Rocket reviews

3.4

52% would recommend to a friend

(5,628 total reviews)
avatar

Varun Krishna

65% approve of CEO

48% positive business outlook

Rocket has an employee rating of 3.4 out of 5 stars, based on 5,628 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Rocket 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

6K reviews
4.0
Jul 8, 2019

Insane hours

Recommend
CEO approval
Business Outlook

Pros

Great leaders, culture, benefits, skills. The company is great it just needs to find a solution for this one problem

Cons

I thought working that much wouldn't be a big deal but it really changes you. Sometimes there would be months were I only had 2 days off. Go in at 7am and didnt get off till 9-10pm. Most of the pay is on a bonus structure meaning that the government takes 40% in taxs. So on paper it looks like you make a lot but in reality you just work a lot and dont get paid enough

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Rocket Response
6y
Thank you for your review. We are delighted about your observation of our culture and leaders here at Quicken Loans. We appreciate your feedback and will continue to work at improving work-life balance.
3.0
Aug 20, 2015
Recommend
CEO approval
Business Outlook

Pros

Best training i ever had, very positive environment, helpful team, great atmosphere. If you are single, have no life, and have no problem working practically 24 hours... then this is the job for you.

Cons

you will practically become a slave, you take a break or go to the restroom and your team lead or your director will be texting you, emailing you to find out where you are. they claim its like a big family but in reality, like any business... everything is about production. you will work 12-15 hours a day and they will still ask you for more. they say you are required one Saturday or 1 weekend a month but expect you to be there all 4 weekends and sometimes both Saturday and Sunday... if you don't "show up" on the weekends then you are not "hungry" you are not a "hustler" you don't have that "killer mentality". They will hook you with the "possibility" to make lots of money and it is true.. .you will make LOTS of money but in exchange for becoming a complete slave. you will NOT make any money for the first 8-10 months of your career and you will have a very hard time if you have kids or family.

2.0
Apr 21, 2015
Recommend
CEO approval
Business Outlook

Pros

A lot of the people that you start with become your best friends and you meet some really good people

Cons

As many people know, as a mortgage banker you work many hours. The hours alone aren't the worst part. Its what comes with the hours. Not only are you working 60-70 hours a week, you are also required to give clients your cell phone number, so you are on call 24/7. You are expected to "respond with a sense of urgency" to all clients and realtors no matter what time of the day it is...this means weekends, 2:00 am, and even holidays. Along with the hours is the pay you get for overtime. Most companies pay you time and a half for overtime hours. As a mortgage banker, you get paid half time (around $4 an hour) for every hour over 40 that you work. You would think that with working 60-70 hours a week you would have a ton of time accrued for vacations. This is true, however, good luck actually using that time for a vacation. No matter how much time you put into your job, how well you are doing on your team, if you take even a 2 day vacation you are looked at as a slacker. It is highly looked down upon to take a vacation and you will get a lot of crap for it from your team if you do. This kind of goes the same way for calling in sick. You better be on your actual death bed or have Ebola if you are going to call in sick. Say goodbye to your youth. You will literally age 10 years in a span of a few months. Im talking wrinkles, acne, hair loss, and weight gain all due to the stress that is put on you. I consider myself a very healthy individual, but during my time working for the company I gained 20 pounds, had horrible acne, and never got a good nights sleep. You have no time to eat during the day so you binge eat at 10 pm when you get off of work. Directors are pretty good about ordering lunch for their team once a week, but get used to pizza because that is all you will eat. Commission is taxed 40%. They say the average mortgage banker makes around 120,000 a year. Yeah, maybe before taxes. After the 40% you'd be making 72,000 which sounds like great money, but you could make the same amount working half the amount of time at some other company. Ive also never seen anyone make that much in their first year, which is what they advertise. And if you ask me, no amount of money is worth losing your friends and family. Overall, the company does a great job of "brainwashing" their team members to make them think they are working for the best company with a lot of opportunity. If you want to work for this company, go for it. But I would suggest to keep drinking the kool-aid...and a lot of it.

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