Scottrade

  www.scottrade.com
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Scottrade Reviews

Updated August 18, 2014
Updated August 18, 2014
442 Reviews

3.0
442 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Scottrade Founder, President, and CEO Rodger O. Riney
Rodger O. Riney
352 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

Sort: Popular Rating Date
  1.  

    Branch Intern

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

    Pros

    great 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)

    Cons

    employees 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 ManagementAdvice

    close 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)

    Positive Outlook
    Approves of CEO
  2. 3 people found this helpful  

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

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

    Pros

    work/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.

    Cons

    No 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 ManagementAdvice

    They'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.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  3.  

    Fake Experienced QA Personnel gets hired frequently

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Applications Developer  in  Westminster, CO
    Current Employee - Applications Developer in Westminster, CO

    Pros

    Great company to work for.

    Cons

    Bad 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 ManagementAdvice

    Please 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.

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  5. 2 people found this helpful  

    Stock Broker

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

    Pros

    Good firm to start your financial career

    Cons

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

  6. 4 people found this helpful  

    Starting job not a career.

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

    Pros

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

    Cons

    Over 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.

    Neutral Outlook
    Disapproves of CEO
  7.  

    Paper Pushing & Asset Gathering

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

    Pros

    Very 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.

    Cons

    Boring. 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 ManagementAdvice

    Seems to be moving in the right direction, but not fast enough.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  8.  

    Great internship experience

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

    Pros

    Introduced me to the financial services industry. There was regular performance feedback. The managers were nice and competent. Overall a very good experience.

    Cons

    As an intern, I had to do more administrative work than I would have liked, but the training programs definitely made up for it.

    Recommends
    Neutral Outlook
    Approves of CEO
  9.  

    Great experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Intern  in  Tampa, FL
    Current Employee - Intern in Tampa, FL

    Pros

    Great place to get experience about how the market works. If you are new to investing they help you learn what all the investment products are and how they work. Lots of opportunities for hands on learning with dealing with clients and how the office is run on a day to day basis.

    Cons

    Even though compensation is getting better for full time employees, interns are not as lucky. Bonus structure leaves interns out and a lot of times hard work goes without merit.

    Advice to ManagementAdvice

    Work on more programs for interns to be a part of the incentive program. One of reasons that the company started to be complacent was the lack of incentive to work harder for the brokers. Interns are an asset to the branches and the company so including them in the program in some way would create more incentives for the interns to go above and beyond their set duties.

    Recommends
    Positive Outlook
    No opinion of CEO
  10.  

    Great place to work but mananager can make life hell

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

    Pros

    Easy work, very good work eithic taught in training, company really does wanna help people

    Cons

    Awful branch politics, basically manager is the bully that gets to pick on everyone. Office's are usually 3-4 brokers. Upper managemenent wont give a sh*t about you but HR might help.

    Advice to ManagementAdvice

    Have more communication with branches and branch managers

    Doesn't Recommend
    Negative Outlook
  11.  

    Great place to work

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

    Pros

    Care about your skills and knowledge

    Cons

    Need to relocate to excel

    Recommends
    Positive Outlook
    Approves of CEO

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