Charles Schwab
3.1 of 5 754 reviews
www.aboutschwab.com San Francisco, CA 5000+ Employees

Charles Schwab Reviews

Updated Apr 10, 2014
All Employees Current Employees Only

3.1 754 reviews

                             

60% Approve of the CEO

Charles Schwab President and Chief Executive Officer Walt Bettinger II

Walt Bettinger II

(455 ratings)

54% of employees recommend this company to a friend
85 Employee Reviews Back to all reviews
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  • Disapproves of CEO

8 people found this helpful  

No Integrity, Honesty or Values Left at Charles Schwab - Enter at Your Own Risk

Senior Manager, Information Management Technology (Former Employee)
San Francisco, CA

I worked at Charles Schwab full-time for more than 8 years

Pros401k match, insurance, and training used to be among the best, but no more.

ConsDuring my last few years at Schwab, I witnessed first-hand several incidents within Schwab's Technology group involving racial discrimination and worker intimidation. In particular, our mostly Asian employees’ chances of advancement at Schwab were deliberately minimized, and many of them were harassed into leaving the firm so that their positions could be “offshored” to contractors working in India. This harassment included demotions, artificially-low employee ratings, and forced (and uncompensated) overtime during nights and weekends.

Advice to Senior ManagementEliminate the glass ceiling for Asian-American employees at Schwab, and hire more competent employees to fill Senior Management positions. The "old boy" network is alive and well at Schwab, with a twist. Most of the top management are either white, gay or both, who favor employees who are like themselves. This favoritism is obvious, and part of the hostile environment that many employees at Schwab face on a daily basis.

No, I would not recommend this company to a friend

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1 person found this helpful  

terrible management

Anonymous Employee (Former Employee)
Austin, TX

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

Prosgood salary and some benefits are good

Consno respect from management and signs of descrimination

Advice to Senior ManagementTeach IT Management how to support their people

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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5 people found this helpful  

Boring place to work with TERRIBLE benefits

Finance Manager (Current Employee)
San Francisco, CA

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

ProsCentral downtown location in SF, 9-5 type of job, requires no brain power. If you are looking for the type of job where you climb the ladder through networking, and not merits..then this is your type of job. Management takes a while to fire people so for non-performers this company provides job security. Average tenure is 10 yrs.

ConsTerrible pay and terrible benefits. Company has kept their healthcare costs the same for the past 4 years which means year after year they have been passing these costs down to the employees. If you have a family, kids, and plan to attend the doctor's office, make sure you have savings because Schwab doesn't care.

Advice to Senior ManagementGet rid of all the old stagnant management. Shift focus from reducing expenses to creating value and increasing revenue. Stop giving huge bonuses to senior management while taking benefits from the rest of employees.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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2 people found this helpful  

Intern interview experience.

Anonymous Employee (Current Employee)

I have been working at Charles Schwab

ProsDirect Questions, good mixture of behavioral questions and technical questions

ConsToo long to reply. Managers are least interested and terrible management

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4 people found this helpful  

Lack of management awareness

Customer Service Representative (Former Employee)
Indianapolis, IN

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

ProsGood benefits, solid company and good products. Good reputation in the market. As an employee you can be proud to say you work here, at least to the public.

ConsA boiler room. High volume phone calls, very tiring. Did not find this work rewarding at all. I am not sure what I took away from my 5 years there. Limited career opportunity.

Advice to Senior ManagementNeed management training for first line managers. Good brokers do not make good managers.

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4 people found this helpful  

Used to be employee focused- now it's all about shareholders & management greed

Manager (Current Employee)

I have been working at Charles Schwab full-time for more than 10 years

Prosif you are fresh out of college- come get licensed & move out of Schwab quickly,
if you are twenty something aspiring to manage people- drink the cool aid, latch on to a director and prove you will do anything for the company.

Cons- no respect for long ternured employees with 10-20 years of service
- pay is far below the competitive range in the financial services industry
- pay more for your healthcare while make you less year after year as bonuses and annual merit increases shrink and disappear
- management focused purely on metrics, performance and NOT on the overall well being of employees.
- employees are just cogs in the machine- when it breaks- replace it with a shiny new one
- no career advancement- except for the cool aid drinkers and favorite manager's pets

Advice to Senior Management- come out of your ivory towers and see how "real working folks" support your lifestyle and stock options
- have some empathy & start rewarding and paying CFP professionals better OR once we get a stronger employment cycle- you will see an exodus of talent out of schwab' door compliments of your greed, short sightedness, and lack of accountabliity to the most important asset you have- the talented but very unappreciated people working at schwab.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Consensus of all reviews I have read on here and experienced myself

Registered Representative (Current Employee)

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

ProsGood place to start and get licensed while gaining knowledge of industry. Decent benefits, however worse than they once were.

ConsBad pay, very monotonous call center, Micro managed call statistics. No upward mobility. Excuses for why you rarely get pay raises. Strongly influence you to vote Republican (Good or bad), Treat you like you are replaceable and use weakness in the job market to give you the take it or leave it approach. Even the positive reviews say pay is bad and it's hard to move up. Consensus is to not make it a career. Get licensed and leave.

Advice to Senior ManagementDo you really care as long as you get the bonuses yourself? Selfishness is the way of the world as long as you don't get to know the people it's easy.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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5 people found this helpful  

Don' work here

Anonymous Employee (Current Employee)

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

ProsCan't think of anything good about working here.

ConsUse to be able to telecommute, but can't anymore. You don't get promoted based on skill, only based on years. Most Sr Managers are poor managers, but have been with the company for over 10 years, and just get promoted based on time with the company.

Advice to Senior ManagementFire yourself. Take a survey of employees and you will find out the company has gone downhill.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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6 people found this helpful  

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

Anonymous Employee (Former Employee)
Phoenix, AZ

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

ProsTheir 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.

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

Advice to Senior ManagementGet 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.

No, I would not recommend this company to a friend

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4 people found this helpful  

Bad management, very political

Anonymous Employee (Current Employee)

I have been working at Charles Schwab full-time

ProsThe company has all the good intention to help people achieve financial goals.

ConsMost managers mostly concerned about their own interest. No good planning. Outsourcing too much work, and burn out good workers.

Advice to Senior ManagementBe realistic about what can be done in reasonable timelines

No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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Glassdoor is your free inside look at Charles Schwab reviews and ratings — including employee satisfaction and approval rating for Charles Schwab CEO Walt Bettinger II. All 85 reviews posted anonymously by Charles Schwab employees.