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4 people found this helpful  

The enthusiasm in working for Stech is long gone

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Network Engineer  in  Phoenix, AZ
Current Employee - Network Engineer in Phoenix, AZ

I have been working at Charles Schwab

Pros

The company still offers above average salaries, decent benefits package, and paid sabbatical leave every 5 years. Very good and skilled IT people and some of the best co-workers to be found anywhere.

Cons

Terrible management. Company is run by bean counters now and there no vision for new technology. Penny pinching has gone to the extreme and has downsized. Schwab is also letting its older workers go, and their years of knowledge, and bringing in younger workers out of tech school as a way to cut salaries.

Advice to ManagementAdvice

This company's persona went out the door when Chuck left. Senior management lacks vision and thinking outside the box. Stech is much too top heavy with middle managers. Cut the fat by eliminating half the supervisors, directors and manages, and Schwab would save millions right there, and probably speed up the work flow in the process. Right now everybody is there for just the paycheck.

Doesn't Recommend
Disapproves of CEO

Other Reviews for Charles Schwab

  1. 4 people found this helpful  

    If you enjoy company politics and inability to have a career path this is the firm for you.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Senior Bond Investment Specialist  in  Phoenix, AZ
    Former Employee - Senior Bond Investment Specialist in Phoenix, AZ

    I worked at Charles Schwab

    Pros

    A few Benefits and working with non-management team members who truly care in an uncaring environment created by non qualified managerment

    Cons

    No Career Path. Inequality of work loads when other departments are not held accountable. An every changing job description that you did not agree too nor sign onto when hired.Placing fully unqualified directors in charge of departments that they have no experience. Example. Current Director of Fixed Income service was formally manager of an options team who fears those who have experience and turns professional bond traders into call center robots. Treating professionals with no respect and who do not listen to those who have done the job for 20-30 yrs in the bond business. Management who blames without basic gathering of facts and points fingers toward others in department to protect their own jobs and care not about the company nor professionals on team.Management's use vacation days a company approved benefit that a employee receives when employee takes so that it has a negative impact on their production statistics which lowers individual performance statistics (therefore lowers bonuses). A Human Resource (HR) department that is is absent from total view of employees and is a hatchet dept.for the company. Inability of employees to bring up issues that need correction without a fear of losing their jobs. Cover-ups and blatant silence when employees want to discuss important issues.

    Advice to ManagementAdvice

    Review your practice of hiring non-qualified management who know nothing about fixed income and are used to dumb-size the professionals and silence their complaints that effect Schwab' clients and workers.Upper management who turn a blind eye to these practices should understand why UNIONIZING the Schwab workforce would be the best thing that could happen to give the employees a voice in many unfair practices brought on by these unqualified management types. I am amazed that non-competent management and directors are in these positions whereby professional fixed income employees have absolutely no respect for and they cannot lead nor add any value to the department. Creating a UNION is a real possibility brought on by Schwab management in this and other brokerage companies. Many departments are already talking amongst themselves about this issue.

    Doesn't Recommend
    Disapproves of CEO
  2. 4 people found this helpful  

    Little or no strategic planning. Everything is a fire drill!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Tempe, AZ
    Current Employee - Anonymous Employee in Tempe, AZ

    I have been working at Charles Schwab

    Pros

    Company has a good reputation with smart leaders

    Cons

    Little or no strategic planning. Everything is a fire drill!

    Advice to ManagementAdvice

    Invest in training for your employees. Technology needs to be updated. Plan ahead.

    Doesn't Recommend
    Approves of CEO
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