Quicken Loans Reviews | Glassdoor

Quicken Loans Reviews

Updated August 11, 2017
122 reviews

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Quicken Loans CEO Jay Farner
Jay Farner
8 Ratings

122 Employee Reviews

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Pros
Cons
  • Could have a better work life balance (in 158 reviews)

  • The long hours are due to their compensation being commission based (in 174 reviews)

More Pros and Cons

  1. "Horrible HR Leadership"

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

    I worked at Quicken Loans full-time

    Pros

    Good cafe, free coffee, that's about it.

    Cons

    New HR Leadership was put recently put in place. These women have zero HR experience and are cold as ice. Get a personality, you are in HR. They encourage competitiveness rather than teamwork and give zero support for their Tim's.

    Advice to Management

    Whoever made the decision to put these women in these positions needs to be evaluated. Take a look at who has left and who has been let go since they started. You will see not only is there a lot but a lot of great people. You have lost the heart of your company. Very sad.


  2. Helpful (1)

    "Mortgage Banker"

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

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

    Pros

    Pay is great but hard to hit higher pay scale tiers.

    Cons

    highest turn over rate of any company I have ever worked for if you make it a year it would be nothing short of a miracle they do not value their employee's or they would not force so many hours on them . Work/Life balance....you wont have a life. They also train their sales people to out right lie to customers to gain their business. The sales people here are the true definition of used car salesman.

  3. Helpful (1)

    "Sweat shop"

    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
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Great training, friendly atmosphere, very helpful coworkers

    Cons

    First 3 to 6 months you make $9 an hour, working 70-80 hours a week, dialing out to transfer potential clients to bankers. 700 dials a day are required, you will be staying late until you finish. Once you're a banker the hours do not get better. you will work 8am to 9pm every single day with one 30 min break all day, and even then you're expected to eat at your desk. Saturday hours are a little better, you work 8am to 6pm. If you're off pace you will work sundays as well. The sweatshop environment is very apparent in every aspect of this job. During callblock you cannot step away from your desk for any reason, even bathroom. If you'd like to be enslaved, go work at Quicken.

    Advice to Management

    Realize people are people not machines.


  4. Helpful (3)

    "For the 1% and you will hate life"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Loan Officer in Scottsdale, AZ
    Former Employee - Mortgage Loan Officer in Scottsdale, AZ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Culture is good even though they brainwash you into thinking you have a life balance and not work and life balance. They tell you that you can make great money, but only 5% actually make money.

    Cons

    No time to do anything but work and sleep. Training is torture and they spend more time doing things for you then actually teaching you anything. Also they don't tell you that you will be tortured by dialing 700 calls a day for two months for 12 to 13 hours a day while you wait for your state licenses. They would rather get production than actually teach you any knowledge. If you are single and have no friends this is the job for you. I can't stress enough that you will work 60+ hours a week and they see that as life balance. They preach life balance during every presentation. Based on my calculations I worked 60+ hour weeks and I hit goal every month, but I lost out on my daughter's life achievements. They are a top 10 company to work for if you want to do nothing but work. Also the pulse or HR department is completely worthless. I had questions about benefits when I started and she said she couldn't answer them because she didn't have the plan. I had a director that was 25 years old. He had no leadership skills, but he could press buttons on the computer for me and not teach me a damn thing though. You can't reach someone to be a leader. Most of them are not leaders, but knowledge experts.

    Advice to Management

    Training sucks. Instead of paying me 10.00 an hour to dial for 700 dials a day and have my boss dial while I use the bathroom how about you take the two months that I need to get licensed to actually teach me things I will retain. The foundation dial and smile torture is by far the worst experience I've ever had with a company. And the directors don't care. They only care about production and not actually helping you learn. Stop preaching life balance. You have no life when you work 65 hours a week. You work and sleep and don't try to tell someone otherwise. Quicken is against families I believe. They could care less that I don't see my daughter wake up in the morning and I get home after she is in bed for 3 three hours already. Disgusting.


  5. "PC Mortgage Banker"

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

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

    Pros

    Always can work overtime. You're choice have to work Saturdays or Sundays during purchase season. You get to work every weekend if you're not on pace. Goals are always going up to make you the best employee. Opposite of cheap when it comes to the Qzine. Top chefs making the best chicken tenders. Leaders will promote you to hit quotas and #1 place to work as asked by the CFO. You get to supply the Cleveland Cav's with their payroll. Bottom line they care more about the hours you work than the quality of life you have which is always a pro in my book.

    Cons

    Anyone who has a few hot months can be a leader. They want you to work on the Superbowl. They hire 300 people a month to replace you. Pay has gone done 50% since I worked there. (Someone has to build that Q line.) The kool-aid is the same kool-aid pitch every month. We get it QL is the best place to work.

    Advice to Management

    Keep one comp plan like most employers. Don't tweak the goals to benefit you because the bean counter couldn't predict brexit. We're tired of the same old bit with Farner mispronouncing Refinance. You're paying Lebron all that money have him do it. Or you could get Kyrie since he's on his way out.


  6. "Associate Banker"

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

    I worked at Quicken Loans full-time

    Pros

    Training was fiver stars out of five!

    Cons

    65-70hr weeks, Management treats you like a toddler. I was literately told to run to the restroom so I could get back on the phones ASAP! No breaks other then lunch, which they don't want you to take. They only allow you lunches because it's federally mandated. Parking was a 20min bus ride to you building. Terrible place to work, very demeaning.


  7. Helpful (2)

    "Mortgage Banker"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend

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

    Pros

    Training is great. Get licensed in 10+ states right up front.

    Cons

    There is no work life balance at all. I had read the reviews on here before I started and thought "it can't be that bad". I was wrong, it is. You will work everyday, and you will be there 12+ hours. They guilt you if you take days off, only care about if you will hit goal. You are replaceable and just a number, despite whatever kind of "company culture" rah-rah talk they give you. They tell you theres great work/life balance if you advance but they only promote you if dedicate your life to QL. You also will be forced to park miles away from the building you work in, and have to take a shuttle ride that takes at least 30 mins each way, adding an extra hour or more. If you don't do the shuttle, you'll be forced to pay for parking on your own downtown. Overall, I absolutely do not recommend working here. They treat you like garbage and you make terrible money unless you work yourself silly and pass your goal (which raises each month)

    Advice to Management

    I'd say "listen to your employees or former employees" and address the issue since thats what QL is supposedly all about. But my guess is you've already heard and don't care. Clearly this strategy keeps QL rich so until that starts to change I assume this will stay the norm.

  8. Helpful (2)

    "Horrible"

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

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

    Pros

    Decent pay for the jobs you are doing.
    Decent experience
    Free snacks everyday
    A lot of local discounts
    No other pros

    Cons

    No work life balance
    They do not care about their employees
    Their leaders are extremely cliquey
    There is a lot of favoritism

    Advice to Management

    Show the same compassion you show to client to your employees.


  9. "Loan officer"

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

    I have been working at Quicken Loans full-time

    Pros

    Free stuff that's about it

    Cons

    Micro management - threats of being let go for not volunteering

    Advice to Management

    Back off


  10. "Stressful, Unstable"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Operations in Charlotte, NC
    Former Employee - Mortgage Operations in Charlotte, NC
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Compensation, Overtime, Bonus pay. Challenging fast paced environment. Good resources. Free food and activities. Great PTO and volunteer hours given. Casual dress code

    Cons

    Terrible location in Charlotte NC, consistently changing teams, leadership, compensation and goals. Non trustworthy Leaders. Too many meetings. Leaders show favoritism

    Advice to Management

    DVP of Mortgage Operations and Ops Directors need to communicate more with team members. Know your people, have integrity and be transparent. Treat all equal instead of grading team members and showing favoritism.


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