Quicken Loans Reviews in Detroit, MI Area

Pros

Definate career development prospect; everyone is great to work with;

Cons

Have to be willing to work at least 50 hours a week; usual hours are 60 hours.... you are also judged based off of how many hours you work and not the type of work you put out... so if you want to go and make a lot of money working 12 hour days your golden.

Advice to Senior Management

Realize that not everyone wants to put in 60 hours a week and reward people for the excellent work they do not hours they put in.

Pros

Slurpees, lunches, fun extras like tickets to events. Great technology. They had fun monthly all employee meetings. They try to make it a fun work environment.....try.

Cons

there's always another hampster out there to throw on your wheel when you show any signs of fatigue!! People don't matter there.

Advice to Senior Management

There are no words that would change the way that they do their business. It is cultured in, and built into their training and expectations to treat people poorly.

Pros

I get to work with amazing, smart, talented people (leaders and team members) every day. The environment is demanding for sure, but only as a way to help me achieve my best performance. I am given the resources and projects I need to become successful. Everyone who works here leaves infinitely more marketable than when they arrived.

Cons

It can take some time to benefit from the compensation package (which I believe rewards longevity and loyalty). However, those who have faith are not disappointed.

Advice to Senior Management

Continue formal and informal methods for coaching team members to achieve more than they think possible. Expand on current mentoring and classes offered to team members to help them grow.

Pros

good compensation, good training program, if you show promise during the program, it will be noted and brought to the attention of the leaders.

Cons

they expect you to spend at least 12 hours a day at the office trying to bully "clients" into taking out a a loan with QL. Prospective clients are treated like prey and aggressiveness and a lack of compassion is highly encouraged throughout the company.

Advice to Senior Management

start treating everyone better. That includes both prospective clients and employees. Try to encourage a warm and friendly culture instead of a militant brainwashing of the trainees with the company philosophy.

Pros

GOod compensation, the best training, great people

Cons

certain stress that comes with any sales job.

Advice to Senior Management

none

Pros

great money great people great knowledge

Cons

no work/life balance at first; however, it gets better once you build up your clientele

Pros

There really isn't much to say- good benefits package, free coffee/slushies/popcorn/hot cocoa, and these cool desks that raise up and down to accommodate you if you want to stand or sit.

Cons

Where to begin? Crazy, long hours, especially when you calculate in commute time. Saturday's are expected, and it's looked down upon if you actually take your lunch. You get lectured if you take 5 minutes off the phone to speak to someone or take a breather. Most of management is on a power trip, they talk down to you and your expected to just put up with whatever they say to you. Pay is horrific, I earned more at my minimum wage job in high school considering the hours I work. I have a 4-year degree, most of the people I work with maybe have high school degrees. Not the place to be if your actually intelligent and want to use your brain at your job.

Advice to Senior Management

Learn how to actually relate to someone to coach them. Motivation through fear is not the only way to motivate employees. Get off your high horse and stop treating employees poorly. This company has a ridiculous employee turnover ratio.

Pros

All in all it's a very stable company with a ton of growth potential. The compensation from what i hear is much lower compared to working elsewhere in the mortgage industry, but the amount of work you have to do on each loan is minimal. The Directors that I had were very good at sales and would always work with those who needed help. The training was top notch. The environment is very upbeat, but almost to the point of it being unprofessional. You will have balls wizzing over your head and loud music blaring in the background of your phone calls. Company outings are a blast. They say that they work hard and play harder and this is very apparent.

Cons

The hours are inhumane - 11-12 hour days, sometimes longer, no excuses. Every saturday unless you are hitting very high sales numbers, and if you aren't you are expected to be there regardless of how many hours you have worked that week. Your day is comprised of sitting at a desk and calling. That is it. If you are not on the phone, you will be sure to hear about it and explain why you are not calling to your director. you are not allowed to go out for lunch, you must bring it back to your desk and eat while you continue to work. I told myself before accepting the job that I could work long hours and was ok with it, but in the end, when it boils down to it, those hours are very long when you are doing the exact same thing with no breaks, reading the same piece of paper every call.

The environment is very wild. See the movie boiler room. You will be placed at a desk in the middle of hundreds of other bankers all grouped together. Balls and objects flying at you and over your head at all times with loud music in the background that customers complain about. If you are not ok with a high-pressure, overall crazy environment, this will not be a good place for you. If you are not ok with stepping outside of your comfort zone, sometimes even to do things unethically or unprofessionally, this will not be a good fit for you.

They hire in almost 200 people a month. Some with good 4 year degrees, some with GED's. I was told from a director that they do not drug test for a reason, and that is half the company would be gone.

Advice to Senior Management

there is no need to work the hours that people work. Give breaks, they are well needed and well deserved. Reduce the turnover rate drastically and people will actually enjoy being there.

Pros

Flex time was great, relaxed atmosphere where people could waste entire days on doing nothing and gossiping, meetings that were more like class and no input is really required or needed from you, and not a lot of work to do = going home on time or even early, oh and a decent starting out salary for entry-level (for non-banking jobs).

Cons

QL is the place for you if you're not really that good at what you do. If you actually have any innovative ideas management will reject you because it didn't come from them. They claim to be open to new ideas and have this open door policy, but in reality it's filled with politics and insecurity. This is a place where a lot of people who couldn't survive in the real world thrive, because they can just follow their team leaders around and continue to do things in a podunk backwards fashion without ever challenging the practices.

If you are a high achieving individual, one who is ambitious and really strives to work in a place that does amazing things - this is not a place for you. If you are starting out in your career, and desperately need experience - this is a great start, but don't buy into their delusional culture and be afraid to leave after you've learned all that you can. Many people there have never worked anywhere else, or can't handle a faster-paced job and are too comfortable to leave. It really just depends on what kind of person you are.

Lastly, for starting out they pay a decent salary, like around $30k with a bonus of probably around $5k, so $35k to $40k for no experience is not bad. However, if you've worked there for 2-3 years, you're underpaid as you rarely make more than the range you started in, you could leverage your experience for much higher at that point in any other company. They focus on selling you their "culture" to underpay you. Also, be prepared for constant emails, it is one of the most inefficient aspects of working there. Nonstop "reply to all" emails about running jokes, stupid shares, and wastes of time - again building on the "culture."

Advice to Senior Management

Reward innovation - don't just pretend like you do by saying you have an "ism" about innovation
Don't be so afraid of being challenged
Get rid of clearly incompetent people, ones that still aren't sure about their jobs after 6 months, and pay a little more to get better talent

Pros

coming from another company it was like a breath of fresh air. We work hard but it is fun . I have a great salary/bonus plan. Great benefits and the people are great to work with. My leader is on the floor throughout the day and even her leader is out walking around asking question on how we are and what can she do to help improve the process. And things do get changed based on our feedback. It is wonderful to feel empowered, encouraged and challanged everyday.

Cons

We work 50-55 hrs a week. they have started flex time but sometimes i would love to leave at 6pm and not have to worry about a 10 hr day.

Advice to Senior Management

I think they are doing a great job at being available. they are open to feedback and I really feel I can go to them for anything. I have a voice and they encourage us to use it to promote change. I feel my opinion counts. Keep this open line of communication. I really feel appreciated too.