Charles Schwab Reviews

Updated October 29, 2014
Updated October 29, 2014
877 Reviews
3.1
877 Reviews
Rating Trends

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

Review Highlights

Pros
  • It does allow for a good work/life balance which was very important to me (in 77 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

Employee Reviews

Sort: Popular Rating Date
  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.  

    Great company

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

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

    Pros

    Good benefits, pay and a team friendly atmosphere. There are chances for promotions however you have to be an insider.You can change your team position at the company every 18 months for other learning career opportunities.

    Cons

    The office culture seems to favor those in the favored group. Your productivity and enthusiasm will not be rewarded if you are an outsider on your team. Growth is hampered unless your on the favored status with management.

    Advice to ManagementAdvice

    Promote based on work ethic. Listen to your employee ideas.

    Recommends
    Neutral Outlook
    Disapproves of CEO
  3.  

    Great career development opportunities

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Software Engineer in Chicago, IL
    Current Employee - Software Engineer in Chicago, IL

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

    Pros

    Friendly environment, exposure to agile methodology, good company values

    Cons

    very minimum work from options, employee recognition is average, less vacation days

    Recommends
    Neutral Outlook
    No opinion of CEO
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5.  

    Overall Good Company

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

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

    Pros

    The company itself is very good. Benefits are good. It's the small things that count...ice water, coffee, tea, hot chocolate free with no "fund" needed.

    Cons

    Senior manager is not much of a manager.

    Advice to ManagementAdvice

    Provide more leadership training/guidance for senior managers.

    Recommends
    Neutral Outlook
    Approves of CEO
  6.  

    Charles Schwab provides a great culture and hands-on experience.

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

    I worked at Charles Schwab as an intern (less than an year)

    Pros

    The culture is very relaxed for a financial company. It is very easy to speak to managers and VPs. As an intern, I was even allowed to ask the CEO questions about his experiences. Early on, I was entrusted with important client data to analyze and use to make recommendations to business partners.

    Cons

    There were strict requirements for the number of hours I was allowed to be compensated for.

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    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
  8. 2 people found this helpful  

    Career limiting

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President, Financial Consultant in New York, NY
    Current Employee - Vice President, Financial Consultant in New York, NY

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

    Pros

    National company with large facilities in key cities.

    Cons

    Constant revamping down of compensation changes, as many as 4 in one year. Little career development and limited career potential. Only go there if you want it to be your last career change.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  9. 1 person found this helpful  

    Fade fast...no upper support

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

    I worked at Charles Schwab full-time (more than 8 years)

    Pros

    the people you work with makes work fun and less painful with all the alert levels etc. 401k match.

    Cons

    the longer you're there the faster you fade, I worked in the glory bonus days where they paid out 150% now you get $300 a quarter no matter how hard you worked. Leadership is a job, won't talk to you at all and managers are forced to manage by stats...stats are huge. They dont care how many calls you take or what you go through to make clients happy...it's all about numbers.

    Applying for other jobs within is a joke, politics!! You can have the experience and all the qualifications but they'll hire someone that's been there a year over tenure. You feel forced in your role and like there's no hope forcing you to find employment elsewhere. Salary and raises are a joke also. They have a pay grade system and when I started 10 years ago you got pretty good raises now 2% annually not gonna cut it when rents at its all time high. Also new reps are starting out at what people are making that's been at the company for 5 plus years without no industry experience. They pay these reps to get license etc just to see them leave the firm, because they realize it's all a joke. It's a good starter firm, but don't waste years thinking Schwab will invest in you...

    Advice to ManagementAdvice

    I've seen good management over the years, but this new management team wants to look good in front of peers vs standing up for what's right.

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

    Friendly behemoth struggling to stay relevant

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

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

    Pros

    Very friendly, outgoing, mostly-transparent corporate culture, which is a legacy from the founding days of the firm. Helpful cross-functional team atmosphere and inclusive sense of belonging, shared among all functions and office locations (I've worked at two SF headquarters locations but regularly worked with colleagues in TX, CO, NY, OH).

    Cons

    Schwab is only in the last few years waking up to the fact that they did not keep up with the industry in terms of investing in new technology. They are playing catch-up and are behind the 8-ball in mobile UX for individual investors, and are only somewhat better off in their recent partnerships with Salesforce and others in the cloud for their advisor network. Schwab is now scrambling to bring in HNW clients as their boomer clients age into retirement, and the Active Trader business falls off. However, Schwab truly does not have the infrastructure and frankly, investment management talent, to support a value proposition that takes on full-service investment firms vs other discount brokerages. Further, base pay is low for the industry (including bonus plans) and vertical promotions are rare and contentiously, politically fought-over.

    Advice to ManagementAdvice

    Planned physical redistribution of the workforce in 2015 to locations outside San Francisco sends the wrong signal in a Bay Area seething with tech money.

    Recommends
    Neutral Outlook
    Approves of CEO
  11.  

    Just drink the Kool-aid

    • 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

    Very stable job environment. The benefits are decent, not great, but decent. There are some good people in the organization, you just have to find them. CEO is very down to earth and very approachable.

    Cons

    Their pay structure is wildly out of date and they are struggling to keep talent in the building. Group think runs rampant and while they think they are innovative, they really aren't. Nothing happens fast, if you prefer nimble this isn't the place for you. Nothing to really attract younger people, you hear a ton about culture but it's not organic, more forced than anything.

    Advice to ManagementAdvice

    Quit agreeing with everything your boss says, challenge and call BS when you see it.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

Charles Schwab Photos

Charles Schwab Headquarters
Exterior of 215 Fremont Street

+ Add Photo

Work at Charles Schwab? Share Your Experiences

Charles Schwab

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.