Lower reviews

3.6

58% would recommend to a friend

(684 total reviews)
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Dan Snyder

73% approve of CEO

60% positive business outlook

Lower has an employee rating of 3.6 out of 5 stars, based on 684 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Lower employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

684 reviews
1.0
Jan 21, 2022
Recommend
CEO approval
Business Outlook

Pros

Mostly young people hired, met some great co-workers. Thats about it.

Cons

Not sure where to start- I was finding out too much information that led me to not being able to mentally work for people that run this place. I have worked a lot of jobs, this is the only one where poor management made me quit. They make the company seem cool with their little parties, ping pong/ pool tables and social media- but they just lie to employees. All they care about is quantity, not quality. -I worked here for over 6 months, ever since the company partnered with another company and put their naming rights on the Crew stadium I noticed a drastic change. I saw mass hires and MASS fires, they over projected what they could handle. They micromanage you to the extreme, which also made me very anxious, everyday people were going in worried about job stability wondering if they were going to be fired that day. They micromanage so hard I saw a new employee had to write 50 TIMES ON A PIECE OF PAPER something so they would not forget it. I'm sorry, are we in 1st grade? Making a grown adult write out repetitive words? I came back from lunch 1 minute late because elevator was slow and got yelled at in front of a whole team, feeling embarrassed. But yet if you needed help or critiquing, managers wont use their time to help you. -They spend an absurd amount of money on a new system they migrated to over the summer that does not work. One of their new reps for that system emailed account managers admitted to NOT BUYING LEADS for a few months. But they raised standards for account managers, and loan advisors. Tell me how that makes sense? On Friday morning meetings they (CEO and higher ups) would say how many leads they are buying but I saw that email with my own eyes that money was not being spent on a lot of leads? Not having new leads forced account managers to call customers who previously closed with Lower, like from 2020 when rates were insanely good. Calling these people over and over again, harassing them over the phone. My co-worker was called a poor salesman because he did not want to sell someone at a higher rate and longer term than what they were on. An AVP also had mentioned we were all "expendable." -Along with that, they kept changing the bonus structure, essentially setting people up for failure. Account Managers and Loan Advisors. Nobody was hitting goals, which trickled all the way down to operations. They moved officers into different departments controlling what kind of loans they could close. They cut AVPS pay as well. How are you going to spend $300,000 a month on your name on a stadium and another $300,000 a month on a system that does not work but do not wanna pay your employees what they are worthy of? -They say there was opportunity for growth but never let my co-worker get on the Loan Advisor path (as they were producing at their position well). They also claim to hire within but one of the teams had a new team lead opening, hired an outsider nobody knew about without telling anyone or the current employee who was well at his job interviewing for that roll. -On a Friday morning meeting they said "they had new innovations for operations coming", then proceeded to fire a whole department in Operations without any notice beforehand. (I'll let that speak for itself.) -The benefits are not great, insurance was awful and 10 days off is it-sick and PTO together. 401K match non-existent. The hours are awful, especially Mondays 9-7.

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Lower Response
4y
Thanks for taking the time to leave a review. We appreciate your feedback and will use this to address concerns where appropriate. If you would like to provide any additional feedback, please reach out to us at HR@lower.com.
1.0
Oct 4, 2021

RED FLAGS

Recommend
CEO approval
Business Outlook

Pros

• you will meet good coworkers and bond over how unrealistic your performance expectations are, constantly. • the (sales) office is nice and new. If you’re hired into operations you will be in the old, call center style office with no perks. • they hire people with no experience and college degree is optional so they give people chances (for now)

Cons

• PTO and sick combined for 10 days. You WILL NOT get paid out when you leave or they randomly reduce staffing. • 401k match exists simply so they can put in on their recruiting pitches. It’s not industry average and the vesting plan is awful. • health insurance is expensive • have a family? Plan on seeing them significantly less. Work life balance is unjustifiably bad. • you have a job that can be done entirely remote? See you in the office anyway because (culture). • equitable pay for the industry standard? Best they can do is a new t shirt. • do you like job stability? Not at Lower. Since investors have looked at their books they’ve been cutting staff like crazy. Nobody is safe. • micro is the only form of management you will receive. Nobody will care about your personal life or barrier to work. They will simply email you and push you to reach their made up performance indexes. • upper management is set and will not be going anywhere. When things are broken they will not be fixed because upper management is completely unwilling to admit their mistakes. • do NOT take or keep this job for the prospectus of IPO benefits. They don’t pay out PTO when you leave and they combine PTO/paternity/sick into one benefit. You think they’ll give you decent stock options? Lol

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Lower Response
4y
Thanks for taking the time to leave a review. It's important to us to hire great people, even if they have little industry experience. We are happy to hear you met some great friends in your time here. We regularly evaluate our benefits and processes to see if and how they can be improved. We appreciate your feedback.
3.0
Dec 13, 2021

My honest expierence

Recommend
CEO approval
Business Outlook

Pros

First job out of college. Majority of the people I met were like minded and similar aged. Ability to do financially well for myself Produced as a top 10 LO by the time I left the company Learn what it takes to be successful in call center environment

Cons

Comp structure always changing Micro-management Before rate and term refi’s the main heloc product is sleazy. What you are told to say to win the business is in direct contradiction to the truth and upside down on the moral compass People who end up in corporate training end up there because they can’t hack it in sales. Take everything they say that isn’t technical/ software related with a grain of salt. Once the people you start with as an AM/ associate with and become a LO with leave the company... You look around and see how not enjoyable the job really is. Felt like “Pavlov’s dog” when it came to the work day. Minimal freedom when it came to structuring my day how I wanted my workflow to be even being a top producing LO, still treated like a sales employee who wasn’t covering their draw. Benefits were not good. Felt like another cog in the wheel even after being with the comp 3+ years in total Once I got a sense of how things really operated it was hard to drag myself to work every day even being what some considered a high performing employee.

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Lower Response
4y
Thanks for taking the time to leave a review. We love to give opportunities to those coming right out of college and are happy to hear you found success in doing that. We appreciate the constructive feedback and will use these items to address gaps where appropriate.
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