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Rate Claimed Company
Rate was built on the principles of low rates, groundbreaking technology, complete transparency, excellent customer service and a quick, easy mortgage experience. We knew that to achieve the mission of being the best mortgage company for customers, we also needed to be the best mortgage company for employees and referral partners. We achieved that by innovating superior systems and technology to make the mortgage process easier and more transparent for everyone, and by creating a culture of positivity in which people have the opportunities to improve their lives and achieve their dreams. read more
Rate Company Culture
Rate Culture
This score is derived from employee ratings & reviews3.3/5
Rate's Overall Culture is rated C
Top Rated Culture Dimensions
Environment
B+Manager
B+Office Culture
B+Professional Development
BExecutive Team
C+Rate CEO
Bottom 30%Bottom 30% of Similar Size Companies on Comparably
Victor Ciardelli
61 /100
See More
Diversity at Rate
Bottom 45%Bottom 45% of Similar Size Companies on Comparably
C
Diverse employees at Rate have rated Manager, CEO Rating, and Outlook as the highest categories they have scored
Women at Rate
Top 50%Top 50% of Similar Size Companies on Comparably
C+
Women at Rate have rated Team, Outlook, and Work Culture as the highest categories they have scored
Rate eNPS
Net Promoter Score tracks your employees' overall score to this question: "On a scale from 0-10, how likely are you to recommend working at your company to a friend?"Top 50%Top 50% of Similar Size Companies on Comparably
Recommend to a Friend?
-9
Rate employees are -9% more likely to recommend Rate as a great place to work
| 40% | Promoters |
|---|---|
| 11% | Passives |
| 49% | Detractors |
Working at Rate
Working at Rate is rated below average by 126 employees, across various culture dimensions. Rate employees rate Environment highest among all categories, and think that Perks And Benefits and Compensation have the most room for improvement, putting Rate’s culture in the Bottom 45% compared to similar sized companies on Comparably and in the Bottom 45% compared to other companies in Chicago. See below in detail how working at Rate was rated by employees.
Overall Company Culture at Rate
C
Overall Company Culture at Rate is rated C
Last updated months ago
Bottom
45%
Rate ranks in the Bottom 45% of other companies on Comparably with 1,001-5,000 Employees for Overall Company Culture Score
Rate Employee Reviews
Out of 106 Rate employee reviews, 72% were positive. The remaining 28% were constructive reviews with the goal of helping Rate improve their work culture.
| Positive Reviews | 72% |
|---|---|
| Constructive Feedback | 28% |
Positive Reviews From Rate Employees
- What is most positive about the culture and environment at your company?Apparently if you’re in the clique it’s fun. If not, not so
- What did you like most about the interview process?Good questions and quick turnaround
- What makes you most happy at work?I enjoy my line of work and engaging with my Team and colleagues. We work very well together and can rely on each other.
Constructive Feedback From Rate Employees
- What do your coworkers need to improve and how could you work together better?Coworkers great, management full of themselves
- Why do you feel undervalued and what would make you feel better about your compensation?I feel valued as an employee, but the current benefits contribution is under market and I would like to see that improve.
- What does the leadership team need to get better at?They need to care! The top is disconnected from the crew
Rate Company Information
Rate Company Overview
Rate was built on the principles of low rates, groundbreaking technology, complete transparency, excellent customer service and a quick, easy mortgage experience. We knew that to achieve the mission of being the best mortgage company for customers, we also needed to be the best mortgage company for employees and referral partners. We achieved that by innovating superior systems and technology to make the mortgage process easier and more transparent for everyone, and by creating a culture of positivity in which people have the opportunities to improve their lives and achieve their dreams.
Rate Mission, Vision & Values
Rate Mission Statement
The Guaranteed Rate Foundation was established with one simple objective in mind: Impact the lives of our employees, our partners and their families and communities in times of need, in meaningful and positive ways.
Rate Vision Statement
When we began our journey 24 years ago, we were on a mission to deliver more value to customers than any other bank or mortgage company. Rate was built on the principles of low rates, groundbreaking technology, complete transparency, excellent customer service and a quick, easy mortgage experience. We knew that to achieve the mission of being the best mortgage company for customers, we also needed to be the best mortgage company for employees and referral partners. We achieved that by innovating superior systems and technology to make the mortgage process easier and more transparent for everyone, and by creating a culture of positivity in which people have the opportunities to improve their lives and achieve their dreams.
Rate Values
- We grow for good
- We put the customer first
- We work with the best of the best
- We think big
- We have grit
- We have an owner’s mentality
- We take decisive action
- We demand excellence
- We hold ourselves and others accountable
- We give a sh!t
Sustainability and Corporate Social Responsibility at Rate
Our Foundation - Grow for Good in action:
Our first core value is “Grow for Good” simply means that the more we grow the more good we can do in the world. One of the ways we do that is through our Foundation, where Rate covers all administrative costs so 100% of every dollar we receive helps the people we serve. Rate Foundation has donated over $6 million since the start of the Foundation began.
Our approach:
It’s our goal to offer hope to those in crisis—an opportunity to stop, take a breath and begin healing. We welcome applications directly from those in need, as well as from organizations or individuals who wish to nominate applicants. After reviewing applications, our committee grants funds with careful consideration of our ultimate goal: to provide a lasting impact on the lives of our recipients.
Visit here for more information: https://www.rate.com/about-us/gr-foundation
| Headquarter | 3940 N Ravenswood Ave Chicago, IL 60613 United States of America |
|---|---|
| Website | www.rate.com/ |
| Founding Date | 2014 |
| Tel | (408) 508-5607 |
| Company Status | Private |
| Jobs | www.rate.com/careers |
| Social Sites |
Rate Competitors
Rate competitors include Kiavi (formerly LendingHome) and STARWOOD PROPERTY TRUST. Rate ranks 3rd in Overall Culture Score on Comparably vs its competitors. See below how Rate compares to its competitors with CEO Rankings, Product & Services, NPS, Pricing, Customer Services, Overall Culture Score, eNPS, Gender and Diversity Scores.
President's Club trip 2024
About Us
Financial education in Spanish
Day in the life of a Regional Manager at Rate
Rate App launch
Rate Employees
126 employees at Rate have reviewed Rate across various culture dimensions, providing their opinions on items ranging from executive ratings to the pace at work. The latest review was months ago.
Overall, the 126 Rate employees give their leadership a grade of C+, or Top 50% of similar size companies on Comparably. This includes specific ratings of their executive team, CEO, and manager.
Employees at Rate are mostly dissatisfied with their total compensation at Rate, which includes a combination of pay, stock and equity, and benefits.
Overall, employees at Rate are generally satisfied with their team. 126 Participants grade the quality of their coworkers a C. The majority believe the meetings at Rate are effective, and the majority look forward to interacting with their coworkers.
The majority of employees at Rate believe the environment at Rate is positive. Most Participants believe the pace of work at Rate is extremely fast. About 67% of the employees at Rate work 8 hours or less, while 4% of them have an extremely long day - longer than twelve hours.
Overall, the employees at Rate are not very happy, based on their aggregated ratings of future outlook, customer perception, and their excitement going to work.
A Day in the Life
A Day in the Life
Rate employees generally work 8.8 hrs a day
Work Hours
A Day in the Life
Employees at Rate report the work pace is extremely fast
Work Pace
A Day in the Life
67% of Rate employees look forward to interacting with their team every day
Coworkers
A Day in the Life
Rate employees most often take 20-30 paid vacation and sick days each year
Perks & Benefits
A Day in the Life
100% of Rate employees report they are happy with their work life balance
Work Life Balance
A Day in the Life
Rate employees typically get valuable feedback on how to improve at work Every Week
Feedback
A Day in the Life
67% of Rate employees call their work environment positive
Environment
Joining Rate - Employee Onboarding
The prevailing opinion from employees about joining Rate is that the company was somewhat prepared on their first day. Rate employees concluded that their overall onboarding experience was positive. 67% said their direct manager was helpful with their acclimation during the first 90 days. First impressions are important, and how prepared a company is on your first day leaves a lasting impression.
Rate KPIs and OKRs
At Rate 33% of employees think their department KPIs and OKRs are clear. Employees’ understanding of Rate's KPIs and OKRs is essential for its success. Out of 5 Rate employees who’ve answered, “Are your company’s goals clear and are you invested in them?” 4 have said yes.
Are your company's goals clear, and are you invested in them?
Are the KPIs/OKRs for your department clear?
Rate CEO & Leadership
Rate CEO - Victor Ciardelli
61 /100
Victor’s approval rate is lower compared to CEOs at similar sized companies, putting Victor in the Bottom 30% of all CEOs of similar-sized companies on Comparably, and in the Bottom 30% compared to CEOs of all other companies in Chicago. Victor Ciardelli’s employees rank Rate in the Top 20% for Environment, in the Top 20% for Manager, and in the Top 20% for Office Culture. Ciardelli is generally unpopular with Rate employees, but ranks especially low with employees in the Operations department, and by employees with 1 to 3 Years experience and employees in the Engineering department. However, employees with Over 10 Years experience have a slightly more favorable view of the CEO. When compared to Rate’s competitors, Victor Ciardelli ranks below both Kiavi (formerly LendingHome) CEO Michael Bourque and STARWOOD PROPERTY TRUST CEO Barry Sternlicht.
Rate Leadership
The Rate Executive Team is rated a “C+” and led by CEO Victor Ciardelli, VP of Mortgage Lending Susan Azzarello, and VP of Mortgage Lending Sage Riegel
Victor Ciardelli CEO / President
Victor Ciardelli serves as the CEO / President of Rate.
Susan Azzarello VP of Mortgage Lending
Susan Azzarello serves as the VP of Mortgage Lending for Guaranteed Rate Inc. Susan started at Guaranteed Rate Inc in... read more
Sage Riegel VP of Mortgage Lending
Sage Riegel serves as the VP of Mortgage Lending for Guaranteed Rate Inc. Sage started at Guaranteed Rate Inc in August... read more
David Bolton VP of Mortgage Lending
David Bolton serves as the VP of Mortgage Lending for Guaranteed Rate Inc. David started at Guaranteed Rate Inc in... read more
Josh Thompson VP of Mortgage Lending
Josh Thompson serves as the VP of Mortgage Lending for Guaranteed Rate Inc. Josh started at Guaranteed Rate Inc in... read more
Phillip Cannon VP of Mortgage Lending
Phillip Cannon serves as the VP of Mortgage Lending for Guaranteed Rate Inc. Phillip started at Guaranteed Rate Inc in... read more
Gavin Gossett VP of Mortgage Lending
Gavin Gossett serves as the VP of Mortgage Lending for Guaranteed Rate Inc. Gavin started at Guaranteed Rate Inc in... read more
Patti Lamle VP Of Mortgage Lending
Patti Lamle serves as the VP Of Mortgage Lending for Guaranteed Rate Inc. Patti started at Guaranteed Rate Inc in May of... read more
Rate Salaries
How much does Rate pay?
How much do people at Rate get paid? See the latest salaries by department and job title. The average estimated annual salary, including base and bonus, at Rate is $99,476, or $47 per hour, while the estimated median salary is $111,685, or $53 per hour.
At Rate, the highest paid job is a Corporate Counsel at $188,813 annually and the lowest is a CS Rep at $45,016 annually. Average Rate salaries by department include: Business Development at $89,263, Legal at $135,774, Customer Support at $60,594, and Finance at $72,566. Half of Rate salaries are above $111,685.
63 employees at Rate rank their Compensation in the Bottom 25% of similar sized companies in the US (based on 206 ratings) while 61 employees at Rate rank their Perks And Benefits in the Bottom 20% of similar sized companies in the US (based on 67 ratings).
Salaries contributed from Rate employees include job titles like DevOps, Scrum Master, Senior UI/UX Designer, and Business Analyst. Comparably data has a total of 5 salary records from Rate employees.
Last updated months ago.
| Summary | Salary Range | Percentile |
|---|---|---|
1st Percentile $67k | $67k | 1st Percentile |
17th Percentile $87k | $87k | 17th Percentile |
33rd Percentile $112k | $112k | 33rd Percentile |
50th Percentile $168k | $168k | 50th Percentile |
67th Percentile $223k | $223k | 67th Percentile |
83rd Percentile $281k | $281k | 83rd Percentile |
100th Percentile $282k | $282k | 100th Percentile |
$99,476*
Average Compensation
$111,685*
Median Compensation
* Estimated salaries Estimated salaries are based on data provided anonymously by employees and/or estimated by other statistical methods.
Rate Salaries by City
Rate Salaries by Department
Diversity & Inclusion at Rate
Diverse employees at Rate score the company 66/100 across various culture categories, placing Rate in the Bottom 45% of companies on Comparably with 1,001-5,000 Employees for Comparably's diversity score. The Diversity score provides insights into how diverse employees feel and rate their work experience at Rate across various culture dimensions.
We’re changing the mortgage business for good - We’re a little different. We are a company with a soul, a team of individuals connected by a camaraderie unique in the business. The very core of who we are is to make a positive impact on the lives of every person we touch. We have a grow-for-good metric that measures the impact we have on our customers, referral partners, GR family and the communities we serve. We are committed to making a difference and have established these Employee Resource Groups to further our efforts to cultivate a culture of inclusion at Rate.,,https://www.rate.com/about-us/diversity,,GROW - Rate Organization of Women is a community of mortgage professionals at Rate dedicated to supporting each other and encouraging leadership among women.,,LEAD - Our mission is to transform the mortgage industry by building future minority LEADers through recruiting, outreach, and training initiatives.,,PROUD - Our mission is to create a workplace in the mortgage industry that believes in everyone for who they are, wants them to succeed because of their talents and abilities, and makes them feel safe, welcome, and PROUD!
Ranked Culture the Highest
Ranked Culture the Lowest
Rate Perks & Benefits
Health & Wellness
- Dental Insurance
- Vision Insurance
- Health Insurance
- Life Insurance
Paid Time Off
- PTO / Vacation Policy
- Paid Holidays
- Maternity / Paternity Leave
Financial Benefits
- 401K / Retirement Plan
- Employee Stock Purchase Plan
Office Perks
- Company Social Outings
- Legal Assistance
- Work From Home Policy
- Unique Office Space
Rate PTO
Rate's PTO and Vacation policy typically gives 20-30 days off a year with 50% of employees expected to be work free while out of office. Paid Time Off is Rate's most important benefit besides Healthcare when ranked by employees, with 100% of employees saying it is the most important benefit. Rate's benefits and PTO Package averages to represent a $1000 -$1500 cash value per month.
Other than healthcare, which of the following benefits is most important to you?
Does your boss expect you to work when you're on vacation?
What do you estimate the cash value of your benefits to be? Healthcare, PTO, etc?
Rate Careers
Rate Jobs
No Recent Jobs found for Rate on Comparably
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Overview of Candidates Interested in Rate on Comparably
Candidates By Department
All Industries | 45% | |
|---|---|---|
Engineering | 20% | |
Marketing | 10% | |
Finance | 10% | |
Communications | 5% | |
Other | 10% |
Candidates By Location
Chicago | 55% | |
|---|---|---|
Mokena | 5% | |
Buffalo | 5% | |
Evanston | 5% | |
Lombard | 5% | |
Other | 25% |
Frequently Asked Questions regarding Rate
What is Rate address?
Rate location is at 3940 N Ravenswood Ave
Who is the CEO of Rate?
Rate CEO is Victor Ciardelli, their score by employees is 61
What is Rate eNPS?
The eNPS for Rate is -9
What is the salary for IT Manager in Rate?
IT Manager average salary in the US is 137k
What are the salaries in the Sales in Rate?
The average salaries for Sales in Rate is 211k
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