There are newer employer reviews for TD Ameritrade
There are newer employer reviews for TD Ameritrade

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Helpful (8)

I Didn't Know Hell existed on Earth

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Financial Representative Broker in Fort Worth, TX
Former Employee - Financial Representative Broker in Fort Worth, TX

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

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

Pros

Good medical benefit and I mean medical benefits only. Flexible schedule.

Cons

Where do I start? First, don't be fooled by the reviews from Omaha because their city lacks employers so there just happy to have a job. This companies philosophy is seduce you with advancement opportunities, but you never get compensated much for advancing. HR forgets to tell you about that part. I started out as a Financial Rep Broker who was already licensed, which pays from 35K to 43K. I got promoted a few times to other positions within the company, but each time I was promoted I would receive a $1,500 increase, which is a joke. This companies annual increases are usually 1-2%, which adds to your frustration that you don't get paid anything. My last position I was offered was a PCS Broker, which is the highest paid broker at TD. They told me I would only get a penny increase, literally .01 cent. I asked them why I would be ignorant enough to except the position for a penny increase, when it required more responsibility and more phone calls than the average broker on my team? Managements justification to me was that my job title name would change. That I should consider myself honored to have this title without pay. I declined the job offer. Management preys on the fact that the job market isn't good. There are 3 routes you can go to advance at TD. The first route is service, and the highest position you can have is a PCS broker. This job pays around 45K plus quarterly bonuses, but they bonuses are a joke for the abuse you take on the phones. The second route is sales, and the highest position you can have is an Investment Consultant. IC's make around 50K plus bonuses, but most of the time you don't blow out your sales, so you're stuck with this salary. Also, if you miss your sales goals 2 quarter in a row they let you go. The third route is management. This job takes an act of god to get, because you have to be the biggest brown noser on the planet. Also, you have to be under educated to have this job, and enjoy playing solitaire. If you have in MBA or a law degree don't even bother applying for a management position. Managers at this company always fear people that are educated, because they worry you'll take their job some day. The culture at this company is horrible. Everyone that has worked at this company over a year ends up hating the company. They keep cutting back on quarterly bonuses, but they say there going to increase the compensation you make through sales goals. This is an outright lie. If you're intelligent enough to do the math you'll realize you're getting cheated out of more compensation. I received numerous Presidents Club awards at this company, and it's their highest honor they can give to a person. I say this because I don't want people to read this post, and say oh this guy probably wasn't a high performer, that's why he's frustrated about the pay. In my 4 years at TD my salary only increased 7k. Compared to friends of mine that joined a competing firm in the area, I saw their salary increase over 30K in 4 years. I resigned at TD, and immediately got a 25k increase with another employer. Don't waste your time with this company unless you lack a college degree, like being paid peanuts, like taking 80-120 inbound calls a day or enjoy being micromanaged to the point of insanity. This place is hell on Earth.

Advice to Management

PAY YOUR EMPLOYEES MORE MONEY. When the economy gets better you're going to have a mass exodus. Then you'll only be able to hire under educated monkeys to grow TD.

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  1. Helpful (2)

    Solid company, limited growth opportunities

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

    I have been working at TD Ameritrade full-time (More than 3 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Lots of leads from corporate, existing clients and walk-ins. Nice office environment, great benefits, no nights or weekends expected or required to get job done.

    Cons

    Never build your own book. No trailing comp. No real client relationships. Clients often ask for stock picks or other advice that you cannot give.

    Advice to Management

    Expand product offering and role of IC. Create career path, not just a 2-3 year job.

  2. Helpful (2)

    Little Free-Thinking Welcome - Stay in the Box!!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Analyst in Omaha, NE
    Current Employee - Business Analyst in Omaha, NE

    I have been working at TD Ameritrade full-time (More than a year)

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

    Pros

    Excellent benefits, good pay (if you negotiate well at hire), and rarely did I have to work OT.

    Cons

    Like a lot of these reviews have said, middle management is a huge problem - and those above them may get a lot of the blame for encouraging this attitude with the rewarding of yes-men. I was actually told once that the new initiative I was working on would step on one of those middle manager's toes so I should stop. Many of us have many stories like this. You learn to just keep your mouth shut, toe the party line, do nothing outside the box, and look for another job if you'd like anything more from your career.

    I'm sure there are good areas to work and good managers at this company, but in two positions in different areas of the organization I saw the same thing. Remember that this is a company with a history of massive layoffs, so the people in charge are the people who made it through, and so are often those who managed to toe the line and not cause any waves. These are the people in management.

    Advice to Management

    "Innovation" is more than just a word you can paint on the walls or hand out in flyers. So many associates are having their ideas suppressed every day. Though you say this isn't the case, we all have seen multiple people let go because they dared to speak up or challenge the status quo (or challenged "the wrong person").

There are newer employer reviews for TD Ameritrade
There are newer employer reviews for TD Ameritrade

See Most Recent

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