At Quicken Loans, 95 percent of employees say their workplace is great.

EMPLOYEE RATINGS

     

This review is based on 1333 employee surveys, with a 90% confidence level and a margin of error of ± 2.14. It was published on Sep 14, 2016. 94276 Visitors

What Employees Say

I feel good about the ways we contribute to the community.
97%
 
Our facilities contribute to a good working environment.
96%
 
I'm proud to tell others I work here.
96%
 
People celebrate special events around here.
95%
 
I am given the resources and equipment to do my job.
95%
 

What They Do

We asked Quicken Loans to explain what they do. Here is what they had to say.

 We are America’s second largest mortgage lender and largest FHA mortgage provider, helping clients from all 50 states with their home loan needs. Our 15,000 team members are passionate about fueling Detroit's revitalization. 

About this Company

Website: www.quickenloans.com Industry: Financial Services & Insurance
US Headquarters: Detroit, Michigan US Sites: 29
Major Locations: Cleveland, Ohio; Scottsdale, Arizona; Charlotte, North Carolina; San Diego, California US Employees: 13,690
Corporate Structure: Private Founded: 1985

Live studio audience for Pitch Day 2016

Perks and Programs

We asked Quicken Loans to share a few programs they feel really capture what's unique about their workplace. Here is what they had to say.

  • Live Downtown Program: Quicken Loans is dedicated to revitalizing Detroit and strengthening the city by increasing its resident base. To help continue the city's comeback, Quicken Loans has partnered with other large Detroit businesses to offer significant housing incentives through the Live Downtown Program. As part of the program, first time renters are eligible for a $2,500 stipend their first year and $1,000 for their second year of renting. Those choosing to purchase a home can receive $20,000 in forgivable loans for purchasing a home, with an additional $5,000 also available for home improvements.
  • Bullet Time: A key component to allowing team members to set the direction of the company is giving them freedom to innovate and providing the time and resources to do so. Quicken Loans helps create an atmosphere of innovation with “Bullet Time,” a weekly four-hour period in which technology team members can work on any personal project or idea they want, even those not directly related to the Quicken Loans business.
  • ISMs Day: All new team members attend ISM’s Day, an intensive orientation geared to immerse them in Quicken Loans' culture and to challenge them to rethink common ways of doing things. During ISMs Day, Founder Dan Gilbert and CEO Bill Emerson spend an entire 10-hour day focusing on our core values, or ISMs, which are 19 principles that are the foundation of the company's culture and how they guide all decisions. Dan and Bill even provide their cell phone numbers at the end of the day with instructions for team members to call at any time with questions or concerns.
  • Pitch Day: A company-wide initiative to find incredible concepts that empower team members to impact the business more than ever before. Team members submit their ideas and are then selected to present in front of a live audience of 300 colleagues while the rest of the company watches on a live broadcast. Team members with the best idea receive a paid vacation with their significant other, and the opportunity to implement their idea, while runners-up each receive $500 gift cards.
  • Free Trips: Quicken Loans team members earn vacation trips throughout the year to destinations like Miami, Cancun, Hawaii and the Caribbean. Quicken Loans Founder and Chairman Dan Gilbert is the majority owner of the Cleveland Cavaliers, the 2016 NBA champions. Throughout their historic playoff run, 650-plus tickets were given away to team members to attend a live game. Additionally, Quicken Loans gave away more than 700 concert tickets and 40 all-access passes to the Quicken Loans National PGA golf tournament, as well as 1,500-plus tickets to other events in 2015, ranging from NASCAR races to games for other local sports teams.
  • Zupdate: Few employees at companies across the country have the opportunity to see Warren Buffett speak and answer their questions for an hour as part of a live studio audience. This happened on a special edition of Quicken Loans’ Zupdate (so named because we update team members on what’s up) – a monthly, live webcasted show featuring the company’s leaders and issues important to all of our team members. In addition to Mr. Buffett, we have welcomed the Quicken Loans-sponsored NASCAR driver, Cleveland Cavaliers broadcasters (along with the Cavs’ 2016 Championship trophy), Detroit business owners and entrepreneurs from our entire family of companies. As with anything else Quicken Loans does, it is creative, fun and over the top.
  • Face to Face with Bill Emerson: Many companies say they have an open-door policy, but how many actually invite their team members to lunch with the CEO? And how many companies not only request, but expect honest feedback? Quicken Loans takes open communication seriously, so every month our CEO Bill Emerson conducts face-to-face meetings over lunch with a group of up to 20 team members. The three-hour meetings are a no-holds-barred discussion with no formal agenda. The meeting starts with getting to know Bill better, but always ends with discussing team members’ role and their ideas on how to improve the company from little things to big picture ideas.
  • "The Journey" Leadership Development Program: Giving team members resources to invest in their growth is critical to their professional and personal development. Quicken Loans created “The Journey” in 2015 to give team members at all levels an internal leadership development resource. The program has seven levels, beginning with “leading yourself,” and finishing with “leading an organization.” In 2015, 3,343 team members completed Level 1 of the program, which includes a mix of videos from senior leadership, quizzes, assignments and review and feedback sessions with the team member’s leader.
  • Infertility Coverage and Autism Care: Regardless of the situation, we make sure our team members have the medical coverage needed to ensure the highest quality of life and peace of mind for the most important people in their lives. Our medical insurance covers infertility procedures, including In-Vitro Fertilization. Not only do we cover the cost of the prescriptions, which often is around $10,000, we also cover all procedures associated with IVF. Our medical insurance also covers all procedures, testing or therapies needed in the treatment of autism. Many states have minimum required coverage (often with an age and dollar limit), but we extended this coverage for all care for all dependents under the age of 18 years old with no dollar limit.
  • Health-Friendly Amenities: Beyond offering great benefits, it’s important to us that our team members have plenty of avenues to exercise and unwind. Quicken Loans has a private, two-story gym and fitness center that’s available to all team members and is on-site at our headquarters. The gym includes an upper-level track, cryogenic spa, cardiovascular and weight training equipment, full-size basketball and racquetball court, and hosts fitness classes with certified trainers. Quicken Loans team members also have exclusive access to a free bike share in the city of Detroit, treadmill desks, nap pods, drop-in yoga available at a discounted rate of only $5 per class and vegetable trays that are delivered to every office kitchen once a week.

COMPENSATION BY THE NUMBERS

$72,671 Average salary and additional cash compensation for CCS - Mortgage Loan Processor $124,717 Average salary and additional cash compensation for Mortgage Banker
50% 401(k) match of employee's contribution, up to 7% of an employee's salary75% Company-paid health coverage for employees
72% Company-paid health coverage for dependents 60% Company-paid health coverage for part-timers
20 hours Weekly hours required for part-timers to receive health insurance $5,250 College Tuition Reimbursement

COMPENSATION PROGRAMS

  • 401(k)
  • Pre-tax savings account

PERKS TO MAKE LIFE EASIER

  • Free snacks during the day
  • Free lunch on a regular, daily basis
  • Free breakfast foods on a regular, daily basis
  • Massage therapy
  • Fitness classes
  • Weight watchers meetings
  • Convenience store
  • Dry cleaning
  • Personal travel service
  • Free beverages during the day
  • Subsidized lunch on a regular, daily basis
  • On-site package/mailing service
  • Discount ticket sales
  • Car wash
  • Hair salon
  • Vehicle maintenance
  • Banking
  • Subsidized public transportation
Team members take a break to play Golden Tee golf

WORK-LIFE BALANCE BY THE NUMBERS

32 days Paid time off after one year of full-time employment 20 days Paid time off after one year of part-time employment
26 days Paid sick days after one year of full-time employment 13 days Paid sick days after one year of part-time employment
36 weeks Unpaid sabbatical after 5 year(s)

WORK-LIFE BALANCE PROGRAMS

  • Flexible schedule (45% use it)
  • Job sharing (1% use it)
  • Telecommute option (22% use it)
  • Compressed work weeks (1% use it)

FAMILY CARE BY THE NUMBERS

90 days Job-protected maternity leave10 days Fully-paid maternity leave (does not include personal vacation or paid time off)
89 days Average length of maternity leave new mothers take10 days Job-protected paternity leave
10 days Fully-paid paternity leave (does not include personal vacation or paid time off)8 days Average length of paternity leave new fathers take
$5,000 Adoption benefit90 days Job-protected parental leave for adoptive parents
10 days Fully-paid parental leave for adoptive parents (does not include personal vacation or paid time off)
*Employees are not required to use all their personal paid time off before taking parental leave. All employees are eligible for parental leave benefits.

FAMILY CARE PROGRAMS

  • Onsite child care (only at headquarters)
  • Lactation room(s)
  • Paid sick leave to care for a child or relative
  • Offsite subsidized childcare
  • Elder care resources

HEALTH INSURANCE COVERS

  • Medical care
  • Vision care
  • Mental health care
  • Fertility treatments
  • Dental care
  • Prescription drug subsidy
  • Alternative treatments (such as acupuncture, homeopathy, or chiropractic)

ONSITE HEALTH BENEFITS

  • Skin cancer screening
  • Blood pressure screening
  • Complete biometric screening
  • Medical facilities (only at headquarters)
  • Cholesterol tests
  • Flu shots
  • Fitness center (at some locations)

Community Involvement & Philanthropy

8 hours Paid time off to volunteer $16,000,000 Philanthropic donations in last year

Diversity

  • Formal programs support professional development for: Under-represented racial/ethnic minority groups; Women
  • Married employees in same-sex or heterosexual relationships receive the same benefits
  • Non-birth parents in same-sex relationships can take parental leave

Executive Diversity

 
Yoga sessions are commonplace at Quicken Loans

Demographics

 
It's always football season on the mortgage banking team

How to Get Hired

We asked Quicken Loans for some inside information on how to get hired at the organization. Here is what they had to say.

What key characteristics tell you a prospective employee will be a great fit for your company?

When speaking with potential candidates, we want to ensure the candidate is a right culture fit for Quicken Loans. Our organization works as a team - everything we live and breathe is a collective effort of each group within the company. We work together in the office, give back to our communities, and have some out of the office fun.

We also look for enthusiasm and curiosity. Enthusiasm will show in their work every day and in their passion to live our culture and our ISMs. This enthusiasm manifests itself in their work, and is contagious to those around them. We also look for candidates who are e passionate about joining our efforts in rebuilding Detroit. Curiosity will drive them to find new ways to do things and discover inches of improvement. 

What can prospective employees do to get your attention?

Quicken Loans’ hiring philosophy is to find people who will fit in with our company culture, and prioritize this culture above everything else. While experience plays a large role in the hiring process, we look for people who are excited to come to work, with fresh ideas and who are ready to act on their ideas. We want people to give their best each and every day and feel that the work they are doing is impactful to our company.

We have developed extensive training programs to ensure that team members are experts in the field they pursue within the company, which allows us to hire someone based on their culture fit. We can teach the skills needed to perform the tasks a job entails, but we cannot teach positive attitude and the self-motivation. Candidates need wow us with their positive outlook and ambition when interviewing for any position.

Are there any positions or types of candidates you are particularly focused on hiring in this coming year?

In 2012, we started our veteran hiring program with one recruiter. We now have a team of six veteran recruiters who are all veterans themselves, focusing all their time on hiring veterans. They understand not only what a retiring service member’s experience means, but how to communicate with them. Quicken Loans created what we call the Tour of Duty program, which gives veterans corporate experience for their resume while transitioning from active-duty service. Our veteran recruiters found that experience during active-duty service doesn’t always translate perfectly to a corporate resume. This program gives veterans the ability to gain valuable experience, with the opportunity for full-time employment at the end.

In late 2015, with the help of more than 500 Detroit-based developers, designers, and technicians, Quicken Loans launched Rocket Mortgage. This development of new technologies will further increase our need for top technology talent in 2016.

What should interested candidates do to find out more and get started?

Nothing shows a recruiter how dedicated a candidate is, than someone who has done their research. A candidate who has already read up on Quicken Loans history, recent news and culture on quickenloans.com and invested time reading excerpts from the press room, careers page and company blog. 

To get started with the application process, applicants should submit a resume at www.quickenloanscareers.com. Our recruiters call back EVERY single applicant who applies, within 24 hours per our company’s policy. The potential candidate can then speak to a recruiter if they have questions about the job or our company.

hiring Outlook

8,277 Job openings forecast for coming year 19% Job Growth
16 Average applicants per opening 128,140 Applications received
4,365 Positions filled in past year 44% New hires by employee referrals
915 Jobs filled by current employees Yes Recruits on college campuses
772 New graduates hired 13% Voluntary turnover for full-time employees
19% Voluntary turnover for part-time employees
* All figures refer to 12-month period prior to reporting, unless otherwise noted.

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