E*TRADE Financial

  www.etrade.com
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E*TRADE Financial Reviews

Updated August 18, 2014
Updated August 18, 2014
293 Reviews

2.8
293 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
(no image)
Paul T. Idzik
54 Ratings

Review Highlights

Pros
  • Etrade values work life balance and offers opportunities to advance in your career path (in 16 reviews)

  • The Series 7 and 63 training is free and useful in other jobs (in 13 reviews)


Cons
  • could improve in employee work life balance (in 8 reviews)

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

More Highlights

90 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    After 7 years, 5 titles and 3 relocations

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

    Pros

    Flexible work schedule, great benefits

    Cons

    Lack of direction, uncompetitive salary, few perks.

    Advice to ManagementAdvice

    Hire some thinkers, not just workers.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2.  

    Financial Service Representative

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

    Pros

    Pay and training is good.

    Cons

    Overly micro-managed environment. Not for people who like to work independently.

    Advice to ManagementAdvice

    Ease up on micro managing

    Recommends
    Neutral Outlook
  3.  

    Company living in the past

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

    Pros

    The people here are nice.

    Cons

    Very little diversity.
    Do not care about the comfort of their employees. (2 microwaves and 2 fridges for the entire bottom floor.
    Cramped spaces to work in. Some even share a desk.
    No communication between groups.
    Pay is not up to par for being in the Silicon Valley.
    Outsource way to much which causes even more communication problems.

    Advice to ManagementAdvice

    Pay more and include more benefits in order to make coming to work more enjoyable. If you want us to work long hours at least make it comfortable.

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

    Overall a good place to work

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

    Pros

    Smaller company
    Good clients for the most part
    Uncapped comp plan for sales

    Cons

    Very little career progression
    Small fish in a big pond

    Advice to ManagementAdvice

    Need to come up with a better career advancement plan

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Representative  in  Salt Lake City, UT
    Current Employee - Financial Services Representative in Salt Lake City, UT

    Pros

    Etrade 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.

    Cons

    Etrade 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 ManagementAdvice

    The 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.

    Recommends
    Positive Outlook
    Approves of CEO
  7. 3 people found this helpful  

    Software ruled by clueless NY business people

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

    Pros

    If 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.

    Cons

    In 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 ManagementAdvice

    Learn 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.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  8.  

    Once a great company, now reduced to mediocrity and support of the ever-declining status-quo

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

    Pros

    Was a great opportunity to work on some bleeding edge technology products a few years back. Good if you like outsourced environments - there is a lot of use of outsourcing here so if you are into that type of environment, you could fit right in here.

    Cons

    Lots of outsourcing, most people are just there for the paycheck. The environment is often described as long-time employees as "toxic". Personal growth opportunities are now largely limited due to the outsourcing -- being promoted likely means more late-night calls with teleworkers and remote teams.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  9.  

    Great training and good experience

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

    Pros

    My colleagues at E*Trade were great. I also had a very supportive manager. The benefits are good and included insurance for domestic partners. I felt the pay was fair and the training was superb.

    Cons

    Call center work can eventually wear on an individual. There is such an emphasis on leads that sometimes one can feel like they are a child being constantly poked and prodded. Employee interface is not particular efficient and would cause unnecessary customer delays. Most opportunities seem to be lateral unless one goes into sales or management, although advancing from an entry-level rep is definitely encouraged.

    Advice to ManagementAdvice

    When finances get better, improve the system that reps use. Also, consider more definition of sales versus service roles. Service sometimes feels like their sole job is to feed leads to FC's. FC's lessen the value of their role by dumping service issues back to reps. Improving intra-department communication would also help smooth transition of new assets to company. While the website is really good, there are some functions that really seem to need improvement but are simply neglected.

    Recommends
    Positive Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    Ok company to work for but politics at play.

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

    Pros

    Work life balance, decent pay (less than what competitors are paying).

    Cons

    You are bombarded and pressured to bring new accounts for the company which they call leads and you are given a goal of 7 a week, promotion is merit mixed with a lot of brown nosing, stressful work being on the phone talking to angry customers (its a high end call center), and the management are based on tenure rather than actual management skill.

    Advice to ManagementAdvice

    A little less politics, To retain great employees, realize that not everybody is good in sales. So less pressure on getting leads at all cost and more emphasis on great customer service.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  11.  

    Great place to work but no raises

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

    Pros

    High technology company with lots to do

    Cons

    No raises, culture is stodgy

    Advice to ManagementAdvice

    Focus on customer

    Recommends
    Neutral Outlook
    No opinion of CEO

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