Charles Schwab Broker Trainee Interview Questions & Reviews
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Updated Apr 30, 2012 – Interview questions and reviews posted anonymously by interview candidates.
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Difficulty Rating [?] Based on 23 ratings 
“Average” Interview
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Interview Experience [?] Based on 23 ratings
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| 1–10 of 23 Charles Schwab Interviews | Sort by |
Broker Trainee at Charles Schwab
Posted Apr 30, 2012
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3.0
Average Interview
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Overall Positive Experience
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Interviewed and No Offer
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Interviewed Apr 2012 in Austin, TX (took 2 weeks)
I initially applied online and my application was pre-screened out because I accidentally indicated that I would need sponsorship. I emailed the company and was contacted via phone two weeks later with instructions on how to fix my application. The same talent coordinator who helped me fix my application also pre-screened me in a ten minute conversation then immediately scheduled me for a full phone interview three days later. I spoke to another recruiter for an hour and then was immediately scheduled for a final interview with two managers four days after that. I spoke with the two managers via conference call for an hour and was told I would be contacted in 2-4 business days with the status of my application. I received an email three days later saying that I would not move forward. The interviews ask a lot of behavioral style questions and many of them are similar - come prepared with more than one example of every question you can think about.
Interview Questions
Other Details
I Applied Online and the interview consisted of a Phone Interview, a Group/Panel Interview and a Personality Test.
Helpful Interview?
Yes |
No
Inappropriate?
Broker Trainee at Charles Schwab
Posted Apr 25, 2012
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4.0
Difficult Interview
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Overall Positive Experience
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Received and Accepted Offer
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Interviewed Feb 2011 in Englewood, CO (took 2 months)
Phone Interview: Just to go over resume and discuss expectations, have one question to ask interviewer. From there you setup a time to take the SIFMA exam.
Second Interview/SIFMA Exam: Take two part exam in timed format, study math and logic questions.
Panel Interview: Interviewed by two people in company, be prepared for behavioral format. i.e. Name a time when you were faced with a difficult task to make customer happy?
Interview Questions
Negotiation Details
No Negotiation, offer is take or leave it. Three months of conditional employment until Series 7 is achieved.
Other Details
The interview consisted of a Phone Interview, a Group/Panel Interview, an IQ/Intelligence Test and a Background Check.
Helpful Interview?
Yes |
No
Inappropriate?
Broker Trainee at Charles Schwab
Posted Apr 3, 2012 — 2 of 2 people found this helpful
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4.0
Difficult Interview
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Overall Positive Experience
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Interviewed and No Offer
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Interviewed Mar 2012 in Phoenix, AZ (took 2 days)
After applying online a phone interview was scheduled. This was not difficult as communicating and talking to people is a strength of mine. The main thing is to so some research on the company which will help you with the question and answer portion. Shortly thereafter I was contacted to take the SIFMA assessment. I scheduled the test about 2 weeks out because I had heard the test was not a cakewalk and was concerned about the math section. I am not exactly math-phobic but it was not my best subject in school. During the 2 weeks prior to the test, I purchased a math book and I brushed up on the basics online. There are several websites where you can practice, math.com is a good one. Unfortunately I did not pass the test. If you don't pass it is over, basically and you cannot move on to the next step. There are approximately 30 questions on the math portion and it is timed, giving you about 2 minutes per question. You cannot go back to questions (answer the easy ones first) and you cannot use a calculator. They do provide scratch paper but my sense is to do well on this test you have to pretty-much be able to calculate in your head. I feel Schwab is a good company and would be interested in working for them if there was a position that did not require passing the SIFMA assessment, possibly something in an administrative capacity. The atmosphere was upbeat and I got the feeling this would be a nice place to work. I'm not sorry I took a chance on this as it was overall a positive experience.
Interview Questions
Other Details
I Applied Online and the interview consisted of a Phone Interview and a Skills Test.
Helpful Interview?
Yes |
No
Inappropriate?
Broker Trainee at Charles Schwab
Posted Mar 15, 2012
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3.0
Average Interview
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Overall Positive Experience
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Interviewed and No Offer
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Interviewed Mar 2012 (took 2 weeks)
There are a few posts here that give a fairly accurate description of the interview process. They are virtually identical to the process I'm going through.
I'm hoping on putting a unique spin on at least a small, but critical part of the interview process ...
3/14/2012: As of today, I'm still going through the interview process. I took the SIFMA assessment this evening. I'm 95% sure I failed because I wasn't able to complete the assessment. Normally I'm pretty good at something like this, but I did miserable on it today. I didn't finish the assessment because I had been very ill the 3 days prior to it. I convinced myself that I would tough it out for a day or two and then go take it.
I didn't count on still being very sick up to just a few hours before the assessment. I also didn't factor in that I had only about 4.5 hours sleep in the 3 days prior to taking the assessment. I started feeling better a few hours before the assessment and decided to take it.
As I was taking the assessment I started feeling worse. I did complete the 1st section, the Logic Section, about 5 minutes before time was up and felt I passed. As I started getting into the 2nd section, I still felt confident I would finish, but that didn't happen. I didn't feel rushed, but in addition to feeling ill, I had lost my sense of time. When "end" was called, I was surprised.
Have you ever really "connected" with a company on an interview? Well I did with this one. As a matter of fact, I've gone into "formality" mode with my interview. I feel so positive about me working here, that I view the remainder of the interview process as a mere formality. Dangerous, I know. Bit what you don't know about me is that when I feel this level of confidence about something, you need to listen to me and take my advice.
Here's my query ... Can someone recommend a way that I can ask for, hint at, or even use something in lieu of my assessment? I've staretd a rough draft email to the assessment administrator to let her know that my performance on the assessment was below my usual standards because of the illlness. I went on to emaplain I wanted her to know I normally do much better meeting my own standards and that I didn't want her (or anyone Schwab) to think I had low standards. I didn't want to out right ask for a re-test, because as small as it may be, there is a chance that I passed. If I did pass, I wouldn't be telling her anything she hadn't thought about, and I would show I have higher standards.
I look forward to hearing your thoughts and suggestions. This is a tuffy, but I think it would be a great example at salvaging a job interview, even when you stacked the odds against yourself. Thanks,
Other Details
I Applied Online and the interview consisted of a Phone Interview, a 1:1 Interview, an IQ/Intelligence Test, a Skills Test and a Background Check.
Helpful Interview?
Yes |
No
View Comments (3)
Inappropriate?
Broker Trainee at Charles Schwab
Posted Nov 15, 2011 — 1 of 1 people found this helpful
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3.0
Average Interview
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Overall Negative Experience
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Interviewed and No Offer
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Interviewed Nov 2011 in Indianapolis, IN (took 3 weeks)
I posted my resume online. Someone called the next day for a five minute screen. Know why you are interested in the position and the company. Then you move on. The next day I had phone interview which lasted 45 minutes. The woman scheduled a time for me to come to Schwab and interview and take the SIFMA later that day. The SIFMA has about 30 logic questions and 27 math questions. The logic questions have about three sentences and a following statement that is either true, probably true, can't tell, probably false, or false. The math questions are lengthy. An example would be John has 60% in Stock A, 40% in Stock B and 500 stocks. Stock A has a rate of return of 7% and B has a rate of return of 5%. After a year, what is the percentage difference in return from Stock A? This is about as tough as it gets. Know how to multiply and divide decimals; that's about it.
Anyway, I passed that, but you need to understand something about Schwab. They test probably 10 people a day, and each one of those people has a final interview. Therefore, they are very, very choosy. I'm thinking about 10% of the interviewees are hired. Just a guess, and forget your qualifications, you have to interview the best. They gave me a problem and a theorist, and I had to simplistically solve the problem through the theorist's eyes like I would explain it to an ignorant customer. I hadn't learned the theories in over two years which was present on my resume, but hey, it was enough, because the rest of my interview was almost stellar, but it didn't matter.
It doesn't matter how well you explain yourself, answer the questions, or love the company. One mistake (doesn't matter how irrelevant the question is) and you're done, because there are really that many applicants that are given a shot. Oh yeah, and after you go through 3 interviews and 2 tests, you get an automated rejection letter, and no one you call is helpful when you want feedback. Forget that most people come here and say they received the offer. People who don't get the job are lot less likely to share their failures, but I hope I was able to help with the SIFMA since no one else explained it and I gave 90% of my questions below. Best to everyone.
Interview Questions
Other Details
The interview consisted of a Phone Interview, a Group/Panel Interview, a Skills Test, a Personality Test and a Background Check.
Helpful Interview?
Yes |
No
View Comments (1)
Inappropriate?
Broker Trainee at Charles Schwab
Posted Oct 31, 2011 — 1 of 1 people found this helpful
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4.0
Difficult Interview
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Overall Positive Experience
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Received and Declined Offer
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Interviewed Mar 2010 in Phoenix, AZ (took a day)
After coming across a listing for the Broker Trainee position through my university career website, I researched and subsequently applied online through Schwab's career site. The follow up on their end was very prompt (about one week), which is exceptional for a 'big-name' institution. A representative from their HR department called to set up a phone interview at my convenience. I scheduled for the following day and was then contacted by one of the program recruiters. Right out of the gates she broke down the program for me into the following: a detailed overview of the position, the type of person they were looking for in this capacity, and finally, what I could expect of the position in terms of salary and advancement. She then conducted a fairly exhaustive (45 minutes) interview, which explored my academic background, interests and experience relating to the field, and my short/long-term career aspirations. Following this I was given the opportunity to pose questions to the recruiter about the company and program. This, I believe, is where candidates are able to separate themselves from the general pool by posing thoughtful, intelligent, and pertinent questions. As stated by the recruiter afterwards, it greatly helps to show that you have done a deal of research on the company and position prior to interviewing. Having evidently met the candidate profile, I was selected for a follow-up interview, which was to be conducted in person.
Interview Questions
Reason for Declining
The follow-up 1:1 manager interview and the 3:1 broker team interview were to be conducted on location in the hiring office (Phoenix, AZ). Given the nature of the program, they did not offer travel expense reimbursement, nor, should the job have been offered, would they have provided relocation assistance. Additionally, the starting salary was set at $35K; much too low to merit relocation.
Other Details
I got the interview through a College or University and the interview consisted of a Phone Interview.
Helpful Interview?
Yes |
No
Inappropriate?
Broker Trainee at Charles Schwab
Posted Oct 21, 2011
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3.0
Average Interview
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Overall Negative Experience
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Interviewed and No Offer
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Interviewed Oct 2011 in Phoenix, AZ (took 7 weeks)
I applied for a Broker Trainee Position that would require me to relocate to Phoenix. The entire process was quite long and lacked communication on their part. I have had the series 7 before and was sure I could pass it again. The first phone interview was 5 minutes and then I would interview with a recruiter and I was asked if I would be able to relocate by Oct 17 if offered the job. I said yes. This was early September. I then went to a local branch and took an assessment test. I passed. After not hearing anything for a week I emailed to get a status. Talent person said she would emai the recruiter. It's about a month at this point and I'm wondering if I was supposed to be there oct 17 its getting late. Finally I get an email saying oct 17 I will have the last interview with 2 hiring managers via the phone. They say I'll get an answer in a few days. 5 days later I get an email that looks to be computer generated saying thanks but no thanks at this time. About 2 weeks before this I was deciding if I was offered the job would I take it? It would have been nice to have the process be a little more organized with more specific timelines especially when relocation was involved. I know its harder via the phone but thats common now. As for the interview its the standard behavior questions "describe when you went above and beyond the call of duty".
Interview Questions
Other Details
I Applied Online and the interview consisted of a Phone Interview, a Group/Panel Interview, an IQ/Intelligence Test and a Skills Test.
Helpful Interview?
Yes |
No
Inappropriate?
Broker Trainee at Charles Schwab
Posted Sep 23, 2011 — 1 of 1 people found this helpful
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3.0
Average Interview
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Overall Positive Experience
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Received and Accepted Offer
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Interviewed Sep 2011 in Englewood, CO (took 3 weeks)
I was contacted by a recruiter for about a 5 minute interview to review the position and find out why I wanted the job. Then we scheduled a longer phone interview with an HR recruiter. This phone interview was partly behavioral but mostly just a review of my resume. At the end of the interview we scheduled a 1:1 interview. I interviewed with 2 managers, and it was all behavioral questions. Like what was a time you went above and beyond a customer's needs. Each recruiter helped prepare me for the next interview. I researched Charles Schwab before both interviews and prepared for behavioral questions- though these are questions I'm quite used to. Then a few days later my recruiter called me back and we set up a time for the skills test. This skills test is hard! There are very few ways to prepare for this test, but review any financial equations. This test is a measure on your ability to pass the series 7. I was really appreciative to the fact that my recruiter was there to help me each step of the way, they really want you to succeed at each step. The managers were very laid back, answered all of my questions, and were very passionate about their positions as well as the company itself. That helped me solidify my decision to join the company.
Interview Questions
Negotiation Details
This is a non-negotiable offer. However, I will say that I have not had previous experience in this side of the financial industry, but the salary was more than I got base at my collections job, so I was happy to accept. From my understanding though, this is lower than what others expected. I think that the great benefits and competitive 401k package makeup for that, but again, I have not had any previous experience.
Other Details
The interview consisted of a Phone Interview, a 1:1 Interview, a Skills Test and a Background Check.
Helpful Interview?
Yes |
No
Inappropriate?
Broker Trainee at Charles Schwab
Posted Aug 23, 2011
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2.0
Easy Interview
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Overall Negative Experience
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Interviewed and No Offer
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Interviewed Jul 2011 in Austin, TX (took 3+ weeks)
I first applied online and went through their application process and after about 2 weeks I received an email and then a call expressing their interest in interviewing me for the position. The first call came and the only question that was asked was: "why do you want to work for schwab?' A few days later another internal HR recruiter called be to ask me a series of questions. I found her to be unprofessional and completely unprepared for the interview. However, after I probed a little deeper and found out that there was only a chance of a bump up in pay from their very small base salary of $34,000 after the 10 month training program is completed and you become a licensed broker, I was not excited about spending the next 10 or more months making $34 k only to have a possibility of an increase in pay at my supervisors discretion. Also, I found it humorous that their is a rather lengthy qualification list that they expect, however the pay certainly isn't going to attract the best talent.
Interview Questions
Other Details
The interview consisted of a Phone Interview and a Personality Test.
Helpful Interview?
Yes |
No
Inappropriate?
Broker Trainee at Charles Schwab
Posted May 31, 2011 — 1 of 1 people found this helpful
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2.0
Easy Interview
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Overall Positive Experience
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Received and Accepted Offer
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Interviewed May 2011 in Englewood, CO (took 2 weeks)
Started with a 10 min brief phone interview, scheduled a longer 30 min phone interview. 30 minute phone interview consisted of mostly behavioral style questions. After the interview I was asked to do an online personality test, then was scheduled for a 1 hour face to face interview at the job site. Face to face interview consisted of more behavioral question's. Once the face to face interview was completed I was called to schedule the skills test. The skills test was about an hour and a half. After passing the test the job offer came.
Interview Questions
Other Details
I Applied Online and the interview consisted of a Phone Interview, a 1:1 Interview, an IQ/Intelligence Test, a Skills Test, a Personality Test and a Background Check.
Helpful Interview?
Yes |
No
Inappropriate?
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