Tower Loan reviews

3.5

63% 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 3.5 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
2.0
May 5, 2017

The honest truth

Recommend
CEO approval
Business Outlook

Pros

First off let me start by assuring you that tower loan does encourage their employees to come to Glassdoor to write reviews. The reasoning behind that is to push all of the negative reviews to the bottom. Tower has several benefits if you go to the right office or state. Some offices you will make good money. You won't have to put a lot of hours in other than 40-45 a week. Tower offers 401k and insurance benefits to their employees. I enjoyed managing the office itself and other employees. I actually enjoyed this job completely. I also had a excellent supervisor that I still have much respect for. I never experienced my supervisor being to hard on me or my co-workers. He was always fair and very understanding. Towers manager meetings are also a pro.

Cons

There are several cons working at tower loan. Like I said previously, depending on which location you are placed at will determine your experience with this company. Tower wants to pay their managers min salary and reward them by reaching their goals and paying bonus money. Now that could be a pro if you are out in a good office. It is a con if they send you several hours away from your family and pay you the very min salary. I have seen tower give good offices to people that have quit and came back. I've seen tower give poor offices to managers that are extremely hard working and very good at their job. Now this may be because the hard working employee will make better results in that office. But it is still a huge con to under pay the hard worker so he can clean up the mess. The biggest con with tower loan is being relocated. I don't mind relocating for a promotion. The problem is relocating and the company doesn't pay you what you are worth. You take the risk of moving 5+ hours away from your family/friends, and only make a little more than you did as a trainee. You may be relocated to a area that has a higher cost of living, but tower will still pay you the bare min salary no matter how upside down your office will be. Tower also has a huge problem with hiring people in many of their locations. This affects the office goals which will hurt/kill the managers bonus no matter how hard the manager works.

4.0
Aug 20, 2016
Recommend
CEO approval
Business Outlook

Pros

I really enjoyed the people I met through Tower Loan. My fellow MTs were nice, CSRs are great, and my Boss and Supervisor were very easy to get along with. It's a great opportunity as long as you don't want to have a life outside of the office. The starting pay is really good and all in all its a really easy job it's just a lot of repetitive work.

Cons

You have to relocate and if something comes up and you can't they let you go but it's like you quit because you are the one who says you can't relocate. I had gotten my incentive pay the month before and they didn't pay me because I "quit". (I'm still going to look into that, that doesn't seem ethically right to me to earn money and not get it). You also have to work long hours. I worked a full 49 hours every week (minimum for MTs) but my manager stayed longer than me most nights. I felt bad for him and his wife. Also, nothing is ever good enough for the supervisors because the directors are on their tail because they got people on their tail too. We worked our butts off all day only to be told it wasn't good enough at the beginning of the next day. You can get 4 loans one day and be praised for it and the next day not get any or only get one and they would ask why you didn't get more. Also, you have to call the same people (usually) everyday to get them to pay. It gets annoying. Also, we could never get anyone hired at our office because the requirements to work there are a lot but are not ridiculous or anything except the relocating. I think it's a little ridiculous but they literally will not tell you where you're going until they call you to tell you you're relocating. And, depending on where it is, sometimes you have to start at the new place the next day. They just tell you you can be relocated in Illinois Missouri Mississippi Alabama or Louisiana. Also girls can't wear flats to work. They have to have "some kind" of heel. And honestly the only short heeled shoes are ugly.

2.0
Jul 12, 2016
Recommend
CEO approval
Business Outlook

Pros

Okay pay. Coworkers are okay. Benefits are okay.

Cons

this company probably wouldn't function without their CSR's bc honestly they carry the heaviest work load and are paid the least. Management couldn't careless about your personal life as far as family and their needs. I've heard it said that Tower Loan comes first. Managers get annoyed and hang up in your face if you call in bc your kid is sick and needs to go to the doctor. If the manager is being fussed at by the supervisor the manager takes it out on the other employees. Vacation days and sick days are a joke. After working a year you have 13 "bank days" you have to use for sick and vacation days. God forbid you have kids and they get sick and you use all your days on that. Your pretty much not allowed to take off anymore for any reason after those 13 days are up. Then you have to work 5 YEARS to get 1 more bank day. Casual conversation between coworkers aren't really tolerated.. And then they wonder why office morale isn't good. All in all, the pay is pretty decent, more than minimum wage, and the benefits are okay but the general attitude of the majority of the company isn't the best.

Viewing 16 - 18 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.