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8 people found this helpful  

So excited I can finally ACAT all my accounts to TD after I quit! :D

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Investment Consultant  in  Saint Louis, MO
Former Employee - Investment Consultant in Saint Louis, MO

I worked at Scottrade full-time for more than 3 years

Pros

Gave me my S7/63.
Gave me experience working in a corporate environment.
All the neighboring branches used to be like a big family. We have barbecues and outings. Bonuses were pretty low though, like $900 per quarter low, but benefits are above average. Used to be a good starting job for recent grads.

Now (or since Jan 2013), I would say the only pro working at Scottrade is if you work at a big city branch with lots of assets so you can hit your sales numbers. Then you can get a big bonus (i.e. if you bring in $50k, they give you $110... $100k for 220, HUGE, right?). No cold calling, only "warm leads". I mean, it makes business sense for the company to switch to sales, but it's just not for me.

Cons

The only challenge is the people and upper management. The work we do is a piece of cake and does not require any kind of skills whatsoever. You are lucky if you get a good manager, otherwise your career at Scottrade will be nothing but misery. Because you will have absolutely NO contact with upper management (HQ), except through your manager. In some branches, we "share" closes so each will always have the same number of closes or someone is slightly ahead. Makes sense for people to want to look good and I understand, but stop backstabbing the people you manage. If you choose to work here, try your best to get a good manager OMG. You will thank me after.

Best example to illustrate:
One quarter I had enough "attempts", but did not hit the target close, HQ manager complained. Fair enough. The very next quarter, I made sure to have enough closes, she complained about me not making enough "attempts". What else can I say? I'm leaving and I'm not eligible for the incentive bonus. I am doing all these closes so the money goes to YOU.

I wasn't laid off, I'm going back to school. But there are layoffs, they have creative ways!

Advice to ManagementAdvice

There is a reason why I have a network of million dollar accounts, but choose not to solicit them to Scottrade. Stop complaining, try working in a slow branch and let's see how many assets you can bring in. Close more branches, figure out who are the liars and good luck.

Doesn't Recommend
Neutral Outlook
No opinion of CEO

Other Reviews for Scottrade

  1. 5 people found this helpful  

    Circling the drain...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Software Developer  in  Saint Louis, MO
    Former Employee - Software Developer in Saint Louis, MO

    I worked at Scottrade full-time for more than a year

    Pros

    Initial on-boarding was painless. Fellow developers were generally great to work with.

    Cons

    Project management at Scottrade is, quite frankly, a disaster. Projects are always late - this almost entirely due to incompetent project management. Scottrade has assembled a team of project managers (with one or two exceptions) who measure progress by the number of meetings they can schedule, who refuse to listen to anyone who tells them anything that doesn't fit in with their preconceived notions, and are exceedingly creative in coming up with ways to waste everyone's time. Other management and team leaders are unable or unwilling to address the obvious problems with Scottrade's project managers.

    Advice to ManagementAdvice

    You have a talented group of software developers - they are NOT the reason projects are always late.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2.  

    Busy, fun, lots of learning opportunities and nice benefits.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Back Office Analyst  in  Saint Louis, MO
    Current Employee - Back Office Analyst in Saint Louis, MO

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

    Pros

    Benefits, work environment, the company does a good job of valuing your contribution through workplace programs, good benefits, and bonuses, but...

    Cons

    Salaries seem on the low side, but it's hard to compare due to the perks and benefits.

    Advice to ManagementAdvice

    None, keep doing what you're doing, but try to get IT out of silos and cooperating better, both with each other and the business end of the company.

    Recommends
    Positive Outlook
    Approves of CEO
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