Quicken Loans Reviews | Glassdoor

Quicken Loans Reviews

Updated June 21, 2017
1,042 reviews

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1,042 Employee Reviews

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  1. "great company"

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

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

    Pros

    I love this place and plan to retire from here

    Cons

    cant take the snack machine home

    Advice to Management

    keep up the good work


  2. Helpful (3)

    "Strong growth potential, professional training"

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

    I have been working at Quicken Loans full-time (More than 3 years)

    Pros

    Considering it is generally difficult to break into any industry without a degree, Quicken's training program alongside their commission structure is the best in the industry. The long hours go without saying, are less a con and more an expectation for whatever sales position you are in that relies heavily on consumer contact and reward per the time you put in is fantastic. I fail to find any comparison within the industry or outside it. In this sense, the company truly is exceptional. Environment and atmosphere is high energy, with your every need being literally catered to you. The Campus like atmosphere of downtown Detroit is now a place where you can find entertainment around any corner. Benefits are normal per the industry and area with exception of 401k matching being low. Further benefits can be found everywhere, with an employee's badge acting like a key to the city. You get a discount on almost all downtown business, and can benefit from assistance on rent when living downtown.

    Cons

    Commission structures were changing drastically away from individual performance to a more manageable (read, lower) payout per performance period based on averages of the company and your individual area of expertise. This gets frustrating especially when they tote "front end focus" for their bankers but put in stop gaps for pay outs of loans in process that are not moving properly to the closing table, rather than just do what (literally) every other company in the industry does, and pay on closing. Further, your experience at Quicken can and is extremely effected by your management. Some managers will be in your face 24/7 about sales, others will take a more hands on approach, management selection is strictly based on performance so that you can have managers with only 1 years experience in Mortgage Banking and no experience in managing people. Although this can be counted towards a positive of upward mobility, it also produces managers who clearly have no idea what they are doing and no people skills to speak of. Moreover, team changes and rearrangements happen monthly, removing any sense of consistency or normality to the work environment. I count this as a negative because in a 12 month span I worked under 3 different managers and 4 different Regional Vice Presidents, all of whom had wide differences in management styles and expectations. As with any position that requires so much time and energy, stress is high and burnout is common. If you don't produce, you're gone. What exacerbates these issues is Quickens upper management refusal to acknowledge anything as a 'problem' within their organization. Many of the issues I have just relayed are looked upon with pride rather than scrutiny.

    Advice to Management

    Quickens Management will find ways to improve, they always do.

  3. Helpful (3)

    "Know the position when reading the review."

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

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

    Pros

    Great work life balance. Fantastic benefits on day one. VERY focused on the development of their people.
    The snacks and freebies are great too.

    Cons

    Many of the poor reviews are from bankers. The long hours are due to their compensation being commission based. The more they work, the more they sell and the more they make.
    If you've worked in the corporate world for any length of time, the relaxed culture does take some adjustment, but WELL WORTH IT.

    Advice to Management

    Keep the focus on your team members and their development.


  4. "Mortgage Banker"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Purchase Banker in Scottsdale, AZ
    Former Employee - Purchase Banker in Scottsdale, AZ
    Approves of CEO

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

    Pros

    Great culture and amazing training.

    Cons

    Long hours minimum 55+ and there is always a new flavor of the week focus that we have to adjust to

    Advice to Management

    stop over thinking it.


  5. "Great company with great benefits!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations Specialist in Detroit, MI
    Former Employee - Operations Specialist in Detroit, MI
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Quicken Loans (Less than a year)

    Pros

    -Friendly environment
    -Offer medical, dental, 401k
    -Free lunches on occasional
    -Great pay

    Cons

    Because of the slow season, not much work was available.


  6. "Great place"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Banker in Scottsdale, AZ
    Current Employee - Banker in Scottsdale, AZ
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    The company creates a platform for you to make an outrageous amount of money. The best thing, however, is the culture. The culture is so strong those that come into Quicken Loans that do not believe in the culture, stick out like a sore thumbs.

    Cons

    Work too many hours. There is no such thing as a work/life balance--all work and no play.

    Advice to Management

    I honestly do not have anything bad to say about management as most are there to help you achieve your financial goals.


  7. "Hours are rough"

    Star Star Star Star Star
    • 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
    Neutral Outlook
    Approves of CEO

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

    Pros

    Fun place to be. Good money

    Cons

    Hours are long and you have no life.

    Advice to Management

    Help with life/work balance

  8. "Great Place to work"

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

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

    Pros

    One of a kind culture. Opportunity to move up. Huge focus on keeping employees happy.

    Cons

    Bankers most likely have a vastly different opinion. Many specialized employees lacking well rounded skills.


  9. "Good company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Power Banker in Scottsdale, AZ
    Current Employee - Power Banker in Scottsdale, AZ

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

    Pros

    Communication with management, pays well, room to grow

    Cons

    Work very long hours, unrealistic expectations


  10. "INtern"

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

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

    Pros

    Awesome company that will continue to do amazing.

    Cons

    No cons at this time or ever

    Advice to Management

    You do great things


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