Charles Schwab Reviews

Updated June 28, 2015
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3.1
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Approve of CEO
Charles Schwab President and Chief Executive Officer Walt Bettinger II
Walt Bettinger II
134 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

255 Employee Reviews

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  1. 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


  2. Senior Manager

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

    I worked at Charles Schwab

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

    Pros

    People are passionate about their work. The company is genuine about helping clients succeed in their financial life. Benefits are generally ok. Pretty standard for a financial company. Don't compare it to a tech start-up, you'll be disappointed. The sabbatical is definitely a plus that you don't typically see elsewhere. 401k match is good.

    Cons

    Innovation is slow, especially around tech. As much as the company would like to be innovative, changing priorities and management makes it difficult to move the needle. If you don't like working in a geo-located matrix style team, then this is not the place for you. Advancement is limited. They encourage you to look lateral instead.


  3. Helpful (1)

    Managing Director

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

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

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Unique, collaborative culture that supports its mission to empower everyday investors

    Cons

    The highly collaborative culture can lead to work taking longer than it needs to


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  5. Good Honest Brokerage Firm

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

    I worked at Charles Schwab full-time

    Recommends
    Negative Outlook
    Recommends
    Negative Outlook

    Pros

    Great culture, honest business run with conservative financial controls, excellent colleagues

    Cons

    Limited room for advancement, constant downsizing in San Francisco

    Advice to Management

    The high quality talent pool in the San Francisco Bay Area is worth far far more than you seem to think currently. Schwab would not be anywhere near as successful today if Chuck had tried to launch it in Phoenix, Denver, Orlando, or India - the locations the company is in the process of moving all but a small handful of executive jobs to right now.


  6. Good environment to work in

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

    I worked at Charles Schwab full-time

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

    Pros

    Great people to work with. Staff well rewarded

    Cons

    High pressure, and workload at times


  7. Helpful (3)

    Great company, a little stiff though

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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 3 years)

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

    Pros

    Great company with friendly and welcoming people. Great work-life balance. Pay grows quickly when you get promoted.

    Cons

    Organization can be very siloed. Some people can be political. Organization is very conservative in that it measures twice but rarely ever cuts.

    Advice to Management

    Be more risk taking: you are headquartered in the Bay Area, a hotbed for innovation. Promote your best talent. Offer better 401(k) match to compete with tech employers in the valley.


  8. Branch Manager

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

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

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

    Pros

    Incredible values and client support, great wealth platform. Innovative and embracing of industry change

    Cons

    Comp is below where it should be. Need to be more competitive in compensation strategy with branch network

    Advice to Management

    Continue to listen , embrace change, do Gallup survey every 2 years not every year.


  9. Senior Compliance Manager

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

    I worked at Charles Schwab

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

    Pros

    salary, benefits, career, technology, personnel

    Cons

    laying off, management, relocations, human resources


  10. Helpful (7)

    Losing its culture

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

    I worked at Charles Schwab (More than 10 years)

    Doesn't Recommend
    Positive Outlook
    Doesn't Recommend
    Positive Outlook

    Pros

    Schwab is an ethical company, which is rare in financial services. It has had a collaborative and cooperative culture. However, the recent emphasis on shipping jobs out of San Francisco to save money sometimes pits employees in different locations against each other. Relocation packages are not as generous as they used to be. There are many talented people, often overworked. 401(k) match is excellent; health insurance is so-so. Great access to financial services through the employee branch. Work-life balance was fairly good. A person gets to develop some great working relationships, though that's harder now with so many people leaving or relocated.

    Cons

    There's a lot of bureaucracy and a lot of fear of regulators. Lawyers rule everything. The old culture of collaboration, cooperation, and innovation is dying, with its death hastened by moving as many jobs as possible out of San Francisco. If you're not in San Francisco, I could recommend the company. But I've given it a thumbs-down because San Francisco is no longer a good location. The current CEO lacks the vision that Chuck and Dave had. EVPs don't appreciate the hard work of the people in their organizations.

    Advice to Management

    Don't isolate yourselves on the 17th floor, acting as if non-officer employees all had Ebola. Talk to people, find out what's happening! You might be surprised.


  11. 1 month sabbaticals!

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

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

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Love the 1 month fully paid sabbaticals every 5 years. Good benefits (health insurance, maternity leave, plenty vacation/sick time) Some departments allow to work remotely from home (1x a week or more depending on situation). Able to do informational interviews for other dept positions. Good location in SF for commuters. Good cafeteria, well priced items and a variety. Networking opportunities for women via many events.

    Cons

    Difficult to get promoted in some groups unless someone in upper management pushes you through. Difficult to transfer to other departments as they claim 'you have no experience' in their dept. It's all about who you know, even if you are an internal candidate. Also, lots of positions are moving out of San Francisco.

    Advice to Management

    Give more opportunities and chances to employees from other departments.



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