Quicken Loans "work life balance" Reviews | Glassdoor

Quicken Loans Reviews

Updated Jan 9, 2020

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3.9
73%
Recommend to a Friend
87%
Approve of CEO
Quicken Loans CEO Jay Farner
Jay Farner
663 Ratings
  1. Helpful (4)

    "It's exactly what all the reviews say it is"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Mortgage Banker in Phoenix, AZ
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I have been working at Quicken Loans full-time for more than a year

    Pros

    The benefits are the best in the industry. The resources are endless. There is A LOT of support all around you. Great place to learn the industry. The training will set you up for a great future in mortgage lending. You will learn to build a very strong work ethic. The pay is good if you are willing to work 70+ hours a week, and you are in good lead pools. Great if you are straight out of college and this will be your first "real job". You will learn a lot, and again, build an extremely good work ethic.

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    Cons

    Absolutely no work life balance. They call it a "Life Balance", which pretty much means QL will be your life. Total "Drink the Kool-Aid" mentality. The leadership is completely QL brainwashed. You will be pressured by your leaders to overwork yourself, so your leaders can win money, watches, vacations, etc., with no extra reward for you. If you break it down, the pay is WAY below industry average. If you are a good banker you will have around 12-15 loans actually close a month, and you are paid about 1/3 the amount compared to earning BPS at any other company. If you are a really good banker, you are losing even more money. But that's what happens when you work for a company that is spending so much on advertisement and leads, they take it out of your pay. The only good leads are the ones that come straight from the direct app calls, which are people calling QL directly looking to do business. Other than that, the leads are the pretty bad, mostly click bait leads from people not looking for a loan. Feels like you are working in a frat house. The vast majority of the bankers are fresh out of college. QL hires A lot of frat brothers, and college athletes. So you can paint the picture of what the environment is like. Just like everyone says, you will only have time to work and sleep, unless your mind is enhanced by other substances. Then sleep doesn't matter. And this is the case with many of your co-workers.

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    Advice to Management

    It's a great example of corporate America. Your the largest lender in America, so you are obviously doing something right. Just not the place to work for a lot of people, and that is ok.

    Quicken Loans2019-05-04
  2. Helpful (2)

    "It's more of a lifestyle"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Mortgage Originator in Detroit, MI
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at Quicken Loans full-time for less than a year

    Pros

    Great pay, benefits, and atmosphere.

    Cons

    Work-life balance is no existent, somewhat pushy sales tactics.

    Advice to Management

    Mandatory 11 hour days 5 days a week with a mandatory weekend is a tad ridiculous.

    Quicken Loans2019-05-07
  3. Helpful (1)

    "Great company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Detroit, MI
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Quicken Loans full-time for more than 3 years

    Pros

    Great company and leadership very helpful in every way

    Cons

    long hours, no work life balance at certain times.

    Quicken Loans2019-04-24
  4. "Not a career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Customer Service Specialist 

    I worked at Quicken Loans full-time

    Pros

    Known company, good insurance

    Cons

    No work/life balance, not enough pay, hard to move to a different position.

    Quicken Loans2019-04-26
  5. "Plenty of opportunities for growth, generally lower than average pay."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Compensation Analyst in Detroit, MI
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Quicken Loans full-time for more than 3 years

    Pros

    Work life balance (if in a non-sales role) Remote work options Great offices in Detroit Ability to find other career opportunities within family of companies Empowerment and process improvement are strongly encouraged

    Cons

    Average/below average pay “Failing up” employees who manage to move into positions they are not qualified for Lack of accountability at all levels Short sighted decisions by senior management Often left figuring out how to do things on your own with little help

    Advice to Management

    If you want to retain top talent do not seek to pay at/below average market pay.

    Quicken Loans2019-04-11
  6. "Working at QL in IT"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Product Owner in Detroit, MI
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Quicken Loans full-time for more than 5 years

    Pros

    Flexible work life balance. Family like culture among team members. Ability to learn and grow. Career advancement.

    Cons

    Compliance area difficult. Communication between leaders and senior leadership poor. Leadership and Sr Leadership has poor understanding of new roles with SAFe methodology. Leaders don't hold team members with difficulty with time management and no self organization accountable. Leader and team member on boarding is non existent for new and returning members. Too green of leaders not held accountable. Have programs for leadership that are corky and unrealistic to everyday leadership. With the SAFe model, leadership doesn't understand their additional responsibility. Working with legal stakeholders is difficult. Legal team members are bullish, demanding and blow up scope. Legal team members believe everything is a "hair on fire" situation and "want it done yesterday" even if they just mentioned it. Leadership programs make it seem like their leaders believe in the culture, but in reality life that's not how it works.

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    Advice to Management

    Improve your communication. Teach your new leaders, just because there are leadership programs doesn't mean they know how to lead. Push back on legal stakeholders to really define their priority as everything cannot be done yesterday when they tell us the same day. This leads to a very high anxiety, high strung, and tense relationship with them. You have allowed a legal team member to bully technology team members into doing their bidding. Team members are afraid to speak up and defend themselves against that and poor leaders. Leadership does not get rid of poor quality team members, it is almost as if they protect them. Which doesn't make sense because they are a waste of time, money, and sufficate the potential for hard working highly skilled team members to be hired. Since Dan and Bill have not been directly overseeing the company anymore I'm afraid there has been a continued downward trend of the culture. After seven years the technology with compliance side has almost completely lost the culture except for a few leaders. Over the last three years I have seen more team members jump ship to get out of legal compliance area either warm transfer or getting jobs outside of QL. The area is toxic, the leadership is poor (albiet a fee leaders). There's no true sense of directional leadership except the bullying from legal business team members (really one specifically). I really enjoyed working for QL over the last seven years and only hope for the best that they can recover on the legal technology side the culture that has made QL who it is today.

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    Quicken Loans2019-03-20
  7. "Overall not bad!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - MOrtgage Loan Originator in Phoenix, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Quicken Loans full-time for more than a year

    Pros

    Ability to make a lot of money, great company culture, great sales training.

    Cons

    No work life balance, they do micro manage you if you are not on pace.

    Advice to Management

    Less Micro Management

    Quicken Loans2019-03-14
  8. Helpful (5)

    "Don't work here unless you're desperate."

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

    I worked at Quicken Loans full-time for less than a year

    Pros

    Hire people with little experience

    Cons

    No work life balance, terrifying cult-like mentality, abusive leaders, no accountability. They mishandled my personal information which has made me unable to receive a license from the NMLS, and lead me to have to cancel all my credit cards, and I never received a straight answer or an apology. They regularly shorted our pay, and I am still struggling to get back lost wages. I was lied to about my job description in the interview process as well. All around the worst experience of my life. I am embarrassed to say I worked here. In my training I was encouraged to lie to potential clients and use unethical, high-pressure sales techniques. Glad I ran far away.

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    Advice to Management

    The movie "Boiler Room" is a cautionary tale, not a guide.

    Quicken Loans2019-03-16
  9. "Great for IT"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Data Analyst in Detroit, MI
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Quicken Loans full-time for more than 3 years

    Pros

    Lots of opportunity, great benefits, decent work/life balance (in IT/corporate roles)

    Cons

    A bit cultish, but most people see through it and know what's really good and can work past the bad.

    Quicken Loans2019-01-16
  10. "Solid employer to build career"

    StarStarStarStarStar
    Former Employee - Anonymous Employee 

    I worked at Quicken Loans full-time

    Pros

    incentives and pay in line with position/experience

    Cons

    hours worked, lack of work life balance

    Quicken Loans2019-01-15
Found 284 reviews