Quicken Loans

  www.quickenloans.com
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Quicken Loans Reviews

Updated Jul 22, 2014
All Employees Current Employees Only

3.3 334 reviews

83% Approve of the CEO

Quicken Loans CEO Bill Emerson

Bill Emerson

(250 ratings)

58% of employees recommend this company to a friend

Review Highlights

Pros
  • Great work environment, pretty informal, no dress code and downtown Detroit(in 21 reviews)

  • Good benefits and perks with discounts at many restaurants and stores downtown(in 20 reviews)


Cons
  • Work-life balance is the number one reason team members leave QL(in 41 reviews)

  • no work life balance, management cares about sales not necessarily the individuals(in 22 reviews)

334 Employee Reviews
Relevance Date Rating
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    • Culture & Values
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    Great Place to Work

    Escrow Specialist (Current Employee) Detroit, MI

    ProsQL has a very laid back atmosphere. There is no micro-managing. Leaders allow you to complete your work on your own and at your own place. This makes it easier to complete your job and have fun while doing it. Not sure if all teams were like mine but overall a great experience.

    ConsMy only only only complaint was compensation. I was in one of the lowest paid areas in the company.

    Yes, I would recommend this company to a friend

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    company culture

    Anonymous Employee (Former Employee)

    Prosgreat company culture
    lots of time for non-work activities organized by upper-management and inerns

    Consreally grind the workforce
    work for more the 10 hours a day at times

    Advice to Senior Managementopportunity for promotion

    Yes, I would recommend this company to a friend

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    Okay

    Mortgage Banker (Current Employee) Detroit, MI

    ProsThe money was pretty deec

    ConsHours are brutal and don't get better

    Advice to Senior Managementlighten up

    No, I would not recommend this company to a friend

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    • Culture & Values
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    • Disapproves of CEO

     

    Started out Great, then it all went down hill like a mudslide

    Executive Mortgage Banker (Former Employee) Cleveland, OH

    ProsAwesome co-workers, everyone is your age that's (21-27) You can make big money, not sure if that is still the case with all the comp plan changes that happen every 6 months. Marketing is good, along with the number of leads you get . Good training as well

    ConsSo many they won't even fit here. The instill fear into every banker from the start, that you do one thing wrong and you get fired and wont make big money. Bankers are afraid to stand up to their directors, directors are afraid to stand up to their regional vp's , and regional vp's are afraid to stand up to the fearless leader . They make it seem like its the only place to work in America. This is America, opportunity is endless. Want to have time to yourself, wanna go on a vacation with your nice commission check your just got, want to get out of work early for a doctors appointment? Forget about it will never every happen. You get looked down upon and they make you feel guilty for leaving work on time, that's an 11 hour day. You just had a top performing month, who cares no one does, they act like it never even happened, only memory you have is a printed out award and a decent check. You earn no respect from any one. I have seen top bankers get fired for the most minuet things. Best is to stay in the grey zone where no one notices you for doing well, and no one notices you for doing poorly. No matter where you are in production ahead of goal, right on pace, or behind the goals, they will make you work Saturdays and Sundays, as they say it "Get ahead on the next week, or month" and it never stops. Quicken is like a rabid dog no matter how much you feed its never full or satisfied and the moment you raise your hand you get bit, fired and threatened to get fired. Goals are unrealistic and unheard of at any other mortgage company. Compared to other mortgage companies compensation plan is an absolute joke, but the amount of leads and opportunities you get makes it somewhat worth it. People will drink the juice at the beginning and some will love it for the few months and then they realize the juice is just sugared urine. They have a great turn and burn system, hire college grads get 1 maybe 2 good years out of them until they quit or get fired and then repeat, its an endless machine with that system in place. The only people who stay long term, have no other opportunity outside of Quicken, no college degrees, and no where to go with mortgage sales experience. If you want to live to work Quicken is the place, if you want to work to live dont even come close. I literally saw people in their early 20's develop as much grey hair as a 45-50 year old from being at this place for a year. This is Boiler Room with mortgages and fancy slushy machines.

    Advice to Senior ManagementStand up to your leaders and say NO for once. lots of great directors and they get their hands forced by VP's to become inhuman to bankers they actually care about. Every VP does not care about any banker all they care is about their own pockets and hoping the Ceo will give them a pat on the head and tell them they are a "good boy" at the end of the day

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

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    Desensitize You to Low Pay By Throwing "Incentives"

    The Pulse (Former Employee) Detroit, MI

    ProsIn a nutshell, I can think of a few pros of working at Quicken. They do offer different types of "fun" incentives like free veggies, popcorn, slurpees and nuts/candy in their work spaces. The cafeteria is cool and the overall work space in whatever building you work in is tour-worthy. I used to love bringing my friends to see the Quicken environment.

    ConsNo room for growth, and I think a lot of it was fueled by some discrimination. I am evidently someone who practices a certain religion (you can tell through the type of attire I wear) so I felt day in and day out that this was a reason I wasn't asked to partake in certain work activities. I was an intern at the company and I believe I did a good job in trying to learn the different types of technologies at Quicken but no one ever was willing to show me the ropes.

    Advice to Senior ManagementGive positive feedback to your interns rather than scolding them. Make everyone feel a part of the team and delegate tasks to the "weakest link" so they can improve.

    No, I would not recommend this company to a friend

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    1 person found this helpful  

    Innovative, trend-setting company culture

    Anonymous Employee (Current Employee)

    ProsCompany culture is great (if you're not stale, stodgy, corporate...). Work environment is great depending upon role - some areas work hard and long hours while other areas work hard and more sensible hours. Leadership is passionate and are seeking people who complement the culture (first) and contribute to the skill/experience needed (second). Pay and benefits are comparable to other companies (oh, team building activities occur much more often here ... again it's the cuture!). Also, banker and underwriter roles get awesome compensation bonuses although with a LOT of hours (and little work-life balance). Movement to other positions in the company is much easier than other companies, providing you complement the culture.

    ConsWork hours can be challenging (or awful) in some sales/production related roles, however, bonuses often compensate in most cases (if it's all about the money for you and you're not into much work-life balance). Many (not all) junior leadership tend to lack decent experience and training, since it's primarily about the culture first. The commute can be quite challenging for those living in the surrounding metro area.

    Advice to Senior ManagementKeep training those junior leaders; seek opportunities for better work-life balance for the sales/production (and the like) roles so turn-over doesn't become a detriment and your reputation of being a "community building company" isn't compromised / hypocritical ... by not providing a work-life balance careers.

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

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    Long hours, good pay, high pressure/

    PC Power Banker (Current Employee) Scottsdale, AZ

    ProsThe potential to make some very good money is there. The training is amazing and they are genuinely concerned with your success.

    ConsBe prepared to work 65 to 80 hours a week.

    Advice to Senior ManagementLearn how to find a balance between work and home.

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

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    Great people and fun work environment. Extremely fast-paced and competitive.

    Mortgage Banker (Former Employee) Cleveland, OH

    ProsIf you work hard, you have the opportunity to make a lot of money in a short amount of time.

    ConsExtremely long hours--you have to work weekends and past 8pm on the weekdays if you want to succeed.

    Advice to Senior ManagementCommunicate with lower-level employees more often.

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

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    2 people found this helpful  

    AMAZING Place to Work

    Specialty Underwriting Intern (Current Employee) Detroit, MI

    ProsLOVE how its a team atmosphere. It's very "open door" here.

    ConsWhen changes happen, it's a bit chaotic

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

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    Great Internship

    Mortgage Specialist (Former Employee) Detroit, MI

    ProsAwesome environment, very friendly, and quality training.

    Consfull time employees have to work christmas eve

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