Quicken Loans Reviews

Updated April 24, 2015
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3.8
574 Reviews
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Recommend to a friend
Approve of CEO
Quicken Loans CEO Bill Emerson
Bill Emerson
427 Ratings

Pros
  • I also had a chance to experience the work environment and why Quicken Loans is number one (in 29 reviews)

  • Great culture, friendly team members fun looking office atmosphere (in 24 reviews)

Cons
  • Work-life balance is the number one reason team members leave QL (in 55 reviews)

  • no work life balance, management cares about sales not necessarily the individuals (in 32 reviews)

More Pros and Cons

Employee Reviews

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  1. Featured Review

    Helpful (3)

    Excellent place for a great career

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

    I worked at Quicken Loans full-time (More than 8 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    I worked at Quicken Loans for more than nine years and it was a tremendous experience. It is a great place for a person with creativity and passion. I was able to pursue my ideas and see them grow into marketing channels. This is encouraged by leadership and I can honestly say that anyone with a great idea and passion to see it through will do well at Quicken Loans. I never experienced the complaints of a work life balance that others have mentioned here. In the nine years I worked there, all on the Marketing team, that was never the case for me. My experience was, with very few exceptions, one of people who cared deeply about me and my fellow teammates at QL. In my second year of employment, I was severely injured in a freak accident and was literally couch-ridden for two months as I recovered. My leader went out of his way to make sure I didn't lose pay and allowed me to work from home until I could return to the office. Interestingly enough, it was during this time working from home when I was able to focus on and launch our Yahoo! Answers program, which became the seed of the current Social Media team (today the best social media team in financial services in the U.S.). Over the years I was able to build a team, watch several people I hired grow and build careers, and help launch several other marketing channels including my two favorites - blogging and podcasting. Although I left for a career opportunity in a completely different business, I highly recommend Quicken Loans for anyone that wants to learn a tremendous amount and work with great people. Additionally, as a person who grew up in Detroit, I have to say that the work that Quicken Loans (and Family of Companies) has done to rebuild downtown Detroit is incredible. Finally, I have absolutely no doubt that Quicken Loans will one day be the largest mortgage company in America. That is guaranteed. They have the goods and it will take them to the top.

    Cons

    This isn't really a con, just some friendly advice. If you aren't passionate and energetic, you probably will not enjoy the environment at Quicken Loans.

  2. Helpful (1)

    Great Company Great Culture!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Intern - Intern in Detroit, MI
    Current Intern - Intern in Detroit, MI

    I have been working at Quicken Loans as an intern (Less than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    This company is know for its good training.The company is really nice to its employees offering packages that come with great benefits friendly management

    Cons

    Quicken has a high turn around rate. They also rush you in to getting on the phone with callers before you are ready.

    Advice to Management

    Continue to encourage a good culture. Try to get employees more comfortable before entering them into the business model.

  3. Software Engineer

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

    I worked at Quicken Loans

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great working environment and great team.

    Cons

    Sometimes, it is easier to become workaholic

  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Awesome

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Quicken Loans

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    perks, team members, location, meetings

    Cons

    drive time, parking situation, traffic

  6. Banker

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

    I worked at Quicken Loans

    Pros

    Money was great. Free food. Management was helpful

    Cons

    INSANE hours, no work life balance despite what they preach. Smoke and Mirrors show

  7. Mortgage Banker

    • 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 (More than a year)

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    Pros

    Great commissions as realized after working other jobs since.
    Great network to help you grow and learn. Plenty of room for upward movement.
    Many perks and incentives.
    Great team building excersizes daily.
    Lots of energy in the workplase

    Cons

    Your life will be consumed by everything quicken.
    To get a start here you have to put in way too much over time as a banker.
    Emails will pile up fast... really fast so you are always logged on to your device.

    Advice to Management

    Allow more time off. Not everyone wants to work 70 hours a week

  8. Helpful (2)

    It is about the who

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

    I worked at Quicken Loans full-time

    Recommends
    Positive Outlook
    Disapproves of CEO
    Recommends
    Positive Outlook
    Disapproves of CEO

    Pros

    Amazing people, working together towards a common goal and unified in the love of Detroit! Saw some amazing and great teams of people, working collaboratively together, producing results that would be difficult for anyone else in the business to achieve.
    Quicken Loans' benefits and perks were a huge retention tool, and the amazing buildings and work environment made it a fun place to be and work.

    Cons

    Senior leaders who don't live the ISMs, in other words, people who lead with the mentality that the rules don't necessarily apply to them. Unfortunately, it wasn't terribly uncommon to have profanity laced emails sent to teams, berating them for not living the culture...a pretty mixed signal.

  9. Excellent internship experience

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

    I worked at Quicken Loans as an intern (Less than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Open culture, dynamic leadership, platform for growth and innovation

    Cons

    Less pay, no ability to convert to full time unless an internship is taken up twice

    Advice to Management

    More salary And relocation charges need to be given

  10. Say goodbye to your social life

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

    I have been working at Quicken Loans full-time (More than a year)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    A lot of the people that you start with become your best friends and you meet some really good people

    Cons

    As many people know, as a mortgage banker you work many hours. The hours alone aren't the worst part. Its what comes with the hours. Not only are you working 60-70 hours a week, you are also required to give clients your cell phone number, so you are on call 24/7. You are expected to "respond with a sense of urgency" to all clients and realtors no matter what time of the day it is...this means weekends, 2:00 am, and even holidays.

    Along with the hours is the pay you get for overtime. Most companies pay you time and a half for overtime hours. As a mortgage banker, you get paid half time (around $4 an hour) for every hour over 40 that you work.

    You would think that with working 60-70 hours a week you would have a ton of time accrued for vacations. This is true, however, good luck actually using that time for a vacation. No matter how much time you put into your job, how well you are doing on your team, if you take even a 2 day vacation you are looked at as a slacker. It is highly looked down upon to take a vacation and you will get a lot of crap for it from your team if you do. This kind of goes the same way for calling in sick. You better be on your actual death bed or have Ebola if you are going to call in sick.

    Say goodbye to your youth. You will literally age 10 years in a span of a few months. Im talking wrinkles, acne, hair loss, and weight gain all due to the stress that is put on you. I consider myself a very healthy individual, but during my time working for the company I gained 20 pounds, had horrible acne, and never got a good nights sleep. You have no time to eat during the day so you binge eat at 10 pm when you get off of work. Directors are pretty good about ordering lunch for their team once a week, but get used to pizza because that is all you will eat.

    Commission is taxed 40%. They say the average mortgage banker makes around 120,000 a year. Yeah, maybe before taxes. After the 40% you'd be making 72,000 which sounds like great money, but you could make the same amount working half the amount of time at some other company. Ive also never seen anyone make that much in their first year, which is what they advertise. And if you ask me, no amount of money is worth losing your friends and family.

    Overall, the company does a great job of "brainwashing" their team members to make them think they are working for the best company with a lot of opportunity. If you want to work for this company, go for it. But I would suggest to keep drinking the kool-aid...and a lot of it.

    Advice to Management

    Practice what you preach. There are a whole list of things I would love to tell management but it is not worth my time because they aren't going to do anything about it.

  11. Intern

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

    I worked at Quicken Loans full-time

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Fun working environment, well connected culture

    Cons

    Minimum salaries, management hires in just about anyone with a pulse to push buttons and answer phones.

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