Tower Loan reviews

3.5

63% would recommend to a friend

(451 total reviews)

Francis C. Lee

61% approve of CEO

61% positive business outlook

Tower Loan has an employee rating of 3.5 out of 5 stars, based on 451 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

451 reviews
2.0
Nov 15, 2012

Not a job for everyone

Recommend
CEO approval
Business Outlook

Pros

They offer a decent salary, once you are promoted to manager. Bonuses received as a manger can be pretty good.

Cons

Their focus is to make a profit by preying on low income, bad credit individuals. You have to collect loans door to door.

1.0
Oct 30, 2012

Former employee

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Well, I guess it is a job. If your back is against the wall go ahead and apply. But I'd look elsewhere.

Cons

First off, it's obvious that these "reviews" were written by upper management to boost their rating on here. I was a Trainee at a branch with a bad manager with very high delinquency. This makes for a borderline impossible training environment. I wasn't reimbursed for mileage most of the time after going 300 miles or more nearly every week chasing clients. Employees are threatened in the store and in the field by disgruntled customers. I was told to expect to work 42 or 43 hours a week. That never happened unless there was a holiday. Upper management tries to use scare tactics on their workers. And don't get me started on the solicit policies. They encourage loans that they know the customers won't be able to pay back.

2.0
Jul 18, 2012
Recommend
CEO approval
Business Outlook

Pros

You can earn your mortgage license as well as gaining sales, insurance, and loan experience. You will also earn call center experience.

Cons

Where to begin? The pay that they show you on paper is nothing compared to what you will get. You will not be able to keep this paper because they know that it is evidence that can be sent to federal labor agencies. The actual pay is about $450 a week after taxes. You will work almost 50 hours a week every single week. After the forty hours a week, then you will be paid for every two hours worked rather than time and a half like a normal job. No way to just work 40 hours a week. If you must work here then choose a very small store. Hardly ever any weekends off. No life at all.The management is the major issue however. If you have a good manager then I would advise you to stay with the company for no longer than six months. When you get that license run run run. They have nothing more to offer you after that. What you learn in that amount of time should be enough to get a good job somewhere else. If you have a bad manager, then you will be belittled and they will make the work environment impossible. The bad manager frowns on having to actually train you and will be annoyed when questions are asked. They may put you in dangerous situations that can cost you your safety but they are not worried because it is not them. You may get cursed by the customers but as long as you are kind then it will not happen alot.

Viewing 439 - 441 of 451 Reviews

Glassdoor has 455 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.