There are newer employer reviews for Scottrade
There are newer employer reviews for Scottrade

See Most Recent

Helpful (16)

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

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

I worked at Scottrade full-time (More than 3 years)

Doesn't Recommend
Neutral Outlook
No opinion of CEO
Doesn't Recommend
Neutral Outlook
No opinion of CEO

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 Management

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.

0 reviews filtered by
  • Any Location
  • Any Job Title
  • Any Status
  1. Busy, fun, lots of learning opportunities and nice benefits.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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 (More than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    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 Management

    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.


  2. Helpful (19)

    "Gets worse by the year..."

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

    I worked at Scottrade full-time (More than 5 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Good friends for coworkers. 401k match, wellness program, insurance benefits, free lunches on occasion.

    Cons

    Scottrade used to be a great company to work for until they hired someone from TD Ameritrade and decided to pretty much model after TD Ameritrade. Couple years ago the culture was very family oriented and you could tell they valued their employees and clients as people. Now most all the employees there are expendable and they basically want sales robots/drones. You are nothing more than human resources and the clients are seen as nothing more than how much money can they bring into the firm and make off them. You also have numbers each quarter to hit and if your not hitting above then you get a nice sit down interrogation from your manager about what needs to happen or they can boot you out the door. Also it seems they keep ADDING more requirements and duties every quarter and year! Used to be you take a phone call or help a walk in client and see what else you can do to help them and that was it for most part other than some reports and seminars. You could also get to know your clients pretty well and take little more time when needed. Now your required to be making phone calls more so than taking walk inns or inbound calls! They also seem to be adding more big brother tracking and monitoring software each quarter as well to their system. If it's not in the system it never happened they say. Wow well last I remember we never had to track anything and didn't even have a relationship database software. You got emails for leads and new accounts and you made a simple phone call and that was it. Meanwhile they say they have an incentive plan and that this is going to be Scottrade's best years to come. Yeah sure. Unless you somehow get lucky to work in the big city branches don't count on making much there in bonuses. I actually put in effort and still is hard to find people with money in this area and then they have to be willing to move it. The 401k match is actually really the only perk to get excited about other than benefit insurances. I also noticed Scottrade has gotten extremely cheap such as getting rid of the Wall Street journal for clients to read, cheaper boring black pens, non innovative website, ect. I recently paid a visit to another firm to move my 401k and open a brokerage account and it made me smile because looks like they are going to put Scottrade out of business. There was a HUGE branch difference. I'm not going to say which firm only that it's not TD ameritrade and it's definitely not Scottrade. This company is full of liars at the top and I can prove that per prior conference calls and what I've seen and heard. It NEVER used to be this way! Go back few years ago it was consistently in top 15-50 companies to work for, now as of recently this year it was rated 172. All in all if you want a high stress environment, like being micromanaged and criticized (even when working yourself tirelessly day in and day out) and wonder if you will have your job the next quarter then this might be the place for you.

    Advice to Management

    Good luck!


There are newer employer reviews for Scottrade
There are newer employer reviews for Scottrade

See Most Recent

Work at Scottrade? Share Your Experiences

Scottrade

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.