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
1.0
Feb 8, 2022

Mortgage Banker Review

Recommend
CEO approval
Business Outlook

Pros

Good if you don't have a family, are single and want to work 70 to 80 hours a week to have an opportunity to make 200k+ Good training. Many people start at Rocket to get licensing and go somewhere else after 6 months. Good if you are in the right spot but you make be moved to a bad spot with a 3 day notice no matter your tenure

Cons

Teams average about 16 bankers per team and at any given time of the year at least 2 team members are on a mental health leave 70% turnover in first year Gaslight employees You are always underpaid compared to every other mortgage company around. Managers will text and call you at 11pm or 5 am. No boundaries You may get moved to a good or bad team no matter how you perform All politics and is basically a frat house Leadership isn't concerned about creating a sustainable business and are all waiting for stock options to quit and go to other mortgage shops Unrealistic goals to hit within 50 hours a week Leadership will tell you on Friday to cancel any plans you had for the weekend and to work Saturday no matter how many loans you've sold You work 7 days a week Vice presidents tell directors to make life miserable for bankers that they want to quit so they don't have to fire them and pay unemployment Females are constantly harassed Top talent is continuously leaving from all levels and many of the directors will tell you they plan to leave within 2 years from now You can make 200k at 40 hours a week at many other places No concern if the mortgage benefits the client Comp plan will change 6 to 7 times a year to cut your pay and make you work more hours You're just a number Bankers who are making 200 to 300k and leaving is a big red flag

1.0
Nov 18, 2021

Sucks, the mcdonalds of lenders

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Training is good. You get a lot of at bats selling loans and thinking on your feet to develop your craft.

Cons

Pay, work life balance, you only get one type of lead source. Why? You can only get live transfers, or be a chat banker, or work with existing customers or do purchase? Why not all? You know why? To grind your azz and make each rep work that much harder from their one source, thats why. The commission is the worst in the industry, literally the worst. 250 dollars per conditional approval, when you make goal. Top tier maybe averages to 450 per loan. Criminal how underpaid you are.

3.0
Nov 11, 2021
Recommend
CEO approval
Business Outlook

Pros

You will get a ton of experience and knowledge if you take advantage of it and can turn that into a great career. If you are someone who meets the guidelines of their DEI programs you will get promoted faster than you can imagine. Fast turnover of employees will put you in leadership in a year or less if you even try slightly for it.

Cons

You will be paid half of what your value is if you do not move on, the only way to get a raise if salaried is to apply for a new role. Yearly raises are often 2-3% and well below inflation. Your employees will always make more than you with production bonuses and overtime, you will take a financial loss as management. The only reason people enter management is that your production goals will be raised always as an hourly team member and you will be demoted as you gain experience.

Viewing 91 - 93 of 5,629 Reviews

Glassdoor has 6,521 Rocket reviews submitted anonymously by Rocket employees. Read employee reviews and ratings on Glassdoor to decide if Rocket is right for you.