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Charles Schwab Employee Review
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Comp & Benefits
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Senior Management
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Work/Life Balance
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Career Opportunities
- Disapproves of CEO
4 people found this helpful
“Great Company now Mediocre”
I have been working at Charles Schwab
Pros – For a firm in financial services, heavy focus on being ethical and helping the individual investor become financially fit. Survived the implosion - did not have to rely on TARP funds. Collegial culture with sense of strong work-life balance. Base salary fairly competitive.
Cons – Lack of career path development and opportunities for advancement. For a firm in the financial services, bonus is pathetic. CEO not very well liked; doesn't seem to fit in Schwab culture (SF Headquarters). Lack of diversity at senior and executive management level. Geographic strategy in place to relocate jobs to lower cost areas of the country reducing footprint in San Francisco and negatively impacting level of talent. Constant reorgs and layoffs have decreased morale.
Advice to Senior Management – Learn to grow and promote people from the ranks. Why hire a VP with no experience in the business from another firm when you have Directors ready to move to the next level? Likewise with DIrectorships, why not look at talent at the Senior Manager level for opportunities to promote?
2010-05-06 21:14 PDT
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