Quicken Loans Reviews

Updated August 26, 2015
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544 Employee Reviews

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  1. Helpful (2)

    Great Sales Training

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Mortgage Banker in Phoenix, AZ
    Former Employee - Senior Mortgage Banker in Phoenix, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Quicken Loans full-time (More than 3 years)

    Pros

    Great sales training/ leadership training Great culture Great leadership (for the most part) Fun work environment

    Cons

    Long hours Lot of stress Only as good as your last month

    Advice to Management

    Remember your employees are human beings, and stay high level.


  2. Helpful (1)

    Pretty Terrible Place to Work

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Banker in Detroit, MI
    Former Employee - Mortgage Banker in Detroit, MI
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    You don't need to have any previous work experience. You can come in knowing very little about the industry or any industry and get the job.

    Cons

    Frankly, the company is a giant that treats their employees like garbage. While QL often enchants its employee base, mostly 20 year old men, with a "fun" fraternity-like atmosphere, it is difficult to look at the company as anything other than a pseudo-pyramid scheme. It hires in its young work force with the intent, or at least the results, of burning out most of its banking workforce within a year. In order to continue feeding it's pseudo-pyramid it has begun a system of "referrals" where a "successful" referral, or three months with the company, can earn you thousands of dollars. These employees are then rounded up and herded into a well-organized multiple months training program. After graduating, you are assigned to what will likely be an abrasive director, who is no more than a company dog biting at your heels and, on occasion, your neck. The overwhelming amount of micromanaging that occurs, in addition to the ridiculous hours and availability expectations, leads to more stress and mental health decay than anything else. They also have complete control over your pay without any hearty and healthy checks and balances. There was a >10% commission pay rate decrease as well as tier number increase mid-month that was effective immediately. For a company that likes to “do the right thing” by their customers, community, and employees, the complete dismissal of these “miniscule” changes to the part of the labor force that drives revenue has even lead the most ignorant of employees to question the higher-ups. After grinding it out for nearly a year you are given a few options, you likely burn out or are fired, you move to an easier position elsewhere in the company because you’ve paid your dues, or you are sent to the mill to become a company dog. I truly hope that maintaining critical mass for the banking floor will become increasingly difficult and will eventually erode the rest of the pyramid or someone starts a union and drains that place dry.

    Advice to Management

    When you cut pay please inform the employees and please do it before the month that it becomes effective. Also, put your dogs on a leash.


  3. Helpful (2)

    Good Culture

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Culture was great as an intern, fun place to work.

    Cons

    I was not placed into a role that aligned with my major.


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  5. Helpful (3)

    Be prepared

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Banker in Detroit, MI
    Former Employee - Mortgage Banker in Detroit, MI
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    If you work hard you can earn $$$ The people you work with are amazing

    Cons

    Be prepared to work longer than normal hours even if you produce Work/Life balance isn't the best


  6. Helpful (1)

    Work/Life imbalance

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    Good training solid benefits including health and retirement

    Cons

    Overworked and in your face management.

    Advice to Management

    Trust your workers instincts more


  7. Helpful (3)

    Obsessed with finding a better way

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Mortgage Underwriter in Charlotte, NC
    Current Employee - Mortgage Underwriter in Charlotte, NC
    Recommends
    Positive Outlook

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

    Pros

    The CEO, President, Vice President and ALL of upper management are the best group of people put together to run a company and are SO down to earth it's amazing! An ethical and caring company that has you wanting to come to work each day. The culture is un-matched. This is not your cookie cutter, robotic, run of the mill mortgage company. The health plan is top notch and 401k matching.

    Cons

    My opinion none, but I do hear some talk about work-life balance. We are required to work some weekends but Quicken Loans is a client service driven company. The service is what puts us at the top and keeps us there. Without the weekends, client service drops as applications and closings back up and clients wait to close their loans. So, working a weekend makes a big difference to clients...and who doesn't want to be part of making a difference. Every client. Every time. No exceptions. No excuses.


  8. Helpful (5)

    Work hard and you will do fine/make a lot of $$

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Banker
    Former Employee - Mortgage Banker
    Recommends
    Positive Outlook
    Disapproves of CEO

    Pros

    You make great money here if you work hard. 100K+ is feasible within your first year. Also you will really like the people you work with.

    Cons

    Mental Stress and constant micromanagement combined with the minimum 60 hour weeks makes you think twice about the pay. There isnt enough work-life balance.


  9. Excellent Opportunities and Job Satisfaction in Technology

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Desktop Support Specialist in Cleveland, OH
    Current Employee - Desktop Support Specialist in Cleveland, OH
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Quicken Loans full-time

    Pros

    I am kind of a hybrid computer technician in Cleveland responsible for keeping the site up and running with its Technology. It is great. No micromanagement, flexible schedule, lots of time for study and projects as long as I keep the site running. I do some networking, working with servers, vendor software, logistics, and projects for 3 companies in Cleveland and remote support for a location in Pittsburgh. I make a comfortable living for a single man in his 20s and there is still a lot of room to move within the company. Been with them 1.5 years.

    Cons

    I'm really thinking hard on this one. Can be hard to get your foot in the door, lengthy application process, however it makes sense for security.

    Advice to Management

    Perhaps do a cost/spending analysis to save some money on equipment.


  10. Helpful (6)

    Zero work life balance

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations Specialist
    Former Employee - Operations Specialist
    Doesn't Recommend
    Approves of CEO

    I worked at Quicken Loans full-time (More than 5 years)

    Pros

    Excellent benefits, ok pay, great experience, lots of perks

    Cons

    Give your life to the company and their ideas- live it and love it, end of the day you are just replaceable no matter what. Not good for long term. Unbelievable long hours. If you have a family this is NOT a job for work life balance no matter which position.

    Advice to Management

    Chill out- geez


  11. Nice place to be ;)

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

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

    Pros

    very friendly work place.

    Cons

    lots of hours for full time



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