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OneMain Financial

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OneMain Financial

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OneMain Financial Employee Reviews about "loans"

Updated Jan 16, 2021

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Found 151 of over 1,664 reviews

3.5
64%
Recommend to a Friend
78%
Approve of CEO
OneMain Financial President and Chief Executive Officer Doug Shulman (no image)
Doug Shulman
315 Ratings
Pros
  • "good benefits and compensation programs(in 106 reviews)

  • "Good pay, good environment flexible scheduling(in 65 reviews)

  • Cons
  • "I found myself not having enough time throughout my day for closings of loans(in 151 reviews)

  • "Upper management were out of touch(in 79 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

    Ratings by Demographics

    This rating reflects the overall rating of OneMain Financial and is not affected by filters.

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    Reviews about "loans"

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    1. 5.0
      Current Employee

      Great place to work if you are looking for advancement

      Dec 2, 2020 - Senior Personal Loan Specialist in Melville, NY
      Recommend
      CEO Approval
      Business Outlook

      Pros

      OneMain is a great place to work and start a career with. Since starting at OneMain I have learned many key skills in the financial industry that has helped me grow and put me on the path to advancement in the company. I enjoy working here because it is a good working environment and I am able to learn needed to move forward in my career path while being heard by my management team. I am proud to work at OneMain because we are able to help our customers that may not have other financial options and I enjoy helping people. I am currently enrolled in a development program to help me move up within the company and OneMain offers many tools to help employees advance in their careers.

      Cons

      Working one late night and one Saturday morning could be viewed as a CON by some, but I see it as some extra time to close loans for customers not available during normal working hours. Helping more customers achieve their financial goals helps me achieve my targets.

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    2. 1.0
      Former Employee, more than 3 years

      LIES! PLEASE STAY AWAY AND DO NOT BELIEVE ANYTHING THEY SAY! LIES!

      Jan 8, 2021 - Personal Loan Specialist 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      PTO is decent once you've been there long enough

      Cons

      No commission for credit insurance...and non-credit you get a measly 6% for a company that’s net income for 2019 was $855 million. DQ not being a completely separate bonus from new money... so you work hard all month on new money and then it is gone because people won’t answer the phone… RD and DM not knowing 100% how apps are split among branches and them not being divided up among branches fairly. Always what you do wrong and not enough of what you do right. Call out employees in group emails(for example call tracking-if call tracking is low...speak to them individually). Short term memory loss- consistency doesn’t mean they get off your back about numbers if your low one month. A lot of BMs and DMs do not lead by example. Management doesn’t read notes....and therefore management makes mistakes constantly…but our notes have to be spot on or you are spoken too. Having good numbers to be promoted to DM or BM doesn’t mean you know how to manage. Pocket policies galore....and not consistent from district to district (I’ve been here 3 years and I am not allowed to second verify or approve loans since a new DM has been hired). Management constantly looking at numbers not the full situation…for example APP flow. Policies constantly change and typically make the job more difficult for a simple task and harder to hit your numbers. We are under paid considering all the job titles we have.... Loan Officer/Collection Specialist/Title Clerk/Interim Branch Manager/Insurance Salesman/B2B Representative.

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      1 person found this review helpful

      OneMain Financial Response

      Online Reputation Management Coordinator

      We appreciate your feedback. Our branch team members have sales goals throughout the month and are rewarded for meeting these goals through our Variable Incentive Program (VIP). We encourage our team members to have open conversations with their managers regarding any concerns. -AS

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    4. 3.0
      Current Employee, less than 1 year

      Stable work and good pay

      Dec 1, 2020 - Consumer Loan Specialist in Salt Lake City, UT
      Recommend
      CEO Approval
      Business Outlook

      Pros

      OneMain provides very good benefits to its employees. The hours are consistent and reliable. They do provide quite a bit of training for every position, and they seem to set their employees up for success.

      Cons

      While I am not technically a telemarketer, I would describe my job as a glorified telemarketer. It can be difficult hearing the stories of what people are going through during the collection calls. While OneMain does provide options to help its customers out, there does come a point where we cannot help them, which can be tough each day. It is an office job, so sitting all day is a part of life. We do get to walk back and forth when we have instore loan closings, but if you want to get your steps in for the day, you'll need to be active outside of work.

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    5. 4.0
      Current Employee, more than 1 year

      It's been a great stepping stone in my career

      May 18, 2020 - Loan Officer 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      *Great work-life balance *Decent pay *Amazing PTO plan *Great office atmosphere *Active and involved branch managers *Decent bonus/ commission potential *Company did handle covid exposure concerns extremely well

      Cons

      * Upper management seem to never be satisfied with your work and can over micromanage even when you've proved your numbers months in a row. * Sometimes the company seems to get lost in its own reports while trying to find the true value of employees. Is someone who booked 8 20k secured loans better or someone who booked 30 3k unsecured loans better? Is someone who made 70 calls better or is someone who made 30 but collected on the majority of accounts in question? * Internal transferring is an inefficient pain * Goals can sometimes be unrealistic or disproportionately favorable to certain branches within a district *Company beats you over the head simultaneously with "Customer Choice" Insurance options while they also all but threaten your job for insurance sales #s

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      4 people found this review helpful

      OneMain Financial Response

      Director, Content Marketing

      We appreciate and read through all of our reviews, both positive and constructive. Our branch team members have sales goals throughout the month and are rewarded for meeting these goals through our Variable Incentive Program (VIP). We encourage you to provide feedback to your direct manager or hrsocialmedia@omf.com. - OMF

    6. 3.0
      Former Employee, more than 1 year

      You can make really good money here if you're a salesperson.

      Jan 6, 2021 - Branch Manager Trainee in Denver, CO
      Recommend
      CEO Approval
      Business Outlook

      Pros

      They have great benefits, paid training, They pay for your certifications, work one or two weekends out of the month and you can wear jeans on Friday's.

      Cons

      They want you to sell each customer at least 3 of 6 products they offer. The workload can become overwhelming. The loan process alone is a lot, you have to follow a million steps in a short, short time period. I found it impossible to be great at every single thing they ask of you, I don't doubt that one could but you have to have great management and great team members backing you.

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      OneMain Financial Response

      Online Reputation Management Coordinator

      Thank you for your review. We continuously look at staffing models to evaluate if we have the right number of employees in every department. We encourage open communication between team members and their direct managers to gauge strengths and opportunities for team growth and development. -AS

    7. 3.0
      Current Employee, more than 3 years

      Good place to learn

      Jan 16, 2021 - Personal Loan Specialist in Sacramento, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      It’s a great place to learn and grow I learned about collecting lending and underwriting all at the same time this is my first job in finance and I feel like this covers it all

      Cons

      Unattainable goals at times they want you to do a lot in one day self-service loans and Etc. it makes it hard to get a lot done in one day in the way of tracking stuff as far as performance is not always fair.

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      OneMain Financial Response

      Online Reputation Management Coordinator

      Thank you for your feedback. We’re glad to hear that OneMain has been a great place for you to learn and grow your skillsets. Regarding goals, we monitor them regularly and continue to make adjustments throughout this unprecedented time. We encourage you to have open conversations with your manager or HR Business Partner about this and any other concerns you might have. You can also share feedback at hrsocialmedia@omf.com -AS

    8. 2.0
      Former Employee, more than 1 year

      Ok if you need a job

      Jul 14, 2020 - Senior Loan Specialist in Nashville, TN
      Recommend
      CEO Approval
      Business Outlook

      Pros

      It pays decent for entry level. Easy to be promoted/ move up if you do a good job. If you are able to hit your target (rare) you could get a nice sized bonus. Depending on your manager and coworkers your work environment may be pretty good.

      Cons

      But it’s also possible to be micro managed. Somehow this job attracts all smokers. About 90% of the employees are smokers(In my opinion). It’s super fast paced- if you don’t like feeling behind all day even when you’ve done everything you could to produce a loan, don’t apply. Management is also super intense about selling selling selling insurance insurance and more insurance. Sometimes targets are outrageously unattainable but they don’t care because if you don’t meet the target you don’t get a bonus. The company also has a sleezy feel to it with some of its practices. Let’s just say they have high interest rates for a reason.

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      2 people found this review helpful

      OneMain Financial Response

      Director, Content Marketing

      We appreciate your feedback. Our branch team members have sales goals throughout the month and are rewarded for meeting these goals through our Variable Incentive Program (VIP). We encourage our team members to have open conversations with their managers regarding any concerns. - OMF

    9. 1.0
      Former Employee, more than 8 years

      Save yourself the headache.

      Sep 6, 2020 - Senior Personal Loan Specialist 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      You have benefits and a steady income. the people work there are all wonderful

      Cons

      You will be working Saturdays- two to three a month. You will be expected to achieve excessive moving goal posts that are strategically constructed to create subprime auto loans that clients kill themselves to pay. You will be encouraged to force your clients decision making in order to achieve these goals. You are all but told not to mention if your client actually qualified for a personal loan at the get go. You will constantly double people's auto rates and nearly double the payment approved- and what's worse you will be looked at and told that this is perfectly fine and acceptable. Just remember the dead and broken look in the mangagment's eyes.

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      2 people found this review helpful
    10. 2.0
      Former Employee

      Horrible System

      Dec 29, 2020 - Personal Loans Specialist in Phoenix, AZ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      The people here are pretty nice

      Cons

      System they use is horrible, it is extremely hard to get people approved for loans and very confusing to learn. You are also trapping people in loans they will not be able to pay off for years.

      1 person found this review helpful

      OneMain Financial Response

      Online Reputation Management Coordinator

      Thank you for bringing this to our attention. We are committed to following the Customer Commitment and Borrower's Bill of Rights. If you believe this has not been followed, we encourage you to contact the ethics hotline. -AS

    11. 2.0
      Former Employee

      employment

      Dec 8, 2020 - Manager 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      benefits and vacation and sick and personal days

      Cons

      collection hours and hard selling of loans

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      OneMain Financial Response

      Online Reputation Management Coordinator

      We appreciate you reaching out to let us know how you feel. As this is personal for each individual, we encourage our team members to discuss concerns with their direct managers or HR Business Partner. -AS