E*TRADE Financial Reviews

Updated August 1, 2015
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2.0
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Paul T. Idzik
18 Ratings

Pros
  • Work life balance, decent pay (less than what competitors are paying) (in 16 reviews)

  • Paid for Series 7 and 63 classroom hours with amazing instructor (in 13 reviews)

Cons
  • Senior Management, very little communication from mgmt & No work life balance (in 10 reviews)

  • Call center work can eventually wear on an individual (in 14 reviews)

More Pros and Cons

85 Employee Reviews

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  1. Could be great, shame about management

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at E*TRADE Financial

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Smaller place, can make a difference if you apply yourself. Benefits are okay but not great. Company in general seems to be coming back from the dark days when the economy fell and E*Trade almost imploded from bad mortgage loans

    Cons

    Not enough budget is given to implement initiatives that would clearly make money for the company and for projects that are on the road map.

    Advice to Management

    Trust your employees to move the business forward, there is no need to micro manage. They really can get the job done if you let them.


  2. no

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Service Representative in Alpharetta, GA
    Former Employee - Financial Service Representative in Alpharetta, GA

    I worked at E*TRADE Financial full-time (Less than a year)

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    Ability to obtain Finra licenses

    Cons

    Inadequate training and support. There is an I mentality versus a team to support the company and clients.

    Advice to Management

    Be present in what is actually going on in your departments and the support departments.


  3. UX process unstable, backwards, and underappreciated

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - User Experience Architect in Jersey City, NJ
    Former Employee - User Experience Architect in Jersey City, NJ

    I worked at E*TRADE Financial full-time (Less than a year)

    No opinion of CEO
    No opinion of CEO

    Pros

    Like many places, ETrade has some wonderful people working for it. In general the atmosphere is relaxed except for those who ...

    Cons

    must report to key individuals who have no business being in positions of authority in particular domains. As such, the UX group, in its infancy at the time, reported under the Operations group who, by nature, are reactive and showed no appreciation or willingness to understand the need for UX to research and plan strategy. As a result, much stress endued not only for UX but for product management as well.

    Advice to Management

    It may have been done by now, but UX does not belong inside an operations group, a cadre responding to client complaints and reporting on operational metrics.


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  5. Helpful (3)

    Financial Consultant

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at E*TRADE Financial

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    free coffee and soda. nice office

    Cons

    This company is a mess. Management is turning over constantly. Goals are high and never able to me met. The compensation plan is horrible. You'll only make money here if you are in a big market NYC, Chicago, etc.


  6. Sr. FSR

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

    I have been working at E*TRADE Financial

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    The paternity benefits are great, 4 weeks off!

    Cons

    It's a call center and the retention rate is really poor. They don't seem to care, they just hire more people.


  7. Helpful (4)

    You

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Consultant in Sandy, UT
    Former Employee - Financial Consultant in Sandy, UT

    I worked at E*TRADE Financial (More than a year)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Short commute. All the coffee I could drink. Convenient phone booths to duck into when you wanted to make/take a cell phone call. Flexible hours.

    Cons

    Where to start? The Financial Consultant role at the National Branch in Sandy, Utah is a joke! You're given some other failure's book to work. There will be 300+ households and well over $100 million under care. They will all be between 65-75 years old and average about $400k. They're sophisticated investors and they're already working with wealth managers elsewhere. Their E*TRADE money is their "fun money" and they want no advice whatsoever. Yes, there are exceptions but those exceptions are outliers. The actual opportunity is with the new in-flows. You can expect to get one warm transfer daily. It may be $25k or it may be $250k. Tag those assets and try to influence it toward a managed portfolio. Do that each and every day and you may make it for a while. Meanwhile, if that single warm daily transfer comes while you're outbound, spontaneously drop the call because if you don't, you'll fall to the bottom of the queue and there won't be other leads that day. It only takes a handful of days each quarter to miss tagging the assets or moving the money into managed before you're done. There are a number of leads that come in electronically. the BM has access to those and hands them out to those he likes. He can argue that he's simply feeding his best performers but it's blatant favoritism and nothing more. Training and support is a joke. You may make more outbound calls than anyone else, you may leave paragraphs of notes and make every effort to deepen the relationship with your book but if you don't post numbers, you're out. Sure, I'm a disgruntled former employee but there are hundreds just like me before and since that know I speak the truth! The whole experience left me cynical as hell. Everything felt sleazy. Technology was a solid 2/5 stars and you'll spend lots of time with India to get things working each month. The client-facing web site is amazing! Why they can't duplicate that for the back office is laughable.

    Advice to Management

    Stick with what you do best - low cost trading. Don't try to be a sales organization without first putting in place everything you need to be a sales organization. Increase revenue through fees and give up on the idea that share price will ever be anything but garbage. Rank your employees second after your clients. You can't build a great company on the broken backs of your staff.


  8. Principal Software Engineer

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

    I have been working at E*TRADE Financial full-time (More than 10 years)

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    At this time none. Good for H1B candidates

    Cons

    It is just a software engineering job here. Anything at or above Manager position are considered good

    Advice to Management

    No definite career track for engineers and low salaries.


  9. Helpful (1)

    Financial services representative

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative in Alpharetta, GA
    Former Employee - Financial Services Representative in Alpharetta, GA

    I worked at E*TRADE Financial

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    Pros

    Benefits-dental, vision, medical. The trainers are great.

    Cons

    Scheduled breaks and lunch. Lunch is only 30 minutes everyday. Managers and team leaders are strict about you going to lunch on scheduled time even if you are on a call. They treat you like machines. During tax season you have to work mandatory overtime. Paid time off is hardly ever approved even if you have the days available. They are strict on your sales goal and exceeding your sales goal every week is the only way to move up in the company. Horrible company to work for and worst financial institution I have ever worked at.

    Advice to Management

    Stop monitoring our work, after call time. If we are on after call or work it's because we are helping your clients get their needs done.


  10. Helpful (1)

    Full of promise...but really disappointed

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst in Arlington, VA
    Current Employee - Analyst in Arlington, VA

    I have been working at E*TRADE Financial full-time (More than a year)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    - Work life balance - Some of the company events are fun, but in the end does not make up for the cons

    Cons

    - Culture, culture, culture. I cannot stress this one enough. Most of the current employees have been here for so long they are just pushing buttons at this point and do not know how to teach or mentor. I'm sure it used to be a good company, but the new hire turnover is extremely high. - Compensation. The company promises you you are being compensated above market, but that is simply not true. Once you talk to the current employees you will find out most are not happy with their pay and it is difficult to get raises. Bonuses are also "discretionary" and not promised. - Last note. DO NOT GET STUCK IN EITHER AUDIT OR INTEREST RATE RISK MANAGEMENT. You have been forewarned. The turnover is EXTREMELY high for these divisions for good reason. The people are very difficult to work with and the culture is of low moral because of the constant turnover.

    Advice to Management

    Top management needs to create a culture where it is enjoyable to work. Only works from the top down.


  11. Helpful (1)

    A company for last employment before you retire? Maybe

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Engineer in Atlanta, GA
    Current Employee - Engineer in Atlanta, GA

    I have been working at E*TRADE Financial

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    - Still using old technology such as Perl, so less demand on your skill upgrades - Slow to adopt new technology for in house development, so less demand on your skill upgrades - You are mostly not measured by your technical competence, so less demand on your skill upgrades

    Cons

    - Still using old technology such as Perl - Slow to adopt new technology for in house development - You are mostly not measured by your technical competence - WFH, work hours etc very much dependent on your report manager - Too many regulatory restrictions both federally and cooperationally

    Advice to Management

    Have an IT strategy or Have some transparency with your IT strategy



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