Charles Schwab

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Charles Schwab Reviews

Updated August 17, 2014
Updated August 17, 2014
879 Reviews

3.1
879 Reviews
Rating Trends

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Charles Schwab President and Chief Executive Officer Walt Bettinger II
Walt Bettinger II
530 Ratings

Review Highlights

Pros
  • It does allow for a good work/life balance which was very important to me (in 72 reviews)

  • good benefits especially Sabbath every five years (in 51 reviews)


Cons
  • Not much room for growth in Indy unless you want to stay in a call center (in 43 reviews)

  • There are very few woman and people of color in middle and senior management (in 24 reviews)

More Highlights

108 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1. 2 people found this helpful  

    Worst company to work for.

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

    Pros

    thee are no pros, worst company with a very low work morale and balance.

    Cons

    People are narrow minded, a lot of politics (politically correct - which means shut up and do nothing); executive team are hypocrites. salaries are on the lowest end. Do not work for this company, you are never going to be appreciated there.

    Advice to ManagementAdvice

    think about your people first

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2. 1 person 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

    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
  3.  

    NOT GOOD for the seasoned Financial Advisor

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President Financial Consultant  in  San Francisco, CA
    Current Employee - Vice President Financial Consultant in San Francisco, CA

    Pros

    You get a book of business, no "cold calling."
    You might be able to take a sabbatical after 5 years, but it all comes down to whether you are the manager's favorite or not.
    Support from the operations center in Phoenix and Austin are great.

    Cons

    Low base salary of $40,000 and if you get pegged into a lower level (levels 1 or 2 vs 3 or 4), you will work just as hard as your peers for less.
    Trying to pass Schwab off as "wealth managers" when they lack a private bank, local teams of advisors/support, the ability to show the true capabilities of the Private Client advisory offer
    Management plays favorites in structuring your "level" for compensation and will cut you out of leads and opportunities to grow. Very petty and childish atmosphere.
    Unqualified to barely-qualified "Financial Consultants" and operations personnel

    Advice to ManagementAdvice

    Pay a better salary if you are going to expect your Financial Consultants to be actual Wealth Managers
    Provide the proper tools to do the job
    Add private bank or trust services if you really want to attract ultra high net worth clients
    Quit relying on phone-based teams to handle new clients that are eligible for a branch relationship -- wealthy clients want a team of professionals nearby with whom they can meet and have all their paperwork handled locally, not back and forth over the phone until it gets so messed up they walk into a branch ticked off.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5. 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

    Pros

    good salary and benefits, covered parking

    Cons

    Awful work culture, no work life balance.

  6. 5 people found this helpful  

    Schwab sucks

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    They have decent benefits

    Cons

    No room for growth. Very corporate

    Advice to ManagementAdvice

    Get a life

  7. 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

    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
  8. 1 person found this helpful  

    They stab you in the back once you reach 16 yrs in tenure.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Retirement Services Specialist  in  Indianapolis, IN
    Former Employee - Retirement Services Specialist in Indianapolis, IN

    Pros

    the people you work for

    Cons

    they do not value their tenure employees.

    Advice to ManagementAdvice

    go back to the way you valued your senior employees while Chuck was in charge of the company,.

    Recommends
    Neutral Outlook
    Disapproves of CEO
  9. 3 people found this helpful  

    Great if you drink the Kool-aid....

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Customer Service Representative  in  Indianapolis, IN
    Former Employee - Customer Service Representative in Indianapolis, IN

    Pros

    Benefits. The company offers a friendly and fun culture as a whole but for me this did not translate into a good working environment. I was constantly put on the spot and made to feel uncomfortable the entire time. Its like working in a fish bowl. The micro management is severe.

    Cons

    Constant black outs for vacations especially during the holidays and Saturdays. Tax season is horrible. No vacation time allowed from Jan thru April. High turnover. There is not much room to move up in the Indianapolis site unless you want to remain on the phones. You have no say on your schedule. Yes you can bid, however, my options were :basically all the same schedule but at varying times of the day. For example, I could work Sun-Thurs 8-6:30 or 8:30-7 and so on. If I cant work Sun, this is no help! Dont be fooled! Unrealistic expectations for being on the phones. I was afraid to go the bathroom as I knew it would count against my stats. Seriously! If you are loud, obnoxious and have a strong bladder, you will do just fine. However if you are a more reserved person who likes the liberty of not being chained to a desk, run..don't walk away from Schwab. They def have their favorites. You can tell by how the bonuses are paid. Not much room for growth in Indy unless you want to stay in a call center.

    Advice to ManagementAdvice

    Provide your staff with available time to use earned vacation during the year. More schedule options. Stop putting people on the spot in meetings and forcing them into uncomfortable situations that have nothing to do with the job. I gave up playing games in grade school. I'm an educated adult and am here to work. Stop allowing CSRs to run meetings. Its demeaning to an educated professional to be told what to do by a loud mouth glorified clerk. I expect to hear from my team manager.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  10. 4 people found this helpful  

    Expected more

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Customer Service Representative  in  Englewood, CO
    Current Employee - Customer Service Representative in Englewood, CO

    Pros

    Work with great people, sabbatical

    Cons

    Low pay, ridiculous raises, no career growth mostly lateral moves. Management has no backbone, they don't stand or help their staff.

    Advice to ManagementAdvice

    Be fair across the board

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11. 10 people found this helpful  

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Manager, Information Management Technology  in  San Francisco, CA
    Former Employee - Senior Manager, Information Management Technology in San Francisco, CA

    Pros

    401k match, insurance, and training used to be among the best, but no more.

    Cons

    During 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 ManagementAdvice

    Eliminate 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.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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