E*TRADE Financial
2.9 of 5 264 reviews
www.etrade.com New York, NY 1000 to 5000 Employees

E*TRADE Financial Reviews

Updated Apr 17, 2014
All Employees Current Employees Only

2.9 264 reviews

                             

51% Approve of the CEO

(no image)

Paul T. Idzik

(45 ratings)

42% of employees recommend this company to a friend
264 Employee Reviews
Relevance Date Rating
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Review Highlights

Pros:
  • "Good work life balance and friendly atmosphere"
    in 14 reviews
  • "The Series 7 and 63 training is free and useful in other jobs"
    in 13 reviews
Cons:
  • "could improve in employee work life balance"
    in 7 reviews
  • "Aside from "licensed stockbroker" sounding important, just another customer service job in a call center"
    in 12 reviews
  • Show more review highlights

Reviews

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

 

Subpar people with subpar experience in a highly complex field

Senior Manager (Former Employee)
Menlo Park, CA

I worked at E*TRADE Financial for more than 5 years

Proseasy to get promoted if you have any knowledge at all.

Consworking with below average performers

Advice to Senior Managementhire people who have actual industry knowledge

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Financial Service Rep

Financial Services Representative (Former Employee)
Atlanta, GA

I worked at E*TRADE Financial full-time for more than 3 years

ProsEverthing abou them is great

ConsNothing that I have noticed

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Invaluable experience below market pay

Business Analyst (Current Employee)

I have been working at E*TRADE Financial full-time for more than 5 years

ProsThere are many learning opportunities and you have the ability to obtain various securities licenses.

ConsAs an analyst, pay is below market rates.

Advice to Senior ManagementCompensate employees better to retain talent.

Yes, I would recommend this company to a friend

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Challenging and rewarding, even during stressful time

Back Office Manager (Former Employee)

I worked at E*TRADE Financial full-time for more than 5 years

ProsManagement, at the time, my teammates were the BEST, and support for employees was great.

ConsWent thru 4 mergers in less than 7 years. Having to lay off great people was emotional and then had to hire staff within 3 to 4 months. Very senior management was unapproachable and not receptive to suggestions from any level beneath them.

Advice to Senior ManagementLook at the cons and work on them in the future. Some associates, NOT ON YOUR LEVEL, have ideas that could work. Try being an UNDERCOVER BOSS and sit on the jobs that you are making decisions on WITHOUT truly knowing the process. You might learn a lot....

Yes, I would recommend this company to a friend

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E*TRADE promotes a great team atmosphere!

Financial Services Representative (Current Employee)
Sandy, UT

I have been working at E*TRADE Financial full-time for less than a year

ProsTeam atmosphere, OT opportunities, Growth potential, CEO is focused on Customer Service first.

ConsSome areas of the processing systems seem more difficult to our clients than it should be.

Advice to Senior ManagementContinue to promote growth in careers.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Experience

Anonymous Employee (Former Employee)

I worked at E*TRADE Financial

ProsI really don't have much good to say about how good this place is.

ConsStress, verbal abuse from customers, pretty much everything.

No, I would not recommend this company to a friend

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Financial Services Rep

Financial Consultant (Current Employee)
Charlotte, NC

I have been working at E*TRADE Financial full-time for more than a year

ProsGood suite of products and services for entry and mid level investors.

ConsBack office operations completes work on their own timeline with no communications. No coaching from management - only directives. Senior Leadership not approachable. No clear direction for the company.

Advice to Senior ManagementDevelop a strategic direction for the company, then develop a matching pay plan and coach your way to success.

No, I would not recommend this company to a friend

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Had the BEST co-workers but the WORST management!

Anonymous Employee (Former Employee)
Salt Lake City, UT

I worked at E*TRADE Financial full-time for more than 5 years

ProsE*TRADE was a wonderful place to work because of the people that you get to work with each day. Some of the best in the business and you can learn a lot in the short time you will likely stay.

ConsUpper management is the worst as they have no idea what really goes on day to day to keep the customers happy. They have the worst methods of internal promotion and some of the highest turnover I have ever seen because almost every job there is a dead end.

Advice to Senior ManagementLess management (upper and senior) and more internal promotion.

No, I would not recommend this company to a friend

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3 people found this helpful  

IF YOU GET HIRED AS AN ASSOCIATE FSR, PASS YOUR EXAMS AND GET OUT AS SOON AS YOU CAN!

Senior Financial Services Representative (Current Employee)

I have been working at E*TRADE Financial full-time

ProsLicensing. Period. It's "free", and they pay you while you are in training. As the title says, get hired as an Associate FSR. It's great coming out of college, or wanting to start a career in finance. START being the keyword.

Paul Idzik is great! Structure, streamline, may trickle down. But I doubt it.

ConsIf you have morals, do not attempt to work there. If you are creative and know how to motivate, do not fill out an application. If you have potential to be great, you will intimidate your superiors and your Life @ E*TRADE will become a living hell. And if you aren't broken, imagine some place worse than hell.

HR is a joke.

FSRs and Sr. FSRs are licensed stockbrokers and all we do is sit there and pray that we can meet our quota each week by bringing in money for lazy Financial Consultants who don't do anything but wait for us to put in a lead. We do 75% of the selling and don't get any compensation for it. Bring in 20+ million a quarter and hand the phone off to an un-enthused FC--absolutely no compensation.

FSRs and Sr. FSRs who have been working there for 2 years or less know more than managers and senior managers who have been working there for at least decade or more. It does not mix to be a pleasant experience.

It's sad when you are told that you have to stifle your innovation and knowledge so not to outshine your aloof and incompetent current manager and future manager to keep your job and to climb the political career ladder at E*TRADE because the dumber you are the more valuable you are to management. Middle management from Senior Managers to Directors aren't creative enough nor know what the FSRs and Sr. FSRs actually go through in order to make processes better. Customer Service Senior Managers do not value the FSRs nor Sr. FSRs. We stayed tethered to a phone and computer screen for 8,10-15 hours a day (sometimes more because of understaffing) but they are quick to forget they made us STOCK BROKERS. They promote who they control instead of promoting people who can actually contribute to our new CEOs vision.

Advice to Senior ManagementWhen you see talent, don't stifle it and don't discourage it, and definitely don't steal it. Bolster it. Have a backbone. Be that one to step up and show upper level management who you've heard about or who you have on your team. Realize that you have people who hold titles lower than yours who are studying competitors in school and know how to implement processes for cheaper.

For Senior Management in LOBs other than CS: Know that you are dealing with people who are a decade or more younger than you and can learn what you require in that internal job posting quicker than you could yourself and more quickly than you can find an external hire, if given the opportunity because they want the chance. Don't brush them to the side.

Appreciate your minions, they can contribute and can bring your stock options from being underwater.

No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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Learned a lot, but hated working here

Financial Services Representative (Former Employee)
Sandy, UT

I worked at E*TRADE Financial full-time for more than a year

ProsGot licensed, learned a lot about numerous financial instruments and how they function.

ConsTraining for 7/63 was great, but after that they just kinda throw you in the deep end on the phones. Really would have benefited from some on the job training, but even their 'incubator' wasn't really training. Maybe our group of hires was too big for them to properly train everyone on systems. This job is basically a phone sales position. So much stress is put on getting leads for their financial consultants. Etrade's platforms (for their customers) are so easy to use, which meant someone only called in when something was wrong, or the customers were not smart enough to figure out how to navigate a website. This caused for very stressful/uncomfortable conversations. One of the happiest days of my life was the day I quit working here.

No, I would not recommend this company to a friend

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Glassdoor is your free inside look at E*TRADE Financial reviews and ratings — including employee satisfaction and approval rating for E*TRADE Financial CEO Paul T. Idzik. All 264 reviews posted anonymously by E*TRADE Financial employees.