Charles Schwab

  www.schwab.com
  www.schwab.com
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CS&S

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Registered Representative in Chicago, IL
Former Employee - Registered Representative in Chicago, IL

I worked at Charles Schwab full-time (more than 5 years)

Pros

The corp side of the company is fare to the point of pay and benefits.

Cons

They let unqualified managers manage their people. Instead of promoting within, they go out and get their managers from less than great company's like E*Trade. They would rather go outside so there are no conflicts from promoting with in. They are afraid that if you promote someone, that others around them at their previous level wouldn't respect them. So you have a bunch of qualified people already in house, but instead you go outside the company to find, excuse my language, idiots, that have no idea what they are doing. I would say this wasn't the norm, but in my five years there I never saw anyone in the branches promoted, not anyone! But I did see a high turnover of idiot managers they hired from the outside world.
I left because I was sick or working for idiots that I can honestly say a trained monkey could do a better job. Not to mention, they hired a few Mormon managers from Utah and immediately good employees started getting fired and funniest thing, they were replacing them with Mormons. Now tell me corp should have at least caught onto that.

Advice to ManagementAdvice

Stop hiring from outside! You have a ton of talent at the bottom, they just can't get anywhere because you keep hiring in people above them for outside of Schwab. It doesn't take much smarts to know, that hiring in managers and managers that have worked their way up are totally different people. Fact, people that have worked their way up understand the company's values and how to do their job along with how to do the jobs of the people below them. Another Fact, people promoted up the chain stay with the company longer. Another Fact on that subject, company's that promote within and employee's actually see this happening get to keep all their trained employee's longer, but when you are some place for 5 years and see no one promoted, you know it is time to move on!

Doesn't Recommend
Positive Outlook
Approves of CEO

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

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  1.  

    Enjoyed working for Charles Schwab

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Business Systems Analyst in Phoenix, AZ
    Former Employee - Business Systems Analyst in Phoenix, AZ

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

    Pros

    Intelligent, smart people. Great corporate culture. Opportunities for learning new skills.

    Cons

    Most perm employees tend to be overworked, so life/work balance becomes difficult. Pay tends to be lower than industry. Tends to hire from outside rather than promote from within.

    Advice to ManagementAdvice

    Continue all the great things you do to encourage employees to stay but add internal promotions and raises to the list.

    Recommends
    Approves of CEO
  2.  

    Fair to positive

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Registered Representative in Englewood, CO
    Current Employee - Registered Representative in Englewood, CO

    I have been working at Charles Schwab full-time (less than an year)

    Pros

    Charles Schwab offers a great opportunity to get your foot in the door with the financial industry. They give you time to study for your series 7 and 63 exams, and the job allows you to learn about financial products and how to discuss them with clients. Also, I really enjoy the colleagues on my team.

    Cons

    It is a call center. You take 50 calls in a day, back to back, and it can get stressful. The pay is low compared to other similar companies. Management just raised the base pay for this job to $40,000 for new hires, but they did not extend the base pay bump to those of us already trained and working here. Kind of feels like a shove out the door, and I know a lot of folks seeking other jobs.

    Advice to ManagementAdvice

    I would like more money, please.

    Recommends
    Positive Outlook
    Approves of CEO
There are newer employer reviews for Charles Schwab

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