Quicken Loans Salaries, Bonuses and Benefits.

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What are the average starting salaries, bonuses, benefits and travel requirements like at Quicken Loans?

What do you like best about working at Quicken Loans? Are there any great perks or special treats for employees?

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Bobby in Tempe, Arizona

89 months ago

Pay as of May 2005, which may change is:

24000 base salary and 200$ per closed loan.

loan size doesn't matter, whether 75,000 or 399,000, you get 200 bucks.

You can also get percentage of premium, what you charge over the typical price. Typically people make 200-300 per loan. Some people make 500-1000 per loan but this is a small subset, maybe the top 10 or 5%.

Most people at Quicken earn 50k, only the top 15% or so earn over 6 figures.

You must earn promotions to get into the top 15%, and you have to be there 2 years to get these promotions

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anonQ in Cleveland, Ohio

86 months ago

The pay is dirt. Poverty Level......It is why there is a class action law suit against them by former employees....

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Nokool Aid in Scottsdale, Arizona

83 months ago

1) Your BASE pay/salary is $24,000 and you WILL work 50-70 hours per week, WITHOUT OVERTIME PAY!

2) You will NOT receive any EMPLOYER 401k matching contribution.

3) You will be "forced" to lie to your clients about their DEPOSIT (and other details) or risk losing your job.

4) You will be pressured/intimidated into staying at your desk and working through your LUNCH (i.e. they will even ask you to NOT leave the building).

5) You will be pressured/intimidated into "touching the 8's", meaning be in the office from 8am til 8pm.

6) The average TENURE of your average "Mortgage Banker" (entry level position) is LESS than 18 months, because they can't take the hours/pressure/harrasment/lies, OR because they find a better job.

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