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      Rocket

      Engaged Employer

      Rocket reviews

      3.4

      53% would recommend to a friend

      (5,631 total reviews)
      avatar

      Varun Krishna

      64% approve of CEO

      48% positive business outlook

      Ratings by demographic groups

      Rocket has an employee rating of 3.4 out of 5 stars, based on 5,631 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
      Apr 16, 2019

      Opportunity comes at a cost

      Mortgage banker
      Recommend
      CEO approval
      Business Outlook

      Pros

      If you are willing to trade in your time for the opportunity to build an amazing career, this is a great place. It's a fast-paced sales job, and you need to be willing to work 7:30-9:00pm, most days, 5-6 days a week, most weeks, period. Do that, and follow the amazing coaching and leadership to a tee, and you'll succeed. Try to go your own way, or to do anything short of close, close close the sale... you'll struggle. Your pay is based on exceeding goal, and goal is meant to be met by half the region or so. Hit goal and you'll see $2800/mo hourly plus about $4000 commission. You can absolutely find success. The team gives you every single opportunity to be financially set, however as a banker, it is accepted that you will not have a life outside of work, period. After 4 years of extremely high success and hours, you may become a level 5 President's Club banker, who can sometimes work from home but will enjoy $20,000 in commissions each month for the same volume that earns intro bankers $4,000-10,000. That's the tradeoff: time for payscale and some flexibility.

      Cons

      Miss goal, even by one or two, and you'll be looking at $2800 hourly and around $1000 commission. For 70 hours a week (yes, 70, no matter what your tiering is), you better be pushing yourself to earn the business. Not to mention, clients drop out of process, no big deal. Just be sure you write enough business to make up for the hit. You will be free most days from 8-10pm, and maybe one day a weekend. You are expected to come into the office on weekends, and encouraged to come both days. Goal is meant to be hit, and you are meant to come in 27 out of 30 days a month, believe it.

      avatar
      Rocket Response
      7y
      Thank you for your detailed review. We appreciate the time you took to write this as well as your honesty. We value the talent and skills that you bring to our company and we will continue to work on improving work-life balance.
      2.0
      Feb 15, 2019

      Consumes your life

      Underwriter and banker
      Recommend
      CEO approval
      Business Outlook

      Pros

      Technology- Best tech in the industry in my opinion, would not be surprised if they soon have a fully automated system for mortgage origination and processing/underwriting. (not exactly a good thing for employees in these fields though) Banking- Great sales training (depending on the director you get stuck with). Culture is fun but is very akin to brainwashing and is in place to try to make you forget that the company is consuming your life. You can make a lot of money if you are at least decent, granted this will be at the expense of your life. I was working about 14-16hrs a day making about 8-12k a month and I was not great at sales. Operations- You can make good money if you dedicate nearly all your time

      Cons

      Banking- Biggest issue is just the shear amount of time that you need to dedicate. Also if you do not get a good jump out the gate on the banking floor you will find yourself calling the bottom of the barrel leads which will most likely grind you out of the game as these are people that have been called numerious times over the previous 6 months or so and/or have been put through the process just to find out that there was nothing that could be done to help them. They having a tiering structure for lead distribution which makes sense to me but nonetheless does not create an environment to grow and flourish and is more similar to survival or the fittest or boiler room status as I've seen mentioned before. Operations- Your income will be based primarily on bonus's which can be hit or miss, your salary is less than half the market demand (for an underwriter anyways)(funny side story before myself and a bunch of other UWs left due to the change in bonus plan, they had a round table discussion trying to stem the hemorrhage of talent where they said we "shouldn't rely primarily on the bonus's" even though during the new hire interviews they specifically said that if we "didn't want to dedicate significant amounts of time to work on bonus's" we were better off "working at McDonalds"). Management is EXTREMELY BUREAUCRATIC! Be prepared for severe office politics. Also important thing to note especially if you are new to mortgage operations, each position is hyper specific to one particular facet of the loan process. They do this, in my opinion, to make if hard for you to leave since you never master the full skill set for a particular position that is equal to other mortgage companies positions. This fact is known in the industry and most companies will not hire (unless they have no other candidates) due to this fact. I had at least 2 companies tell me flat faced that they will never hire quicken employees since they do not possess the relevant skills. Overall the operations side is, for lack of a better term, considered the sweat shop of the industry

      avatar
      Rocket Response
      7y
      Thank you for your detailed review. We deeply value the talent and skills that our team members bring to our company and we want to ensure the best team member experience possible but understand that there is always room to improve and we will continue to work on doing so.
      2.0
      Aug 30, 2018

      Executive team have no compassion

      Mortgage underwriter
      Recommend
      CEO approval
      Business Outlook

      Pros

      Good pay and good benefits

      Cons

      Micromanaging by leaders and executive team who don’t care about getting rid of employees for nothing

      avatar
      Rocket Response
      7y
      We are disappointed to hear that you had a bad experience. We think that it would help to discuss further. So, if you would like, please reach out to us at lisa@quickenloans.com, we can discuss your specific situation further.
      Viewing 169 - 171 of 5,631 Reviews
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