Charles Schwab

  www.schwab.com
  www.schwab.com

Charles Schwab Reviews

Updated December 20, 2014
Updated December 20, 2014
903 Reviews
3.1
903 Reviews
Rating Trends

Recommend to a friend
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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. 6 people found this helpful  

    good company to work for

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

    I have been working at Charles Schwab as a contractor (more than an year)

    Pros

    good work/life balance, depends which group you fall in.

    Cons

    bad management, micro managers, less advancement opportunities, since no one leaves

    Advice to ManagementAdvice

    management sucks

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 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
  3. 6 people 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
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  5. 3 people found this helpful  

    Stuck in a rut

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

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

    Pros

    the benefits are pretty good, but they used to be much better. They do offer a one-month paid sabbatical every five years to qualified employees

    Cons

    Too many $30K jobs being performed by bright college grads with little opportunity to move up or out. Pay increases are 1% for the majority annually. You are required to work Christmas Eve, day after Christmas, and day after Thanksgiving, so forget about traveling for the holidays. Company devotes attention to new employees and tries to phase out older employees regardless of seniority. They like young inexperienced kids out of college that are hungry to work for little pay, get their licenses, and then leave the company to pursue more money and opportunity. They burn out the young promising talent so they don't have to pay them what they worth, then hire a whole new group and start over. This gives them the biggest bang for the buck, but they lose good talent because they won't pay them or promote them.

    Advice to ManagementAdvice

    Management shows favoritism toward certain individuals. Employees work in a team environment where competition is encouraged. Every phone call is recorded and productivity and accuracy is tracked and evaluated daily. Management rewards top performers monthly. It can be a very stressful working environment, where if you have one bad phone call, you can be fired or watched like a hawk for the next several months. If you get a good manager, it can be a hal way decent place to work. If you get an a bad manager, who isn't on your side, you won't last long in this company.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6. 5 people found this helpful  

    if you want to shine, work somewhere else

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

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

    Pros

    Some of the most genuine, kind-hearted co-workers ever. Nice to work for an investment company that is truly transparent about its offerings and provides excellent customer service. Great work-life balance (almost too good--the work suffers because management is so supportive of people's "issues").

    Cons

    Systems, policies, and procedures reward mediocrity. Technology is restrictive and outdated. You'll spend most of your time navigating the bureaucracy instead of actually doing any real work. Untalented, problematic people get coddled. Good luck getting a promotion--Schwab doesn't understand how to reward, cultivate, or retain top talent. Shameful how much time and effort are spent on work that never sees the light of day, which isn't just frustrating: it costs investors money!

    Advice to ManagementAdvice

    FIRE SOME PEOPLE. Hire a true digital leader--not a Schwab native--most of those people have worked at Schwab too long to understand how to be modern and innovative. Stop being afraid of putting a stake in the ground about what makes Schwab special.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 4 people found this helpful  

    Family friendly company but could stand to pay a bit more!

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

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

    Pros

    Great people work here and are well intentioned in their efforts. Quality of life is also extremely important to management which means no late nights at the office unless it's absolutely necessary.

    Cons

    From a competitive salary/bonus perspective they could stand to do a better job. As the job market continues to grow they stand to lose a good bit of their talent if they aren't able to compensate.

    Advice to ManagementAdvice

    Compensate your employees fairly or risk losing the top talent.

    Recommends
    Neutral Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    Good benefits but salary is below industry standard

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

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

    Pros

    Good benefits: 401k matching, 17 days vacation + 10 days sick time per year, 1-month paid sabbatical leave every 5 years. Laid-back work environment. Good work/life balance.

    Cons

    Salary of a software engineer is below industry standard in the SF bay area. I guess it makes sense since it is a bank and not a software company. Software development is considered a cost center.
    Yearly increase is very small even if your merit rating is very good.
    Software engineering managers are a joke. Very few are technical. Most managers do not know how to program or do not have a computer science background.

    Advice to ManagementAdvice

    Hire competent and truly technical managers.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 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
  10. 1 person found this helpful  

    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
  11.  

    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

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