Charles Schwab

  www.schwab.com
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FC for CS

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Financial Consultant  in  Chicago, IL
Current Employee - Financial Consultant in Chicago, IL

Pros

good source of leads work. many products to cross sell. great training and development. this is great compnay to work for.

Cons

so many products to sell is difficult. book penetration can also be difficult. commission goals can be unobtainable in bad quarters

Advice to ManagementAdvice

this is a great company to work for. they know what they aredoing and their FCs and very knowledgeable

Approves of CEO

Other reviews for Charles Schwab

  1.  

    Schwab is a great company, just but a call center job is a stressful dead end

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Registered Representative (Call Center)  in  Phoenix, AZ
    Current Employee - Registered Representative (Call Center) in Phoenix, AZ

    Pros

    Professional atmosphere and well communicated expectations. The benefits at Schwab are as good as any large corporation and the pay was about right.

    Cons

    Any call center job is very difficult to move out of. You compete with about 800 other reps and any move you make out of your role in the call center will likely translate to a lateral move or a pay increase to another job on the phones. It is extremely difficult to move into a branch or sales role. I personally knew many people who were in the call center between 5 and 10 years without getting out. Bonus payouts are extremely low and frustrating. Sales through service is pushed with no real incentive.

    Advice to ManagementAdvice

    The biggest topic that most reps talk about when management is not around is the need for an improved bonus payout system. Sales became an increasing focus over time with no offer to be paid for your sales. The minimum was unacceptable and there is constant pressure from the top down with little payout. I heard that certain directors were unprofessional in manager meetings and put big pressure on managers to perform.

    Recommends
    Approves of CEO
  2. 2 people found this helpful  

    Good place to start, but not a great job

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Registered Representative  in  Indianapolis, IN
    Former Employee - Registered Representative in Indianapolis, IN

    Pros

    The company will sponser you to acquire your series 7 & 63 liscences. For someone right out of school or no experience in the industry, probably one of the best places with in broad and legitimate exposure to financial services. Experience with a broad array of components of the market and financial instruments. Good on a resume, one of the top brokerages in the world. Laid back emphasis on a sales based approached. Lot of information and education about the markets.

    Cons

    Non-typical work schedules, weekends, etc. Employees are used as dispensible sacrifices to un-satisfied clients, the organization will rarely back up their associates. Grueling hours on the phone fielding sometimes over 100 calls a day. Little appreciation for work unless clients highlight. No mobility! The bulk of employment is in Client Phone Services, then the branches, then operations. Then the interesting jobs requiring analysis and strategy are INCREDIBLY scarce. The emphasis is to bring in bodies to the phone centers and KEEP you there. Compensation is REALLY low. Salaries are very low to begin with and bonuses are decent but can be suspended for any kind of reason at all.

    Advice to ManagementAdvice

    Don't treat your employees like dispensible cattle, improve their compensation, lighten the call load, provide opportunities to do something OTHER than take calls all day, and appreciate how grueling the job is.

    Doesn't Recommend
    No opinion of CEO
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