Scottrade

  www.scottrade.com
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442 Employee Reviews (View Most Recent)

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Great work environment.

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Intern  in  Edmond, OK
Current Employee - Intern in Edmond, OK

Pros

Great coworkers. Unlimited access to financial tools. Great learning opportunities. Excellent corporate culture and communications with the home office.

Cons

Much of the information you learn is very firm specific. An intern will not be able to answer many of the questions due to regulations.

Advice to ManagementAdvice

Great job! Maybe add a little more personal interaction to the training process rather than just reading page after page.

Recommends
Neutral Outlook
Approves of CEO

Other reviews for Scottrade

  1. 5 people found this helpful  

    Great for those looking for an easy restful career

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Stockbroker  in  Los Angeles, CA
    Current Employee - Stockbroker in Los Angeles, CA

    Pros

    Not a heavy work load
    Low Expectations
    Never was forced to work over 40 hours in a week
    No micromanagement from district managers
    Friendly co-workers
    Rodger is awesome

    Cons

    - Currently being asked to sell with a flat salary and zero incentives to work
    - Your career will be stuck in neutral when you rise to branch manager so don't expect to get rich or have an executive title unless you are willing to move to St. Louis.
    - Scottrade attracts a ton of novice and less wealthy investors. Expect to explain the very basic fundamentals to $500 account holders daily.
    - You may work in an office of less than 4 people so your day relies heavily on a small number of people.
    - Scottrade prides itself on promoting from within, which is pretty cool but it creates a whole mess of underqualified mid-level managers. The backgrounds of the management is very "humble" compared to that of competitors.
    - There are a ton of arbitrary daily tasks that must be completed that add no value to the branch and could easily be eliminated or automated. Tons. This includes Compass calls which, once again, make no impact on paychecks. On a positive, I believe this will be changing.

    Advice to ManagementAdvice

    Just because the market is bad for financial services does not mean you need to ditch your values for short term profits. Customer service will win out in the long term so stop sweeping it under the rug to be like everyone else. If Scottrade changes to be like it's competitors then it has lost it's differentiation. Investors come to Scottrade for cheap trades, local branches, and the avoidance of pushy sales people. Add the pushy sales people, and you have much less to brag about. I doubt you would not consider it, but if you wanna be taken seriously, drop the word "trade" from your name. It devalues a solid brand and will keep the big money away. Raise the account minimum to $2000. One last point, when you start compensating based on sales targets, I expect you be willing to open your pockets. Top sales people industry wide make in the multiple hundreds of thousands. Even if you do not go that high, a 45k base with the "opportunity" to finish with another 15k in commission bonuses is less than appealing. Despite my complaints, I do enjoy working here.

    Recommends
    Neutral Outlook
    Approves of CEO
  2. 1 person found this helpful  

    I would not recommend that anyone work at Scottrade!

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

    Pros

    The friends that I made while working there. It was a great place to work when I first started.

    Cons

    Poor Management. They do not display fair practices. They do not value good employees. If you have a complaint, nothing is done to resolve the issue. The issue is shoved under the rug as if it didn't happen. You will only go somewhere in this company if management likes you! The pay is so low for what you are asked to do!

    Advice to ManagementAdvice

    Management: I truly think that you need to reevaluate how you are rolling out this reorganization. It is not well thought out and it is done extremely unfair. I think that you need to take a look into HR and who is making the decisions. I disagree with the way things transpired and feel that many will and do feel the same. I took my issue of harassment and retaliation to upper management several times and Nothing was done! I was miserable as my boss harassed me daily making me feel inadequate and a poor performer! This is clearly NOT the case I assure you! She is a mean spirited and hateful person but upper management likes her so she will stay. If management likes you, you will have a job. This is the bottom line at Scottrade Corporate. I will not refer one person to work there. I don't regret the great friends that I met but will never forget how awful I was treated and nothing was done!

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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