Scottrade
3.4 of 5 393 reviews
www.scottrade.com Saint Louis, MO 1000 to 5000 Employees

Scottrade Reviews

Updated Apr 10, 2014
All Employees Current Employees Only

3.4 393 reviews

                             

82% Approve of the CEO

Scottrade Founder, President, and CEO Rodger O. Riney

Rodger O. Riney

(318 ratings)

71% of employees recommend this company to a friend
393 Employee Reviews
in

Review Highlights

Pros:
  • "The work/life balance is great--I never put in longer than an 8-hour day"
    in 35 reviews
  • "It's also a great place for young college grads to get resume experience"
    in 30 reviews
Cons:
  • "Small office environment, lack of growth/promotion unless willing to move to St"
    in 24 reviews
  • "Not much room for advancement once you start in the branch"
    in 20 reviews
  • Show more review highlights

Reviews

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Approves of CEO

2 people found this helpful  

branch intern and branch stockbroker

Stock Broker (Current Employee)

I have been working at Scottrade full-time for more than 5 years

ProsI spent 5 years with this company. I was lucky to work with a manager whom trained me and helped me learn about the industry. Good company to get some exposure and licenses. Not a lot of pressure. The people surrounding me kept me there as long as I was there ( my direct manager).

ConsHeadquarters does not have a feasible direction. The competitive advantage for this company is gone. Senior management is stuck in its old ways or chasing innovation/ copying what other firms do. When I pushed to grow with the company, I was shot down in regards to requesting additional licensure. I was in a two person branch so it would have been helpful to have licensure while the manager was out to not have to jump through hoops to do everything. I ended up leaving because I felt I was being over being over worked without any opportunity to move up in the company.

Advice to Senior ManagementHopefully they have changed something or got rid of some people. Stop chasing away all the good employees and keeping the crap. Everyone that can leave will.

– I'm not optimistic about the outlook for this company

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

2 people found this helpful  

Company lacks integrity, at the highest leadership level.

Branch Associate (Current Employee)

I have been working at Scottrade full-time for more than 8 years

ProsIt was a job for several years but I could always see there was no commitment from the company. Benefits were average for industry. I wish there was something positive to say about this company--just deception.

ConsRecently added management contends that they came to Scottrade for the corporate culture however we have been trained into the corporate culture of TD Ameritrade, in fact the big question recently has been when are we changing the sign on the wall to reflect the new name after the acquisition. Does middle management think they have a future with the "restructure"? You are unnecessary now and getting more so each day. This seems to be a great place for interns but this company lost its way with decades of incompetent ownership/leadership.

Advice to Senior ManagementSee you out in the job market. Recognize now that you will not be taking any marketable skills or level of success with you as your position at Scottrade carried little more than a title, Mr./Mrs regional, jr vice, sr vice, president of the assistants to the associates, or whatever. Cheers!

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         

 

Intern

Anonymous Employee (Former Employee)

I worked at Scottrade as an intern for more than a year

ProsEasy way to get through and good to have on resume. Slow but self-motivate places.

Consi didn't see much of room to grow, if you are young go somewhere else.

Yes, I would recommend this company to a friend

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

2 people found this helpful  

Great place to work if you have no aspiration.

Branch Manager (Current Employee)

I have been working at Scottrade full-time

ProsIf you have a good staff, working here can be enjoyable.

ConsStaff cut back so much that there is no flexibility, sub average wages = high turnover. Constantly changing job description, many redundant layers of management reminiscent of the movie Office Space, many are not qualified. Most people are looking for another job.

Advice to Senior ManagementDo actual forecasting, the reason the company got this bad is many branches were opened HOPING for a market turn around, instead of preparing for market conditions. The growth was forced, not organic, fueled by ego and not demand. Ever heard of David Pottruck?

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Approves of CEO

 

Branch Intern

Anonymous Employee (Former Employee)

I worked at Scottrade as an intern for more than a year

Prosgreat atmosphere; great team environment; down to earth people; all encouraging; high learning curve (good because you'll learn something everyday and not end up complacent); set work schedule (i was limited to 25hr/wk, so i just worked 8hr days, 3x a week)

Consemployees informed me that they use about 10% (if that) of knowledge from their series 66 license, which told me that it's far from I.B. or anything like wall st. bad boys (not that theyre on the same level to begin with, of course). not so much con to be honest bc as an intern, you learn almost everything a broker (now called investment consultant) does minus place trades, talk about certain topics (i.e. margin, options, sign-off on paperwork).

Advice to Senior Managementclose the bridge between branch and HQ (there's currently no room for growth since it's either be at the branch or end up in St. Louis for HQ positions)

– I'm optimistic about the outlook for this company

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

1 person found this helpful  

If you're looking for a Career Path, don't bother

Manager (Current Employee)
Saint Louis, MO

I have been working at Scottrade full-time for more than 3 years

Proswork/life balance is okay. If you're looking for steady work in the industry and you're in a decent branch, it's okay. If you have no career aspirations beyond branch manager, then this may be the company for you. If you genuinely like helping customers - it's okay.

ConsNo advancement beyond branch manager. Corporate culture is insular - people are promoted due to friendship not skills or experience. Majority of middle and senior management are in over their heads. However, even though your Series 7 license allows you to actually help a customer choose investments, Scottrade has decided you're not capable of it - so they've hired some young turks who sit in St. Louis, who don't have any experience telling older folks with money how to invest it. That's where I want to send my parents!!

Advice to Senior ManagementThey're not listening. Too busy going to Blues Games, bowling - taking pictures of all the Corporate people having fun at events at the Scottrade Center when the rest of the poor slobs at the branches have to grin and bear it.

Compensation is improving but only if you have sales skills. Benefits are adequate - not even close to the best in the industry. No etf's in the 401K plan. They've finally improved the vacation benefits to match the rest of the industry.

Training is completed by what I can only guess are ex-kindergarten teachers. It is not professional training for financial professionals but dumbed down to the lowest common denominator. Considering some of the folks that have been hired from TD with limited experience plus the young Turks - maybe that's appropriate.

No, I would not recommend this company to a friend

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         

 

Fake Experienced QA Personnel gets hired frequently

Applications Developer (Current Employee)
Westminster, CO

I have been working at Scottrade full-time for more than 3 years

ProsGreat company to work for.

ConsBad decisions are being made frequently to hire QA who fake experience and hired as Senior App development support and/or Senior QA Engineer.

Advice to Senior ManagementPlease do a detailed background check for IT Quality Assurance Analyst (QA) jobs as people who are being hired fakes their experience by showing out of state, non-existent companies aboard, and elsewhere. Almost the hires we made last few years are those who have worked as Babysitters, Groceries clerk, Administrative Assistant with no real IT experience. This will hurt our reputation to manage and provide exceptional service to our customers who trust our trading experience.

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         

1 person found this helpful  

Stock Broker

Anonymous Employee (Current Employee)

I have been working at Scottrade

ProsGood firm to start your financial career

ConsLack of training and managers who knows as much as you do

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

2 people found this helpful  

Starting job not a career.

Stock Broker (Current Employee)

I have been working at Scottrade full-time for more than 3 years

ProsBiweekly paycheck. Weekends off and paid holidays. Good place for interns and trainees. Little to no experience is required.

ConsOver worked and under paid. No support from upper and middle management and favoritism is very common. Branch managers and consultants are treated like second citizens and explanations are giving by upper management like you're a little kid.

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Approves of CEO

 

Paper Pushing & Asset Gathering

Investment Consultant (Current Employee)
Cincinnati, OH

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

ProsVery reasonable hours and vacation time. New emphasis on asset gathering can be potentially rewarding. If you like your co-workers, it's not that bad.

ConsBoring. Emphasis on asset gathering can also be a curse if you don't like sales. Scottrade seems behind the times in terms of technology and product offerings, but that may be changing with new management.

Advice to Senior ManagementSeems to be moving in the right direction, but not fast enough.

No, I would not recommend this company to a friend

Was this review helpful?
Yes | No
Add Employer Response Flag Review
RSS Feed Embed

Worked for Scottrade? Contribute to the Community!

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

Glassdoor is your free inside look at Scottrade reviews and ratings — including employee satisfaction and approval rating for Scottrade CEO Rodger O. Riney. All 393 reviews posted anonymously by Scottrade employees.