Quicken Loans Reviews | Glassdoor

Quicken Loans Reviews

Updated July 25, 2017
160 reviews

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2.0
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Quicken Loans CEO Jay Farner
Jay Farner
8 Ratings

160 Employee Reviews

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Pros
Cons
  • Could have a better work life balance (in 154 reviews)

  • Long hours but that is expected if you're going to make a solid living doing this (in 168 reviews)

More Pros and Cons

  1. "Low Salary for interns"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Their recruiters are very helpful and responsive.

    Cons

    They offer very low salary to their interns and that's not fair in comparison to other companies.


  2. "Loan Analyst"

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

    I worked at Quicken Loans full-time

    Pros

    Great diversity in company !

    Cons

    Way to stressful, most challenging position in the company. Workload too extreme. Turnover is high.

    Advice to Management

    Find ways to alleviate daily stress on your employees

  3. Helpful (4)

    "Hours are crazy and comp plan gets cut often."

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

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

    Pros

    Cutting edge technology. You used to be able to make money there. I hear outside of sales it's a pretty good environment.

    Cons

    Wrong people in charge. They promote some of the worst human beings to run there kids into the ground. Don't care about their "power bankers"...absolute zero loyalty to employees.

    Advice to Management

    Cut leadership that is there just to be a puppet. Promote sales leaders with original thoughts


  4. "Loan officer"

    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
    Approves of CEO

    I worked at Quicken Loans full-time

    Pros

    Made a lot of money

    Cons

    Terrible work hours bad leadership

    Advice to Management

    Be supportive


  5. "They Own You!"

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

    I worked at Quicken Loans full-time

    Pros

    Good benefits, team support, culture of the company as a whole

    Cons

    Don't get paid overtime, yet are worked 60-70 hrs a week! Commission is sub-par compared to the industry average. No balance for work/life.


  6. "Analyst"

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

    I worked at Quicken Loans full-time

    Pros

    Great place to start out. If your looking for a career change this is a great place to start as well.

    Cons

    Not a long term place. It's best to get your experience and then get out. Leadership is never happy with your performance no matter how much you sweat or bleed, they would just want to know why it wasn't better. Contrustive feed is important, however you should be able to smell the roses once in a while. This is not a stable place at all. It's not just the industry either it's the company. Change happens way too much and your input is never asked(it's just here's your option take it or leave). There is a lot of favoritism going on, so unless your in the "in group" your going to be in trouble.

    Advice to Management

    Stability is important, try being a little more consistent. Act on the feedback that is given, don't just seek it out. Train leaders to expert in the areas they lead.


  7. "Client Advocate"

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

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

    Pros

    Money is good, you can work a lot.

    Cons

    No one is ever on the same page

  8. Helpful (4)

    "Power Banker"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Power Banker in Scottsdale, AZ
    Former Employee - Power Banker in Scottsdale, AZ
    Recommends
    Negative Outlook
    No opinion of CEO

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

    Pros

    Quicken loans licenses you for free in 18 states (that I'm taking to another company). This is a great company to start your career in the field of mortgage banking. They have the best training in the entire industry and will turn you into a sales shark. Definitely not a career, almost like an internship. Taking my show on the road to work less and make more.

    Cons

    This company will suck your soul away if you stay too long and then is in mind a cult. If you question management then you get black balled into cold calls about their home and garden sweepstakes which is not even close to prospective homebuyers or those owning a home looking to refinance. Also get ready to be pressured into working 65-70 hrs a week. Quicken loans will use you and throw you away as I had 5 buddies I went through training with get canned for the dumbest reasons.

    Advice to Management

    Don't make somebody feel bad for not coming in on the weekends when you force them to work 8-8 Monday thru Friday. Also pay your employees on volume, if they get smart like myself you'll lose them all. QL wants their employees to be sheep.


  9. "mortgage banker"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Quicken Loans full-time

    Pros

    The earning potential is huge

    Cons

    work/life balance is almost non existent.


  10. Helpful (5)

    "Keep looking for other job"

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

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

    Pros

    -Good training program
    -Amazing technology
    -They license you for 15 states to start, which is unheard of in industry

    Cons

    -Never ending micromanaging from your director
    -Turnover is unreal, 16/26 in my hiring class didnt last 12 mo (for these reasons)
    -To hit goals you will need to work 70+ hrs a week and 6-7 days min
    -Very high stress to produce, even if you do produce you will hate your life
    -If you have a college degree dont even entertain the though of working here, they hire anything with a pulse
    -They dont care if you quit because another expendable is getting hired to take your job
    -Literally 0 work life balance ( I could write an essay on the cons)

    Advice to Management

    Think about why you have the worst turnover in the industry. Changes need to be made, working for this company is one of the worst experiences of my life even while hitting goals


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