Rocket reviews

3.4

53% would recommend to a friend

(5,629 total reviews)
avatar

Varun Krishna

64% approve of CEO

48% positive business outlook

Rocket has an employee rating of 3.4 out of 5 stars, based on 5,629 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
3.0
Jan 23, 2019

Don't Buy It

Recommend
CEO approval
Business Outlook

Pros

- most people on the Team Member level in IT are great - very knowledgeable, eager to share that knowledge - benefits are solid, generous PTO program - you do get a lot of discounts at places around Detroit, though I didn't use them - they do seem to like to hire from within. it isn't uncommon to see people progress quickly, but you do have to wonder if it's genuinely deserved or just favoritism. - not a pro, but I didn't mind the culture. however, it would be nice if they practiced what they preached...

Cons

- pay is low for IT. - parking is as bad as everyone says it is. the shuttles are uncomfortable (hot in the summer, freezing in winter), very slow, and unpredictable (they definitely do not stick to their posted schedule). - the bonus/raise program sucks. you get reviewed in January for the previous year, and the bonus is paid in March. so if you started late in 2016 for example, you may not be eligible to be reviewed January 2017. so you could definitely end up working for over a year with no bonus, and no raise. - IT is definitely still a boys' club. as a woman, I was excluded from meetings at work and from outside of work hangouts (this was not just two people getting together, this was my whole team). I tried talking to my leader about it, and it fell on deaf ears. - your relationship with your team lead is going to be what determines how successful you are here. if, like me, you don't bond with your team lead because he holds some questionable views on women and black people and only wants to discuss how much he drank the previous weekend, you aren't going to get very far, no matter how hard you try. your team lead can absolutely block you from being moved to another team as well - it's crazy how much power they have over those decisions, rather than the power being in the hands of the TL hiring.

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Rocket Response
7y
Thank you for your honesty and we are genuinely disappointed in your experience and we would like to discuss it further. Please reach out to us at Lisa@quickenloans.com.
5.0
Dec 10, 2018

So many growth opportunities!

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

The possibilities really are endless in terms of advancing your career here. I started out as an intern straight out of college, was able to shadow other areas of Marketing to discover what I was truly interested in and when an opportunity opened up in HR (which wasn't a business area on my radar) I jumped at the chance to learn a very niche type of marketing! You are easily connected to team members throughout the company, which invites a very open and inclusive culture. My team is my favorite part of coming to work - they've become my best friends and make every day a blast here. I'm also very supported in balancing my home life and receive excellent benefits. I've been here for almost three years now and couldn't think of a better place to kick-start my career!

Cons

Echoing another review here - you truly just have to be willing and open to growing and adapting to change as the company continues to improve upon it's processes and technologies. Growth and change is far superior to being stagnant.

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Rocket Response
7y
Thank you for taking the time to write this review. We are so glad that you enjoy working here just as much as we do. We take pride in our team member experience and we hope to hear more great reviews from you and others soon since we believe they are having a great experience just like yourself!
1.0
Nov 19, 2018
Recommend
CEO approval
Business Outlook

Pros

There are still some great team members at this company.

Cons

I’m in refi banking and for as long as I’ve been here, there have been “comp plan” adjustments based on the market, rates, etc. However, earlier this year there was a significant cut in bonus payout to the tune of about 65%. A lot of tenured bankers have now left the company because of this. It really is a shame that greed got the better part of this once amazing company. The mortgage industry has started to slow down now that rates are going up and the purchase season is over with less business then expected due to limited housing inventory. You figure in these circumstances, QL would revise the comp plan to accommodate for lower volume, but instead they cut our commission by 65%. A few years ago when things were super busy, the payouts were great, and although QL keeps gaining market share and is having a strong year, bankers are making less now than ever before. This is across the board in all departments too. It really makes me sick, to see how a company that claims to be different from the rest, is now strictly profit driven. A few years ago, I would have argued with anyone who claimed QL was just like any other company. They treated us like family, and team members really felt like part of something bigger. Now I realize it was all manipulation, getting bankers pumped up to put up big numbers and now that those days are gone they could care less about us. We mean nothing to them, we’re just a number, and if one of us leaves they don’t care now since they’ve been firing employees like crazy. They talk about better work life balance, but that’s all a facade. If you work less, you don’t hit your numbers, and you’re put on letter for this. No matter how you slice it, bankers are working around 60 hours a week, but making a lot less than before. I feel like I’m stuck here now, and unless I can find something else that pays similarly elsewhere, I’m at the mercy of QL. Which will inevitably mean more pay cuts.

avatar
Rocket Response
7y
Thank you for taking the time to write this review. We are deeply disappointed to hear about your experience. We understand where you are coming from and think it would be better to discuss further. Please reach out to us at Lisa@quickenloans.com.
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