Quicken Loans

  www.quickenloans.com
  www.quickenloans.com

Quicken Loans Reviews

Updated November 20, 2014
Updated November 20, 2014
470 Reviews
3.8
470 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Quicken Loans CEO Bill Emerson
Bill Emerson
361 Ratings

Review Highlights

Pros
  • I also had a chance to experience the work environment and why Quicken Loans is number one (in 28 reviews)

  • Good benefits and perks with discounts at many restaurants and stores downtown (in 23 reviews)


Cons
  • Work-life balance is the number one reason team members leave QL (in 51 reviews)

  • no work life balance, management cares about sales not necessarily the individuals (in 29 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Fun Culture, OK Pay

    Former Employee - Intern - Hourly in Detroit, MI
    Former Employee - Intern - Hourly in Detroit, MI

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

    Pros

    Fun place to work, lots of resources, perks like Tigers Tickets

    Cons

    Relatively low intern pay, Annoying downtown parking

    Advice to ManagementAdvice

    Higher intern salary with difference among teams.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Great start

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

    I have been working at Quicken Loans

    Pros

    Fun atmosphere
    Supportive team
    Great team leaders
    Revitalization of Detroit
    Community involvement

    Cons

    The pay could be better

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    you work a lot of hours

    • 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 (less than an year)

    Pros

    benefits are great, structure is good too.. a great company for someone young

    Cons

    horrible work balance, your life belongs to quicken loans to the minute you quit, which you will want to muliple times

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    Business Analyst Intern -IT

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

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

    Pros

    Great internship for a student who does not have previous experience working in IT. Many opportunities to learn different things and get involved in different projects. You will get an understanding of how teams in IT support software used by business partners. Many fun intern events in Detroit. You really get to experience the city and all of the new things that are happening.

    Cons

    It is sometimes difficult to become a key worker on projects because there are so many intern events to attend throughout the week.

    Advice to ManagementAdvice

    Set aside specific projects in advance that interns must complete during their time. This will ensure that they gain knowledge and have experience.

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Must sell your soul to work here.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mortgage Banker in Cleveland, OH
    Former Employee - Mortgage Banker in Cleveland, OH

    I worked at Quicken Loans full-time (less than an year)

    Pros

    money. if you love money and don't care about ethical practice, a life outside of work, or your health you will do well here. Fun office culture at times, so it may be better for new grads because you certainly don't feel like it's an "adult job". If you end up making it long enough you can make a ton of money

    Cons

    hours, stress, lacking in ethical practice as in "team plans" do not necessarily always include the truth from the start, no work-life balance

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7. 5 people found this helpful  

    Mortgage banker,

    If you can be a robot for 14 hours a day, this is the job for you!

    • 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 (less than an year)

    Pros

    The first month was good, filled with relevant mortgage training. They will get you licensed in 10 or more states before you are allowed to work on the banking floor.

    Cons

    They expect 150 % out of you every minute of the day ( 8am until 10 pm) if you leave your desk for more than a 20 minute lunch you will be treated badly and considered a slacker by your superiors. If you don't work at least 70 hours a week you will be fired. The influence and persuasion of the clients is pushed to the point of embarrassment, like con artists. You will be fired if you have a regular intelligent conversation with a client or a realtor and do not follow the script, there is a script for every single play and every single client objection. I was lied to about the time it takes before you can actually get on the banking floor, they said 3 months it was 7, living on 9 dollars an hour for that long when you have a mortgage, car payment and other bills is basically impossible. I had clients that had their loans denied right before closing and were left homeless, who does that? If you are young ( 20 to 26) can handle being a puppet, require only 5 hours or less of sleep per night and can handle the constant threats of being fired, then this is the place for you.

    Advice to ManagementAdvice

    You put a lot of money into licensing a banker, and get rid of people at the drop of a hat for no good reason. You don't care because you'll have 100 new bankers next month. The day will come when no one will want to work as a mortgage banker for QL. Open your eyes, start treating bankers like humans.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  8.  

    Great culture; work long hours

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

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

    Pros

    Amazing training, benefits, pay ,etc...

    Cons

    Life-work balance is very difficult. They expect a lot.

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Good Company long hours

    • 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 3 years)

    Pros

    Great opportunity to make great money. Fun atmosphere, lots of parties, young crowd.

    Cons

    Long hours. They micromanage you to death. Always threatening you with your job.

    Advice to ManagementAdvice

    Do more work for your team members and not so much coaching.

    Recommends
    Positive Outlook
    Approves of CEO
  10. 2 people found this helpful  

    No Work/Life Balance

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

    I worked at Quicken Loans full-time (less than an year)

    Pros

    Very fun environment to work in. Lots of excitement and fun to be had during the day. Tons of excellent training if you are not familiar with mortgages. Management is very supportive of employees as long as it pertains to work. Excellent company culture, if you aren't a mortgage banker there are lots of opportunities for fun things with the company.

    Cons

    65 hour weeks with 6-7 work days are the normal. Company seems to have a churn and burn attitude towards employees. Use them up and bring in the next ones. Only executive management had any longevity.

    Advice to ManagementAdvice

    Consider better work/life management.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  11. 3 people found this helpful  

    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 an year)

    Pros

    Great company with a great philosophy. Potential to make six figures, even in your first year of employment.
    Great training enviroment.

    Cons

    Very high turn over rate
    Expect very long hours(10-11pm at night is not unusual)
    No work-life balance due to hours noted above.
    Supervisors/Others Eye your every move - listen to your phone calls etc
    Majority of pay is commission based, so don't expect a big check if you aren't good at selling loans.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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