Charles Schwab Broker Trainee Interview Questions

Updated Jun 6, 2014
Updated Jun 6, 2014
33 Interview Reviews

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8 people found this helpful  

Broker Trainee Interview

Anonymous Interview Candidate in Indianapolis, IN
Anonymous Interview Candidate in Indianapolis, IN
Application Details

The process took 3 weeksinterviewed at Charles Schwab in November 2011.

Interview Details

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
  • Phone and In Person: Describe a time you went above and beyond for the customer. Phone: Tell me about yourself.   Answer Question
  • In Person: Describe a second time you went above and beyond for the customer?   Answer Question
  • In Person and Phone: Why Schwab?   Answer Question
  • In Person: Describe a time you were criticized and how did you react?   Answer Question
  • In Person: What did you do when a co-worker was struggling, and what was the outcome? Challenging situation on the job and what was the outcome, how did you react?   Answer Question
No Offer
Negative Experience
Average Interview

Other Interview Reviews for Charles Schwab

  1.  

    Broker Trainee Interview

    Anonymous Interview Candidate in Phoenix, AZ
    Anonymous Interview Candidate in Phoenix, AZ
    Application Details

    I applied online. The process took 7 weeksinterviewed at Charles Schwab in October 2011.

    Interview Details

    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
    • Describe when a superviser criticized you and what did you do.   View Answer
    No Offer
    Negative Experience
    Average Interview
  2. 2 people found this helpful  

    Broker Trainee Interview

    Anonymous Interview Candidate in Englewood, CO
    Anonymous Interview Candidate in Englewood, CO
    Application Details

    The process took 3 weeksinterviewed at Charles Schwab in September 2011.

    Interview Details

    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
    • What was a time you went above and beyond a customer's expectations?   View Answer
    • What did you do when a coworker/teammate was struggling, what was the outcome?   Answer Question
    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.
    Accepted Offer
    Positive Experience
    Average Interview
  3.  

    Broker Trainee Interview

    Anonymous Interview Candidate in Austin, TX
    Anonymous Interview Candidate in Austin, TX
    Application Details

    The process took 3+ weeksinterviewed at Charles Schwab in July 2011.

    Interview Details

    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
    • Tell me a time when you received negative feedback that made you unhappy and how did you react?   Answer Question
    • What is a past time you went above and beyond duties?   Answer Question
    • Tell me about a time when you had to deal with a difficult client.   Answer Question
    No Offer
    Negative Experience
    Easy Interview
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  5. 1 person found this helpful  

    Broker Trainee Interview

    Anonymous Interview Candidate in Englewood, CO
    Anonymous Interview Candidate in Englewood, CO
    Application Details

    I applied online. The process took 2 weeksinterviewed at Charles Schwab in May 2011.

    Interview Details

    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
    • What is the most difficult work related problem you have encountered and how did you handle it?   Answer Question
    Accepted Offer
    Positive Experience
    Easy Interview
  6.  

    Broker Trainee Interview

    Anonymous Interview Candidate in Phoenix, AZ
    Anonymous Interview Candidate in Phoenix, AZ
    Application Details

    The process took 3 weeksinterviewed at Charles Schwab in March 2011.

    Interview Details

    I felt they were real unorganized during the whole process. I've had my interview rescheduled numerous times, and they never called back when they said they would. I was very frustrated, and after they said they would call within three days after my final interview... I was excited. Two weeks later they phoned offering me the job, and I decided to take another option.

    Interview Questions
    No Offer
    Negative Experience
    Average Interview
  7. 1 person found this helpful  

    Broker Trainee Interview

    Anonymous Interview Candidate in Indianapolis, IN
    Anonymous Interview Candidate in Indianapolis, IN
    Application Details

    The process took 2 weeksinterviewed at Charles Schwab in February 2011.

    Interview Details

    I applied online for the broker trainee program. I received an email to complete an assessment the next day. A few days later I received an email asking for my most recent resume and cover letter. The next week I had a brief telephone interview which seemed to go well. I was advised I would receive an email in a few days if the recruiter wanted to schedule an interview. I did receive an email but it stated that I was not being considered for the program at this time. I was asked in my phone interview why would I want to work for Charles Schwab and my advice would be to really do some research on the company before that phone interview to be well prepared to speak to that.

    Interview Questions
    No Offer
    Neutral Experience
    Average Interview
  8. 1 person found this helpful  

    Broker Trainee Interview

    Anonymous Interview Candidate in Englewood, CO
    Anonymous Interview Candidate in Englewood, CO
    Application Details

    The process took 2+ monthsinterviewed at Charles Schwab in February 2011.

    Interview Details

    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.
    Accepted Offer
    Positive Experience
    Difficult Interview
  9. 1 person found this helpful  

    Broker Trainee Interview

    Anonymous Interview Candidate in Indianapolis, IN
    Anonymous Interview Candidate in Indianapolis, IN
    Application Details

    I applied online. The process took 2+ monthsinterviewed at Charles Schwab in November 2010.

    Interview Details

    I applied online, then filled out the online assessment. I then received a phone call from a woman for a brief, five-minute interview. She asked me about how I had heard about the company, what I knew about them, and why I wanted to enter the Broker Trainee Program. During this phone call, we scheduled a 45-minute phone interview.

    The 45-minute interview was much more in-depth. We discussed my background, and discussed further my interest in the company and the position. It seemed to go well and, soon after, I received an email asking me to come in to perform a computerized assessment.

    The assessment took nearly an hour, and asked a number of basic math questions. They were almost entirely based around arithmatic word problems.

    Finally, I received a call to schedule an in-person interview. Two managers met me at the northside Indianapolis office. They were very pleasant and put me at ease, and we talked for just over an hour. They then took me on a tour of the facility. Although I was confident that the interview went well, I received an email about a week later that I had not been selected.

    Despite not being chosen, the process was excellent. Everyone was warm and professional, and seemed to work hard to put me at ease. I still think Charles Schwab would be a great company to work for, and recently applied for the broker trainee program again when it opened up.

    Interview Questions
    • The primary topic in all of our interviews was customer service. Everyone I spoke to emphasized that customer service was really the focus of the company and the position.   View Answer
    No Offer
    Positive Experience
    Average Interview
  10. 3 people found this helpful  

    Broker Trainee Interview

    Anonymous Interview Candidate in Indianapolis, IN
    Anonymous Interview Candidate in Indianapolis, IN
    Application Details

    I applied online. The process took 2 weeksinterviewed at Charles Schwab in August 2010.

    Interview Details

    I had applied initially online a few months prior, and had not gotten an interview. After a few months, I reapplied, significantly revising my application to better describe myself and my passion for the position. A week after resubmitting my application, I received a phone call to sett up an initial phone screening (less than 1/2 hour). Upon completion of the phone screening, I was scheduled for a longer phone interview (Maybe 45 minutes). Then I attended a presentation about the position, and took a qualifying examination (some type of SIMFA exam, which lasted about 2 hours). After successfully passing the exam, I was scheduled for an in-person interview with two hiring managers. I was offered the position, which I immediately accepted. Throughout the process, I was asked behavioral-type interview questions, and talked about both how my past experiences and current passions made me suitable for the position. I recommend doing some research on the company before the first phone screening, and throughout the process, as they do ask questions to determine if you understand what the company does and how you will fit into the company's overall purpose. I got the sense that this company spends a lot of time trying to make sure their employees are a great fit, as they end up investing a lot of time and resources on training and employee satisfaction once hired. Overall, it felt mutually beneficial, and I learned a lot about the company through the process, so by the time my offer came through I was sure I really wanted to work for the company.

    Interview Questions
    • Please describe some negative feedback you received, and how you responded to it.   Answer Question
    • Please describe a time you went above and beyond your job requirements.   Answer Question
    • Please describe the mission and values of the company.   View Answer
    Negotiation Details
    The broker trainee program had a posted salary, which I did not perceive as negotiable. They ask several times throughout the process if I was aware of the posted salary and found it acceptable, so by the time my offer came through, it did not feel like negotiation was possible.
    Accepted Offer
    Positive Experience
    Difficult Interview

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