At Quicken Loans, 92 percent of employees say their workplace is great.

EMPLOYEE RATINGS

     

This review is based on 1514 employee surveys, with a 90% confidence level and a margin of error of ± 2.01. It was published on Sep 8, 2017. 103329 Visitors

What Employees Say

I feel good about the ways we contribute to the community.
96%
 
I am given the resources and equipment to do my job.
95%
 
Our facilities contribute to a good working environment.
95%
 
People celebrate special events around here.
94%
 
I am able to take time off from work when I think it's necessary.
93%
 

What They Do

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

Quicken Loans the nation's premier FinTech lender. 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 16,000 team members are passionate about fueling Detroit's revitalization. 

About this Company

Website: www.quickenloans.com Industry: Financial Services & Insurance
US Headquarters: Detroit, Michigan, 48226 US Sites: 29
Major Locations: Cleveland, Ohio, 44113; Scottsdale, Arizona, 85260; Charlotte, North Carolina, 28210; San Diego, California, 92121 US Employees: 15,122
Corporate Structure: Private Founded: 1985

Quicken Loans team members pose on the company-sponsored Super Stadium Truck.

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.

  • Community Involvement: Quicken Loans serves a purpose greater than just growing our own business. That’s why we’re a “for-more-than-profit” organization, meaning that we use our success to help grow our community, too. Since 2010, we’ve directly contributed $126.5 million to numerous organizations and programming, as well as over 337,000 team member volunteer hours. Yet, our impact on cities like Detroit and Cleveland simply cannot be measured on a spreadsheet. Whether it’s teaching coding to Detroit Public Schools students, planting food in urban gardens or serving food to the hungry, we remain committed to a mission that’s powered by purpose.
  • Leadership Development Programs: Giving team members resources to invest in their growth is critical to their professional and personal development. That’s why Quicken Loans offers two road-mapped programs to all team members: The Journey and The Red Door Project. The Journey, created in 2015, takes team members through seven levels of leadership training, starting with “leading yourself” and finishing with “leading an organization.” The Red Door Project, on the other hand, started as a program tailored to women in leadership, but has since expanded to offer a six-month mentorship program to all team members, pairing them with senior leaders and creating connections within the organization and greater community.
  • ISMs Day: All new team members attend ISMs Day, an immersive orientation program oozing with Quicken Loans’ culture that challenges attendees to rethink the “normal” way of doing things. During ISMs Day, founder and chairman, Dan Gilbert, and vice chairman, Bill Emerson, spend the full 10 hours focusing on our core values, or “ISMs,” which are 19 principles that underlie the Quicken Loans and guide day-to-day decision making. Dan and Bill even provide their cell phone numbers at the end of the day, creating an open communication channel for any challenges, questions or concerns.
  • Pitch Day: Pitch Day is 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 selected to present in front of a live audience of 300 colleagues while the rest of the company watches via a live broadcast. Team members with the best ideas receive amazing prizes, including mentorship and seed money to further dig in and move their ideas forward!
  • All-Company Livestreams: Focusing on clear communication, we like to keep team members in the loop with real time updates. Currently, we use three platforms – Zupdate, The Q & Jay Show and Talk IT. Zupdate, the largest of the three productions, highlights the latest happenings and issues most important to our team members. It occurs on a quarterly basis and features a rotation of company leaders and special guests, like Warren Buffett. Like Zupdate, Talk IT provides company and industry updates, but is tailored specifically to our technology team. Added to the lineup this year, The Q & Jay Show stars CEO, Jay Farner, and a special guest, who answer questions from the live audience, as well as Tweets sent in from team members across the country.
  • Face To Face: Many companies say they have an open-door policy, but how many actually invite their team members to lunch with the Vice Chairman and CEO? And how many companies not only request, but expect honest feedback? Quicken Loans takes open communication seriously – so seriously that CEO, Jay Farner, and Vice Chairman, Bill Emerson, meet with a group of of 20 team members every single month. The three-hour meetings are a no-holds-barred discussion with no formal agenda. The meeting starts with getting to know Bill or Jay better, but always ends with discussing team members’ roles and their ideas on how to improve the company, from little tweaks to big picture ideas.
  • Bullet Time: Creativity and thinking outside the box are huge drivers of innovation. That’s why we created “Bullet Time,” a weekly four-hour period during which our technology team members are free to work on any project they want – be it company-related or not. This time of “play” and experimentation shakes off the mental confines of daily routine and has led to incredible techy discoveries, ranging from chat and email enhancements to ride share apps and lead generation shortcuts.
  • 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 free fitness classes with certified trainers. Quicken Loans team members also have access to 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.
  • Detroit Revitalization: As a Michigan born and bred company, it is our duty – and privilege – to make sure our surrounding environment prospers, especially in our hometown, Detroit. Since moving our headquarters downtown in 2011, Quicken Loans has tirelessly invested in rebuilding the city – restoring buildings, beautifying alleys with artwork from around the world, revamping parks and public spaces and stabilizing the economic infrastructure in Detroit’s urban core. In fact, this past Spring, we partnered to bring the QLINE downtown, Detroit’s first streetcar in 60 years. QLINE combines old world charm with sleek, modern design to alleviate the parking and transportation struggles that arise in any growing city.

COMPENSATION BY THE NUMBERS

$77,032 Average salary and additional cash compensation for Client Care Specialist (Mortgage Loan Processor) $184,885 Average salary and additional cash compensation for Mortgage Banker
50% Match of employee’s 401(k)/403b contribution up to $2500 of salary70% Company-paid health coverage for employees
73% Company-paid health coverage for dependents 62% Company-paid health coverage for part-timers
20 hours Weekly hours required for part-timers to receive health insurance $3,665 Average Tuition Reimbursement
$5,250 Maximum Tuition Reimbursement
Quicken Loans team members enjoy unique seating in the company's data center.

WORK-LIFE BALANCE BY THE NUMBERS

20 days Paid time off after one year of full-time employment 12 days Paid time off after one year of part-time employment
20 days Paid sick days after one year of full-time employment 13 days Paid sick days after one year of part-time employment

WORK-LIFE BALANCE PROGRAMS

  • Flexible schedule (45% use it)
  • Telecommute option (22% use it)
  • Job sharing (1% use it)
  • Compressed work weeks (3% use it)
  • Subsidized On- or Off-site Fitness (80% have access)
  • Medical facilities (only at headquarters)
  • Onsite Amenities (Free snacks (including fresh vegetables, calorie and allergy conscious snacks), free coffee including cappuccinos, lunches and breakfasts on a team-by-team basis, yoga, various exercise classes, cooking classes, onsite health screenings, professional development classes, concerts in the downtown Detroit park with local and national acts,)

FAMILY CARE BY THE NUMBERS

60 days Job-protected maternity leave (including FMLA/STD) 40 days Fully-paid maternity leave (does not include personal vacation or paid time off)*
30 days Average length of maternity leave new mothers take60 days Job-protected paternity leave (including FMLA)
10 days Fully-paid paternity leave (does not include personal vacation or paid time off)*9 days Average length of paternity leave new fathers take
$5,000 Adoption benefit80 days Job-protected parental leave for adoptive parents (including FMLA)*
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

  • Lactation room(s)
  • Paid sick leave to care for a child or relative

HEALTH INSURANCE COVERS

  • Mental health care
  • Alternative treatments (such as acupuncture, homeopathy, or chiropractic)
  • Fertility treatments

Community and Environmental Impact

8 hours Paid time off to volunteer $10,000,000 Philanthropic donations in last year
$300,000 Total company-matched employee donations in last year Team Leader, Mojodo Projects Leads environmental impact team
Self-Conducted Environmental impact audit Yes Recycling program

Diversity

  • Director, Diversity & Inclusion is responsible for the success of formal recruiting and retention diversity goals
  • Written policy prohibits discrimination based on (at a minimum) age, disability, race/ethnicity, religious beliefs, gender and sexual orientation
  • Formal programs (such as resource groups, mentorship, networking, or other affinity groups) support professional development for: Under-represented racial/ethnic minority groups; Women
  • Non-birth parents in same-sex relationships can take parental leave
  • Medical care covers gender confirmation surgery

Leadership Diversity

 

Workforce Diversity

 
Team members meet on the stairs of Quicken Loans' newly renovated Cleveland office.

DEMOGRAPHICS

 
Team members can enjoy the beach bar in the park just steps from Quicken Loans' Downtown Detroit headquarters.

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?

Above all, we want to ensure that prospective candidates fit the Quicken Loans culture. Our organization works as a team - everything we do results from a collective effort of every individual within the company. We work together in the office, give back to our communities and make plenty of time for play beyond our daily work.   Three of the top characteristics we look for are enthusiasm, curiosity and collaborative spirit. Enthusiasm shines through in how our team members work every day, as well as how they embrace our culture and ISMs. A curious team member is one who challenges the status quo and constantly strives to innovate. Equally important, collaboration is the foundation of our continued success. Collaboration combines communication, trust and hard work – traits that empower us to create positive relationships with clients, fellow team members and our community, especially as we continue our efforts to rebuild Detroit.

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 those 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 more so on their culture fit. Skills and techniques can be taught, but self-motivation and a positive attitude must already be present. Candidates need wow us with their positive outlook, drive and strong communication 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 five veteran recruiters who are all veterans themselves, focusing a 100 percent of their time on hiring veterans. They understand not only what a transitioning 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.   As a leading FinTech company, we are always focused on bring in new technology talent. With Rocket Mortgage’s 2015 launch and other tech advancements in the mortgage arena, the development never stops and fresh perspectives drive our growth.

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

Nothing shows a candidate’s dedication more than good old research. A candidate who’s armed with knowledge on Quicken Loans history, recent news and our culture, as well as info posted on our press room, careers page and company blog, will immediately grab the attention of our recruiters. To get started with the application process, applicants should submit a resume at www.quickenloanscareers.com. Per our company’s promise to deliver the best possible experience, our recruiters call back EVERY single applicant within 24 hours of hitting “submit.” The potential candidate can then speak to a recruiter if they have questions about the job or our company, jumpstarting a potential career at Quicken Loans!

hiring Outlook

7,560 Forecasted positions to fill in coming year 10% Job Growth
15 Average applicants per opening 122,532 Total job applicants
62% New hires by employee referrals 15% Openings filled by current employees
770 Recent graduates hired 12% Voluntary turnover for full-time employees
21% Voluntary turnover for part-time employees
* All figures refer to 12-month period prior to reporting, unless otherwise noted.

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