Rocket reviews

3.4

52% would recommend to a friend

(5,628 total reviews)
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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
1.0
Nov 12, 2018

Continuing to go downhill

Recommend
CEO approval
Business Outlook

Pros

Good incentive pay for the beginning portion of my career.

Cons

Separation from the company for a minor issue (would not have been fired for something like this in the past). I was not on any type of performance warnings in the past, and this came out of no where. At the time of separation, QL was already beginning to tighten the belt with benefits and perks. I did enjoy the role at the start of my career there. They had lots of incentives and really good pay if you were willing to work the hours. However, after a couple of years, the incentives disappeared and I was lucky to make half of what I use to make. I still have friends and family that work there, and they all complain about how much worse things have gotten. They rarely work from home now, there are no merit raises, there's much less flexibility, and every action they take is under a microscope. I now work in auto underwriting, and actually get to work from home, and have comparable pay to what I was making there. I know mortgage rates have increased and the market is slowing down, it's a shame a company like this will fire people to "trim the fat" so to speak, and I know a decent portion of the workforce has been reduced by termination. QL doens't "lay off" people, they never have and never will, either you make the cut when things slow down, or you get canned.

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Rocket Response
7y
Thank you for taking the time to write this review. We are disappointed to hear about your experience as we value the talent and skills that our team members bring to our company. Please reach out to us at Lisa@quickenloans.com and we can discuss your specific situation further.
1.0
Jul 17, 2018

Sweat shop

Recommend
CEO approval
Business Outlook

Pros

Nothing positive to say currently

Cons

Overstaffed and management looking for any reason possible to either fire underwriters or force them to take demotions to avoid paying unemployment. A dashboard was recently created which punishes underwriters for asking for documents that are needed. This dashboard was created even with a pending lawsuit with the FHA which accuses Quicken loans of overlooking guidelines and not asking for required documentation

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Rocket Response
7y
Thank you for your honestly and constructive feedback. We understand where you are coming from and think it would be helpful to discuss further. Please reach out to us at Lisa@quickenloans.com.
2.0
Mar 20, 2015
Recommend
CEO approval
Business Outlook

Pros

The money. You want to make 100k or more within 18 months of graduating college? You can do it here, if you make it and are a good banker. Also the people you meet there are awesome. While there I met great friends and truly enjoyed my coworkers. The company does great with marketing and buying tons of fresh leads so you don't have to cold call and the phone rings off the hook most days. Training is also top notch and very available. Leadership opportunities are very available for those who are interested after 12-18 months banking. A lot of energy in the office, perks are good with some fun contests and prizes for top performers. It is a fun atmosphere, with most of the people there being like you ie fresh out of school, making money, enjoy going out etc.

Cons

Laundry list of them, and don't take this as me being bitter as I know some people on here are, but this is an honest assessment. While the money is good, it used to be better...like 30% better until they cut the commission plan 6 months ago for no reason aside from we were making more then our competitors (this would be ok except we worked more and had way more micro managing and stress to deal with then a typical lender). You have no autonomy. The micro managing is unbearable and makes employees miserable at times. While the company cut pay, they also added numerous levels of micro managing and tasks bankers had to do which made it even more difficult to work there. The messaging on these were horrible as well...leaders will try to sell us on why these were good for "our businesses" which was comical and insulted our intelligence as people. HR is a disconnected, any issues brought to them rarely change. It's a frat house, which as a mid/early 20s male is great but if you're a woman stay clear, you'll get hit on like there's no tomorrow by bankers and leaders. Office gossip is on a high school level. Asking for vacation and time off is worse then the Bataan Death March...reasons my time off was denied include: I applied to far in advanced, I applied to late, I didn't "earn it" (which is hilarious as we accumulated it every pay period so explain that one to me), too many other people have taken that day off (they have 3,000 bankers, I don't think 1 more person not there is gonna end the company). You work 10-12 hours a day, 2 Saturday's a month and some Sunday's when you are new. Then if you're behind pace you'll get guilt tripped into coming it by you leaders. Leaders track everything you do and pester you for why you aren't doing more.

Viewing 49 - 51 of 5,628 Reviews

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