Charles Schwab

  www.schwab.com
  www.schwab.com

Charles Schwab Reviews

Updated December 22, 2014
Updated December 22, 2014
904 Reviews
3.1
904 Reviews
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Charles Schwab President and Chief Executive Officer Walt Bettinger II
Walt Bettinger II
537 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

Employee Reviews

Sort: Popular Rating Date
  1. 2 people found this helpful  

    Put your career in concrete shoes

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

    I worked at Charles Schwab

    Pros

    Just ok
    continues to make money

    Cons

    menial pay raises
    money goes mostly to executives and not people actually doing the heavy lifting
    no advancement opportunities in IT
    MGT lives in a constant state of fear
    Employees are treated like cattle

    Advice to ManagementAdvice

    Fire more of the upper management and get some people in who really know what they are doing.
    Also, move all IT out from under the CFO. He is killing IT at Schwab by watching every penny spent.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 6 people found this helpful  

    Schwab continually receives lowest employee engagement results for a reason.

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

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

    Pros

    Good trading technology for clients.

    Cons

    HR is weak and will not support employees who have been a victim of harassment and discrimination. External whistleblowing firm that they use is really a firm that collects information from employees to vet potential lawsuits for Schwab, it is not there to protect employees. When I started with the firm, I discovered an issue that would affect the financials of Schwab. I was never rewarded for my findings and in fact was grilled as to why I caused the issue (which wasn't the case since I was just hired and in my research the issue went back as far as 4 years prior to my employment!). I was asked to fix it, which I gladly did - since it was the right thing to do, then was never asked about it again nor rewarded. I saw several negative people (negative to the point of destroying things in the office or not wanting to do the work that the person was assigned to them) that were later promoted because "it would cheer them up and make them better employees". I saw a negative employee who was jealous because he was not a manager and started secret coalitions with his coworkers to destroy their manager or setup "traps" to trip up the manager. This person was promoted to manager. I saw another negative employee who had said racial slurs but was promoted because "she worked hard". So you can be a racist and still get promoted? The one thing that connected these individuals was that they were all white. TO GET PROMOTED: Have a temper tantrum all day, setup coups against your manager, say nasty things about your colleagues and your manager and, by all means, don't do the work that has been assigned to you. The RPS office seems to be happy people. The Retirement institutional services people are the lowest on the totem pole of professional people. Values and leadership are a mess at Schwab in Austin, TX.

    Advice to ManagementAdvice

    Schwab is too "virtual" in terms of management. Senior management in San Francisco does not understand what other offices are facing in terms of office environment. HR is not involved and doesn't have control over the situation. Please do not promote negative employees just to "make their day". Also, don't over emphasize the use of the Strengths report. Just because an employee doesn't fit the profile for their job, it doesn't mean that they should be pushed out or challenged to get out to search for something else. Stop reading so much into those results!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3. 5 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
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  5. 4 people found this helpful  

    Senior Staff Software Engineer

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

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

    Pros

    Hard-working people that give 100%

    Cons

    Below industry pay for technologists, no promotions for women, no leadership skills in Upper Management, most techies are overworked and underpaid with lousy medical benefits.

    Advice to ManagementAdvice

    CEO, Executives and Senior management are oblivious to the talent they have working at the lower levels. Upper management has no vision that is comprehensible to most employees that are doing the REAL work. My advice is take a look at what you have, and if you think you don't have talent working at the company, it all starts with YOU. Leadership is a joke here.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 3 people found this helpful  

    Ok place to make a living

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

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

    Pros

    nice place with good people and some perks. Including, generous vacation time, separate sick time, sabbatical. The company is large and this leads to plenty of opportunities for career advancement.

    Cons

    Despite being a large company, it can be challenging to not get pigeon holed. Management claims that they value additional education; however, they will not pay you for it. Oftentimes that does not mean extra pay either. Additionally, they strap you with a maximum 2% raise each year. They claim the difference is made up with bonuses, but that is questionable at best.

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

    Worst company to work for.

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

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

    Pros

    thee are no pros, worst company with a very low work morale and balance.

    Cons

    People are narrow minded, a lot of politics (politically correct - which means shut up and do nothing); executive team are hypocrites. salaries are on the lowest end. Do not work for this company, you are never going to be appreciated there.

    Advice to ManagementAdvice

    think about your people first

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 2 people found this helpful  

    NOT GOOD for the seasoned Financial Advisor

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

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

    Pros

    You get a book of business, no "cold calling."
    You might be able to take a sabbatical after 5 years, but it all comes down to whether you are the manager's favorite or not.
    Support from the operations center in Phoenix and Austin are great.

    Cons

    Low base salary of $40,000 and if you get pegged into a lower level (levels 1 or 2 vs 3 or 4), you will work just as hard as your peers for less.
    Trying to pass Schwab off as "wealth managers" when they lack a private bank, local teams of advisors/support, the ability to show the true capabilities of the Private Client advisory offer
    Management plays favorites in structuring your "level" for compensation and will cut you out of leads and opportunities to grow. Very petty and childish atmosphere.
    Unqualified to barely-qualified "Financial Consultants" and operations personnel

    Advice to ManagementAdvice

    Pay a better salary if you are going to expect your Financial Consultants to be actual Wealth Managers
    Provide the proper tools to do the job
    Add private bank or trust services if you really want to attract ultra high net worth clients
    Quit relying on phone-based teams to handle new clients that are eligible for a branch relationship -- wealthy clients want a team of professionals nearby with whom they can meet and have all their paperwork handled locally, not back and forth over the phone until it gets so messed up they walk into a branch ticked off.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 3 people found this helpful  

    Call Center Sweat Shop

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

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

    Pros

    they pay you money, under cover parking, they have benefits (but their not good), you learn a lot of what not to do when it comes to investing, colleagues are nice.

    Cons

    you take call after call after call of abuse from customers, you see a lot of upper management moving around but not the people that actually work hard taking calls from clients.

    Advice to ManagementAdvice

    promote from within, they are your loyal employee. stop promoting from competitors.

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

    Poor employer to work for

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

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

    Pros

    good salary and benefits, covered parking

    Cons

    Awful work culture, no work life balance.

  11. 5 people found this helpful  

    Schwab sucks

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Charles Schwab

    Pros

    They have decent benefits

    Cons

    No room for growth. Very corporate

    Advice to ManagementAdvice

    Get a life

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