Charles Schwab Reviews in Denver, CO

Updated October 22, 2014
Updated October 22, 2014
876 Reviews
3.2
876 Reviews
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Charles Schwab President and Chief Executive Officer Walt Bettinger II
Walt Bettinger II
525 Ratings

Review Highlights

Pros
  • It does allow for a good work/life balance which was very important to me (in 76 reviews)

  • good benefits especially Sabbath every five years (in 57 reviews)


Cons
  • Not much room for growth in Indy unless you want to stay in a call center (in 45 reviews)

  • There are very few woman and people of color in middle and senior management (in 25 reviews)

More Highlights

77 Employee Reviews Back to all reviews

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  1.  

    Solid company with a great future

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

    I have been working at Charles Schwab full-time (less than an year)

    Pros

    For someone starting off in the financial sector (especially as a new career - my last career was in theatre), this is the perfect place to work. Schedules are fixed and predictable, with overtime available if you want the extra income. There's a great work/life balance and a family-first culture, so if you need that sick day (mental health day), then take it. Managers are available for questions, consistent feedback, 1-on-1's and general coaching. We're also getting a brand new office in SE Denver - career growth opportunities are many and varied. Strong company values and a client-first attitude lead to rewarding interactions (people actually like calling us). Oh, and the yearly bonus is great too.

    PS - If you're driven and ambitious (you have to be both), there are great opportunities available. It is hard work, you start off in the call center and you'll be there for at LEAST two years. However, if you want to get into a branch as an AFC, you have to excel in your current role and network with other successful people.

    Cons

    The salary isn't great. Other firms pay nominally better and although I think the culture makes up for it, upper management needs to consider raising the base rate. Ten-hour shifts can be long and tax season is exhausting. The current training materials are inadequate and I wish we could move faster with website improvements (the password system - come on).

    Advice to ManagementAdvice

    There needs to be a clear path to success - we all know CSS is the feeder for the rest of the company, but if you expect people to stick to Schwab you need to give them a roadmap with clear directions and metrics.

    Recommends
    Positive Outlook
    Approves of CEO
  2. 3 people found this helpful  

    Cheat you out of your bonus after you kill yourself for the place.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - High Networth Trader in Englewood, CO
    Current Employee - High Networth Trader in Englewood, CO

    I have been working at Charles Schwab full-time (more than 8 years)

    Pros

    Great place for clients, lots of research material, larger number of products.

    Cons

    Severe micromanaging. They monitor how many steps you take, the number of breaths per day, number of heartbeats, how long it takes to wipe your a&&. You get the picture. They have a stat for everything.

    Advice to ManagementAdvice

    Instead of pitting everyone against each other, how about cooperation? This pit bull environment makes everyone miserable and un-trusting.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3. 1 person found this helpful  

    Great company going through a lot of changes. Very good culture in terms of professionalism.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Analyst in Denver, CO
    Current Employee - Business Analyst in Denver, CO

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

    Pros

    Good pay, good benefits. Very good culture in terms of professionalism. Great life/work balance. Encourage growth in current employees.

    Cons

    Struggling with working across stove piped organizations. Needs to be more open from expertise coming from the outside and more up-to-date processes. Benefits so good that people tend to be too safe and not make the right choices to move the company forward. Many managers do not have the primary skill-set of the group they are supervising.

    Advice to ManagementAdvice

    Standardize development processes to enable easier work across domains

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

    Solid Culture. Amazing middle management, not so much at the top.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President Financial Consultant in Englewood, CO
    Former Employee - Vice President Financial Consultant in Englewood, CO

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

    Pros

    Best direct manager I've had in my life.
    Surrounded by competent peers.

    Cons

    They're trying to be both a discount broker and full service firm at the same time. It's confusing to clients and to employees.

    Advice to ManagementAdvice

    Bring Carney back and listen to him.

    Recommends
    Neutral Outlook
    Disapproves of CEO
  6. 1 person found this helpful  

    Noone cares about their employees. Just put in the hours and do the same thing the next day.

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

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

    Pros

    great office, food, people, different shifts

    Cons

    huge turnover, call center where you take 100 plus calls a day every day

    Advice to ManagementAdvice

    promote people faster

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7. 3 people found this helpful  

    I thank God every day that I no longer work at Schwab

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Client Banking Specialist in Denver, CO
    Former Employee - Client Banking Specialist in Denver, CO

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

    Pros

    It's a good company for people to get into the financial industry.

    Cons

    Micromanagement unlike anything I've ever seen. Demoralizing work.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  8. 3 people found this helpful  

    Former Sr. Manager

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Manager SPC in Denver, CO
    Former Employee - Senior Manager SPC in Denver, CO

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

    Pros

    The people, co-workers are very talented, and life balance.

    Cons

    Communication to the feild, the bonus structure, and moving goals.

    Advice to ManagementAdvice

    Keep communicating the vision, mission, and strategy to the field, and be fair with the bonus payout.

    Recommends
    Positive Outlook
    Approves of CEO
  9. 9 people found this helpful  

    Overall an okay company, but I probably wont be here forever.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Manager in Denver, CO
    Current Employee - Senior Manager in Denver, CO

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

    Pros

    Excellent employee services. Seriously, the best I have ever seen. Free access to a Financial Consultant, discounts on trading fees, and a generous Employee Stock Purchase Plan. Honestly, the 401K isn’t bad either. Match up to 5%, good funds to select from, and a discounted managed portfolio for those that want it. Ok pay, ok salary increases (3% in 2014), ok profit sharing bonus.

    Large and stable company that you know is going to be around for the long haul.

    Cons

    Frankly, I have to agree with most of the other comments I am seeing on here. Schwab is a very conservative organization that is slow to change and improve. Seriously, I am still using Windows XP and Office 2003.

    I also agree with the comments regarding management. It appears to me that the people promoted to directors and VPs aren’t really the best candidates, but have been the ones that stayed around the longest. Most don’t appear to have any new fresh ideas of how to improve the “client experience.” They also aren’t very realistic on their expectations and timelines they set for the executives. I saw one comment about how managers shield the executives from what is really going on and I could not agree more. I will also add that the directors and VPs that really have fresh new ideas tend to get pushed out fairly quickly. I think a lot of the VPs and even the managing directors really set up some of the employees for failure.

    I also completely agree with the negative comments regarding the healthcare benefits. I was very frustrated with this change and it has caused me to look for employment elsewhere. I also completely agree with the feedback regarding the possible advancements.

    It definitely appears to me that Schwab has implemented several tactics meant to keep employees even those that might want to leave, which I think leads to some of the negative comments about the workforce. For example, Schwab doesn’t contribute to your 401K regularly it’s only once per year in February. Also, the bonus (really more of a profit sharing bonus) is only paid annually in March. The profit sharing bonus I get, but the 401K contributions really bother me.

    I would also like to highlight one of the most confusing elements at Schwab. I completely agree with the comments about Schwab being very client focused. Seriously, they will bend over backwards and even provide client experience gestures (money) to people that complain. However, the directors and VPs just don’t seem to even think about ways to improve the client experience in a practical sense. I could list 20 or so things that as a client just drive me nuts that Schwab could fix really easily, but they don’t.

    Advice to ManagementAdvice

    There is a significant difference between being busy and being productive. All of the directors and VPs I work with appear to be super busy all of the time, but never seem to get anything done.

    Also, be realistic about your expectations. Some of the town halls and other presentation I have attend make me think you really expect total loans to just take off by sending out spam emails…really? Is that really realistic?

    There is also a significant difference between leaders and managers. Just because someone appears to be really good at their job does not automatically qualify them for management.

    Lastly, there is so much more to the "client experience" than how you resolve complaints. Why not make the process just easier for the client from the get go? There are always going to be exceptions and things that just don't work right, but seriously, some of the smallest changes could really make a big improvement.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  10. 3 people found this helpful  

    Great company, very cheap.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Manager in Denver, CO
    Current Employee - Senior Manager in Denver, CO

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

    Pros

    Schwab has a strong culture and initially attracts good talent with their "anti-broker" culture. The firm focuses on their culture greatly and communication is generally pretty good. Management is experienced, yet very conservative.

    Cons

    Schwab needs to recognize potential in employees and pay for talent. There is quite a bit of turnover from talented people. Their conservative nature focuses on protecting the brand, sometimes forcing them to look past opportunity.

    Advice to ManagementAdvice

    Try something different. Understand that the market is changing and employees are looking to be a part of something, not a cog in the wheel. I don't see that Schwab has a dedication to understanding how employees get engaged, they merely care about the engagement score.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11. 2 people found this helpful  

    You are just a cog in a big machine

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Staff Technology Solutions in Denver, CO
    Current Employee - Senior Staff Technology Solutions in Denver, CO

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

    Pros

    Company is stable, honest and treats customers very well. The business side of the house has the customer service aspect of the industry figured out.

    Cons

    It is a shame employees don't get the same treatment customers do. You are just a cog in a big machine and unless you have your nose up the right rear end your chances of a promotion are non existent. Forget about being promoted based on merit as all advancement is competitive between internal/external candidates. Trying to move to anther role in a different department is a nearly gargantuan task. Most IT jobs being moved to Texas over time. Highly skilled long-term employees leaving and being replaced with lower skilled workers at less pay. Moral is dropping by the day in IT as people in SF being forced out as company shifts jobs to AZ and TX.

    Advice to ManagementAdvice

    Kick out most of the leaders on the technology side and replace them as the left hand does not know what the right hand is doing. Stop letting the company be run by auditors and grow some balls.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

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