Charles Schwab

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  www.schwab.com

Charles Schwab Reviews in Arizona

Updated August 6, 2014
Updated August 6, 2014
900 Reviews
3.1
900 Reviews
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Charles Schwab President and Chief Executive Officer Walt Bettinger II
Walt Bettinger II
536 Ratings

Review Highlights

Pros
  • It does allow for a good work/life balance which was very important to me (in 80 reviews)

  • good benefits especially Sabbath every five years (in 59 reviews)


Cons
  • Not much room for growth in Indy unless you want to stay in a call center (in 45 reviews)

  • There are very few woman and people of color in middle and senior management (in 25 reviews)

More Highlights

15 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1. 3 people found this helpful  

    Call Center Sweat Shop

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Registered Representative in Phoenix, AZ
    Former Employee - Registered Representative in Phoenix, AZ

    I worked at Charles Schwab full-time (more than 3 years)

    Pros

    they pay you money, under cover parking, they have benefits (but their not good), you learn a lot of what not to do when it comes to investing, colleagues are nice.

    Cons

    you take call after call after call of abuse from customers, you see a lot of upper management moving around but not the people that actually work hard taking calls from clients.

    Advice to ManagementAdvice

    promote from within, they are your loyal employee. stop promoting from competitors.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2. 3 people found this helpful  

    Poor employer to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Manager in Phoenix, AZ
    Current Employee - Senior Manager in Phoenix, AZ

    I have been working at Charles Schwab full-time (less than an year)

    Pros

    good salary and benefits, covered parking

    Cons

    Awful work culture, no work life balance.

  3. 3 people found this helpful  

    Sweatshop environment, poor management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Registered Representative in Phoenix, AZ
    Current Employee - Registered Representative in Phoenix, AZ

    I have been working at Charles Schwab full-time (more than 3 years)

    Pros

    Sabbatical after 5 years, talented co-workers

    Cons

    Strict call center environment where you are controlled by stats. Management has no backbone, they don't stand up or help their staff. Low pay, tiny raises, no career growth. Employees are expected to be company cheerleaders despite negative environment. Inflexible schedules that can change at the whim of management.

    Advice to ManagementAdvice

    Be fair across the board. Use positive reinforcement instead of belittling and treating employees like indentured servants. Anonomous surveys are not truly anonomous (you really shouldn't be peeking, but we all know you do!). Accept constructive criticism.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5. 6 people found this helpful  

    Not the same company, now cookie cutter just like rest of the call center financial firms in Phoenix.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Phoenix, AZ
    Former Employee - Anonymous Employee in Phoenix, AZ

    I worked at Charles Schwab full-time (more than 10 years)

    Pros

    Their insatiable appetite to make decisions based on the bottom line and low level managers being low level across the board forced me to find myself and find a much better way.

    Cons

    Too many to list if you have a soul. Any time spent here will certainly compromise anything positive that you believe in.

    Advice to ManagementAdvice

    Get a clue....bunch of clowns....people are not stupid or stuck. Leveraging poor job market scare tactics to have their way and think they can make all the rules. Stop hiring people to post all the positive comments on Glassdoor. I've been on the inside, I know the truth....it's a joke but only funny in hindsight. Very sad for the many people that I know still there.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6. 3 people found this helpful  

    Cell center sweat shop

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Broker in Phoenix, AZ
    Former Employee - Broker in Phoenix, AZ

    I worked at Charles Schwab full-time (more than 3 years)

    Pros

    the building is clean and has good location in phoenix

    Cons

    too many things to list, too much negativity that this post would get deleted, don't even bother. No loyalty to loyal employees.

    Advice to ManagementAdvice

    you guys are going to be screwed in 10-15 years but by then you'll be gone so who cares.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 2 people found this helpful  

    Bullying in Corp America

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Bus Ops in Phoenix, AZ
    Current Employee - Bus Ops in Phoenix, AZ

    I have been working at Charles Schwab full-time (more than 8 years)

    Pros

    You get paid to get abused

    Cons

    You get micro-management not only on a daily basis but every hour on the hour, talk about favoritism, you could be gone for 6 weeks or longer and get a nice bonus for not doing your work as others did it for you. Middle management is only there to look out for them selves and not you. Currently you see a lot of headlines about Paula Dean, well what goes on inside of Schwab is far worse then that. I know first hand and have witnessed managers intentionally disrespect other religions like Muslims, Jewish as well as atheist and what is sad HR direct does nothing to protect these people they only protect managers.

    Advice to ManagementAdvice

    mid managers must go too many bigots

  8. 4 people found this helpful  

    Call Center Sweat Shop

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Registered Representative in Phoenix, AZ
    Former Employee - Registered Representative in Phoenix, AZ

    I worked at Charles Schwab full-time (more than 3 years)

    Pros

    They pay you money, have benefits (but they've gotten worse and more complex), peers are generally good people, phoenix is a 24 hour center has many different time slots you can work, good back office processing (they rarely make mistakes).

    Cons

    Non stop taking call after call after call after call for 8 - 10 hours depending on your shift, on average about 80 inbound calls ranging from about 50,000 topics that clients expect you to be an expert at, yet you're just entry-level. Clients are unpredictable, annoying, and ridiculous, 99.99% of the time clients are wrong (thats why they are calling because they don't know what they're doing). You're basically a human punching bag for them to verbally assault you over the phone even though clients are wrong. Lots of managers don't know what they are doing, they don't know much about the market, options, and margins, they got to where they are by sucking up a lot.

    Advice to ManagementAdvice

    Combine some operations tasks with brokers. Nobody likes being stuck on the phone for 10 hours. Make a couple hours available for people to process paperwork. This will give them a better understanding of how forms and applications are processed and keep people happy at work instead of miserable and complaining. Give your own personal Schwab systems test to candidates who are trying to become managers because some managers don't know anything about options and margins and those departments are closed after 5.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  9. 4 people found this helpful  

    Last one out, turn off the lights

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Specialist in Phoenix, AZ
    Current Employee - Senior Specialist in Phoenix, AZ

    I have been working at Charles Schwab full-time (more than 8 years)

    Pros

    Co-workers are great.... and well... co-workers are great. Schwab used to be a great place to work, however, the environment has certainly changed.

    Cons

    Pay is embarassing.
    Upper management is completely disconnected.
    The bulk of middle management are in the business of collecting checks, as opposed to working
    Human resources has no clue what skills are needed for financial services.. I honestly question where they find these people.

    Advice to ManagementAdvice

    Start from scratch. The entire E-board has run this company straight into the ground.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 2 people found this helpful  

    Horrible Managers and Outdated Pay Grade

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Phoenix, AZ
    Former Employee - Anonymous Employee in Phoenix, AZ

    I worked at Charles Schwab full-time (more than 3 years)

    Pros

    The benefits at Schwab are decent and I worked alongside some very qualified colleagues who worked hard and knowledgeable about the industry.

    Cons

    The Management there is absolutely awful. The Manager I had in particular seemed to enjoy pitting team members against each other and causing drama within the Department. For the amount of work that we did along with overseeing billions of dollars in assets, the pay was pretty pathetic with little to no chance for moving up within the company.

    Advice to ManagementAdvice

    The pay grade is very outdated and needs to be addressed. Morale was so low when I left that every one of my colleagues was looking to leave. The technology is extremely outdated and instead of using money to update it, the company seems to just pour more money into the old technology.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11. 6 people found this helpful  

    If you're not ready to settle for less, keep your resume handy.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Manager in Phoenix, AZ
    Current Employee - Manager in Phoenix, AZ

    I have been working at Charles Schwab

    Pros

    - Good work life balance (you can almost get away with doing nothing)
    - Good benefits
    - Usually friendly people

    Cons

    - Compensation/Incentives package highly prohibitive (if you are towards the bottom of the pay range, you'll never catch your peers towards the upper end of the spectrum, regardless of how hard you work. The program favors the company.)
    - Promotions into management nearly impossible unless you are one of the chosen few. Career paths have been defined and leadership development programs exist, but don't lead to growth opportunities.
    - Middle management filled with yes men, don't expect your boss to set up to bat for you.
    - Absence of mentoring and guidance to help individuals develop their skills and prepare for the next step of their career. Classes offered by Schwab's training department, but again don't lead to positive outcomes for employees.
    - Management prescribes to the philosophy that engaged and happy employees will work for lower pay because of high job satisfaction. They forget a large number of employees are supporting families on less than $50K a year, which is pretty tough - I guess money isn't everything but it is pretty important when you practically live paycheck to paycheck.
    - Not a growth company, resulting in limited growth opportunities and directions to move your career.
    - Hiring managers are often unresponsive to internal applicant's request for informational interviews.
    - Knowledge, skill, and abilities, get you nowhere; to be successful you need to communicate with force, confidence, and the assumption you are right (it is more important to be right than to do the right thing).
    - Schwab is a classic bureaucracy, very conservative and risk averse.
    - Recognition and appreciation are trivial and on the verge of insulting, unless you are in second grade.

    Advice to ManagementAdvice

    Schwab is a great company and does fantastic things for its clients, but middle management does not adequately represent the front lines to senior leadership which is creating a unfavorable culture.

    Doesn't Recommend
    Disapproves of CEO

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