E*TRADE Financial
2.9 of 5 280 reviews
www.etrade.com New York, NY 1000 to 5000 Employees

E*TRADE Financial Reviews

Updated Jul 6, 2014
All Employees Current Employees Only

2.9 280 reviews

                             

52% Approve of the CEO

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Paul T. Idzik

(52 ratings)

41% of employees recommend this company to a friend
148 Employee Reviews Back to all reviews
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    • Proactively contact clients to determine the best method of allocating assets across multiple markets in order to achi

    Financial Sales Consultant (Current Employee)
    Minneapolis, MN

    ProsThe ability to assist client with meeting their goals,. My strength has always been in sales, and this environment allows me to utilize my extensive experience to perform under limited management supervision

    ConsI have been in the securities industry for 27 years, and the overall atmosphere has changed tremendously from one of trust and long standing relationship, to one of distrust and skepticism

    Advice to Senior ManagementWork to repair the image of the ind

    No, I would not recommend this company to a friend

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    Etrade is transitioning from a stock brokerage firm to a discount full service broker.

    Financial Services Representative (Current Employee)
    Salt Lake City, UT

    ProsEtrade values work life balance and offers opportunities to advance in your career path. The management team also supports their employees allowing them to pursue their professional goals.

    ConsEtrade is primarily a stock brokerage firm and is transitioning to a discount broker dealer firm with a full product line offering. Having worked at a competitor in this space Etrade needs to develop products that are competitive in both price and performance to be successful. The firm also needs to embrace retirement planning as an initiative to further develop client assets to diversify the firms revenue stream during turbulent market conditions.

    Advice to Senior ManagementThe internal systems at Etrade need to be reviewed and modified to be more inline with competitors software package for employees. If the firm is attempting to transition to a full service discount broker and intends to offer more than a platform to trade stock, information must be accessible in a more useful format for employees. Additionally, there are several contract groups that offer 3rd party services for Etrade that should be brought in house to ensure business continuity.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    1 person found this helpful  

    Software ruled by clueless NY business people

    Senior Software Engineer (Current Employee)
    Menlo Park, CA

    ProsIf you find the right team, you will be working with nice people, some of whom have been there for years. It is a more laid-back environment, in most cases, and again, depending on the team. Changes in leadership means that some finally got to advance in title (the company has a relatively flat hierarchy, and rarely promoted from within to manager positions), and new technology is started to be explored and used.

    ConsIn the past year and a half, there was a major layoff, in which most of the contractors, and some full timers (some who had been there for a decade) got laid off for the first time in years. Within a few months, departments were scrambling to rehire to fill those positions and new ones too. It could be argued that the company was trying to save money and get rid of poor performers, but in the end, we hired newbies who had to be retrained (the tech 'stack' is archaic, frustrating, and a time-suck to deal with) and the market got so hot it was extremely difficult to hire top performers who would accept the lower pay Etrade was offering. All of this resulted in some poor code/projects not up to the same level as before. On top of that, Etrade became very strict about physical time spent in the building. They were always obsessed with 'badging in/badging out', and we were periodically told to be in the office no later than 9:30 am (sometimes by 8, whenever a CEO was in town), but recently I felt like we were more closely monitored on this, to the point where people wouldn't leave the building for lunch, and would take less walks around the parking lot, and would even just sit in their cubes doing nothing until 5:30 came around, if they had finished their work for the day. For a tech company, this is odd...usually if you are lucky enough to finish for the day, you are free to go, and techies are known for their late starts in the morning and leaning towards a flexible schedule. And forget working from home, at all, unless your manager likes you, and is not scared of discussing your badge log with their superiors. If you like that sort of thing, don't join Etrade. The bottom line is that this is a financial institution, based and led by often clueless people in New York, who don't have an understanding of what makes the tech side of things great (which is a shame, because for the most part, Etrade is an online business, and is known for that). 4? CEOs have come and gone in the past 5 years, and the current leadership (Idzick) is as hard core NY as you can get...he was brought in by the board to get money for shareholders, and money and the short term is what he is focused on. For a year after he joined, he was unable to convey any sort of goal, long or short term, to us worker peons. In the interim, many long timers decided to leave after a decade of service (to apple, start ups...lost some good talent). My feeling is that they will continue to sell off portions of the business, and 'lean things down' until they can sell the trading platform. When that goes, so goes the company and whoever works for it. It may take years, and in the meantime, if you wish to put some financial coding experience on your resume, join. But don't make the mistake of staying too long.

    Advice to Senior ManagementLearn what it takes to be a successful software company. Support your Tech people, give them the tools and environment it takes to succeed and attract the good talent in the Silicon Valley. Provide a better path toward career advancement and pay raises. Let people becomes leaders within the company. Stop fiddling around with monitoring badge logs, and focus on the bigger picture.

    No, I would not recommend this company to a friend

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    Not bad, but limited opportunities for growth

    Principal Software Engineer (Current Employee)
    Alpharetta, GA

    ProsNice environment, but mostly because of a great direct manager.

    ConsLimited opportunities for career growth.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Tough to move up and get noticed

    Anonymous Employee (Current Employee)

    ProsThere are good people to work with

    ConsManagement does not value the workers

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

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    It's Dilbert's world brought to life.

    Anonymous Employee (Current Employee)
    Jersey City, NJ

    ProsUpper management is trying to turn the tech side around and have introduced a number of process improvements to help make things more transparent. There is a move to upgrade the technology and its infrastructure. Considering the all new executive suite, it will be some time before the success of this undertaking can be evaluated.

    ConsMediocre salary. High stress levels. Not much room for advancement unless you are more into game playing than actual innovation and accomplishment. Technology dating back to the 90's and unlikely to change very quickly. Working level leadership is more interested in empire building than building the company. At present, the process that has been implemented is all show and no substance.

    Advice to Senior ManagementIt would help to translate the advertised company values into something real instead of relying on an obsolete management style based on bullying. Good upper management intentions are usually frustrated by a lack of follow through. The middle-management bureaucracy somehow manages to protect it's domain, and give the appearance of acting without really taking the process improvements to heart.

    No, I would not recommend this company to a friend

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    Long-Time Employee, Slowly Worked Up the Ladder

    Manager (Current Employee)

    ProsE*TRADE Financial offers a high energy environment with lots of highly technical minds.
    Vacation policies are generous after you've put in your years.
    Excellent health benefits.

    ConsPromotions are hard to come by.
    Company direction is constantly in flux as Executive Management team has experienced high level of turnover.
    Significant raises can only be found with title changes and promotions; however, these raises are paltry in comparison to what can be obtained elsewhere

    Advice to Senior ManagementTake better care of the hard working individuals that have stood by the company over the many years of turmoil at E*TRADE Financial.

    – I'm optimistic about the outlook for this company

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    Good experience

    Financial Analyst (Current Employee)
    New York, NY

    ProsGood mentorship from employees and a good support system. fast paced and it requires you to make sure you are willing to adapt to your surroundings.

    Consthe downside is the micromanagement on the lower service teams. it is more of a political game when it coms to promotion. several individuals come to this company with year soy experience and i feel they are belittled.

    Advice to Senior ManagementPay more.

    No, I would not recommend this company to a friend

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    Good place to work

    Anonymous Employee (Current Employee)

    ProsCoworkers were good and the pay was decent. Good place to build up some experience. They also paid for FINRA registration materials.

    ConsVery stressful and high pressure. I did not work in sales yet I was effectively expected to be a salesperson

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    Good job for the young and single

    Financial Services Representative (Current Employee)

    ProsTraining provided to earn your Series 7 is excellent. Base pay is decent compared to most call center jobs. Promotions are easy to come by since the company cleaned house a few years ago. There is unlimited overtime opportunity during tax season.

    ConsEmployees that work less than 50 hours a week receive poor performance reviews. You will be required to refer millions in outside assets from existing client base and receive no bonus for your efforts. Your job is to help clients maintain regulatory compliance so you have to maintain a high level of focus for long hours.

    Advice to Senior ManagementFocus more on training after Series 7.

    Yes, I would 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 E*TRADE Financial reviews and ratings — including employee satisfaction and approval rating for E*TRADE Financial CEO Paul T. Idzik. All 148 reviews posted anonymously by E*TRADE Financial employees.