Charles Schwab Reviews

Updated October 16, 2014
Updated October 16, 2014
876 Reviews
3.2
876 Reviews
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Charles Schwab President and Chief Executive Officer Walt Bettinger II
Walt Bettinger II
525 Ratings

Review Highlights

Pros
  • It does allow for a good work/life balance which was very important to me (in 76 reviews)

  • good benefits especially Sabbath every five years (in 57 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

186 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    Ok for entry level

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

    I worked at Charles Schwab full-time

    Pros

    Vacation time and sabbatticals are best things about Schwab.

    Cons

    Pay and management both upper and middle are very poor.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    Past its prime

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

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

    Pros

    Work/life balance is very good. In by 8, out by 5.

    Cons

    Management only there for themselves. People not very helpful. Once announcement was made to move out of SF, morale went down...

    Advice to ManagementAdvice

    Listen a bit more to the Senior Managers rather than just rely on the Managing Directors. You may learn something...

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3. 2 people found this helpful  

    A nice place to put your career to pasture. Avoid if you are under 30 years old.

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

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

    Pros

    - Work/life balance
    - 401k matching up to 6% of annual salary
    - Sabbatical every five years

    Cons

    - Many unmotivated workers who do the minimum, if that.
    - Below industry standard pay
    - Health plan's gotten worse, which is all Obama's fault... right.

    Advice to ManagementAdvice

    Increasing shareholder value at employees' expense isn't a long-term solution. Helping Clients is a great thing, but remember that your workforce is a big part of that.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5. 1 person found this helpful  

    Noone cares about their employees. Just put in the hours and do the same thing the next day.

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

    I worked at Charles Schwab full-time (more than an year)

    Pros

    great office, food, people, different shifts

    Cons

    huge turnover, call center where you take 100 plus calls a day every day

    Advice to ManagementAdvice

    promote people faster

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  6. 3 people found this helpful  

    Nothing to differentiate them from any other financial services provider

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

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

    Pros

    I believe they are sincere about wanting to focus on the customer but their risk aversion means that they lag farther and farther behind in proving innovative solutions.

    Cons

    A culture of fear persists; executives are yes-men who dare not relinquish any control to their middle managers. Some departments aren't even allowed to speak to others.

    Advice to ManagementAdvice

    Get real about who you are and be honest with employees about it.

    Doesn't Recommend
    No opinion of CEO
  7. 4 people found this helpful  

    It could be so much better...

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

    I worked at Charles Schwab full-time (more than 5 years)

    Pros

    I loved the people I worked with. Made decent money one year but then they changed comp plan to pay us less so it would have been less this year. If your numbers are good enough, you may qualify for a four week paid "sabbatical" every 5 years of service. Good work/life balance.

    Cons

    Schwab is filled with micromanaging, power hungry middle managers who drink the kool aid and kiss their higher ups behinds. No idea why we need so many of them. In our branch, our manager made huge money and I've no idea what he did all day. Got on a couple conference calls and spied on his staff of 5. You can feel chained to your desk. You are monitored all the time, including through secret surveillance. The company seems to exist to benefit the very top exclusively. For the hardworking employees, pay and benefits are subpar. Innovation and change are not welcome here. Burnout is high. The technology we use is a joke!! Truly embarrassing.

    Advice to ManagementAdvice

    Improve pay, offer better benefits, encourage innovation with more than lip service, invest in cutting edge technology!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 1 person found this helpful  

    Office Space style management

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

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

    Pros

    Working for a well known and respected financial institution. Long time engineers here know their stuff and are always helpful towards new people.

    Cons

    Experienced software engineers are underpaid by at least 50% when comparing against BLS data for the Bay Area (in 2010). Schwab management hierarchy is massive, the company puts an emphasis on the business side with engineers being seen as mere interchangeable assets. As a result of this bloated, top heavy management structure you will be required to attend many meetings throughout the day so that your most immediate 3-4 managers can report to their managers on how the work is going. Generally you might find 2 hours (3 hours if you work at your desk during lunch, a common practice at Schwab) between meetings to complete some actual work.

    The culture is corporate, stodgy and sterile with new policies designed to reign in the "work/life" balance by destroying telecommuting privileges and punishing those that challenge the status quo.

    Also, cubicles.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 1 person found this helpful  

    Started well, went downhill

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

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

    Pros

    Company basically ethical, offers wide variety of products. Used to be an excellent corporate culture. Sabbatical of four weeks every five years. Fair bonus policy, although based on bell curve rating system rather than individual merit.

    Cons

    In my 15+ years at Schwab, management has gone downhill since Chuck left. Employees treated like commodities. IT being relocated to Texas and Colorado. Very disfunctional IT organization. Lack of clear communication between business groups and IT. Corporate culture eroded to less than exceptional. Lots of seasoned staff have left for direct competitors.

    Advice to ManagementAdvice

    Start treating employees like professionals, and stop replacing seasoned staff with cheaper staff here and offshore. Improve employee engagement, which is at an all-time low.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Not what it appeared to be

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Austin, TX
    Current Employee - Anonymous Employee in Austin, TX

    I have been working at Charles Schwab full-time (more than 5 years)

    Pros

    Co-workers were terrific. Great benefits.

    Cons

    The management and culture are not what they appear to be – No ownership.

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    Not good for IT in the Bay Area

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

    I worked at Charles Schwab full-time (more than an year)

    Pros

    Good benefits, OK work environment, interesting projects

    Cons

    IT employees are either laid off or moved to Colorado, Texas or Arizona. Lots of outsourcing.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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