Scottrade

  www.scottrade.com
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Scottrade Reviews

These reviews contributed towards 2012's Best Places to Work recognition. See ratings and reviews for all time.
28 Reviews

3.5
28 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Scottrade Founder, President, and CEO Rodger O. Riney
Rodger O. Riney
24 Ratings

Review Highlights

Pros
  • The work/life balance is great--I never put in longer than an 8-hour day (in 40 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 25 reviews)

  • no room for advancement unless you want to change your job title and keep doing the same thing (in 21 reviews)

More Highlights

Employee Reviews

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  1.  

    Tedious but otherwise easy job

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Oakland, CA
    Current Employee - Anonymous Employee in Oakland, CA

    Pros

    - Great noncompeting atmosphere
    - Team environment
    - Great PTO and benefit package

    Cons

    - Lack of advancement opportunities within branch associates
    - Ancient technology
    - Old school marketing and product offering
    - Everything blah....

    Advice to ManagementAdvice

    Stop all the unnecessary marketing programs and promote capable employees who has great ideas to take company to next level. Replace the aging system with new system to improve downtime.

    Recommends
    Disapproves of CEO
  2. 2 people found this helpful  

    Would be a great place to work if it wasn't so cliquish and supervisor wasn't so rude

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Work In IT In Westminster, CO  in  Westminster, CO
    Current Employee - Work In IT In Westminster, CO in Westminster, CO

    Pros

    Job security (never had a layoff)
    Reasonable work load
    Nice building/office/location
    Purple is a pretty company color
    Good benefits
    Private company, not trying to please stockholders
    Great CEO with integrity
    Interesting work
    Best new employee training of any company I know of
    Supervisor doesn't micromanage

    Cons

    The IT area I'm in is the MOST cliquish place I've ever worked. They have lots of new people (hiring like crazy in Colorado) and new people are pointedly excluded from lunches, after work gatherings, etc. The old-timers who worked there long before Scottrade assimilated CRI walk around openly inviting their favorite cronies to lunch and happy hours, never bothering to glance toward the newbies. It's the most exclusive and callous group of people I've ever worked with. What's really bad is that the Supervisor is the most cliquish and inconsiderate one of the bunch.

    Supervisor is horrible at his job too (though thankfully doesn't micromanage). He's inept, rude, and clearly doesn't want to be bothered with that icky old 'people stuff' that goes along with managing. He's gruff and impatient--borderline hostile--and has no time to help his staff, yet has plenty of time to take long lunches with his clique.

    Low pay, supposedly mitigated by quarterly bonuses.

    Can't work from home.

    Advice to ManagementAdvice

    Realize that IT is different from branches and HQ and can work effectively from home. Esp those in areas with severe weather. We shouldn't have to take a vacation day because we can't get to work after a winter storm (the current policy). We won't slack off any more at home than we do at the office.

    Pay better base salaries even if it means reducing bonuses.

    Be aware that the cliquish antics of the CRI veterans WILL drive people away from the company after they've had enough of being treated shabbily. CO has an excellent job market and people have alternatives.

    You need to monitor your supervisors to see if they're doing a good job, and see if they're treating their staff with respect. The guy I report to should not be a supervisor.

    Recommends
    Approves of CEO
  3.  

    Good experience working at Scottrade for 5 years

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Saint Louis, MO
    Current Employee - Anonymous Employee in Saint Louis, MO

    Pros

    Hard work will lead to advancement as long as you prove knowledge in your subject matter.
    Many areas are open to enhancements as long as methodical proven steps are used to reach goals.

    Cons

    Experience input is sometimes unreasonable or lacking in a business sense
    Project process while workable can be cumbersome and lengthy
    IT tends to dictate to the business

    Advice to ManagementAdvice

    IT needs to completely understand brokerage and work with the business regularly
    Senior Management doing a good job informing all levels regarding the state of the business.

    Recommends
    Approves of CEO
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  5.  

    Slowly getting less and less Great

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Stockbroker  in  Saint Louis, MO
    Current Employee - Stockbroker in Saint Louis, MO

    Pros

    Roger is great and his ethics and attitiude really flow within the rest of the company. I have been in full service before and this job is MUCH easier. No stress at all except for the occasional jerk of a client. I would say we get paid fairly for the work we do, which is pretty dam easy. I don't know why so many people here are complaing about the pay, if you dont like it then go cold call or go door to door in full service or go to TD or Fidelity and get treated like a number and have no job security. Overall, this is a great company to work for!

    Cons

    Starting to get more and more decentralized. I get the feeling that some people are looking for ways to validate their job. The culture is becoming more and more "un-scottrade like" and more like (cough) Ed Jones. Some BOMS are great, others are hated by their employees. WAY to many people work at the branches including too many interns, 85% of the time I am looking for stuff to do. I would say I only do about 2 hours of real work a day. This company just looks for excuses to spend money.

    Advice to ManagementAdvice

    Be more consistent about the type of people you hire to be BOM's. Cut about 25% of the workforce from the branches, there just is not enough work to go around. Stop the wastfull spending on everything from 5 million internet ads, remodeling perfectly good branches, and all the other things that people are doing just to validate their job as I said before.

    Recommends
    Approves of CEO
  6. 5 people found this helpful  

    A learning experience to never be forgotten.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - EUT  in  Saint Louis, MO
    Current Employee - EUT in Saint Louis, MO

    Pros

    Scottrade is a great place to start your career. If you can put in 3 or 4 years, you will be able to gain enough knowledge and skill to find a better place of employment. Scottrade has a good name in the IT industry here in Saint Louis, but it is not a place that one would want to remain for any length of time.

    Cons

    Starting with the management at the bottom of the rung and moving up to the top of the ladder, incompetence best describes the managerial style at Scottrade. Many of the supervisors and managers have been promoted from within only because they are willing to work for so much less. Those that are hired from outside the company are tasked with ways to boost moral or make changes based on previous experience but when they try, they are told no or "that's not how we do things here." Senior management does not have a clue as to what certain departments do; what their functions are.

    Moral is very low throughout IT. Most of this is salary & work/ life balance. Executive management tells us in meetings that Scottrade is not a 9-5 job and that if we don't like it, then "you should leave and find employment else ware." They then tell us that the "grass isn't greener on the other side." It is incredibly offensive and insulting to hear this on such a regular basis. How elitist of them to treat the associates in such a manner. The salary is very low as well. They expect salaried employees to work 55 hours a week but they don't compensate them for the overage. Hourly employees who work over are told "well at least you get paid overtime." Again, offensive. You are told that a quarterly bonus makes up for some of the lack in salary as it is performance based; the better performance, the better the bonus. Bonuses have been going down for years and the last one was merely a couple hundred dollars. When your salary is 1/2 of what the market standard is and the bonus is to make up the difference, a couple hundred does not make up for it.

    The politics of the environment play an important role insomuch that you find yourself doing and saying things just so that you don't get written up. You have to "play nice" with your direct supervisors who do not know how to manage; they have no previous managerial experience nor do they get the proper training.

    The best way to describe how the IT department that I work in works is to say that it is bush league. It is the little league of the IT world and this is made obvious by so many people leaving the company. In the past year, a couple dozen of the top, best IT employees, have left to find better, higher paying jobs. All of them that I know and have spoken to, have found better places to work. One just didn't want to put up with the insulting conditions anymore and is not working at all.

    As the economy improves, the firm is going to be faced with a challenge of retaining the employees that it has. I only speak for the IT side of the firm. I have heard that things are better on the business side.

    My advice to anyone who seeks employment with us is to, if offered the job, ask for a high wage and hope that they give it. If they do, know that you are being paid to put up with the BS. If they don't, then just walk away. It isn't worth it.

    Advice to ManagementAdvice

    Show compassion. Don't be so obtuse. Learn what it is that the associates below you do. Fire the incompetent managers and supervisors. Show us that you care about us and about our work/ life balance.

    Doesn't Recommend
    Disapproves of CEO
  7.  

    Presently keeping options open

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Saint Louis, MO
    Current Employee - Anonymous Employee in Saint Louis, MO

    Pros

    Great Place to expand knowledge

    Cons

    Salary is low, Promotion from within,

    Doesn't Recommend
    No opinion of CEO
  8. 1 person found this helpful  

    good if you like to push paper, good place to start, not for the ambitious

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Stockbroker  in  White Plains, NY
    Current Employee - Stockbroker in White Plains, NY

    Pros

    ok health, vision, & dental insurance, pay for 4 months of gym membership per year (up to $250 or $400 I believe), gave $50 american express gift cards as a holiday gift for 2010

    Cons

    call center type atmosphere, not for the ambitious, do A LOT of paperwork, help clients who really shouldn't be trading

    Approves of CEO
  9.  

    ok

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Intern  in  Smyrna, GA
    Current Employee - Intern in Smyrna, GA

    Pros

    scottrade is a stable company

    Cons

    there are no benefits for interns

    Advice to ManagementAdvice

    none

    Approves of CEO

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