Charles Schwab Reviews

Updated August 1, 2015
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Charles Schwab President and Chief Executive Officer Walt Bettinger II
Walt Bettinger II
21 Ratings

Pros
  • Great work-life balance (almost too good--the work suffers because management is so supportive of people's "issues") (in 80 reviews)

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

Cons
  • It is a Call Center environment (in 45 reviews)

  • Over the last couple of years, communication from senior management has been limited (in 25 reviews)

More Pros and Cons

40 Employee Reviews

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  1. Helpful (1)

    Long time there

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Phoenix, AZ
    Former Employee - Anonymous Employee in Phoenix, AZ
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    The company management was great. The charity portion of the company is awesome. The work was great.

    Cons

    The management changed within the call center changed and that brought on a whole new dynamic that was toxic and un-productive to you unless you were on the inside of the decision making process.


  2. NSD

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Remote Systems Administrative in Chandler, AZ
    Former Contractor - Remote Systems Administrative in Chandler, AZ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Charles Schwab as a contractor (More than a year)

    Pros

    Great work environment, friendly co-workers

    Cons

    Favoritism for the full time employees over contract staff.

    Advice to Management

    Treat your contract workers like they are family and do not exclude them from the rest of the team.


  3. Helpful (1)

    relationship specialist

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Relationship Specialist in Phoenix, AZ
    Former Employee - Relationship Specialist in Phoenix, AZ
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I worked at Charles Schwab (More than 8 years)

    Pros

    educating, friendly people, competitive, flexibility with a great location

    Cons

    pay, health benefits, boring, and only care about upper management


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (1)

    Advisor Services

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Relationship Specialist in Phoenix, AZ
    Former Employee - Relationship Specialist in Phoenix, AZ
    Neutral Outlook
    No opinion of CEO

    I worked at Charles Schwab full-time

    Pros

    A lot to learn, friendly people, cafe. Great location. 401k match is competitive. Pay for your licensing.

    Cons

    Very profitable company but does nothing to reward their employees. 2% raise per year is not acceptable. This only brings discouragement to the work environment

    Advice to Management

    Share the wealth! When people feel appreciated they want and will do more than expected. They succeed and stay.


  6. Helpful (8)

    Managed out

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Staff Technology Solutions in Phoenix, AZ
    Former Employee - Senior Staff Technology Solutions in Phoenix, AZ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    The the people at the peer level and not management level were great lots of talent,.

    Cons

    Over 50 so got managed out.


  7. Helpful (2)

    A lot to learn and absorb in a short period of time

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate Financial Consultant in Phoenix, AZ
    Former Employee - Associate Financial Consultant in Phoenix, AZ
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at Charles Schwab (More than a year)

    Pros

    Nice culture with genuine values to do the right thing and embrace integrity on all levels

    Cons

    Too many complex resources to learn in a limited time. Managers need to engage on a much more active level instead of from behind a wall

    Advice to Management

    Make sure expectations on both sides match and cut out the excessive micromanaging.


  8. Helpful (1)

    Operations Specialist

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Institutional Advisor Services Specialist in Scottsdale, AZ
    Current Employee - Institutional Advisor Services Specialist in Scottsdale, AZ
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    The People are the best reason to be there

    Cons

    Poor Training on current regulatory issues


  9. Helpful (9)

    Great Client Focus, but handcuffed by the worst that "Human Resources" can dream up

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Client-facing Financial Services Representative in Phoenix, AZ
    Current Employee - Client-facing Financial Services Representative in Phoenix, AZ
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Charles Schwab full-time (More than 10 years)

    Pros

    A completely ethical, client-focused business practice geared toward providing unbiased financial help & advice to its clients. Clients compliment us for our openness and honesty, which helps with the feelings of job satisfaction. Health Plan was among the best until Obamacare forced the company to stop offering a "Cadillac Plan", but still provides good access to health care. Decent pay for a competent client phone services person. Four-week sabbatical every 5 years for employees is also an excellent benefit.

    Cons

    The company has gone way overboard with minutia thanks to "Human Resources" policy changes during past 10 or so years. One example is how they've crafted a mechanism by which they find ways to avoid paying bonuses to employees. It used to be that the company paid out a full bonus quarterly, depending upon the company's performance for the preceding business quarter. All employees were able to participate, and in a particularly good quarter, everybody felt a genuine feeling of achievement & reward for a job well done, which went light years towards fostering an environment that helped keep employee morale high. With the change fostered by the HR geniuses, the first three quarterly bonuses in the year are now considerably smaller amounts known as an "advance"; the fourth, paid out during the first quarter of the following year, is now a rigidly calculated, employee-performance-based amount, which the average front-line employee may or may not receive, depending upon whether you're in good graces with your immediate manager. The emphasis of whether employees fully participate in a corporate bonus plan has shifted from the company's performance to that of the individual employee. What used to be a fairly quick, efficient and concise quarterly review process when bonuses were disclosed has evolved into a minutia-laden process that now requires a 16-page document to explain why you might or might not get an annual bonus. The longer that document gets, the smaller your annual bonus is likely to be. And get this - if you leave the company prior to that annual "bonus" calculation, you get nothing, in spite of the effort you put in during the previous 12 months. The changes in the bonus plan payout implemented by HR have been front-loaded in favor the company at the expense of employees. So it should come as no surprise that, thanks to the implementation of Obamacare. employees who used to benefit from an outstanding health care plan - most able to enjoy the convenience of small co-pay instead of much larger co-insurance costs - now face a much larger portion of those costs. To its credit, the company has contributed up to $1000 annually to Health Savings Accounts for employees; whether that contribution continues remains to be seen. But in describing the changes to the company's Health Plan, one of the company's HR higher-ups mentioned that some employees may have "cash flow problems" as a result of the changes. Obviously, a guy with a 6-figure income has a different definition of what constitutes a "Cash Flow Problem" than the average front-line employee. And don't get me started on the invasion of our privacy in the world of e-mail, IM, and even outside social media use. Forget about passing jokes along to co-workers, unless you like putting your bonus, or even your job, at risk. HR-implemented policies in this regard will help keep employee morale in right in the toilet. Apparently, a sense of humor is not welcome in this type of HR-focused world. I'm baffled by a recent trend to hire managers for jobs in which they have no experience nor expertise. It gives off an appearance that higher-ups view managers as interchangeable pegs which they are then able to place in a variety of holes, whether appropriate or not. I see no benefit to employee morale from this type of policy. The team cohesiveness which once existed between team members and their manager - largely because the manager knew and understood every facet of the job faced by the front-line employee - is an important bond which helps keep an esprit de corps among the troops and has gone missing.

    Advice to Management

    Listen to your front-line employees. They're the ones who actually communicate with your client base, and they're very adept at telling us what they like about what we offer. If you consider how much customers liked discounted commissions, access to a wide range of no-fee mutual funds, and expanded access to these services via our Internet platform as the years rolled by, try to remember that they came to us because they liked what we offered them. They didn't come to us because we told them to like it - such as the disastrous implementation of a multiple-tiered, multiple fee-based account option forced upon clients back in 2004, which then expended employee capital in a lame defense of these poor policies (which wisely - and thankfully - were discontinued).


  10. Good pay and good job.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Quality Assurance in Phoenix, AZ
    Former Employee - Quality Assurance in Phoenix, AZ
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    Great experience, company will invest in you, learn everyday, pay is stable.

    Cons

    Traditional corporate job, work in a cube in call center environment. Took bonuses away and laid off workers when profits lesson.

    Advice to Management

    Be more transparent.


  11. Helpful (1)

    Educational

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Registered Representative in Phoenix, AZ
    Current Employee - Registered Representative in Phoenix, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Charles Schwab full-time (More than a year)

    Pros

    Job responsibilities clearly defined, great training

    Cons

    Few advancement opportunities and increased responsibilities and expectations without added compensation.

    Advice to Management

    More opportunity for advancement and care for employees



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