Tower Loan Reviews in Birmingham, AL | Glassdoor

Tower Loan Birmingham Reviews

5 reviews

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Birmingham, AL Area

2.2
StarStarStarStarStar
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Francis C. Lee
3 Ratings

5 Employee Reviews

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Pros
  • "Great pay, great benefits, and great people" (in 10 reviews)

  • "Good pay and good benefits after 1 year" (in 7 reviews)

Cons
  • "Insurance company it's partnered with, long hours" (in 29 reviews)

  • "10-12 months of hard work to get noticed and no vacations day" (in 10 reviews)

More Pros and Cons

  1. Helpful (2)

    "This is a great place for a long and lasting career."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Director of Operations in Birmingham, AL
    Current Employee - Director of Operations in Birmingham, AL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Tower Loan full-time (More than 10 years)

    Pros

    Great training program, promotions from within and great team spirit. The company is growing quickly and responsibly in order to provide even more opportunities.

    Cons

    Only very committed people will find long term success. Relocation is not for everyone so please be honest with yourself and the company when applying.

    Advice to Management

    Stay connected to the needs of your customers and employees alike.


  2. Helpful (4)

    "Over worked and Under paid"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Representative in Bessemer, AL
    Former Employee - Customer Service Representative in Bessemer, AL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Tower Loan full-time (More than a year)

    Pros

    Hour lunch, get to decorate the office

    Cons

    High turnover rate, unappreciative of its employees

    Advice to Management

    Pay employees what they are worth, you can’t throw a huge work load on somebody and not compensate them effectively.

  3. Helpful (1)

    "Great People - Just Was Not for Me"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Manager Trainee in Hoover, AL
    Former Employee - Manager Trainee in Hoover, AL
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Tower Loan full-time (Less than a year)

    Pros

    Everyone from peers to upper management was incredibly friendly, genuine, and care about my development within the company

    Clear and well explained path for upward-mobility within the company

    Feedback and training from managers was above and beyond what I could have wanted or expected from a first job right out of college

    Lunch and dinner with my former manager and regional manger

    If your branch is well-established and successful, there is additional compensation potential

    Cons

    Long hours and expectation to work some Saturdays if your branch is underperforming

    Vacation time not available until a full year of employment

    Tower Loan is over a decade behind in terms of technology

    The majority of my duties was working on collections - included calling references and places of employment (knew this was part of the job but was not expecting it to be the vast majority of the work I would be doing) - part of issue going to work at a less-established branch

    Difficult to provide loans and later try to collect on loans from people with low income along with other issues (a con in many finance positions, not just TL)

    Advice to Management

    Keep going what you're doing. I thuroughly enjoyed my experiences with managers at every level of the company.


  4. Helpful (3)

    "Makes no sense"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager in Birmingham, AL
    Current Employee - Manager in Birmingham, AL
    Doesn't Recommend
    Negative Outlook

    I have been working at Tower Loan full-time (More than a year)

    Pros

    There's room for advancement.

    Cons

    For overtime you don't get paid time and a half, you get paid half your hourly pay. (Ex. 47 hours worked.... 14.12x40 regular pay + 7.06x7 fluctuating pay) basically the more hours you work, the less you get paid. They don't pay for your rent being broken or all relocation fees when being promoted.

    Advice to Management

    Find a better job with better hours, compensation and don't let them get over on you telling you that they'll pay this but don't actually do it etc.


  5. Helpful (9)

    "I asked for a day off, three weeks notice and was declined. My grandfathers dying of cancer. Greediest company."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Service Representative Customer Service Representative in Birmingham, AL
    Current Employee - Customer Service Representative Customer Service Representative in Birmingham, AL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Tower Loan full-time (Less than a year)

    Pros

    Monday-Friday job for CSRs. other than that there are no pros. job security sucks!

    Cons

    long hours. management immaturity. strict management. no days off. soliciting nonstop. if you don't wear heels and are female they will say something. constant discouragement. everything is a race here and if you don't preform you will get scolded.

    Advice to Management

    my advise to management would be to lay off their CSRs and MTs. we are the feet of the company. we bring in majority of the loans. we bust our butts to make the company money. 20 loans a month, not including new customers, is unrealistic in a small branch. tower loan has made me cry over and over because of how they've made me feel. I do NOT recommend working here. pay isn't even that great. I'm considering leaving and taking a pay cut just to be happy again. did I mention interest rates are 30%+?? it must feel good giving people money and charging them crazy amounts. poor people.


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