Quicken Loans Reviews | Glassdoor

Quicken Loans Reviews

Updated April 23, 2018
1,240 reviews

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3.7
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Quicken Loans CEO Jay Farner
Jay Farner
192 Ratings

1,240 Employee Reviews

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Pros
Cons
  • Maintaining work life balance can be difficult at times (in 184 reviews)

  • The long hours put in drive you to quit your job (in 200 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (26)

    "Great Place to Work if You're up to it!!"

    StarStarStarStarStar
    • 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

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

    Pros

    -Amazing company culture. Very anti-corporate, all of my leaders had an open door policy, were typically willing to listen to me.
    -Great benefits
    -Great income potential
    -What you make is based on a blend of your natural talent and what you put into it. They give you the tools to be successful if you keep an open mind and are willing to learn.
    -Team-oriented approach, great support systems in place.

    Cons

    -Hours. They're up front with you about how much you'll be working, so you shouldn't be shocked, but talking about it is very different than actually working 50-60 hours a week, typical 6 days out of 7. You can get burned out fast.
    -Since it's sales, most of your income is based on your own performance. It's important to be aware of up front in case that's not for you ( I loved it)
    -They have aggressive sales goals for you. Not unobtainable, and not unfair, but you've got to be willing to work hard and put in the hours.
    -Sometimes the pressure to "put in the hours" can be pretty strong, even when you've worked past the point of efficiency. Typically not in your face, but definitely an "oh, you're leaving already?" vibe that can be off-putting.

    Advice to Management

    Lighten up on hours. I loved working there, and I really didn't want to leave, but it was too difficult for me to balance work and family, and when push came to shove I had to pick family.

    Quicken Loans Response

    Nov 6, 2017 – Social Media Analyst

    Thank you for taking the time to write this review. We appreciate your candid feedback. We definitely strive to give our team members the tools to be successful.

    We make balancing your life a... More


  2. "Fantastic place to work in IT!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Product Owner in Detroit, MI
    Current Employee - Product Owner in Detroit, MI
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Growth, flexibility, opportunities. Quicken has a very open culture where you will have the opportunity to move around until you find an place where you can thrive.

    Cons

    Not a fan of location. Long commutes as most of Detroit is still not optimal to live in unless you overpay for new apartments surrounded by nothing.

    Quicken Loans Response

    Apr 6, 2018 – Community Manager

    Thank you for your review. We are glad you love Quicken Loans as much as us!

  3. "Former Mortgage Banker Reflects on Time w/ QL"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Mortgage Banker in Detroit, MI
    Former Employee - Senior Mortgage Banker in Detroit, MI
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Earning Potential (if you can "ignore the noise")

    Cons

    Work/Life Balance, Being Treated as Dispensable, Being Constantly Talked Down To, Feeling Guilted Into Working Extra Hours, Micro Management, Having To Hold Yourself Accountable for Hitting Team Goals (though there is no financial benefit to doing so)

    Advice to Management

    Don't use ISMs as excuses to not address real problems. The company tells bankers to be their own business owners, yet they are so meticulously micro managed and unable to ever make their own business decisions. Allow bankers to build their careers outside of just banking if they should so choose. Lastly, your career path to leadership (if one should so have chosen that route) is extremely poor. Plus, many former leaders left leadership because of, well, let's just call it "noise". It seems you look to send a young and inexperienced person with no prior work experience who has had a good two year run as a banker into leadership to mold them to the QL way of doing things as opposed to taking actual leaders and allowing them to lead. Lastly, just treat your employees as humans and with respect. "The Numbers and Money Follow, They Don't Lead", yet you treat each of your employees outside of Sr. Management as simply a number who you expect to just follow and not lead.


  4. Helpful (1)

    "The Old-School Quicken Loans Culture is Dying"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Negative Outlook
    Disapproves of CEO

    I have been working at Quicken Loans full-time

    Pros

    -Nice offices
    -Give you everything you need (Training, technology) to be successful in your job
    -Free flavored water, coffee and nutritious snacks

    Cons

    -My department is sexist against men. The women on my team are given training that the men are not. Would prefer equal opportunity.
    -No one actually abides by the ISMs they preach.
    -Everything was profit-driven
    -Expectation to work 60 hours a week
    -No direction
    -No more opportunities (They are not hiring nearly as much as they used to.. sorry bubble burst)

    Advice to Management

    -Stop letting your great company culture die.
    -Stop being Social Justice Warriors


  5. Helpful (1)

    "Doing the Right Things"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Human Resources Representative
    Current Employee - Senior Human Resources Representative
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Quicken Loans full-time (More than 5 years)

    Pros

    Great benefits, amazing culture, ability to earn a great income, industry leading training and continuous team member development. The people here really care about their teammates and their clients.

    Cons

    Certain parts of the business work too many hours.

    Advice to Management

    Continue to develop and adopt more scheduling flexibility.

    Quicken Loans Response

    Mar 30, 2018 – Community Manager

    Thank you for your review!


  6. "Mortgage Banker"

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

    I have been working at Quicken Loans full-time (More than 5 years)

    Pros

    Work from home after 5 years, make 6 figures, 35 hours a week after 5 years, great leadership and culture

    Cons

    Sales cycle starts new every month. What have you done for me lately mentality of the company

    Advice to Management

    Try advancing better leaders. It seems like anyone who fails at banking goes into leadership. Leadership isn't a glorified position

    Quicken Loans Response

    Mar 30, 2018 – Community Manager

    Thank you for your review.


  7. Helpful (1)

    "Good place if you're young"

    StarStarStarStarStar
    Former Employee - Mortgage Banker in Detroit, MI
    Former Employee - Mortgage Banker in Detroit, MI
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    You have the ability to make a lot of money as a mortgage banker. Good benefits. Lots of good/fun people to work with.

    Cons

    Hours. More and more will be demanded from you. You will get push back about taking your paid time off.

  8. "Vendor analyst"

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

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

    Pros

    Co workers we great. I miss them.
    Good pay. Free snacks.

    Cons

    Management will bulky you into drinking the kool-aid. Very occultist atmosphere.

    Advice to Management

    You have to put your aces in their places. Had I been left in the environment I was best in, I would still be a "great" fit. Everyone is not for the phones. The money is not everything. People should be happy with their employment opportunity.


  9. Helpful (1)

    "Purchase Banker"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend

    Pros

    Great sales training. It's probably some of the best i have ever had. It's almost worth working the just to get that training. You learn how to close people.

    Cons

    Crazy long hours. Averaged 85 hrs per week while i was there. Always expected to stay late. No work life balance bevause of that. Very high stress environment.

    Quicken Loans Response

    Apr 9, 2018 – Community Manager

    Thank you for your candid review. We are always looking for new ways to improve work-life balance.


  10. Helpful (4)

    "Mortgage Banker"

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

    I have been working at Quicken Loans full-time (More than 8 years)

    Pros

    Great friends, extremely hard-working company, high levels of accountability at most levels of the company. I loved it here for a long time.

    Cons

    Pay is less than a third of what it was 3 years ago, yet hours and expectations have increased to the max I’ve ever seen. Way too few people hit goal anymore and most bankers throw a party if they hit 80% of goal. I used to be able to justify giving up nearly 100% of my personal life, because the money provided security for me and my family. If you divide the hours worked now, by the commission you make, you could do as well in 40 hours a week at a pretty entry level sales position elsewhere, and reclaim 20 hours plus, of your life/week. The pay now, as compared to expectations, is garbage. Nobody buys it anymore when a leader says, “You know we always do the right thing.” Those days seem to be gone.

    Advice to Management

    It seems like you’d rather have 20 year-old bankers who work 70 hours a week and think $75k is the best thing they’ve ever seen, than retain your seasoned bankers, who actually know what they’re doing, and help earn those JD Power awards. You may not feel the effects of this decision now, but you will in time. I can no longer afford to work here which is a shame, because I’m good for QL. I’m far from alone I’m feeling like this.

    Quicken Loans Response

    Mar 30, 2018 – Community Manager

    Thank you for your candid review. We are sorry that you feel this way. We would like to discuss your experience further, please email Lisa@quickenloans.com if you would like to discuss further.


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