Charles Schwab Reviews

Updated March 21, 2015
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129 Employee Reviews

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  1. Great place to learn.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Operations Associate in Phoenix, AZ
    Former Employee - Operations Associate in Phoenix, AZ

    I worked at Charles Schwab (more than 3 years)

    Pros

    Company has a good reputation. Excellent place to learn the industry. Standard benefits.

    Cons

    The pay could be better, the raises are really small. They say they want to invest in employees but the pay and bonuses do not reflect that. The newer employers work harder than the tenured employees, which can lead to burnout. It is the same people that stay in the same job for years.

    Recommends
    Positive Outlook
    No opinion of CEO
  2. Excellent culture with plenty of growth opportunities

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Registered Representative in Phoenix, AZ
    Former Employee - Registered Representative in Phoenix, AZ

    I worked at Charles Schwab full-time (more than a year)

    Pros

    Pick your schedule from plenty of options. Excellent 401k match. Opportunities to take on more responsibilities just by approaching your manager and showing initiative. Tell your manager what department you want to eventually be in and they'll put you in touch with the right people.

    Cons

    At the time, the compensation was on the low end of the industry average, but they have since re-worked the pay scale.

    Advice to ManagementAdvice

    Keep up the employee development.

    Recommends
    Positive Outlook
    Approves of CEO
  3. 1 person found this helpful

    Educational

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Registered Representative in Phoenix, AZ
    Current Employee - Registered Representative in Phoenix, AZ

    I have been working at Charles Schwab full-time (more than a year)

    Pros

    Job responsibilities clearly defined, great training

    Cons

    Few advancement opportunities and increased responsibilities and expectations without added compensation.

    Advice to ManagementAdvice

    More opportunity for advancement and care for employees

    Recommends
    Positive Outlook
    Approves of CEO
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  5. 1 person found this helpful

    Great place to work and spend a lifetime career at!

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

    I worked at Charles Schwab full-time (more than 5 years)

    Pros

    Wonderful corporate culture, flexible paid time off, mgmt was interested in employee development and advancement.

    Cons

    NONE! This is only a former employee because my husband and I moved to a place where Schwab wasn't. :(

    Advice to ManagementAdvice

    Keep up the good work. Open door policies with an emphasis on employee development is what made me love this place.

    Recommends
    Positive Outlook
    Approves of CEO
  6. 4 people found this helpful

    Started out good but lost it's lustre fast.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Staff Systems Engineer in Phoenix, AZ
    Current Employee - Senior Staff Systems Engineer in Phoenix, AZ

    I have been working at Charles Schwab full-time (more than 10 years)

    Pros

    Good benefits, ok pay, most people are good to work with

    Cons

    Doesn't have a good work/life balance, To much management, a lot of employees are very apathetic

    Advice to ManagementAdvice

    Get rid of some

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 1 person found this helpful

    Good Folks, Terrible Management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Investment Advisor in Phoenix, AZ
    Current Employee - Investment Advisor in Phoenix, AZ

    I have been working at Charles Schwab full-time (more than 5 years)

    Pros

    The staff at Schwab are really really good and believe in helping the clients

    Cons

    Management is so poorly trained, its not their fault, but Schwab as a company puts them in a position to fail.

    Recommends
    Neutral Outlook
    Approves of CEO
  8. 3 people found this helpful

    It's a job, not a career

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Registered Representative in Phoenix, AZ
    Current Employee - Registered Representative in Phoenix, AZ

    I have been working at Charles Schwab full-time (more than 5 years)

    Pros

    The benefits are pretty good. Four week paid sabbatical every five years is amazing. The training to get your Series 7 and 63 is pretty good.

    Cons

    Office politics is ridiculous. Promoting the person the boss likes best rather than the best person for the job. It is a Call Center environment. The salary is low compared to the competition. You have lots of opportunity to move within the company if you want to move laterally.

    Advice to ManagementAdvice

    Do the right thing for the client. That may not be a managed account.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  9. 2 people found this helpful

    A company that employees people on the lower end of the talent spectrum, for jobs that aren't rewarding.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Registered Representative in Phoenix, AZ
    Current Employee - Registered Representative in Phoenix, AZ

    I have been working at Charles Schwab full-time (more than 3 years)

    Pros

    Low work load, simple tasks, not much pressure to do much of anything.

    Cons

    Low pay, very few opportunities, low level management positions being filled with 25+ year employees who aren't interesting in developing new employees.

    Advice to ManagementAdvice

    Cut the deadweight from the company.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10. 8 people found this helpful

    A complete and utter let down from day 1, and it only got worse. Worst place Ive ever worked.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Registered Representative in Phoenix, AZ
    Former Employee - Registered Representative in Phoenix, AZ

    I worked at Charles Schwab full-time (more than a year)

    Pros

    Good health insurance
    There are some good/genuine people that work there.

    Cons

    I had such high hopes going to work here. I really thought it would be a great company to work for. I could not of been more wrong. I worked in their Service Center (Phoenix) for a year and a half.
     If you're Series 7 licensed I recommend AVOIDING this position at all costs.

    -It's all about the company. Not the employee. Youre just a robot/monkey here.

    -Micro-managing at a level I've never seen. So many stats that you have to try to "adhere" to its unbelievable. Including one that requires you to hang up FIRST from every call you're on 80% of the time. If you're lacking in any stats believe me you will be spoken to. You'll feel like you're 12.

    -The most unrealistic and quite frankly ridiculous "coaching" from their people that monitor your phone calls. Some of which have never worked a customer service/phone job in their life.

    -Every meeting was about something new you were going to have to start doing, or something they were taking away from you....or something the "team" needed to improve. Never was there anything that the company did for the employee during my time there.

    -Misleading interviews and training. You're told one thing, then when you get put on the job, you're suddenly notified that there's a whole other aspect you were never informed of (they call them "opportunities" but for the most part it's about bringing in new assets/sales, which you are not rewarded for as you would be at some other firms. They say it affects your bonus, but that's a whole other story.

    -Red tape everywhere. Get a bad score from a client that was undeserved? Don't even think about getting it removed from your record. They'll say it has to go to this manager, then that manager, then get approved. It won't. I saw multiple cases.

    -Bonuses: I was told they averaged one amount when I interviewed, and that number seemed to get lower during each conversation I had about it from that point on.

    -Don't even think of getting a day off work if that days not available. 0 flexibliity...If you call in sick, or you're running a little late, that's a negative and goes against you.

    -Negativity is rife. They will pump you up and be positive all through training. Once you get on the floor you realize most of the people there hate their job and gossip abounds everywhere. They'll tell you how lucky you are that you got hired and that they turn a lot of people away, but the reality is they have a job posting out there almost all the time which should tell you what a revolving door position it is....and they will hire just about anyone.

    Advice to ManagementAdvice

    1. Take care of your employees better. Do things for them. Help make their job easier, not harder and more difficult to do.
    2. Tell your Directors (who literally sit 10 feet away) to go out on the floor and introduce themselves to all the hard working employees. Maybe tell them you appreciate the job they do? Do something for them? Other than a silly email that they copy paste and just say's "Great job!"
    3. How about asking your employees "How can we do better? What would make your job better?"
    4. It never fails to amaze me that big companies can't grasp this simple fact: Take care of your employees, and they will take care of you.
    5. Treat your large staff of SC workers with more respect. Treat them as the professionals you hired them as. Not as slave workers.. You're not exactly paying top dollar, but you sure want hold employees to the highest level of performance. There are other things as important as your trillion dollar goals (which everyone's heard enough about)

    Doesn't Recommend
    No opinion of CEO
  11. Growth if you're into sales

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

    I have been working at Charles Schwab full-time (more than 3 years)

    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.

    Cons

    Salaries are not as competitive. There's a lot of "inner circle" politics. Some managers are pretty absent. If you're not a salesy person sometimes options are limited.

    Recommends
    Positive Outlook
    Approves of CEO

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