Quicken Loans Reviews

Updated March 26, 2015
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3.8
555 Reviews
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Quicken Loans CEO Bill Emerson
Bill Emerson
414 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. Purchasing Intern

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

    I worked at Quicken Loans

    Pros

    Lots of Autonomy, Progressive workplace, great people

    Cons

    The excessive hiring may seem an internship seem less important

    Recommends
    Positive Outlook
    Approves of CEO
  2. Overall good experience, work life balance drains everything out of you though

    • 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

    Pros

    The culture is amazing, they make you forget about how many hours a week you are working. Benefits are amazing as well

    Cons

    You work long repetitive hours and most weekends

    Approves of CEO
  3. Business Analyst

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

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

    Pros

    Good comp and benefits and amazing culture

    Cons

    I wish we had more people on my team. The workload can be over whelming.

    Recommends
    Positive Outlook
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  5. I learned a ton, but my time there had run it's course

    • 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

    Pros

    I had plenty of space and opportunity to advance my skillset and career and have an impact on the company

    Cons

    They rely on company perks and high emotion to motivate team members. Salary often takes a back seat.

    Recommends
    Approves of CEO
  6. 4 people found this helpful

    Great sophomore summer internship experience.

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

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

    Pros

    I was a summer intern at Quicken Loans during the summer after my sophomore year. They bring in over 1000 interns to Detroit to work during the summer, which gives the downtown area a very young and energetic vibe. The firm has a flat management structure and I saw a great amount of lateral mobility. Even as an intern, I was able to reach out to divisions ("teams") other than the one I was hired onto in order to shadow people and get projects from different groups to explore my interests. Other benefits include:
    -Subsidized housing at Wayne State (with roughly 200 other interns, making it feel like college)
    -Good work/life balance
    -Lots of free snacks, coffee, slushies, popcorn, etc.
    -Ping pong/Video Games/Gym/Office toys
    -Good cafeteria food options
    -Great people
    -Energetic environment, vibrant workspace
    -Can have a lot of responsibility if you reach out to people for it
    -Interesting/dynamic work.
    -Close interaction with management. Very open and helpful
    -Useful training programs for new hires
    -Downtown Detroit is surprisingly nice
    -Enough pay to survive (I was in it for the experience, not the money)

    Cons

    From talking to other interns, I know their experiences were not the same as mine and some people expressed frustration at lack of interesting work, mobility, and flexibility with hours. I guess it really depends on what team you get placed onto. Other cons include:
    -Cult vibe
    -Low pay
    -Detroit can be scary at night

    Recommends
    Positive Outlook
    Approves of CEO
  7. It was a very good experience. Comfortable working environment, friendly supervisor and colleagues.

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

    I worked at Quicken Loans

    Pros

    Climate is mild. Low cost for living

    Cons

    Salary is not really as high as I expected

    Recommends
    Positive Outlook
    Approves of CEO
  8. Don't be fooled by the phony culture of this organization.

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

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

    Pros

    This is a good place to work if you are considering anything other than Mortgage Banking.

    Cons

    Work life balance: Reconsider working here if you value your time outside of work. You're typically required to work at least two Saturdays or Sundays a month, but expect more if you are not meeting goal. I was a slightly above average Mortgage Banker for a year and typically worked three weekends a month. During the week I was lucky to leave the office by 7:00.

    Micromanagement: During my second interview I asked about management styles and micromanaging. The Director of Mortgage Banking who conducted the interview looked at me like I had three heads. Unfortunately I was naive and did not see what was coming. I have a degree from a top notch university, but was treated like a 12 year old at times. Expect 2-3 rah-rah team meetings per day to discuss production.

    Pay: Don't get me wrong, the potential for high commissions is there, but it comes at a price (see above). Towards the end of my stint, the company enforced a near 20% pay decrease throughout much of the banking department. Our Regional Vice President tried to tell us this was a good thing. To my amazement, a lot of people actually bought it. My guess is they were too scared to question it.

    Phony Culture: Don't be fooled by the colorful walls, music, and free slurpies. This place is a worse version of Office Space in disguise.

    Advice to ManagementAdvice

    Show some respect to the people that work day in and day out to keep the lights on there. I busted my tail for a year in banking, requested a transfer to another area of the company (which is allowed after 9 months in your role), and was told to either quit or go back to my desk. Is this any way to treat your employees? Is this how you expect to grow? Months later, I see it as a blessing in disguise. Thank you for allowing me to walk away from this horrendous job.

    Doesn't Recommend
    Negative Outlook
  9. It was a pretty good internship experience with the BI team.

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

    I worked at Quicken Loans

    Pros

    I was involved in actual project that could make an impact to the company. Great team culture, and I got to explore the city of Detroit, which is a pretty cool place.

    Cons

    I did not get to finish my projects and put them into production. The data analytics group as a whole lacked experienced leaders, and this group does not get a lot of attention from the company.

    Advice to ManagementAdvice

    Have smaller projects for interns so they can finish them during the intern period.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  10. As long as you don't mind having a life outside of work, you'll be fine!

    • 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

    Pros

    Culture, buildings, coworkers are all great. Everybody usually has an easy-going personality. You get discounts all OVER the place in the city, just for being an employee.

    Cons

    You'll work an absolutely insane amount of hours. To the the point that it's laughable. I'm in a position that has me in the office at 7:30. I leave around 8:30 every day. Also, I'm required to work every other weekend and am STRONGLY urged to work more than that. If you try to take a weekend off, your boss will make you feel guilty and ask what you have to do. You will never see your family or friends. Quicken doesn't really care about you - they care about your production. If you will make them more money by working 7 days a week, then that's what they'll have you do (yes, many people I work with are working 7-day weeks right now... I have to bust my butt for 12-13 hours a day to get a day off on the weekends).

    Advice to ManagementAdvice

    Realize that people have lives outside of work. We will GLADLY bust our butts for a company/culture that we like, but we get burnt out. I notice production dropping just due to the sheer fact that people are exhausted. It is not a good feeling when you get home and realize that you have to wake up in 9 hours to go to work again. Employees would be SO much more productive, happy, energetic, and focused if the required hours weren't so out of control. Not sure how they spiraled out of control like they did, but this really needs to be addressed.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  11. One of the best companies to work for with lot of open minded team members and collaborative team approach.

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

    I worked at Quicken Loans

    Pros

    Good team environment,benefits,team building and lot of learning opportunities you get. They believe and follow in there ISM's.

    Cons

    I didn't find any challenges to work here when there is a good team culture and all the team members are really in helping nature.

    Advice to ManagementAdvice

    N/A

    Recommends
    Positive Outlook
    Approves of CEO

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