Charles Schwab Interview Questions & Reviews in Phoenix, AZ
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Registered Representative Interview (Negative Experience; Average Interview)
I applied through a recruiter and the process took 4+ weeks - interviewed at Charles Schwab.
Interview Details – Non transparent the entire time.
Interview Question – Name a time when you disagreed with your manager and how changed their opinion. Answer Question
Negotiation Details – Take it or leave it.
Broker Trainee Interview (Positive Experience; Average Interview)
I applied online and the process took 2 weeks - interviewed at Charles Schwab in January 2010.
Interview Details – Be aware that they will hire you but then rake your background over the coals. If you have a traffic tickeoe anything. You will need to have this information for compliance. Instead of being professional and asking you for this information before you accept the job. You are allowed to leave your previous job and be stressed during training with getting documents regarding even the most minor leagl issues.
Interview Question – None. They asked about my reading habits. What was the last book you read and what impact it had on you. View Answer
Negotiation Details – There was not really a negotiation, they offered 31000.00 it was the height of the recession I accepted it.
Financial Advisor Interview (Negative Experience; Average Interview)
I interviewed at Charles Schwab in October 2012.
Interview Details – The process included a brief screening interview, followed by a 30-minute phone interview by a HR/Talent recruiter. After the two phone interviews an in-person interview was scheduled with two managers. I was interviewed separately by each manger. The Employer called back and I was invited for a second in-person interview with a team member. After investing a lot of time in the interview process I received no follow up from Schwab. I emailed several times to the recruiter and was told that the talent department was checking on status and would get back to me. About one month later I received a boiler-plate email stating I had not been selected for the position. Communication was very poor after the interview process and disappointed in the lack of professional courtesy.
Interview Question – The questions were very basic and the STAR appraoch was used. Providing a narrative to a specific situation or task you had to accomplish. Answer Question
Cost Basis Analyst Interview (Positive Experience; Average Interview)
I applied through college or university and the process took 6 days - interviewed at Charles Schwab in October 2012.
Interview Details – This is a position that you get through a contracting company. Adecco is a temp hire company that interviews you first before you go on to interview with Charles Schwab managers. You usually sign a 7 to 9 month temp contract and may get hired at the end of that process. About 70% of Schwab hires come from temp positions.
Interview Question – If they like you they will generally not ask too many questions. Answer Question
Negotiation Details – The negotiation phase is with the contracting company.
Client Service Representative Interview (Neutral Experience; Easy Interview)
I applied online and the process took 3 months - interviewed at Charles Schwab in August 2012.
Interview Details – They do not accept resumes. You must initially apply through their website. I got an automated response to fill out an evaluation questionnaire. This is just a bunch of psychological questions. A week or so later, I received an email from an actual person about scheduling a 5 minute phone interview. That interview was mostly questions about the position (making sure I knew what I was applying for). Immediately after the 5 minute interview I was told that I had passed, and to wait for an email.
The next interview was with a different person. It was a 40 minute phone interview. It took a few weeks for them to get around to actually scheduling it, and I thought they had changed their mind. Just keep checking your email, and they will eventually send you something.
"Why do you want to work with Charles Schwab?"
"Describe a time when you failed."
"Where do you see yourself in 5 years?"
"Why do you want to leave your current job?"
and so on. No huge surprises. Just stay positive and flatter them.
After the second phone interview, I had to wait a few more weeks for a decision. I was then emailed by another person that I had passed, and they wanted to do an in-person interview with 2 hiring managers. Curtis Crawford was in charge of scheduling this interview, and if you are applying at the Phoenix branch, I suggest keeping your phone close at all times, because he is very hard to get a hold of when you call back. I eventually just showed up in person and had the secretary call him. This took care of it, and the final interview was scheduled.
In-person interview: All behavioral questions. So many behavioral questions. Just have some ideas for stories to tell. They have sheets with questions on them, but they can pick any questions off the list and also make up their own. If you're quick on your feet, no problem. At the end, there is time for you to ask questions of them. I suggest that you do, because they seemed to like that I did. A week or so after this interview, I got a call that I had passed, and pending a background and credit check, I would have the position.
Then I had to fill out an actual application and a background check form. This is where my problem came. In the application paperwork, it is made very clear that the company is not allowed to discriminate against sealed court cases, but they still want you to be open about them. I told them about a felony that I went to court for, plead guilty to (but was not convicted), and had sealed when I was 20 (7 years ago). I soon got an email and phone call about the sealed case. I answered a lot of questions about it, and was told they didn't need any more information. Then I immediately received an email explaining that they were not going to offer me the position. My references were not called, my past employers not contacted, nothing. I am frustrated that after months of waiting and interviewing, I ended up being discriminated against for something the company was legally not allowed to even consider. I would recommend to anyone with sealed court cases not mention them on your application.
All in all, it's not a hard interview process for someone with good storytelling abilities. It is very drawn out, and the behavioral questions get tiring.
Interview Question – Describe a time when you used creative reasoning to solve a problem with an upset client. Answer Question
Broker Trainee Interview (Positive Experience; Difficult Interview)
I applied online and the process took 2 months - interviewed at Charles Schwab.
Interview Details – The process took approximately 1.5 months. I found out about the position through my university's career services. After applying via Schwab's website, they will send you a link to assess your personality. A week later, I received an e-mail from a coordinator to set up a brief (3-5 minutes) phone interview. She wanted to know what I knew about the company and position and why I was interested in applying. You will know if you'll move on to the next round of interview because they will asked you to schedule a 40-50 minutes interview immediately after. I interviewed with the company's recruiter the following week. Be sure to know all you can about the company and the position. I did research by looking at their website and what other people are saying about them. I also looked at how their customers are rating them and what kind of complaints they have about the company's services/products so I can formulate appropriate questions for the recruiter to show that I'm well prepared. Also, study your resume if you haven't already done so because you will be asked plenty of questions about your education and previous experience. KNOW HOW TO ANSWER BEHAVIORAL INTERVIEW QUESTIONS (STAR method) and be prepared for follow-up questions. Have 2-3 questions to ask the recruiter! If you interview successfully, the recruiter will ask you to come into their office to take the SIFMA (a two part assessment which will gauge how likely you are to pass the Series 7/63 exams), which I did a week later. I was e-mailed a day later saying that I had passed. The recruiter called me the day after to set up an interview with 2 hiring managers. I interviewed the week after. I prepped by looking at the company's website (again), I Googled a SWOT analysis of Schwab to see what their strengths and weaknesses are so I am able to discuss the future direction of the company if necessary (this shows them that you are looking to work for them long-term even if you don't plan to). I met with a seasoned manager and a new manager who was promoted not long prior. They first asked me what I knew about the company and why I wanted to work with them. Then, for the next 30-45 minutes was spent on behavioral-style interview questions. They have a list of questions to pick from. Be sure to have specific examples "of a time when...." questions and what YOU did as a result. Always say "I" when answering these questions. Emphasize your ability to communicate and the love to help others as this is what they want in a potential employee. I turned the interview around by asking them questions about the company and position. A day later, the recruiter called to let me know that the managers would like to move onto the next process which is a background check. It takes about 5 business days. Everything checked out and I was offered the position.
I would recommend you go through all the Broker Trainee interviews posted on here and try to answer them as the majority were asked during the interviews. If you feel extra nervous about the interview, record yourself as if you were being interviewed. This will help you pick up any bad interview habits that you might not notice. Also, it will allow you to practice and assess yourself. Try being interviewed by friends, professor, or colleagues. The more prepared you are the better.
Interview Question – Phone/Person: Why Schwab?
Phone/Person: What do you know about the company?
Phone: Name a time you had to go above and beyond to help a customer.
Phone: Tell me a little more about your [experience at the last company].
Person: Tell me about a time when you had to get a group to to cooperate with what you are doing. Tell me about a time when you had to get a group, outside of your own, to cooperate. Tell me about a time when you had to explain a technical term to someone who was not familiar with it. Tell me about a time when you had to deal with a difficult customer and how you dealt with it.
SIFMA: I don't remember the exact questions, but be sure to study logic questions (multiple choice answers with a) necessarily true b) necessarily true but not false c) not enough info given [never the case] d) necessarily false but not true e) necessarily false) and financial-related math questions (stock split, return rates, rate comparisons, percentage, etc). Yes, you are required to add, subtract, multiply, and divide by hand. Approximately 26 logic questions (30 minutes given) and 27 math questions (1 hour given). View Answers (2)
Negotiation Details – The offer was non-negotiable. It was made clear from your initial application that the salary is "take it or leave it."
Fixed Income Specialist Interview (Neutral Experience; Average Interview)
I applied through a recruiter and the process took 2 weeks - interviewed at Charles Schwab in February 2012.
Interview Details – Internal candidate.application filled out. Management of department interview. Decision made
Interview Question – For the fixed income department questions more about ability to get along with others with some questions about fixed income terms & definitions about products. Answer Question
Negotiation Details – Study the industry averages and your years in the industry or job description.GET IT IN WRITING before agreeing to anything.
Broker Trainee Interview (Positive Experience; Difficult Interview)
I applied online and the process took 2 days - interviewed at Charles Schwab in March 2012.
Interview Details – 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.
- If 20 employees of XYZ Company expect to receive a bonus for reaching 90% of the company goal and XYZ Company is not forecasted to make goal this year, would you say that... View Answer
- If Client A purchased 40 shares of stock at $30 per share and then sold 30% of the shares what would the profit be in the first quarter if the shares had increased in value by 12%? View Answers (2)
Retirement & Estate Service Specialist Interview (Neutral Experience; Difficult Interview)
The process took 2 weeks - interviewed at Charles Schwab in February 2012.
Interview Details – Have had the same experience of most people. Went through a lengthy interview process simply to get a basic form letter rejection without reasoning. Strange, because I am Series 7 & Series 66 licensed, a ChFC, and have worked in the financial services industry for 14 years. It seems that during my in-person interview they had a negative attitude towards my former employer (kept talking about how much better Schwab was, and who knows, they may be but why bring that up) and discounted my previous experience saying that experience administering and acting as broker of record for various types of retirement plans "was not in my best interest".
Interview Question – Explain a time in which you were faced with sensitive clients who were upset with your allocation of assets. How did you explain your actions, and what was your demeanor while doing so? Answer Question
Relationship Specialist Interview (Positive Experience; Average Interview)
I applied online and the process took 2 weeks - interviewed at Charles Schwab in February 2012.
Interview Details – After having applied on-line for several positions within the organization, I had my first phone interview with a Schwab recruiter. It lasted around 30 minutes. I was told that it would be recommended that I go through second round of phone interviews.
Second interview was a positive experience lasting approximately 1 hour. Questions were behavioral and situational. I was told that I would be eocommended to go through 3rd phase of interview process...this would most likely be a panel interview with several hiring managers.
Received call in order to set up this interview....date has yet to be confirmed.
Interview Question – The only difficulty I experienced with regards to the interview questions was that it was over the phone. Face-to-face scenarios provide candidates with an opportunity to build rapport, and make that personal connection. View Answer
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Pros: “The culture is nice. People can be great. There's flexibility in hours. If you enjoy sales there are a lot of different directions you can further your career.” “The culture is nice. People can be great. There's flexibility in hours. If you enjoy sales there are a lot of different directions you can further your career.” – Full Review