Charles Schwab Reviews

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3.0
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Charles Schwab President and Chief Executive Officer Walt Bettinger II
Walt Bettinger II
2 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

4 Employee Reviews

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  1. Just Ok

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Client Service Specialist in San Jose, CA
    Former Employee - Client Service Specialist in San Jose, CA
    Recommends
    Approves of CEO

    Pros

    Company that you are proud to work for.

    Cons

    Not a lot of career choices in the branches.

    Advice to Management

    Lay off all the high pressure sales enviroment. Go back to the old Schwab.


  2. Have been working here for 7 +

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President, Financial Consultant in Sunnyvale, CA
    Current Employee - Vice President, Financial Consultant in Sunnyvale, CA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Education and employee development. Management is willing to work with you to improve areas of weakness.

    Cons

    Lack of a technology has been a bit of an issue. Seems to be more of an area of focus recently.


  3. Helpful (6)

    Vice President-Financial Consultant

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

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

    Pros

    Ethical financial guidance; Reasonable/affordable product pricing; Transparency of fees; Great brand name; Work/life balance; Supportive and collaborative work environment; Diverse employee base; Embracement of new technologies; Good benefits; Time to volunteer of 8 hours per year;

    Cons

    Few career advancement opportunities or options except growing own practice; Employee base is diverse, but management is not; Overly cumbersome paperwork and procedures, especially on advice products; Frequent changes in executive level leadership result in inconsistent policies; Opinions of top producers count, but not the others; Favoritism hurts morale; Quarterly resets burn out even the best calibers; Termination after 2-4 quarters of bottom 20% sales: Financial Consultants are treated like disposables within the company while trying to convince clients they are experienced and trusted advisors and will be there for clients for a long time;

    Advice to Management

    If you would like clients to believe they are dealing with a trusted advisory service provider firm, you need to respect and empower your front-line Financial Consultants, especially those with 10+ years of experiences, and allow for bottom-up feedback and participation instead of only top-down dumping of compensation/advice/product policy changes, campaigns and quotas.


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  5. Newer hire review

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Client Service Specialist in San Jose, CA
    Current Employee - Client Service Specialist in San Jose, CA
    Recommends
    No opinion of CEO

    Pros

    I chose Charles Schwab because I was looking for a more recognized company name than my previous employer to help build out my resume. The base salary is about $10K more than what I'd been offered at other companies which was also a plus. Office is relatively laid back and everyone helps each other out when they need it. Management at my branch is great but obviously this can vary between offices. Benefits are comparable to other companies.... medical, dental, vision, 401K with matching, disability, life insurance, etc. are offered. You can choose which you'd like to take part in. You pay for these out of your base salary, so keep this in mind when you are offered your base salary. You can figure your base salary will be about $1200 less once these are deducted assuming you sign up for medical, dental, disability, and vision. 401K is obviously at your discretion. You have choices between the companies you use as well for medical, which I think is nice. Company offers yearly bonuses as well but would depend on your position. Overall, I am satisfied with Schwab.

    Cons

    It will depend on where you work at Schwab, but one thing I don't really like is that the advice you'll get from a Schwab "financial consultant" will most likely not be as comprehensive as it would be at a more privatized firm, but what do you expect from a discount brokerage firm? So I don't know if this is really a downside or just a personal opinion that I have. But for example, if I was going out to look for comprehensive financial planning, I would not choose Charles Schwab. I've also noticed that being in a branch office and working at the front desk, a lot of customers seem to believe that I am basically a receptionist even though I am licensed exactly the same as a financial consultant/advisor and often speak down to me ... which is a little irritating.

    Advice to Management

    So far, no complaints.



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