Lower reviews

3.6

58% would recommend to a friend

(188 total reviews)
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Dan Snyder

73% approve of CEO

60% positive business outlook

Reviews by job title

188 reviews

Reviews about "Compensation"

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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.
5.0
Dec 20, 2021
Recommend
CEO approval
Business Outlook

Pros

There are some polarizing reviews, the truth is, they're both real, and it's disingenuous to say otherwise. The negative reviews claiming the 5 stars are "fake" are the same people who didn't see success and were terminated or left, in their worldview it's impossible for others to genuinely enjoy their work because that only leaves room for one reality: others are enjoying success, and they failed on their own accord. That is not to say their cons are not genuine, they are and should also be considered. The good reviews speak of: - The culture, it's fun, vibrant, energetic, modern. - The compensation, the average is at the very top of the direct to consumer mortgage industry, those having success highlight this. - “The People” – Includes management.

Cons

The negative reviews speak of: - The "frat boy" culture: Lower.com hires, trains and develops, entry level salespeople. Sales attracts more men than women, entry level attracts more young than old. The demographic of an entry level sales professional is the demographic - this could be considered a con. - "Loan Advisors are undercompensate” or worse The money is in the commission - it's a sales job, those not having success highlight lack of pay - they highlight higher bips are available elsewhere but that's if you self gen your business, and that wouldn't have changed their lack of success. -"Lack of PTO" You be the judge, 2 weeks year 1, 3 weeks year 2, 4 weeks year 3. My opinion? competitive for an entry-level sales position, expectations are warped for individuals who don't like to work (hence didn't see success, and were terminated or left) -“Management” If you’re not having success, you’ll get management’s focus, this can be considered micromanagement, stats are heavily emphasized. Results driven culture could be a con. -“High Stress Work/Life Balance” Hours are standard 40-hour week, but I agree, it’s high stress and some people bring that stress home, creating an imbalance. Why is it stressful? (1) Results driven compensation, if you’re not working you’re not earning. (2) You’re working with client’s largest asset and liability, sometimes things go wrong, emotions run high – loan advisors absorb that stress. Those not having success will not find any of that worth it, I get it. “Constant changes” Accurate, can create stress. Lower.com is a startup, with many ways to improve, improving takes change, some work some don’t, must roll with those punches. -"401k Match" It's not good.

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Lower Response
4y
Thank you for taking the time to leave a review. We appreciate your detailed thoughts and are glad to hear you enjoy your position, teammates, and leadership. We are evaluating our benefits and are constantly looking at ways to improve our communication and culture.
1.0
Dec 14, 2021

All stress, no benefits

Recommend
CEO approval
Business Outlook

Pros

The people on your team will become your friends (mainly because everyone shares the same distaste for the company).

Cons

PAY - Way less than half of the industry average. As an advisor, we are getting 40 bps per loan. The industry average is 75-100 bps. - The company will do everything in their power to not pay you. - Managers get paid off of the advisors loans. So it creates this pyramid scheme culture where the managers could care less about you as long as you make them money. - In order to save money that would be paid to advisors, the company created a whole department called rate board, where the advisors were doing the exact same job, but now weren’t getting any commission. - The company will change your pay structure for the worse and they will tell you about it with 0 notice. WORKPLACE/MANAGEMENT - Extremely intense micromanaging. Down to every 30 minutes you will be interrogated about your production. - No matter what task you are working on, your manager will hound you constantly about it until it is done. If you ask for help, they’ll deny it. - There is not a single manager at lower that should or deserves to manage. Basically if you are a manager, it means you just stayed at the company more than 2 years without quitting. That’s the only qualification. - There are 0 standardized performance reviews. So the company can not be criticized or learn from their employees. This just allows the company to spiral downward with no desire to improve. - The company straight up makes fun of negative Glassdoor reviews that provide constructive criticism. - It is a very well known fact that the company posts fake 5 star reviews on Glassdoor to try to water down the actual reviews and keep their average rating up. - Management has 0 trust in employees. You will be babysat and will no be allowed to take time off or work from home. - Management is an old boys club. Your pay will get cut, and they will keep promoting themselves and giving themselves larger salaries. - Nepotism is very apparent. The goal post will be moved back essentially so that you never get promoted. Meanwhile a guy that got arrested in our office got promoted immediately. - There is 0 accountability or transparency in management. Life changing decisions will be made on a whim without any market/operational research. - You think the better.com and Zillow layoffs were bad? Lower started that. Over the summer, Lower fired massive groups of people all via a 4 minute zoom call. - Everyone is actively searching for new jobs at other companies. Morale and focus are at all time low. And even though the environment is this bad, management seems to either be in denial about the whole thing or are just ignoring it. REWARDS/BENEFITS - The 401k is nonexistent. - 10 total days of time off a year. (That includes sick, vacation, everything). - You WILL be forced to work weekends. You WILL be forced to work holidays. You WILL be forced to work past hours and during lunch. You WILL be told to not record those hours so HR can’t see. - You get in every morning at 9am. If you aren’t at least 15 minutes early, you will be attacked by your manager. If you’re 1 minute late to anything at all, you will be attacked by your manager. But you will be asked to stay several hours late every day. - 0 flexibility whatsoever. No work from home and you have to beg to use your time off. Work/life balance is absolute 0. - The only reward is a shout out in a morning meeting and then you’re back to being micromanaged or potentially fired.

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Lower Response
4y
Thank you for taking the time to leave a review. We appreciate the detailed response and will look into your concerns to address appropriately. If you have additional feedback you'd like to share, please reach out to HR@lower.com.
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