Charles Schwab
3.1 of 5 754 reviews San Francisco, CA 5000+ Employees

754 Employee Reviews (View Most Recent)

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Retirement Plan Services

Retirement Plan Services Associate (Current Employee)
Phoenix, AZ

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

ProsThis department has a knack for hiring friendly and competent employees at the entry level.
Company is very ethical to participants. Reps are encouraged to position Schwab products when appropriate. This means you won't lose sleep at night over selling people on stuff they don't need. Lateral promotions are very common.

ConsManagers' responsibilities are passed along to reps with no additional pay increases.
Maximum annual bonus never exceeds 3K and is easily lost if reps are even a fractional percent away from goal.
Getting licensed or promoted to "proficient" status does not include a pay raise.
Department is relatively unknown to the greater organization.
Company is so focused on running fiscally lean that annual reviews don't keep up with inflation.
Understaffing is a significant issue and often leads to call volume spikes and little-to-no vacation time
Attendance policy is very strict. Time-off is difficult to schedule due to understaffing and reps cannot have more than two unscheduled absences, sick time, or late-arrivals within a 90-day rolling period or they will be written up.
Management is very top-down There is little to no room for any recommendations to improve productivity. A request for more effective/efficient resources is often answered by management with a solution that involves more tedious responsibilities of reps.

Advice to Senior ManagementInvest in technology and the well-being of your representatives. This department is a revolving door because pay-raises are practically non-existent, bonuses are small, new assets under management does not reflect in reps' bottom-line, management does very little to streamline processes and technology necessary to aid reps in day-to-day activities.

Also, pass of some of the profit from the converted retail leads to Retirement Plan Services reps. These reps are the face of Schwab and deserve some of the commissions/revenue that they generate.

No, I would not recommend this company to a friend

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For the most part this was a good work environment

Administrator (Former Employee)
Coppell, TX

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

Pros: Great benefits, friendly co-workers and good location Cons: Working long hours during month end. Managers micro manage Advice to Senior Management: Management needs to stop micro-managing More

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Good place to work

Senior Staff Software Engineer (Current Employee)
San Francisco, CA

I have been working at Charles Schwab full-time for more than 10 years

Pros: Good work/life balance Stable company Good salary and benefits Paid Sabbatical every 5… Cons: A little bureaucratic/political, especially between internal groups Not all of your fellow employees… Yes, I would recommend this company to a friend More

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