Charles Schwab

  www.schwab.com
  www.schwab.com

Charles Schwab Reviews

Updated December 9, 2014
Updated December 9, 2014
900 Reviews
3.1
900 Reviews
Rating Trends

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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

243 Employee Reviews Back to all reviews

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

    Micro managers

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

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

    Pros

    Good people to work with for the most part.

    Cons

    Feels like government work with most people long timers. Seems like you have to prove yourself and put in the time to a job you are overqualified for in the first place. Managers micro manager and are not innovative or see potential and appreciate the positive. Customer comes first, no appreciation of those that work the trenches in the branch. High expectations for financial consultants which gives them little incentive to support operations.

    Advice to ManagementAdvice

    Stop counting each other's feathers and start appreciating and rewarding the people that support your branch.

    Doesn't Recommend
  2. 2 people found this helpful  

    Ok for people looking to just get by.

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

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

    Pros

    Benefits are okay, but not great.

    Cons

    No consideration from management about the opinions of employees. Complete micromanagement of every second of the day. Low salary

    Advice to ManagementAdvice

    Listen to employees, and raise the benefits.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3.  

    Participant services representative

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

    I worked at Charles Schwab

    Pros

    Great way to get your foot in the door with an established firm. Excellent training and career development opportunities. Great way build experience as you will learn all aspects of retirement plans and will learn technical skills.

    Cons

    Pay is subpar and is significantly below the industry standard. Extreme micro-management with a high focus on sales.

    Advice to ManagementAdvice

    Offer competitive pay and you will retain your best employees.

    Doesn't Recommend
    Neutral Outlook
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  5.  

    Have been working here for 7 +

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

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

    Pros

    Education and employee development. Management is willing to work with you to improve areas of weakness.

    Cons

    Lack of a technology has been a bit of an issue. Seems to be more of an area of focus recently.

    Recommends
    Positive Outlook
    Approves of CEO
  6. 10 people found this helpful  

    Just drink the Kool-aid

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

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

    Pros

    Very stable job environment. The benefits are decent, not great, but decent. There are some good people in the organization, you just have to find them. CEO is very down to earth and very approachable.

    Cons

    Their pay structure is wildly out of date and they are struggling to keep talent in the building. Group think runs rampant and while they think they are innovative, they really aren't. Nothing happens fast, if you prefer nimble this isn't the place for you. Nothing to really attract younger people, you hear a ton about culture but it's not organic, more forced than anything.

    Advice to ManagementAdvice

    Quit agreeing with everything your boss says, challenge and call BS when you see it.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  7. 6 people found this helpful  

    good company to work for

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

    I have been working at Charles Schwab as a contractor (more than an year)

    Pros

    good work/life balance, depends which group you fall in.

    Cons

    bad management, micro managers, less advancement opportunities, since no one leaves

    Advice to ManagementAdvice

    management sucks

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8. 6 people found this helpful  

    Fade fast...no upper support

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

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

    Pros

    the people you work with makes work fun and less painful with all the alert levels etc. 401k match.

    Cons

    the longer you're there the faster you fade, I worked in the glory bonus days where they paid out 150% now you get $300 a quarter no matter how hard you worked. Leadership is a job, won't talk to you at all and managers are forced to manage by stats...stats are huge. They dont care how many calls you take or what you go through to make clients happy...it's all about numbers.

    Applying for other jobs within is a joke, politics!! You can have the experience and all the qualifications but they'll hire someone that's been there a year over tenure. You feel forced in your role and like there's no hope forcing you to find employment elsewhere. Salary and raises are a joke also. They have a pay grade system and when I started 10 years ago you got pretty good raises now 2% annually not gonna cut it when rents at its all time high. Also new reps are starting out at what people are making that's been at the company for 5 plus years without no industry experience. They pay these reps to get license etc just to see them leave the firm, because they realize it's all a joke. It's a good starter firm, but don't waste years thinking Schwab will invest in you...

    Advice to ManagementAdvice

    I've seen good management over the years, but this new management team wants to look good in front of peers vs standing up for what's right.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  9. 5 people found this helpful  

    if you want to shine, work somewhere else

    • 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 an year)

    Pros

    Some of the most genuine, kind-hearted co-workers ever. Nice to work for an investment company that is truly transparent about its offerings and provides excellent customer service. Great work-life balance (almost too good--the work suffers because management is so supportive of people's "issues").

    Cons

    Systems, policies, and procedures reward mediocrity. Technology is restrictive and outdated. You'll spend most of your time navigating the bureaucracy instead of actually doing any real work. Untalented, problematic people get coddled. Good luck getting a promotion--Schwab doesn't understand how to reward, cultivate, or retain top talent. Shameful how much time and effort are spent on work that never sees the light of day, which isn't just frustrating: it costs investors money!

    Advice to ManagementAdvice

    FIRE SOME PEOPLE. Hire a true digital leader--not a Schwab native--most of those people have worked at Schwab too long to understand how to be modern and innovative. Stop being afraid of putting a stake in the ground about what makes Schwab special.

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

    Family friendly company but could stand to pay a bit more!

    • 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 8 years)

    Pros

    Great people work here and are well intentioned in their efforts. Quality of life is also extremely important to management which means no late nights at the office unless it's absolutely necessary.

    Cons

    From a competitive salary/bonus perspective they could stand to do a better job. As the job market continues to grow they stand to lose a good bit of their talent if they aren't able to compensate.

    Advice to ManagementAdvice

    Compensate your employees fairly or risk losing the top talent.

    Recommends
    Neutral Outlook
    No opinion of CEO
  11. 1 person found this helpful  

    Good benefits but salary is below industry standard

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

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

    Pros

    Good benefits: 401k matching, 17 days vacation + 10 days sick time per year, 1-month paid sabbatical leave every 5 years. Laid-back work environment. Good work/life balance.

    Cons

    Salary of a software engineer is below industry standard in the SF bay area. I guess it makes sense since it is a bank and not a software company. Software development is considered a cost center.
    Yearly increase is very small even if your merit rating is very good.
    Software engineering managers are a joke. Very few are technical. Most managers do not know how to program or do not have a computer science background.

    Advice to ManagementAdvice

    Hire competent and truly technical managers.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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