Rocket reviews

3.4

52% would recommend to a friend

(5,628 total reviews)
avatar

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
3.0
Sep 14, 2015
Recommend
CEO approval
Business Outlook

Pros

Lots of opportunity for bonuses , commission , contests , way more freedom that most work environments , "fun work environment " , you can wear what you want- even though they try to make you wear a suit, you do community service, makes you have amazing work ethic because you are used to working 24-7. You get to see the CEO and Dan Gilbert and whoever else you want to see they walk around there all the time , you can win tickets to shows, games( I love sports to this was awesome) GO CAVS , you get discounts on the stores in the area and online , if you focus - you can make LOTS of money, they really care about client experiences

Cons

Very very sales focused , production focused , you're graded on everything you do. ..thousands of emails about your production sent to the whole company, Hours = 65/week, there is no overtime- you get paid half time, lots of favoritism , they target young ppl who really need money (out of college) , they downplay education and make you feel like if you're not successful with Quicken you won't be successful in life , lots of responsibility and unrealistic expectations , your boss will yell at you and try to intimidate you- threaten your job all the time. You can only move up if you do well in mortgage banking - if not you will be on performance letter and get fired. You can never move anywhere else in the company. Everyone gets drunk after work and smokes weed ( or their drug of choice) just to function. Even with all the money- it's still not worth it if you're a mortgage Banker. It's very easy to get fired. If you don't drink the kool aid - you won't be there long. AND also you can barely go to the bathroom or eat. They try to bring lunch right to your desk so that you can work through lunch. Everyone gains at least 20-50 pounds there. Easy to make money but if you make a mistake or if a client makes a mistake it could cost you up to 500 dollars each time. ( out of your check and one time I owed the company money. ) Bottom line. Get as much money as you can & LEAVE. definitely not a forever work environment. You'll die there. And they'll just hire someone else to take your place. Mortgage bankers are like the army of QL. I almost ruined my marriage working here. My wife hates me still. I texted my boss and told him I quit. He never responded.

1.0
Mar 1, 2022

It's a trap

Recommend
CEO approval
Business Outlook

Pros

Pros include exceptional SAFE training and onboarding to the company, albeit deceptive to what is to come after your first month. Excellent benefits and PTO. Diverse culture/people.

Cons

70 hour weeks (minimum 65 hours). Insane micromanagement. No more work-from-home. No breaks, can't be paused from your dialer for more than 2 minutes, not allowed to clock out for a lunch, forced to bring food to eat during "Academy" class time when I'm supposed to be learning banking technology. Anyone paused for over 2 minutes gets named and shamed in regional chat. Daily name and shame emails of lowest performers of the day (doesn't account for downtime due to class, appointments, illness, etc). Directors do laps around cubicles and watch everything you do. Cell phones not allowed on Foundation floor, director doesn't allow us to watch videos on second monitor while dialing. Required 40 transfers (cold calling and transferring call to licensed banker) per day when it is purely luck based on people picking up the phone. Market and interest rates are going up so less leads going around, leading to nobody to call by 3pm. 14 hour days. LOTS of Teams meetings throughout the day. Public humiliation instead of handling issues privately. I literally want to die every day.

1.0
May 11, 2022

A Company in Chaos and Decline

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Work/life balance is solid. Benefits are great, especially if you're looking to buy a home.

Cons

SHORT VERSION * Rocket is in decline across multiple metrics * Poor leadership cascading from the CEO to VPs to mid-management * Chaotic, confusing work environment * Below average pay for technology positions LONG VERSION Rocket Companies is in decline. The company is slipping in mortgage company rankings, customer service ratings, and revenue. Employee attrition is on the rise. This decline is driving a full blown identity crisis as Rocket struggles to correct its culture and strategy. Signs of the struggle are everywhere. For one thing, Rocket Companies has changed its name several times in less than a year. CEO Jay Farner gets paid tens of millions a year for his milquetoast leadership. "Work harder" and "be more positive" are his mottos that he repeats in every company address. You don't need an MBA to know a strategic vision is necessary to keep a company going, and Jay Farner just isn't it. In absence of a vision from the CEO, it fell upon his VP leadership to create a new strategy. Leadership bought the personal finance app TrueBill for over a billion dollars. This was a massive, hasty acquisition. Sometime later, certain VPs admitted to their teams that they acquired TrueBill quickly and without much of a plan. This was a shocking admission but confirmed what many employees suspected from the start. Embarking on such a large acquisition without a concrete plan is an indictment of Rocket's leadership. It’s reckless and shows a disregard for the health of the company and its many employees. After the deal with TrueBill closed, Rocket employees were tasked with integrating TrueBill into Rocket's software. As there was no plan from leadership, it fell to mid-managers and individual contributors to determine how to combine two very different software products. The result was chaos and confusion. Numerous teams across the company are doing duplicative or contradictory work. Most teams are churning as they create and recreate their work every week with no goal in sight. Some teams are not working much at all, having been given no direction by their equally confused mid-managers. Leadership is not engaged or helpful; they shift blame to their subordinates and provide no direction. People are continuously moved around to different teams as departments are consolidated and people leave the company. If all that was not enough, my director abruptly fired my manager and made no attempt to contact me even though he knew I was unhappy and seeking an internal transfer. In my exit review, my director had the gall to criticize me for not doing more to get his attention even though he had ample knowledge and time to “do the right thing." His comments confirmed that leadership at Rocket Companies, from top to bottom, is baffling and impotent. Take your talents elsewhere.

Viewing 16 - 18 of 5,628 Reviews

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