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Helpful (3)

Micromanagers and Bullying Culture Dominate Schwab

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

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

Doesn't Recommend
Positive Outlook
Disapproves of CEO
Doesn't Recommend
Positive Outlook
Disapproves of CEO

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 Management

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

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  1. very professional environment

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Staff Software Applications Engineer in San Francisco, CA
    Former Contractor - Staff Software Applications Engineer in San Francisco, CA

    I worked at Charles Schwab as a contractor (More than a year)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    collaborative team effort. good benefits. at your own initiative you can develop and grow your career path. everybody is very approachable from managers, business partners, tech support and change management staff.

    Cons

    lots of politics at the higher level but if you are in a non-managerial position you're position should be safe unless the economy is really bad .

    Advice to Management

    eliminate politics if possible.


  2. Helpful (2)

    Absolute worst company to work for-read details below

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

    I worked at Charles Schwab full-time (More than 3 years)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    Easy work hours. A few smart people who care still around to make the company function.

    Cons

    1. The management pressures employees to vote Republican. Fox new is blaring all the time in the cafeteria.
    2. No mentoring-no promotion path. Company is very indifferent to its employees and managers manage up all the time. SInce the company has continuous layoffs, there is no effort to mentor or move people up. Lack of clear criteria for promotion means that "self promoting" individuals have a greater chance of moving up than people who work extremely hard.
    3. The company is deeply immoral and double faced about its approach to its customers. Specifically outsourcing company employees can view customers social security numbers, addresses and all the private information about clients opening the door for all kinds of privacy violations.
    4 Since we are on the immoral front, I used to work in an area where we were supposed to give objective advice to people about how to manage their wealth. Against all ethical norms, we were instructed to "float" Schwab mutual funds to the top so clients would buy them, even though they substantially underperformed other mutual funds in the offering.
    5. Schwab equity ratings are rigged to perform well against Barron's valuation and any claims against performance are to say the least, marketing fluff.
    6. Technology is old and obsolete. Do not expect Schwab to utilize new technologies. They still have a mainframe, with technology typically five years behind. To make things worse management has no interest in technology innovation-on the contrary if you are on the technology side you will constantly feel like a secondhand employee.

    Advice to Management

    If you are honest leave. If you are not, you are in a good place-stay.


There are newer employer reviews for Charles Schwab
There are newer employer reviews for Charles Schwab

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