Rocket reviews

3.4

52% would recommend to a friend

(5,628 total reviews)
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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
2.0
Apr 19, 2022
Recommend
CEO approval
Business Outlook

Pros

-great compensation at first but declined as RM went public -great training, constant learning to get better -Great for young people straight out of college. This was my first full time sales job out of school and I thought it was amazing -I have nothing bad to say about my direct leaders. I worked for 4-5 different leaders and I think they were genuinely interested in my life and how I was doing. I can't say the same for anyone above them in the ranks -Good PTO -Helpful with discounts on purchasing your own home/refinancing your home

Cons

The hours are insane. You work 65-75 hours a week to hit goal each month. The compensation is only great if you hit goal. I went from making 15k in 1 month to making around 4k in another bc I was 3 loans short of goal. The salary is incredibly low and its pretty much all commission driven. Which is fine, but the goals weren't attainable. I worked mainly on the purchase side, we had 2 scheduled weekend days each month but I could say that I literally worked every single day bc of clients calling me or my director asking me what is going on with a potential client. The micromanagement was unbelievable. If I was off my dialer for 5 minutes, my director was asking me what I was up to. Its ridiculous because as a banker, you have so many other responsibilities than just being on the phone. Even after you are doing well, and on the verge of promotion, you get micromanaged. Having like 6 1 hour call blocks a day for inbound calls while still maintaining a pipeline of 200+ people is crazy. They expect you to be on the phone even when you aren't on call block. They expect you to work the scheduled 8 am - 7pm each day but also have the mentality of coming in early and leaving late This place almost destroyed my relationship - The burden of working each day from 8am - 7pm while trying to maintain a social life/relationship/having actual hobbies became too much. I say that as 24 year old with no children. I could only imagine how difficult that is to deal with when you have children. The higher ups don't care about you. I distinctly remember having a private conversation with my director and my RVP and I expressed my concerns about my personal life, and they told me that I have to explain to everyone that it is "just part of the job" that I have to take a phone call from a prospect at 8pm on a Saturday night. They have these things called "ISMS" which are just slogans that they use as ways to handle different sales situations. Its all a big sham and is very "cult" like. I quit during the Summer last year and it was the best decision I could've made for myself. After working for a new company that actually values work life balance and their employees, its crazy to see how Rocket Mortgage is ran The turnover rate should be really telling. My hiring class was like 55 people and by the time I quit, I think only 10 or so were left in banking.

2.0
Nov 30, 2021

Puts the "Cult" in "Culture"

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Overall decent pay. If you aren't a banker, you have some flexibility in your work and any future projects you propose. There are also solid professional development resources on some teams, plus very good educational resource programs throughout (curated digital library of business books, sponsored MBAs/MS/certifications) IF you ever get the time to utilize them. The health benefits are as excellent as rumored.

Cons

The blind worship of the company here is unsettling and unhealthy. Bankers are pushed for long hours and are intensely mistreated, only to turn around and brag about sleeping at their desk. Tech teams are given "high-priority" messaging with every, and I mean EVERY project, though those projects often leave little impact, if they aren't scrapped altogether. Though you are provided with support to professionally develop, the artificial urgency of everyday work means that you will mostly be doing that on your own time. Any conversations about raises are kept vague until you're provided with false sincerity and a line about how the decision is out of your Team Leader's hands. There ARE career opportunities in the definition of promotions, but those opportunities are insidious, and come with a price that is definitely not worth it--usually a double-packed schedule and slow draining of your sense of self. This wouldn't be all that different from similarly sized companies, but what feels different here is that people buy into what they are being sold. Even mild critique simply is not spoken. When issues are brought up, the most likely result is that the person raising them will be handed from manager to manager and talked into circles until they come back blaming themselves, telling a different story than what actually happened, and quoting the ISMs. Feedback on the company goals is always tight-eyes-stretched-smile positive, which means that any endeavors to address real problems--sorry, I mean "challenges"--can only ever scratch the surface level. There is a lot of lip service paid to diversity and inclusion, but constant blindness and tokenization. While there are some overarching programs in the works, no real efforts are made to support employees in marginalized groups on a day-to-day basis. (As an example of this uncanniness: at least 30% of the people on my team were LGBTQ+, but it was a rare case that any of us would feel comfortable mentioning our partner, family, or general life experiences in group settings.) This job provided me with the financial means to set up a baseline for myself and make active decisions about my life. Mainly, it allowed me the decision to quit. I was offered a significant raise when I sent in my resignation; I had a pile of stocks vesting in less than a year. I did not have a plan. I did not leave for a new position. I just left. I had a cushy job in the grand scheme of things, but nothing would have been worth it to stay. It's been a few months, and I truly believe walking away when I did was a crucial decision of my life. I lived off of savings. I got actual rest. I rebuilt relationships and support systems. I volunteered for local organizations and found somewhere I feel like I can be a person in the world. I am genuinely happy. If you're reading this and you've been offered a job at Rocket: Be careful. This can be an opportunity, but it all depends on how you handle yourself within it. Know who you are. Keep your goals in your mind, get the resources you need to meet them, and then for the love of everything you care about, get out.

1.0
Sep 21, 2018
Recommend
CEO approval
Business Outlook

Pros

Well, there's still the free popcorn.

Cons

QL used to be "the" place to work in metro Detroit. It was a friendly, vibrant, challenging environment where people felt happy to come to work everyday. We gave the middle finger to typical corporate America organizational structures and procedures and were proud to call ourselves Quicken Loans team members. The culture and the ISMs are truly what drove the company day in and day out. Team members were rewarded for their hard work and loyalty. Opportunities for advancement were plentiful, and for the most part handled fairly. The organization truly was "flat", and people felt empowered to talk to any member of leadership with concerns or problems, no matter how high up the food chain they were. That has all changed, nearly overnight. In the last 6 months there has been a MASSIVE wave of non-stop firings to the tune of nearly 30% of the underwriting force. Leadership has the audacity to stand up at an E3 meeting and tell everyone that the rumors about people being fired at a rapid pace are not true. I know of a few hundred people that would probably dispute that lie. All work from home privileges have been removed (unless you're lucky enough to live 50 miles or more away from QL), and micromanaging is the new norm. Team leaders have been neutered and have absolutely no power to make their own decisions anymore. They merely parrot back what they are told to regurgitate behind closed doors. Morale took an absolute nose dive, the likes of which I had never seen in my 10 years at QL. It makes me sad to see what it has become. I made many, many dear and close friends over the years. I defended QL on social media when friends and former employees would accuse me of "drinking the kool-aid". Drink it? Hell I guzzled it by the gallon. It truly was an awesome place to work, and it is heart-breaking to see what is happening to the friends I still have on the inside. They live in fear and indescribable stress day-to-day not knowing if today will be their day. If you are looking for a typical job at a typical corporate American company, this is the place for you.

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Rocket Response
7y
Thank you for your honesty and constructive feedback. We understand where you are coming from and think that it would be helpful to discuss further. So, if you would like, please reach out to us at Lisa@quickenloans.com.
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