cost.

No, I would not recommend this company to a friend

I worked at Quicken Loans as an intern for less than a year

Pros – Quicken Loans is truly an innovative environment, with a vibrant culture and silly/vivacious people.

Cons – However, Quicken Loans also has a dark-side attached to it as well. I was an employee at this company and like in most cases everything (as usual) started off perfect. I was apart of a great company, a great environment with great people. I thought that I had a great team that respected each other and one that was ready to face any and every challenge possible. But as time progressed that perfect picture began to show it's imperfections. I was apart of the marketing division which consist of Internet Marketing, Product Development and Social. At one point in time, I was apart of the Mobile App Development portion. This team consisted of software developers, BA's and Project Managers focused on iOS & Android development. I did it all from inputting tasks into Qbert to Q&A testing on mobile devices. One day, I was called into the office with the Dir. of Marketing and some broad from the HR department. The purpose of this meeting was to assess if whether or not I was ''a good fit'' for the team. Apparently, some clown had been spreading false rumors about me amongst the team. Claiming that I wasn't engaged in my work, and pretty much just wasting time. This claim was far from the truth and seeing as though my team leader relied on He say/She say gossip to monitor my performance ( he was located in california) I felt as though the whole ISM culture was nothing more of a brain washing form of smug/mask wearing individuals. Fast forward, my team leader gave me a week to prove myself (my recommendation) that I was ''worthy'' to be apart of the team. I did do it, worked on projects one in particular an incredibly difficult one regarding the mining of data. I accomplished this task (OVER AND ABOVE) and ultimately was let go from the company due to the same reasons as before (GOSSIP & SPYING). Apparently somebody on my team wasn't too fond of my stature and they felt as though they had to do something about it. I'm not bitter about it, I just see Quicken's true colors because beyond all of the orange, blue, green walls...there's a lot of fickleness thriving in that environment.

NOTE: This is just a summary of my experience, some details were left out for summarizing purposes.

Advice to Senior Management – Your interns are more than just sweat shop workers tasks with mundane projects from direct hires who don't feel like doing their work. Teach Interns more about internal processes this is deeper than the ISM's but it's about structure.

I have been working at Quicken Loans full-time for less than a 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 Senior Management – 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.

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

I worked at Quicken Loans as an intern for less than a year

Pros – Quicken loves to engage their employees, there are always fun things going on and everyone has the opportunity to speak with anyone in any department including the owner Dan Gilbert.

Cons – Can be stressful at times with ultra fast deadlines and pressure to succeed but the people always find a way to keep things jovial.

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

I worked at Quicken Loans full-time for more than 7 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 Senior Management – Keep up the great work, but don't let your success go to your head. Keep getting better!

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

I have been working at Quicken Loans full-time for more than 3 years

Pros – Very high income, fun environment, young & energetic work force, countless contests and prizes.

Cons – 8:30-8pm hrs. With 1 Saturday a month. Comission pay plan constantly changes to reduce pay per unit when the market favors high production. Highly micro-managed, but it does keep bankers focused. High focus on production, production, production and a what have you done for me lately (last 2 hours) atmosphere at times. Must be "auto'ed in" for call blocks, and not given necessary time to focus on pricing and other client tasks.

Advice to Senior Management – Do not always focus on the numbers and production, remember why we do this and put a little bit more focus and time on each client, not as much "churn and burn" to the next client.

I worked at Quicken Loans full-time for more than a year

Pros – I enjoyed the fast past and the fun environment.

Cons – I would of like more help on the sets.

Advice to Senior Management – N/A

Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

I worked at Quicken Loans full-time for less than a year

Pros – Great on site sales training.

Cons – dead end job, high turnover rate. Overall sweatshop.

Advice to Senior Management – Needs new management

No, I would not recommend this company to a friend

I have been working at Quicken Loans full-time for more than a year

Pros – Amazing working environment. No expense is spared on equipment, we even have powered desks to adjust the height. Unlimited earning potential, especially for young people right out of college. When I first started I thought it was all smoke in mirrors about how much you make... its not, I made a 5 figure paycheck within the first 10 months of working there and so did almost everyone from my training class.

Cons – Insane hours. That is why I said you have to know what you are getting into. You can make an enormous amount of money at a young age, but you will work a million hours for it. I work a minimum of 55 hours a week and 1-3 Saturdays a month, so does everyone else.

Advice to Senior Management – I feel that you would retain way more people if you just took it easy on the hours. Most people that quit just hit a wall and can't deal with the hours anymore. Personally I feel I could be just as productive in a normal work day and much happier to be home for dinner. The turnover is high for that reason. 90% of people that leave state that as their reason. There is scientific proof that shows you are not productive beyond 45-50 hours per week.

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

I worked at Quicken Loans full-time for more than a year

Pros – Great people to work with

Cons – Layoffs are inevitable in any industry, but when you do it to cut corners and then hire temps that is wrong!!

Advice to Senior Management – Take care of your people that you have, don't layoff to hire temps...

No, I would not recommend this company to a friend