LoanDepot Referral Bonus Overview

LoanDepot offers a referral bonus program designed to incentivize current employees to refer qualified candidates for open positions within the company. This program includes roles across various departments, with a special focus on tech and product roles due to their critical importance in driving the company's digital innovation strategy.

Referral Bonus for Tech/Product Roles

• Position Types: Software Engineers, Product Managers, Data Scientists, UX/UI Designers, etc.
• Bonus Amount: Typically ranges from $3,000 to $5,000 per successful referral.
• Payment Structure: The bonus is usually paid in two installments:
  • 50% upon the new hire’s completion of 90 days of employment.
  • The remaining 50% after the new hire has completed six months of employment.

Referral Bonus for Other Roles

• Position Types: Sales, Marketing, Operations, Customer Service, etc.
• Bonus Amount: Generally ranges from $1,000 to $3,000 per successful referral.
• Payment Structure: Similar to tech/product roles, the bonus is divided into two payments:
  • Initial payment after the new hire completes 90 days.
  • Final payment after six months of employment.

Additional Guidelines

• Eligibility: All full-time employees are eligible to participate in the referral program.
• Exclusions: Certain roles such as executive positions or internships may not be eligible for referral bonuses.
• Referral Process: Employees must submit candidate referrals through the company’s internal referral portal before the candidate applies for the position.
• Limitations: There is typically no cap on the number of referrals an employee can make, but only one bonus per new hire is awarded.

Key Benefits

1. Empowerment: Encourages employees to engage with their professional network to bring in talented individuals.
2. Engagement: Fosters a culture of collaboration and participation within the organization. 3