There are newer employer reviews for Charles Schwab

3 people found this helpful

Micromanagers and Bullying Culture Dominate Schwab

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Senior Product Manager
Current Employee - Senior Product Manager

I have been working at Charles Schwab full-time (more than a year)

Pros

-- Nice facilities
-- Wellness reward ($250/yr)
-- Quarterly bonus

Cons

After working in corporate America for over decade, I'd have to say that some of the worst micromanaging occurs here. If you're looking for a career where you work more autonomously, do not apply at Schwab. Many of the managers here also see only one way of doing things. I think this is why Schwab struggles so much with innovation. If you don't do things your manager's way, it's wrong.

There's also a bullying culture at Schwab. I've seen a number of other posts related to this on here. VPs, Directors and even some Sr. Mgrs are bullies in the workplace, putting others down when they get the opportunity. The sad part is even if you report them, nothing gets done. I'm aware of two HR complaints filed against individuals for bullying and those two people have not been removed from the company or even demoted. One manager who managed a bully even admitted he didn't know how to deal with his bullying report. Because he didn't know how to handle the situation, nothing was done.

I would not recommend working for Schwab. It has not been a good experience for me and a number of folks I know.

Advice to ManagementAdvice

Deal with the bullying complaints before Schwab really gets in trouble.

Doesn't Recommend
Positive Outlook
Disapproves of CEO
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  1. 1 person found this helpful

    Good not great place to work

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

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

    Pros

    The biggest pros are the benefits and 401k match. The benefits are top notch in the industry and its tough to beat the 401k match at 5% of salary.

    Cons

    The base salaries are low and it seems like Schwab would rather pay little and "groom" their employees rather than hiring more qualified individuals at a higher base pay.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  2. 2 people found this helpful

    Not the best for Financial Consultants

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Consultant
    Current Employee - Financial Consultant

    I have been working at Charles Schwab full-time (more than 3 years)

    Pros

    Great for clients that are self directed. Many tools and excellent website

    Cons

    Horrible if you are a Financial Connsultant. They pull you in 10 different directions at the same time and the pay is poor. They are changing compensation and is going to be even worse unless you live in one of the bigger markets.

    Advice to ManagementAdvice

    Eliminate the good old boy club and start hiring talent from outside Schwab.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
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