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

Scottrade Reviews in St. Louis, MO

Updated Mar 21, 2014
All Employees Current Employees Only

2.9 75 reviews

                             

68% Approve of the CEO

Scottrade Founder, President, and CEO Rodger O. Riney

Rodger O. Riney

(63 ratings)

52% of employees recommend this company to a friend
75 Employee Reviews Back to all reviews
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VP

Vice President (Current Employee)
Saint Louis, MO

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

Prosbenefits good; major new areas being built out following restructuring, so can expect to rise with the tide if you are in the right area (product development, call center). Access to executives at HQ is remarkable - impossible in most other firms

Conssalaries are low; a discount broker, so discount in every sense; S/T is fighting for its life to remain competitive and has a small window to achieve this before the big boys make trades free; S/T needs to free itself from dependence on trading commissions before it can breathe freely; this is the crawl-before-walk stage for the firm;

Advice to Senior Managementanticipate rather than react

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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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

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Marketing position

Marketing Analyst (Former Employee)
Saint Louis, MO

I worked at Scottrade full-time for more than 3 years

ProsWork life balance is great

ConsManagement is incompetent and out of touch

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

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Not for Experienced Software Developers

Software Developer (Former Employee)
Saint Louis, MO

I worked at Scottrade full-time for more than a year

ProsStraight 8 hour shifts, fairly secure (for now). The work environment is generally not stressful, though this can change periodically for short periods of time because project management is often poor, causing bottlenecks and temporary resource constraints. Probably a good place for a developer straight out of school to get a year's experience and move on.

ConsIT management is mostly comprised of old-timers who are not qualified to lead in a company that's grown to this size. Minuscule issues will often escalate to VP levels (or above) in a matter of 4 hours or less, and *will* be micromanaged, no matter how small the issue. Management is so risk-averse as to paralyze development; it can sometimes take six months of maddening QA testing and code reviews for code to hit production. Meetings are obscenely overstaffed, often on phone conference lines (even though people are in the same building). If you develop software and like it, you might want to look elsewhere, because most of your time here will be spent in phone conferences trying to explain what's going on to PMs, QA people, managers, etc.

Advice to Senior ManagementHire some management that have done IT in large organizations. Take some risks and quit trying to code review and QA everything to death (it's not really working anyway). Don't think that hiring more developers and trying to use Agile techniques are going to fix problems that come from higher up the org chart.

No, I would not recommend this company to a friend

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Scottrade is paying HR employees to give the 4 and 5 star reviews. Don't necessarily believe those.

Advisor Services (Former Employee)
Saint Louis, MO

I worked at Scottrade full-time for more than 5 years

ProsGood work life balance. Some nice people mixed with some very political back stabbers. Above average 401(k) match. They work hard to make themselves look good in the media, buyer beware.

ConsUpside will not be based on performance. The managers promote their friends, and sometimes these folks were poor performers and dishonest. Professional people generally end up frustrated. The upper management uses them to fix their issues and then fires them. They love making departments part of their call center. They do not want key employees, if they think you are becoming too valuable, they get rid of you. Very fickle senior management. Its best to just execute their ideas and not to add your own. This is Rineys hobby, and he wants to do it his way. He does not care if it fails. He drives professionals crazy this way. Micromanagement is their way. Company prefers untested and unproven puppets to proven professionals. They have no problem misrepresenting your performance to get you fired. They have no problem making misrepresentations to the media to make themselves appear more successful. Watch your back and do not believe the hype.

Advice to Senior ManagementThe most successful companies surround themselves with the best people. Have you?

No, I would not recommend this company to a friend

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Great place to work for!

Intern (Current Employee)
Saint Louis, MO

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

ProsVery family oriented and works very well with school schedule.

ConsThere really aren't any.

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Growing pains

Legal/Compliance/Fraud (Current Employee)
Saint Louis, MO

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

ProsBig company benefits, with a small company feel. Flexible hours and generous time off. They like to promote from within.

ConsThere is a little nepotism in the form of higher-ups children working for the company. The promoting from within leaves the company lacking fresh ideas and outside perspectives.

Advice to Senior ManagementGet more engaged with the boots on the ground. A five minute survey once a year doesn't cut it. Then, LISTEN to what those boots on the ground tell you.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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A good place to get experience for your resume

IT Position (Current Employee)
Saint Louis, MO

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

ProsCo Workers are great
The work atmosphere is pretty relaxed
You can gain a lot of experience in a short time

ConsPay is horrible, especially for employees who have worked their way up in the company
Long hours, especially while on call
Work/life balance is horrible
Many people who work hard and do a great job are not recognized for that hard work
Micro Management
Out-of-touch management - Many have no clue what their employees actually do

Advice to Senior ManagementHire/promote people into management that are qualified,not just because you like them or they have been with the company for a long time. Pay your loyal employees what they are worth, or they won't be too loyal anymore. Give more recognition for a job well done.

Yes, I would recommend this company to a friend

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Not for professionals

Sockbroker (Former Employee)
Saint Louis, MO

I worked at Scottrade full-time for more than 10 years

ProsEasy 8 hours shifts for the most part. Easy learning curve. The 401(k) match is above average. A pretty good place to get your feet wet in the industry.

ConsLimited advancement. No professional development or designations encouraged. Questionable honesty and integrity of management and senior management. Senior management likes to take on new business ventures and then quickly shut them down if once they realize they have to put the proper resources in place. Micromanagement. Sharing of different ideas is discouraged/punished. Bonuses in decline for years. The buddy system of advancement is preferred over performers. Most business units are handled like a call center. Limited business sense by senior management.

Advice to Senior ManagementYou have reached your plateau, sell the company. Quit firing your best talent. Quit telling people that you don't have layoff's, because you fire people or ask them to resign instead. Quit going into business ventures that you will not provide the necessary resources to succeed. Put qualified people into positions instead of your buddies, the buddy system creates limitations.

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

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Experienced People Shouldn't Waste Their Time Here

Middle Management (Current Employee)
Saint Louis, MO

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

ProsThe work/life balance is great--I never put in longer than an 8-hour day. I suggested it once, and my boss discouraged it. If you're looking for a place to "nest comfortably" while you tend to other areas of your life, this is the place. It's also a great place for young college grads to get resume experience.

ConsIf you have ANY experience in your field, it's probably more of a threat to upper management than a plus. The exec team has developed a case of paranoia that is beyond belief. Well meaning employees attempting to offer help are reprimanded for not being supportive enough. Questions about how changes will be implemented are seen as threats. Succeeding at this firm has nothing to do with the quality of your work--it has everything to do with how smart and pretty you can make your executive feel.

Advice to Senior ManagementThere's no need to bother--they don't listen.

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

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Glassdoor is your free inside look at Scottrade reviews and ratings in St. Louis, MO — including employee satisfaction and approval rating for Scottrade CEO Rodger O. Riney. All 75 reviews posted anonymously by Scottrade employees.