Quicken Loans Power Banker Reviews

Updated 6 Aug 2020

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3.6
26%
Recommend to a Friend
80%
Approve of CEO
Quicken Loans CEO Jay Farner
Jay Farner
9 Ratings
  1. Helpful (2)

    "Great pay, long hours."

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Power Banker in Cleveland, OH
    Recommends
    Approves of CEO

    I worked at Quicken Loans full-time for more than a year

    Pros

    Great pay Training was top notch

    Cons

    Long Hours Too much corporate kool-aid

  2. Helpful (1)

    "Bait and switch work environment"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Power Banker in Cleveland, OH
    Doesn't Recommend
    Positive Outlook
    No Opinion of CEO

    I worked at Quicken Loans full-time for more than a year

    Pros

    Unlimited earning potential, excellent sales training , great benefits

    Cons

    It’s scary working for a company that keeps telling you why it’s so great to work for them and keeps selling you on the job after you have been with them for 6 months. I realized how bad the turnover was once you actually get into the job and why they kept selling me on the position, seemed Iike trying to incorporate Stockholm syndrome. The hours promised during recruitment of 50ish per week were never as promised, the leads are watered down, and my 17 person training class was down to 2 people left with the company before I left.


  3. "Great time working there, but thats all you have time to do"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Power Banker in Detroit, MI
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Quicken Loans full-time for more than 3 years

    Pros

    Work Atmosphere, culture, support systems within the company.

    Cons

    work/life balance, Working weekends is expected

    Quicken Loans Response

    Job Board Specialist

    Thank you for your review. We are committed to our team member experience and will continue to work on improving our work-life balance. However, we are overjoyed that you recommend others to working with us and had such a positive experience.

  4. Helpful (5)

    "Great culture on teams but you're just a number to the company"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Power Banker 
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at Quicken Loans full-time for more than a year

    Pros

    -Great team environment -Can make a lot of money straight out of school or with little experience -Good sales training -Most people want to help you grow

    Cons

    -Pressure to work even longer hours with only receiving half time instead of overtime pay -Give cold leads when they say they are warm leads -Only care about the company image and not necessarily the bankers

    Quicken Loans Response

    Job Board Specialist

    Thank you for your review. We are committed to our team member experience and will continue to improve our work-life balance as well as cultivating a comfortable and transparent environment.

  5. Helpful (1)

    "Great Sales Training"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Power Banker in Scottsdale, AZ
    Approves of CEO

    I worked at Quicken Loans full-time for more than a year

    Pros

    Incredible sales training and lots of leads provided.

    Cons

    Long hours and weekend work is expected.

    Continue reading

    Quicken Loans Response

    Job Board Specialist

    Thank you for your review. We are committed to our team member experience and will continue to improve our work-life balance.

  6. Helpful (5)

    "If you don't like to pressure people, you will hate this job."

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Power Banker Refinance in Detroit, MI
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I worked at Quicken Loans full-time for less than a year

    Pros

    -Best vision insurance out there. My contact exam and contacts were covered and I recieved a large discount on my lenses and my frames were given a $200 discount. -You meet some great people. (You feel like battle buddies with all the stress you go through together).

    Cons

    This job is the traditional churn and burn sales job. For those who are smooth talkers that do not feel bad selling someone something they don't really need, this job has opportunity. For those who hate talking on the phone for 11 hours a day, and who do not like telemarketing, you will HATE this job. Here's why: -In SAFE training you get overtime over 40 hours and can work up to 60. Once you are salary, 60 hours is the minimum you can work. They tell you that you will have two days off every other week and one day off the opposite weeks. Not true. The "pace" days they offer are not optional. Your directors make you come in. You will get 1 day off a week and directors make you feel guilty for having that 1 day off. You have zero work life balance. I was also in school part time for my MBA and when I left at my scheduled time (8pm) to go home and take an exam, I got called into a meeting the next day and was told I had to choose work or school and should not have left at my schedules time unless I had a loan. -The shuttle sucks. If you dont pay out of pocket for parking, be prepared to spend 45 min to 1 hour every day on the shuttle going to and from your vehicle. Time you could be sleeping or spending with your family. -The positive culture is beneficial to making friends but in the end, the company doesn't care about you. If you get sick or lose your voice and you can't make sales that day they will be sure to let you know how much you let your team down. It is 100% about sales. They give you crappy leads where people do not qualify for the loan or they have already told other people no. You will spend most of your day trying to talk someone into giving you their credit score so you can "help" them, only to find out they don't qualify, then they get mad at you for pulling their credit. If you have any conscience whatsoever, you will feel bad and want to quit. -The supervisors are trained to tell you that you will make a ton of money. You will hear it non stop. In actuality, the ones making the commission were the ones that hired in when interest rates were 2.5%. People were refinancing left and right. They got their Presidents Club status and now they get the best leads. People who call wanting to refinance. You as a new banker will never get those leads. You will be getting transferred people who hate you and were called non stop by 6 other companies. Interest rates are rising and QL is one of the most expensive companies to refinance with. It is very difficult to make a living there. -The goals are difficult to make. My first month on the banking floor I did well. I had a $2100 commission check and then got my $1500 bonus from passing the SAFE exam, but every month after was a mess. I barely brought home $700 a month in commission and you work so many hours that you make less than minimum wage and they have to pay you extra to bring you to the state minimum. They will smile to your face and tell you that you need to work harder and work more hours but it is not worth your health and happiness for $2000 a month. -They tell you that you can always transfer to another department but they lie. If you hire in as a banker you must wait 1 year to transfer and by the you are burnt out from working 6-7 days a week. Once you hit thenyesr they play games and will only transfer you to another banking department and that is only if someone else wants to swap or if they are hiring. It rarely happens. -You earn PTO but they urge you not to take time off. Your director must approve it and since they make their sales goals and commission off of your sales, they don't like to approve it. Unless you are a director and a lead salesman, you get treated like a peon. -They mention that some bankers work only 35 hours a week. Those are bankers that make above goal. If you have morals and ethics, this will not be you. I promise. I had a manager approve a $2,000 discount for a client of mine and when it got to closing the other department removed it. I pointed it out and he said "Too late now. If they delay closing they have to pay more anyways to extend., so do not say anything and just let them close." QL does not care if the managers lie as long as they get the sale in the end. I had another director hop on my call and try to sell a client a loan that would save him $100 a month now but would extend it another 15 years whereas if they person just kept doing what they are now, their car would be paid off in 2 years and they could apply the $500 payment to the home and have it paid off in 5. I agreed with the client to not refinance but my boss did not want to lose the sale and tried to make the guy feel like a Morgan and told him the $100 now was worth more than an uncertain future. That is what you are dealing with.

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    Quicken Loans Response

    Job Board Specialist

    Thank you for taking the time to write this review. We appreciate your honesty and feedback as we always want to strive for the best team member experience possible but understand that there is always room to improve. We are committed to creating a comfortable, transparent and collaborative environment for all of our employees and will continue to work at doing so.

  7. "Great environment"

    4.0
    Former Employee - Power Banker 

    I worked at Quicken Loans full-time for more than a year

    Pros

    Money potential is there if your good

    Cons

    Work a lot changing hours

    Quicken Loans Response

    Job Board Specialist

    Thank you for your review. We are so glad that you love the environment here at Quicken Loans just as much as we do! We are committed to our team member experience and will continue to improve our work-life balance.

  8. "No better workplace"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Power Banker 

    I have been working at Quicken Loans full-time

    Pros

    QL has the best environment in the world. From day one you have the ability to search for help wherever needed. You can walk into the office of those higher up in the company and they are willing to lend a helping hand. The leaders set you up to be the most successful version of yourself and those around you hold you accountable to your goals. A job where you have the ability to impact someone’s life in a positive way while having fun doing so.

    Cons

    You work a few extra hours than most people, but if you want to succeed at anything in life you habe to put in the time.

    Quicken Loans Response

    Job Board Specialist

    Thank you for taking the time to write this review. We are delighted about your observation of our environment here at Quicken Loans and we will always be committed to our team members experience.

  9. "Power Banker"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Power Banker in Livonia, MI
    Doesn't Recommend
    Positive Outlook
    No Opinion of CEO

    I have been working at Quicken Loans full-time for more than 3 years

    Pros

    Downtown Detroit is fun. Good food, good perks, benefits

    Cons

    Management, hours, pay, office environment

    Continue reading

    Quicken Loans Response

    Job Board Specialist

    Thank you for your review. We are committed to creating a comfortable, collaborative & transparent environment for our team members and appreciate your feedback so we can continue to grow.

  10. "Power Banker"

    5.0
    Current Employee - Power Banker in Detroit, MI
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Quicken Loans full-time for less than a year

    Pros

    Love the culture, the people. LOVE what I do.

    Cons

    Sometimes communication can be tricky

    Continue reading

    Quicken Loans Response

    Job Board Specialist

    Thank you for your review. We appreciate your kind words and are so glad that you recommend others to working with us here at Quicken Loans!

Found 21 reviews