Charles Schwab

  www.schwab.com
  www.schwab.com
There are newer employer reviews for Charles Schwab

 

Most ethical company I have worked for!

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

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

Pros

-- Colleagues are smart, collaborative, and always willing to help.
-- Company tries to be as ethical as possible
-- Company aims to put client needs first
-- Company provides great work life balance and great opportunities to volunteer

Cons

-- Can be slow at adopting new technologies
-- Colleagues can tread overly lightly when expressing strong opinions
-- Senior management provides political opinion during elections
-- Not always clear on direction

Advice to ManagementAdvice

-- Develop strong themes for the year and communicate them more effectively
-- Delve deeper into reasons for engagement results
-- Continue to listen research results and act accordingly

Recommends
Positive Outlook
No opinion of CEO

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

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  1. 6 people found this helpful  

    Schwab is a great place but...

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

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

    Pros

    Schwab is the ‘white hats’ of the brokerage industry – they really do care about their customers.

    Schwab has the focus on ‘employee engagement’ and survey everyone each year. Part of upper management’s compensation is driven by their ratings on this survey.

    There are tons of great people who work at Schwab; most I’ve worked with are awesome!

    Cons

    Schwab is ultra-highly conservative. You have to move ALL your retirement plans, brokerage accounts, etc. to Schwab. The compliance department is merciless about hounding you on this.

    Schwab has the slowest computer systems ever encountered. Because of their constant 'scanning' software and other 'big brother' activities, it takes the longest time to perform simple tasks.

    The pay is not competitive. In San Francisco, we cannot keep good employees because other firms are willing to pay more for our good people.

    All the talk about employee engagement is nothing more than ‘lip-service.’ If you decide to join Schwab because you think management really cares about their employees, you will be disappointed. Everyone, from Walt Bettinger on down, frequently says “if you aren’t engaged, then you should look for a new job elsewhere.” No one is concerned enough to investigate ‘why’ folks are not engaged and do something about that. Their focus is to remove the ‘detractors’ which will thereby increase their engagement score. In the past 18 months, we’ve lost 20% of our department because leadership hired one man who is not “Schwab-like” and possesses zero emotional intelligence. If he doesn’t like you, then you will be managed out of the company quickly. This ‘constructive detachment’ has happened to 2 employees and more is coming. Beware!

    Advice to ManagementAdvice

    Be more selective, dig deeper into your executive candidates. You have hired a person who is single-handedly responsible for killing the engagement of his entire department, causing everyone to wonder if they will continue working there and afraid to question them. So far, most who have questioned his judgment or opinion are now gone.

    There is a joke being communicated throughout the ranks; “the beatings will continue until engagement improves.” Is this really how you want to treat most valuable asset? We recently completed a focus group where employees were asked "why is engagement so low?" and "how can we improve the engagement?" If you truly care about improving employee engagement, you should go directly to the folks who conducted the survey and get the raw responses from them - not the department head..

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  2.  

    Wonderful career opportunity

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Director
    Former Employee - Director

    I worked at Charles Schwab full-time (more than 10 years)

    Pros

    Opportunity to develop skills and expand value to the organization.

    Cons

    Depending on location, limited availability for promotion

    Advice to ManagementAdvice

    Keep current on the management tools and expand the emphasis on continuing education for all employees.

    Recommends
    Positive Outlook
    Approves of CEO
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