Charles Schwab Reviews

Updated June 30, 2015
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3.3
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Charles Schwab President and Chief Executive Officer Walt Bettinger II
Walt Bettinger II
594 Ratings

Pros
  • Great work-life balance (almost too good--the work suffers because management is so supportive of people's "issues") (in 80 reviews)

  • good benefits especially Sabbath every five years (in 59 reviews)

Cons
  • It is a Call Center environment (in 45 reviews)

  • Over the last couple of years, communication from senior management has been limited (in 25 reviews)

More Pros and Cons

1,032 Employee Reviews

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  1. Featured Review

    Helpful (4)

    Charles Schwab is one of the best places in the world to work.

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

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

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    I have been there for 16 years now. The culture of the company is all about the best interests of the customer. Everything is built up around that core concept. I have great pride and satisfaction in working for Schwab.

    Cons

    I have been the sole member of a geolocated team for almost 8 years. That has been a lonely job, but most of that is my fault for not reaching out and building relationships with my co-workers nearby, even though they are in totally different departments.

    Advice to Management

    Stick to the core principles.


  2. Helpful (1)

    Going going gone.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Project Manager in San Francisco, CA
    Current Employee - Senior Project Manager in San Francisco, CA

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

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

    Pros

    Great company to work for. Fair and really care about customers and employees.

    Cons

    Big mistake to reduce so much in San Francisco. That will come back to bite v

    Advice to Management

    See above


  3. I'm Pretty Happy

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

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

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Wide range of jobs. Tons of areas for growth and advancement. The sky is the limit.

    Cons

    There is always going to be something to complain about. Schwab is a great company but you have to be ok with corporate America.

    Advice to Management

    Stop changing comp plans. Allow financial consultants the ability to be customized with the client. Sometimes it feels like I am restricted on what I can provide.


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  5. Helpful (2)

    Good but not great

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

    I worked at Charles Schwab full-time

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

    Pros

    This is a solid conservative company with great benefits. Like any other large corporation your division and manager can make or break the experience. I found that most people in the company were willing to help you on projects even if they had never met you before. I was impressed with how well different divisions worked together considering how large the company is. I think it was as good as it could be given all of the unavoidable cons.

    Cons

    Like any corporation they are very process oriented and centralized. It can take a long time to get things done because of the bureaucracy to be dealt with. It can be difficult to break out of your current job role to try new things. Being a financial services company they are focused on security and they are highly regulated. This adds to the bureaucratic sluggishness.

    Advice to Management

    I was very impressed with the upper level management and my front line managers. It seemed to me that most of middle management was interested in maneuvering for their next promotion by impressing the upper management. I often thought that middle management was involved in checking the boxes on some yearly goat sheet to impress upper management rather than caring for their staff.


  6. Helpful (1)

    Positive Place to Work

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Charles Schwab full-time

    Pros

    A real sense of community among the employees. Interesting and diverse group of people who believe in doing an excellent job.

    Cons

    Sometimes management isn't nearly as transparent as they believe they are when sharing the aim and direction of the company.


  7. Summer Intern - great experience

    • Work/Life Balance
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Charles Schwab

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

    Pros

    Great culture, very driven and helpful peers.

    Cons

    Large corporation, lots of reshuffling


  8. Manager

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

    I have been working at Charles Schwab

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

    Pros

    Engaged employees, opportunity for growth

    Cons

    Outdated technology, long hours


  9. operations

    Former Employee - Operational Services Account Solutions Specialist in Tempe, AZ
    Former Employee - Operational Services Account Solutions Specialist in Tempe, AZ

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

    Pros

    great company to work for. Really feels like your apart of something bigger.

    Cons

    some idea's don't filter down to the people that will actually be handing the issues. could have better communication.


  10. Helpful (1)

    Call center? Yes

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

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

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

    Pros

    Colleagues all have the same outlook as me

    Cons

    Where to start? You are micromanaged to the hilt. Numbers numbers numbers are measured. How long was your call (average handle time), how long was your wrap up of your calls, how many calls did you take, how closely did you adhere to your schedule, how much time did you spend during the day not taking calls. Don't even think about taking a call if it's going to go into your break or lunch as this will count against your adherencee. Oh and if you want to really have good customer service and need to call a client back per their request you better make it a quick call because this will count against you as you are supposed to adhere to your schedule and an outbound call is the same as not being on the phones when you're supposed to be. You are on the phones all day long with one 30 minure team meeting a week. We get training time scheduled every week but we never get to take it because we always get alerted out meaning there are too many calls waiting to be answered. The job is grueling and tedious. Call after call after call after call. You can never take a breather otherwise your manager will bring it up in your team meeting going over PERF ( performance numbers). My advice is if you don't want to be in a micromanaged environment where every thing you do is measured by some metric (metrics that your $500 quarterly bonus depends on) look somewhere else like the Gap or Taco Bell. And you're expected to put in leads for new assets that you uncover, leads that you have to hand off to the advice or sales teams that make over 6 figures simply by taking your leads and converting them. Oh and leads are required. The more you have the better living you make for the sales team. You don't get paid squat on them even if you do all the leg work to uncover them. Think twice about interviewing for a CSR role, it's not worth the agony

    Advice to Management

    Get a clue, your retention rate would be much higher if you realized that working a phone rep the way you do with less than an hour off each week on average is going to get old super fast


  11. Depends on what you are looking for

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

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

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

    Pros

    1. Great Work/Life balance
    2. Good pay for workload

    Cons

    1. Like most young companies - big, but has a lot of growing up to do.
    2. Very paternal management culture style.
    3. Very little advancement opportunities - (good and bad of employees with long tenure). Bad being that senior positions are generally filled by employee attrition rather than talent.
    4. Almost non-existent field training opportunities - management practically discourages.
    5. Generally working remote is not an option.
    6. Company is not as innovative as they market - a customer may get a cool new investment tool, but an employee is probably going to be running on an xp machine.

    Advice to Management

    Practice what you preach. Follow up on progress. Understand the difference between a manager and a leader, power and authority.



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