Charles Schwab Reviews

Updated July 1, 2015
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140 Employee Reviews

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  1. Helpful (9)

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

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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)

    Doesn't Recommend
    No opinion of CEO
    Doesn't Recommend
    No opinion of CEO

    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 Management

    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)


  2. Growth if you're into sales

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    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.


  3. Helpful (1)

    It is what you make of it.

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

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Endless opportunities if you can perform your core job.

    Cons

    Leadership does not offer a lot of support when trying to advance.

    Advice to Management

    Create and prioritize a leadership development program for employees looking to do more for the company. There is a lot more interest in development then there are leaders looking to develop.


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  5. Helpful (1)

    Employees are nothing special here

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

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

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

    Pros

    They follow industry standard procedures and protocols

    Cons

    Employees are treated as they they are easily replaceable. The employees are more like sheep. Don't expect move up in ranks.


  6. Helpful (1)

    Good place to work if you can handle a call center environment

    Current Employee - Registered Representative in Phoenix, AZ
    Current Employee - Registered Representative in Phoenix, AZ

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

    Pros

    Emphasis on doing the right thing for the client, so no pressure to push clients into the wrong investments to make quotas or incentives.

    Cons

    Time away from the phones is minimal, so if that kind of work is manageable for you you'll enjoy it.


  7. Helpful (6)

    Not the same company, now cookie cutter just like rest of the call center financial firms in Phoenix.

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

    I worked at Charles Schwab full-time (More than 10 years)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    Their insatiable appetite to make decisions based on the bottom line and low level managers being low level across the board forced me to find myself and find a much better way.

    Cons

    Too many to list if you have a soul. Any time spent here will certainly compromise anything positive that you believe in.

    Advice to Management

    Get a clue....bunch of clowns....people are not stupid or stuck. Leveraging poor job market scare tactics to have their way and think they can make all the rules. Stop hiring people to post all the positive comments on Glassdoor. I've been on the inside, I know the truth....it's a joke but only funny in hindsight. Very sad for the many people that I know still there.


  8. Helpful (3)

    Participant Services is an awful department to work in at an otherwise great company.

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

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

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    great benefits, overall good company to work for.

    Cons

    Your overall work experience can vary greatly depending upon which department you work within. Participant Services is a very difficult role to work within because you are valued only as a statistic. This being said, morale is very low and most employees within this department are just looking for a way out.

    Advice to Management

    Stop seeing your employees as a statistic.


  9. Helpful (1)

    It's a great company

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

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

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Great teamwork. You'll get a lot of recognition for a job well done. Very good about work/life balance. They empower you to do what's right for the client.

    Cons

    Low pay; have be on the phones for a while before you can move into another area. A little bit like a sweatshop.


  10. Helpful (2)

    Unfair and biased toward anybody with a "disability" regardless as to how bs it is

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

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

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    Pros

    it pays more than unemployment.
    it's centrally located
    fair vacation/sick time and managers are flexible if you have an appointment

    Cons

    If you're a hard worker, you will work twice as hard as the lazy coworkers for the same pay. The compensation isn't worth the stress.

    Advice to Management

    Get your head out of your butts. If 20 coworkers are complaining about one coworker, don't fire the hard working employees and keep the one lazy employee that everybody is complaining about.


  11. Its a good place to start you need to advance fast or move on.

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

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

    Recommends
    Neutral Outlook
    Disapproves of CEO
    Recommends
    Neutral Outlook
    Disapproves of CEO

    Pros

    The base pay is in the 30's. Schwab has good business fundamentals. (They do not mislead the clients in to bad products) fairness for men, women and those in between.
    If you work hard and stay ozzing positivity you will advance. On the sales side you can make 80-120k. about the same for managers. Almost 100% of the employees are great people. They execute operations better than any other brokerage! Very efficient!!!!

    Cons

    If you have a micro manager the job can be a real un-pleasent grind.
    The new CEO Walt is a real penny pincher. He has fired ( found technicalities to lay off) older employees to hire the younger for the cost savings. In Phoenix the labor board filed a law suit for this. Nothing new for a fortune 500 company. It makes me sad (because I used to Love SCHWAB) that the fairness and ethics only apply to the clients and not the employees.

    Advice to Management

    I feel slighted for the other quality senior people that were downsized than myself. People in their 50-60's that may not recover as well. I would like to see a cost effective way for the front line employees to get a fair share of the profits to where if they put in 10 years or so the could retire or mini-retire. Be owners in the business motivated to take care of clients and the business success.



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