E*TRADE Bank Reviews

Updated April 30, 2015
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3.1
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Arlen W. Gelbard
4 Ratings

Employee Reviews

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  1. Great branding meets okay organizational execution.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Team Lead in Irvine, CA
    Former Employee - Team Lead in Irvine, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at E*TRADE Bank full-time (More than 5 years)

    Pros

    E*Trade's internationally recognized brand lends a certain 'acceptance' when acquiring new customers. This makes it easier for folks in the sales realm to gain more trust from their clients. Unfortunately, there's much room for improvement in the management side of things.

    Cons

    Middle management blues and the usual leadership mishaps.

    Advice to Management

    Take risks, think outside the box. Don't waste this great brand on mediocre products and services.


  2. Stay away

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Team Lead - Analysis in Arlington, VA
    Former Employee - Team Lead - Analysis in Arlington, VA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at E*TRADE Bank full-time (More than 3 years)

    Pros

    Trading platform; Mobile apps groups.

    Cons

    Loan portfolio kept on losing money. Company keeps the effort to eliminate loan portfolio. Jobs were unstable.

    Advice to Management

    Company keeps the effort to cut loan portfolio. I never saw any company like E*Trade who simply does not care about workers career. People's career were throw in the air. Saw bunch of people disappeared for no reason. Mainly use contractors to get job done. Turnover rate were extremely high. Management was immature. Saw leaders fired people for no reason to save money on giving people severance package. (Surprisingly this is legal in the Virginia) When you want to make transfer inside the company, the company made it a rule that you have to tell your manager first. No training were provided or approved. It has to be exactly what you are doing. So no cross function training were allowed. Stay away from this company if you care about your own career!


  3. Pretty good place to work

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Operations Analyst in Arlington, VA
    Current Employee - Operations Analyst in Arlington, VA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at E*TRADE Bank full-time (More than a year)

    Pros

    Overall good place to work as far as people, benefits and work/life balance.

    Cons

    It's hard to get out of operations, but the rest of the company seemed to be much more stable.


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  5. Helpful (1)

    Your overall experience will vary from manager to manager, but overall the opportunities are good.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Service Representative in Alpharetta, GA
    Former Employee - Financial Service Representative in Alpharetta, GA
    Recommends
    No opinion of CEO

    Pros

    Opportunity for growth Ability to become licensed, if not already Self improvement is encouraged (additional licenses, continuing education, etc) Pay is competitive

    Cons

    Training was sometimes inconsistent and that affects the information we provide to our customers and the speed at which we can respond. Also, ensure management understands how to manage people.

    Advice to Management

    Continue to focus on improvements and remember your people are the core of the business. I saw a lot of positive changes take place.


  6. Helpful (1)

    Just waiting to be shut down

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Manager in Arlington, VA
    Current Employee - Senior Manager in Arlington, VA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Very good business model. Good Customer base. Internet only, latest technology platform. Good Interest Rates. A lot of good passionate people still hanging around for some unknown reason.

    Cons

    Mistakes of a few people who made bad decision and took off when the going was good is now coming back to haunt the people who had really no say in the matter. Most people even at senior levels did not even know how bad the situation was till it hit the public eye. Everyone bought the cool aid that we are beating the competition.

    Advice to Management

    Do not treat the Bank as a step child. A bank and a brokerage together is a competitive advantage. Reward good ideas even if they are coming from some guy at the 'bank'. People at the bank should not be penalized for the bad decisions by some who are not even here anymore.


  7. ET OK

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at E*TRADE Bank full-time (More than 3 years)

    Pros

    It had a young culture, so you felt that just about anything was possible to do, even if it had not been done before

    Cons

    It lacked resources and company management had moved it's direction to places it should not have gone, putting the company in trouble


  8. Charm enviornment

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Summer Intern in Seoul (South Korea)
    Former Employee - Summer Intern in Seoul (South Korea)
    No opinion of CEO

    Pros

    Fairly flat organization and less competitive environment

    Cons

    Relatively low salary and few interactions among departments



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