Rocket reviews

3.4

53% would recommend to a friend

(1,761 total reviews)
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Varun Krishna

63% approve of CEO

47% positive business outlook

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2K reviews

Reviews about "Compensation"

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1.0
Dec 9, 2012
Recommend
CEO approval
Business Outlook

Pros

Met some cool people, the decor of the buildings were interesting, lots of materials to study for licensing exams, had a classroom feel for the begining of banking to teach about mortgages/loans which was nice instead of dropping you in a pool and telling you to swim. A friend wanted to work there in a non-banking position, I told her my experiences but I also told her to try it out, it may be for her. Through the company's referral program while I was there, another friend got into the banking poisition and she is still there and seems to love it.

Cons

This company and their family of companies was total big-brother, mostly fake people (I emphasize on some), and a nightmare! I really wish I didn't do the banking! I have a feeling if I waited and was offered an "hourly" position--not a crazy commission circumstances--it would have been better. We moved into 3 different buildings 3 times in the 6 months I was there. Basically don't get "too" comfortable at your desk. If you are not a lap dog to your directors they insult and belittle you. "Relationships" were formed as friends up until I left they were dissolved, therefore answers that a lot of people were fake. They had a wonderful benefits package but how dare you make an appintment to get your teeth cleaned or go to the doctor! I luckily decided to leave before the month was up so I had a few weeks to finally go to appointments and use my health and dental insurance! When others quit before me it was usually done in secret because if you decide to quit while at work they escort you out like you are some deviant! When it was time for me to leave I did it as if I was leaving for the day with my things, not making it obvious then just emailing my director the next day saying it wasn't for me. They claim they want you to discover yourself as a person but what I found was some sort of streamlined way to turn people into work zombies. I was "different" and I think they saw that so that could have been why it felt hellish there for me most of the time.

2.0
Oct 31, 2012

Don't buy the hype!

Recommend
CEO approval
Business Outlook

Pros

Laid back very non- PC culture. Best I've ever seen.

Cons

The hours are a killer! There is no work life balance. Out of my training class only a few months ago 40% of the people have quit and another 20% of them (myself included) are plotting our escape. And let me tell you, when you turn against the culture the company goes from sunshine and lollipops to creepy. If their recruiters find your resume online, expect a meeting with your manager. If you try and leave to go to another bank they will remind of a non-compete clause you signed that prohibits you from going to another company. They work operations people a mandatory 50 hours a week. Plus if you actually want to earn the money that they sold you on, you have to work weekends to get it. And I'm not talking a Saturday here and there. I mean a FULL weekend. I've worked many weekends Friday night through Sunday 20 - 30 hours in order to hit bonuses. They will sell you on unlimited earning potential but keep in mind only a small handfull of the entire underwriting floor is earning a bonus because you have to hit such a high number of loans closed. They may dangle to oportunity to work from home too, but don't be fooled. There are only a couple of people who actually have the production numbers and quality to get this benefit. All of this has convinced me to go back to my original employer.

4.0
Sep 25, 2012

Mortgage banker

Recommend
CEO approval
Business Outlook

Pros

Very high income, fun environment, young & energetic work force, countless contests and prizes.

Cons

8:30-8pm hrs. With 1 Saturday a month. Comission pay plan constantly changes to reduce pay per unit when the market favors high production. Highly micro-managed, but it does keep bankers focused. High focus on production, production, production and a what have you done for me lately (last 2 hours) atmosphere at times. Must be "auto'ed in" for call blocks, and not given necessary time to focus on pricing and other client tasks.

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