880 Employee Reviews (View Most Recent)

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Better than average

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

I have been working at Charles Schwab

Pros

Very good work life balance

Cons

A lot of red tape

Approves of CEO

Other Reviews for Charles Schwab

  1. 3 people found this helpful  

    A Great Disappointment

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

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

    Pros

    I worked in a branch in Chicago, our flagship branch in fact.
    Reasonable hours

    Cons

    Management is inept, allot of favoritism. I was one of the top producers in that branch, in fact I moved almost $100,000,000 into Advised Investing over 3 years. As you can imagine that was quite a hard thing to do. Once the pace slowed down I was managed out and had to quit verses getting fired. I left in 2007 actually, before the market crash. I told my manager I was going to begin telling clients to get out of the market, and I was told I couldn't do that, and look what happened in 2008. They dont care about their clients stay away.

    Advice to ManagementAdvice

    They wont take advice anyway, why should I waste my breath.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 5 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 for 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
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