Barely any qualified training and no comparison to the big banks
Salaried Mortgage Agent (Ancien employé) – Calgary, AB – 28 juillet 2019
You are salaried with a meagre salary that is nowhere near the 6 figure base salary that is being advertised on this website. You are micro managed as you basically work from the counter which is the same as a bank Teller with the micro-manager next to you listening when you are talking to the client and watching what you are doing. I had the bad luck to be placed with a low performing branch meaning that the manager was over eager to get the numbers in line with the others by force pressuring you. When you call on an existing client to renew, you will notice that the original originating mortgage agent is now gone and that happens over and over again. Just that information should have been a red sign when I started. Well, if the branch is underperforming and there is a high turnover, you do not need to be a genius to figure out what is wrong. The badmouthing of previous staffs who left is also terrible which is a sign of toxic work culture.
They compare themselves again the big banks but the health insurance is way below par and as it is a private company, there is also no Employer Share Purchase Plan and no professional trainers which all decrease the total overall compensation. The training is absolutely non-existent nor are the “solutions” provided by their mortgage products. Their goal is basically a no frill low mortgage rate. Well if you prefer to ride a bicycle instead of a car, that is suited for you.
To any seasoned mortgage brokers and mortgage specialists, this is not the job you are looking for. This is the same work load but at a small fraction of what youplus... were making before. Just phone in and ask the background of those “salaried mortgage agents” and you will know what I am talking about. That job will be suited more for the underpaid CSR, car salesman, bank financial rep who make just above minimum pay or anybody angry at the big banks. Quick positive note is that the average age and tenure is young so it is dynamic and friendly. But then again, when the salary is low, you attract mainly young people who are just starting their career.moins