Tower Loan reviews

3.4

59% would recommend to a friend

(452 total reviews)

Francis C. Lee

61% approve of CEO

61% positive business outlook

Tower Loan has an employee rating of 3.4 out of 5 stars, based on 452 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Tower Loan employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

452 reviews
1.0
Aug 2, 2017

Manager Trainee/Manager

Recommend
CEO approval
Business Outlook

Pros

Manager trainee pay is great for someone with a high school diploma. The manager meetings, manager trainee meetings, and customer service rep. meetings are a great experience. Tower offers benefits such as 401K, insurance plans, and paid vacations.

Cons

Long hours! You will never work the hours that the office is technically open. During my training period I never left before 7:00pm. I was also required to work every Saturday. Quite frankly, Tower makes employees feel "burned out" The work is redundant. Every day you will call the same accounts to collect their debt. You will hear "no" from the same people when you attempt to solicit. Tower is deceitful! A manager trainee in an office close to mine went on maternity leave and was told by the HR representative that she was entitled to her 13 vacation days. When she came back from leave, the HR department informed her they has made a mistake and she was not eligible to use the bank days. The company only cares about numbers. The customers and employees are far down on the list of priorities. I was recently promoted into management at a poor office, and have been threatened with termination multiple times because I didn't "fix it" within 30 days. There is no job security. Tower is a terrible company to work for. Had I known two years ago what I know now, I would have avoided the job altogether despite the fact that I gained experience in a new field. Turnover is high because of the shady business practices. I urge you to avoid this company at all costs.

4.0
Jul 30, 2017
Recommend
CEO approval
Business Outlook

Pros

Everyone from peers to upper management was incredibly friendly, genuine, and care about my development within the company Clear and well explained path for upward-mobility within the company Feedback and training from managers was above and beyond what I could have wanted or expected from a first job right out of college Lunch and dinner with my former manager and regional manger If your branch is well-established and successful, there is additional compensation potential

Cons

Long hours and expectation to work some Saturdays if your branch is underperforming Vacation time not available until a full year of employment Tower Loan is over a decade behind in terms of technology The majority of my duties was working on collections - included calling references and places of employment (knew this was part of the job but was not expecting it to be the vast majority of the work I would be doing) - part of issue going to work at a less-established branch Difficult to provide loans and later try to collect on loans from people with low income along with other issues (a con in many finance positions, not just TL)

1.0
Jul 27, 2017

Co manager

Recommend
CEO approval
Business Outlook

Pros

Managing your own office. Work indoors at desk. Easy job. Manager meetings. Co-workers. Finance experience. Vacation/401k/profit sharing. That's about it.

Cons

Lack of appreciation from superiors. Pay is nothing what you expect when you get to management. They make it sound like good money while training but in reality, it depends which office you are promoted to. Managed for 2 years, moved far away from family, never made much more than 40K including bonuses. Worked 50-54 hours. Basically get paid 16-18 a hour. Pay is not worth moving far from your family.

Viewing 319 - 321 of 452 Reviews

Glassdoor has 456 Tower Loan reviews submitted anonymously by Tower Loan employees. Read employee reviews and ratings on Glassdoor to decide if Tower Loan is right for you.