Charles Schwab

  www.schwab.com
  www.schwab.com
There are newer employer reviews for Charles Schwab

10 people found this helpful  

RUN! Schwab is a dinosaur company that will eat your soul

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
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 (less than an year)

Pros

The work hours are very easy if 9 to 5 is your ideal this is the place to be. You get swanky leather bound paper notebooks to take notes in. If you are in San Francisco the location is mass transit friendly and centrally located. It will enable you to get to the job interviews you will be setting up after you start working here.

Cons

I am horrified by Schwab's outdated technology and tolerance of inefficiency. I SEROUSLY REGRET COMMING TO THIS COMPANY! This is a company that operates from decade old discontinued Compaq computers loaded up with Microsoft 2003! Directors and above can select the equipment they want but you will not be allowed this option. This is the first company I have worked at in the last 15 years where people come to meetings without ipads or laptops. File sharing, calandar syncing, FTP sites, and most of the tools you are accustomed to using are disabled or non existant at Schwab.There is no HR available other than for remote training. If you have any issues tough. There are few training programs. This is an ideal place to be constantly frustrated by inefficiency. The halls are lined with 15 and 20-year employees that are resistant to any change. When there are failures (there are a lot) they become an Schwab cheerleading squad and tell you how innovative they are. You will become sick of hearing the word innovative as you sit in your beige cube at your Formica desk with a Compaq. Your technical work skills will be guaranteed to erode. You will lose 1 to 2 hours work time per day due to IT issues. On the upside they give you nice leather bound paper notebooks so you can take notes. You you will need to have this as you will not be allowed portable technology at Schwab. Beware of the perks of getting to see a financial advisor. These guys will try to put you into Schwab's low earning funds. They have no grasp of emerging technologies or the landscape of the international economy. You will be forced to move all of your accounts to Schwab and will be forced to use their outdated and ugly trading platform. There are minimal holidays off. If you want to know what 1979 felt and looked like, come to Schwab.

Advice to ManagementAdvice

Stop saying that Schwab is an innovative company. You ARE a slow motion disaster of outdated thinking and technology. You currently have a 10.7% atrition rate amongst employees you should be alarmed. You cannot attract young or skilled talent due to your antiquated ways.

Doesn't Recommend
Neutral Outlook
Disapproves of CEO

904 Other Employee Reviews for Charles Schwab (View Most Recent)

Sort: Rating Date
  1. 3 people found this helpful  

    Lousy work environment - nobody is your friend.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Department Manager in Denver, CO
    Current Employee - Department Manager in Denver, CO

    I have been working at Charles Schwab full-time (more than 8 years)

    Pros

    A job. I guess the ethics are ok. Good deals for Advisors

    Cons

    Everything else. Super micromanaging orwellian culture that makes everyone bitter and on edge. Everyone will throw you under the bus if they think it will get them an extra dime. Hate how they don't appreciate anyone.

    Advice to ManagementAdvice

    Care about employees. Make the departments a team instead of one big dogfight. Impossible to make friends in this culture.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2.  

    Schwab can be a hard place to work, but also rewarding.

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

    I worked at Charles Schwab full-time (more than 10 years)

    Pros

    1. SCHW is a values-driven company offering a diverse set of products to consumers who are interested in investing. 2. Diversity is valued. 3. Schwab is a collaborative company (almost overly so). 4. There is an excellent job posting system that allows you to apply for internal positions as long as you have been in your present position for 1 year or more.

    Cons

    It can be a stressful environment. IT frequently has to meet target delivery dates which have been publicly announced by executives without sufficient analysis as to feasibility. Schwab also tries to save money by stating a strategy of purchasing application systems externally, with the intention of deploying the product with "off the shelf" functionality, e.g. minimal customization. What happens is once the product is brought in-house the business sees its limitations and the "off the shelf" agreement fails, and the pressure is on to deliver the required modifications as close to the original target date as possible.

    Advice to ManagementAdvice

    Please try to avoid making public delivery commitments without checking in regarding the feasibility.

    Recommends
    Neutral Outlook
    No opinion of CEO
There are newer employer reviews for Charles Schwab

Work at Charles Schwab? Share Your Experiences

Charles Schwab

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.