Quicken Loans - It's exactly what all the reviews say it is | Glassdoor
  1. Helpful (4)

    "It's exactly what all the reviews say it is"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Mortgage Banker in Phoenix, AZ
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I have been working at Quicken Loans full-time for more than a year

    Pros

    The benefits are the best in the industry. The resources are endless. There is A LOT of support all around you. Great place to learn the industry. The training will set you up for a great future in mortgage lending. You will learn to build a very strong work ethic. The pay is good if you are willing to work 70+ hours a week, and you are in good lead pools. Great if you are straight out of college and this will be your first "real job". You will learn a lot, and again, build an extremely good work ethic.

    Cons

    Absolutely no work life balance. They call it a "Life Balance", which pretty much means QL will be your life. Total "Drink the Kool-Aid" mentality. The leadership is completely QL brainwashed. You will be pressured by your leaders to overwork yourself, so your leaders can win money, watches, vacations, etc., with no extra reward for you. If you break it down, the pay is WAY below industry average. If you are a good banker you will have around 12-15 loans actually close a month, and you are paid about 1/3 the amount compared to earning BPS at any other company. If you are a really good banker, you are losing even more money. But that's what happens when you work for a company that is spending so much on advertisement and leads, they take it out of your pay. The only good leads are the ones that come straight from the direct app calls, which are people calling QL directly looking to do business. Other than that, the leads are the pretty bad, mostly click bait leads from people not looking for a loan. Feels like you are working in a frat house. The vast majority of the bankers are fresh out of college. QL hires A lot of frat brothers, and college athletes. So you can paint the picture of what the environment is like. Just like everyone says, you will only have time to work and sleep, unless your mind is enhanced by other substances. Then sleep doesn't matter. And this is the case with many of your co-workers.

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    Quicken Loans2019-05-04

    Quicken Loans Response

    May 6, 2019Job Board Specialist

    We are disappointed to hear about your experience but appreciate your honesty and feedback. Please reach out to us at Lisa@quickenloans.com so we can discuss your specific situation further.

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  1. Helpful (1)

    "Quicken Loans Collateral Underwriter"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Collateral Underwriter in Detroit, MI
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Collateral Underwriter is a great position to have within the company. As of July 2019, Collateral Underwriters at Quicken Loans earn between $35.65 and $45.50 hourly depending on performance. They can also receive bonuses, and there is usually overtime available and at times required. Quicken Loans is a great company and workplace.

    Cons

    When business is really booming you will likely be required to work 50 to 55hrs a week. Work/life balance can be a negative for some, but this is also the time you can earn much more income. People that are not hard workers or unmotivated will likely fail at this company.

    Quicken Loans2019-11-02

    Quicken Loans Response

    January 7, 2020Job Board Specialist

    Thank you for your detailed review. We are thrilled that you enjoying working with us and also recommend others to working with us. We also appreciate your feedback and will continue to look at ways to improve for our team members.

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  2. "Nice company with vibrant culture"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Data Scientist in Detroit, MI
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    great pay, especially compared with living cost

    Cons

    dont have much to say

    Quicken Loans2020-02-15

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