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Best Mortgage Employers

FORTUNE 2009 ranking

January 26, 2009

By MortgageDaily.com staff


Just one mortgage-related company is among the 100 best U.S. employers.

FORTUNE recently released its 100 Best Companies to Work For 2009.

No. 1 on the full list was NetApp, a provider of data storage hardware. The Sunnyvale, Calif.-based company, which has more than 5,000 U.S. employees, pays an average salary of $134,716 to its technical staff members and $88,525 to its executive assistants.

"Employee enthusiasm for the legendary egalitarian culture helped catapult NetApp to No. 1 after six years on our list," FORTUNE said. "Rather than business plans, many units write 'future histories,' imagining where their business will be a year or two out."

The rankings were determined by a survey of more than 81,000 employees from 353 companies that are at least seven years old with a minimum of 1,000 employees. Participants responded to a 57-question survey created by the Great Place to Work Institute.

Survey results accounted for two-thirds of a company's score, while the rest of the score was based on factors that included demographics, pay and benefits.

The only mortgage-related firm to make the 2009 ranking was Quicken loans.

The Livonia, Mich.-based lender, which employs 2,890 people, came in at No. 29. The latest ranking marked the sixth consecutive year on the list, Quicken said in its own announcement.

While job growth was down 41 percent at Quicken -- which is owned by Cleveland Cavaliers majority owner Dan Gilbert -- it had more than 33,000 job applications during the comparison period. Currently, 90 positions are available.

The most common salaried job at Quicken is "mortgage banker," with an average pay of $64,189. "Mortgage loan processor" is the most common hourly position with an average pay of $40,166.

"The industry took a huge hit, but mortgage lender Quicken still offers perks -- like short days once a week -- that many companies in thriving industries don't," the magazine said.

Other perks at Quicken include subsidized gym memberships, compressed workweeks and telecommuting. The company also offers domestic partner benefits for same-sex couples.

The Black Eyed Peas entertained attendees at Quicken's 20th anniversary bash held at the Quicken Loans Arena.

"We've unleashed our team members from the typical corporate bureaucracy that stifles growth and creativity and instead have created an entrepreneurial environment that encourages them to think deep and rewards them for putting their great ideas into action," Gilbert said in the statement. "It is an environment in which people feel empowered to make a difference and to achieve their full potential."

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