I've seen so many people getting drops when levelling a faction, but I personally have NEVER received anything. I have IB rank 3 now, reports of people getting Jolders Hammer/Hawkmoon for it, which leads me to think there's a PS3/4 conspiracy.
Answer yes or no and then comment what faction you levelled and what you got! I'm interested to see if it's a common thing or just a case of stumbling upon an influx of minority report cases on the forums.
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When I reached rank 3 with FWC they gave me their heavy machine gun. (Probably the worst legendary in the game tbh) When I reached rank 3 with Vanguard they gave me one of their scout rifles. (At rank 5 I got God Of War shader) I got nothing for rank 3 in Iron Banner, but I'm hoping for something when I reach rank 4. I'm on 360, btw.