Charles Schwab

www.schwab.com
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Charles Schwab Reviews in Phoenix, AZ

Updated March 4, 2015
Updated March 4, 2015
125 Reviews
3.5
125 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Charles Schwab President and Chief Executive Officer Walt Bettinger II
Walt Bettinger II
125 Ratings

Review Highlights

Pros
  • It does allow for a good work/life balance which was very important to me (in 80 reviews)

  • good benefits especially Sabbath every five years (in 59 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

125 Employee Reviews Back to all Reviews

Sort: Popular Rating Date
  1.  

    This is a good company, good benefits, too many layoffs though.

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

    I have been working at Charles Schwab

    Pros

    Benefits, environment, pay, people, location.

    Cons

    Too many layoffs when not really needed.

    Advice to ManagementAdvice

    layoffs hurt not only the employees and their families, but also the company image and reputation.

    Recommends
    Neutral Outlook
    No opinion of CEO
  2.  

    Schwabbies Rock!

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

    I have been working at Charles Schwab

    Pros

    True "family" environment, teams are supportive and focus on leveraging each other's strengths to accomplish tasks.

    Solid values but company still focuses on innovation.

    Pay is strong and bonus program gets stronger every year. Health are on par with industry.

    Cons

    No paid maternity leave like most FORTUNE 500 employers. 401k match could be higher.

    Advice to ManagementAdvice

    Focus on keeping total comp and benefits packages competitive.

    Recommends
    Positive Outlook
    Approves of CEO
  3. 4 people found this helpful  

    Great Client Focus, but handcuffed by the worst that "Human Resources" can dream up

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

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

    Pros

    A completely ethical, client-focused business practice geared toward providing unbiased financial help & advice to its clients. Clients compliment us for our openness and honesty, which helps with the feelings of job satisfaction. Health Plan was among the best until Obamacare forced the company to stop offering a "Cadillac Plan", but still provides good access to health care. Decent pay for a competent client phone services person. Four-week sabbatical every 5 years for employees is also an excellent benefit.

    Cons

    The company has gone way overboard with minutia thanks to "Human Resources" policy changes during past 10 or so years. One example is how they've crafted a mechanism by which they find ways to avoid paying bonuses to employees. It used to be that the company paid out a full bonus quarterly, depending upon the company's performance for the preceding business quarter. All employees were able to participate, and in a particularly good quarter, everybody felt a genuine feeling of achievement & reward for a job well done, which went light years towards fostering an environment that helped keep employee morale high. With the change fostered by the HR geniuses, the first three quarterly bonuses in the year are now considerably smaller amounts known as an "advance"; the fourth, paid out during the first quarter of the following year, is now a rigidly calculated, employee-performance-based amount, which the average front-line employee may or may not receive, depending upon whether you're in good graces with your immediate manager. The emphasis of whether employees fully participate in a corporate bonus plan has shifted from the company's performance to that of the individual employee. What used to be a fairly quick, efficient and concise quarterly review process when bonuses were disclosed has evolved into a minutia-laden process that now requires a 16-page document to explain why you might or might not get an annual bonus. The longer that document gets, the smaller your annual bonus is likely to be.

    And get this - if you leave the company prior to that annual "bonus" calculation, you get nothing, in spite of the effort you put in during the previous 12 months. The changes in the bonus plan payout implemented by HR have been front-loaded in favor the company at the expense of employees.

    So it should come as no surprise that, thanks to the implementation of Obamacare. employees who used to benefit from an outstanding health care plan - most able to enjoy the convenience of small co-pay instead of much larger co-insurance costs - now face a much larger portion of those costs. To its credit, the company has contributed up to $1000 annually to Health Savings Accounts for employees; whether that contribution continues remains to be seen. But in describing the changes to the company's Health Plan, one of the company's HR higher-ups mentioned that some employees may have "cash flow problems" as a result of the changes. Obviously, a guy with a 6-figure income has a different definition of what constitutes a "Cash Flow Problem" than the average front-line employee.

    And don't get me started on the invasion of our privacy in the world of e-mail, IM, and even outside social media use. Forget about passing jokes along to co-workers, unless you like putting your bonus, or even your job, at risk. HR-implemented policies in this regard will help keep employee morale in right in the toilet. Apparently, a sense of humor is not welcome in this type of HR-focused world.

    I'm baffled by a recent trend to hire managers for jobs in which they have no experience nor expertise. It gives off an appearance that higher-ups view managers as interchangeable pegs which they are then able to place in a variety of holes, whether appropriate or not. I see no benefit to employee morale from this type of policy. The team cohesiveness which once existed between team members and their manager - largely because the manager knew and understood every facet of the job faced by the front-line employee - is an important bond which helps keep an esprit de corps among the troops and has gone missing.

    Advice to ManagementAdvice

    Listen to your front-line employees. They're the ones who actually communicate with your client base, and they're very adept at telling us what they like about what we offer. If you consider how much customers liked discounted commissions, access to a wide range of no-fee mutual funds, and expanded access to these services via our Internet platform as the years rolled by, try to remember that they came to us because they liked what we offered them. They didn't come to us because we told them to like it - such as the disastrous implementation of a multiple-tiered, multiple fee-based account option forced upon clients back in 2004, which then expended employee capital in a lame defense of these poor policies (which wisely - and thankfully - were discontinued).

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
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  5.  

    Operations Specialist

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

    I worked at Charles Schwab

    Pros

    Good pay in a very affordable city, company provides the tools requires to do your job (technology and proprietary systems), nice locations in Arizona, two separate centers allowing for better commute.

    Cons

    Northern location is overcrowded, cafe is not reccomended.

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

    Screw your employees out of bonuses and raises while the Top 5 bathe in stock options, bonuses, raises and sick wealth.

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

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

    Pros

    Going to be hard to find 20 words but the only pro I can think of is the day one leaves.

    Cons

    Micromanagement, promises of bonuses that never arrive, meager cheapy the cheapskate raises (if any), drab sad employees who look suicidal. One big sweatshop. Every thing is measured, your breathing, your time on a call, your time off a call, your time taking a crap. Everything wrong with America right now exists here...greed at the top while the others starve.

    Advice to ManagementAdvice

    Realize that people are human, not slaves.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  7.  

    Great work atmosphere and a place to build a career.

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

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

    Pros

    Amazing management teams that will help you figure out a career path. Plenty of resources to take advantage of within your career.

    Cons

    18 month contract for customer service positions before you can transfer departments.

    Recommends
    Positive Outlook
  8.  

    Good pay and good job.

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

    I worked at Charles Schwab

    Pros

    Great experience, company will invest in you, learn everyday, pay is stable.

    Cons

    Traditional corporate job, work in a cube in call center environment. Took bonuses away and laid off workers when profits lesson.

    Advice to ManagementAdvice

    Be more transparent.

    Recommends
    Neutral Outlook
    No opinion of CEO
  9.  

    Great place to work

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

    I worked at Charles Schwab full-time (more than 3 years)

    Pros

    Competitive compensation, extra hours available but not required, clear expectations. Inbound call center with a client base that actually likes the company and services provided.

    Cons

    I can't think of any cons worth mentioning.

    Recommends
    Positive Outlook
    Approves of CEO
  10. 3 people found this helpful  

    Schwab for 10 years

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

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

    Pros

    Good company Senior leadership is great looking for more our of local leadership

    Cons

    Slow career advancement even with high turn over

    Advice to ManagementAdvice

    Look to add a talent development role. Clearly outline career progression

    Recommends
    Positive Outlook
    Approves of CEO
  11. 3 people found this helpful  

    Great work place

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

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

    Pros

    This company lets you balance work and family, its a nice friendly clean place to work.
    Training program is awesome, a little fast paced, so you need to listen.
    Good health care, dental and eye.
    Paid 4 weeks sabbaticals every 5 years. (You can add on 2 more weeks of vacation.) Total 6 weeks at once!

    Cons

    If your in the Financial side of the business (not tech) and you don't have your series 7 license, it can be tough in getting advanced to senior position.

    Advice to ManagementAdvice

    Company does a lot of promoting within. Yes if management is your cup of tea, then you will have the opportunity to put your name in the hat if your qualified.

    Recommends
    Positive Outlook
    Approves of CEO

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