Scottrade Reviews

Updated April 4, 2015
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2.4
120 Reviews
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Scottrade Founder, President, and CEO Rodger O. Riney
Rodger O. Riney
93 Ratings

120 Employee Reviews

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  1. Helpful (14)

    Doesn't really care about you

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Service Representative in Saint Louis, MO
    Former Employee - Financial Service Representative in Saint Louis, MO

    I worked at Scottrade full-time (less than a year)

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

    Pros

    Good place to start out in finance

    Cons

    Upper management is out of touch with everyone else. Pay is below average. Company allows clients to churn their own accounts, can't advise them not to do so.

    Advice to Management

    Ethics.

  2. Helpful (27)

    Handwriting on the wall?

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

    I have been working at Scottrade (more than a year)

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

    Pros

    Benefits still OK for the most part. Lowest levels of management (supervisors, managers) are good people but ham-strung by out-of-touch upper management people

    Cons

    Below-avg pay. Won't pay you what you are worth. Used to be strong team-oriented but now everyone has to cover their backsides with both hands. Used to be hands off but now micro managing is the new black. Everyone looking over their shoulder. Massive IT layoffs coming soon.

    Advice to Management

    Let managers and supervisors make decision that count not have to get approval for every little thing. Fire execs (ha ha that wont happen) b/c they don't care about anything just their own bonus. Used to be a b est places to work but now its just a job. PS social team - don't bother with any of your canned responses your not fooling anyone.

    Scottrade Response

    Mar 9, 2015Social Recruiting Team

    We’re sorry to hear you feel this way. We read these reviews on a regular basis and make every effort to respond to comments, as well as share them with the appropriate teams throughout the firm. As ... More

  3. Helpful (3)

    I LOVE this company!

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

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

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    The benefits are awesome! Some of the benefits include:
    An excellent 401K match
    Profit sharing bonuses
    $250.00 wellness reimbursement
    5% interest on associates checking accounts
    Adoption assistance
    3 WEEKS VACATION STARTING YEAR 1
    Sick time
    Tuition reimbursement
    Life/work balance
    Medical/Dental/Vision benefits (with an HSA company contribution)
    Paid volunteer days
    Matching donations to charities
    The list goes on and on......

    I truly enjoy working for such a great company! Scottrade really goes out of their way to make this the best place to work. I feel as though management gives associates the tools they need to succeed. There is also lots of room for growth and advancement within the company. I couldn't imagine working anywhere else.

    Cons

    I can't think of any.....

    Advice to Management

    Please keep up the great work!

    Scottrade Response

    Mar 19, 2015Social Recruiting Team

    Thank you for your review, and we are happy to hear you have had an enjoyable work experience at Scottrade.

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  5. Helpful (16)

    IT is nowhere near where it should be.

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

    I worked at Scottrade full-time (more than 3 years)

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

    Pros

    IT has access to some of the latest-and-greatest technologies. Decent pay and benefits. Some opportunities for advancement, especially within the lower levels of IT.

    Cons

    Scottrade management is often not willing to let IT actually use the latest-and-greatest technologies that they have already paid thousands of dollars for. Scottrade management is often not even willing to give IT workers widescreen monitors for mere hundreds of dollars (less than 1% of annual salary). Scottrade management apparently has no interest in allowing developers to do any work to improve code quality, reliability, or maintainability. Scottrade management apparently has no interest in allowing IT to do any work to become more productive, responsive, or reliable. Scottrade management does not include those who are most familiar with the technologies being used (individual IT workers) when making technology decisions.

    Scottrade management apparently wants to do everything possible to avoid risking personal blame ("don't make waves"), even if it obviously results in lower productivity and higher risk for the company as a whole. Then, when something unsurprisingly does go wrong, they are quick to find blame in individual IT workers (who sometimes tried to reduce risk in the first place).

    Advice to Management

    Work to bridge the huge gap between IT decision makers and individual IT workers. Involve those who are most familiar with the technologies being used (individual IT workers) when making technology decisions. It could easily result in increased productivity and system reliability.

    Do the right thing because it's the right thing--don't wait until external parties like auditors force you to do it. For example, make it so that no individual IT workers need to know the passwords for production accounts--I bet I and many other former employees still know many of them.

    Scottrade Response

    Apr 10, 2015Social Recruiting Team

    We appreciate your perspective and can understand the frustrations you felt during your time with Scottrade. In an effort to make improvements within IT, we have shared your suggestions with the ... More

  6. Helpful (19)

    IT in need of Overhaul

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

    I worked at Scottrade full-time (more than 5 years)

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    Benefits were good. My salary was competitive. Had a great Microsoft MVP to keep the C# Architects from totally destroying the production systems.

    Cons

    New folks won't fit in if they worked in other shops because they can see how badly things are managed. Architecture rules the entire design without appropriate expertise. They were interns 8-12 years ago with no outside experience. Database MVP left. Perception is created by bad politics. Reality, even with concrete proof means nothing to IT leadership.

    Advice to Management

    As much as I like Ian, it's time for Rodger to clean house. Gut your IT management. Bring in experienced software provider leadership. Promoting within to this degree creates too much inbreeding. The entire IT Org is diseased. And yes, this was taken to HR. No results. I now work with some of the HR folks a new place where we smile all day and thank God we are out of there.

  7. Helpful (20)

    Not a great place to be

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

    I worked at Scottrade (more than 3 years)

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    Pros

    I find the salary to be fair enough.
    Lots of free things, like winning tickets to stuff and a summer carnival.
    Intranet has a lot of useful information.

    Cons

    The raises aren't good. Given how much work everyone is putting in, they should be higher. It seems to be a common consensus that we would rather have higher raises and salaries as opposed to two lump bonuses each year. It would be nice to see the extra money every check instead of just twice a year.

    Everyone is overworked and the buildings are overcrowded. However, they won't implement a work-from-home format that would allow people to essentially share desks and cut down on the space needed for employees.

    There is no lunch hour, and you're expected to eat at your desk, which is why we have eight-hour days. They say it helps with work/life balance, but when I can't get up to relax my mind for a half hour, it just makes me more stressed out as the day goes on. Many people I've spoken to feel the same, especially since Scottrade is always trying to get us to think healthy. Studies show that eating at your desk isn't healthy.

    Communication and socialization with co-workers is highly frowned upon. They expect you to come in, be quiet, and get the job done so you can go home.

    All managers seem to be micromanagers. It's impossible to have any level of true autonomy based on how controlling they can be with your work.

    You're scolded when you do wrong, but you won't hear any accolades when you do well. Beware.

    Advice to Management

    Take a long look at how your managers are trained. Very few people seem to be fully satisfied with their superiors mostly because they have very little training and don't know how to support their employees. It makes for an incredibly frustrating environment.

    Scottrade Response

    Apr 6, 2015Social Recruiting Team

    We’re sorry to hear you were unhappy at Scottrade, but would like to address some of your concerns. We evaluate our compensation structure on a regular basis to ensure our associates are being ... More

  8. Helpful (22)

    THE TRUTH FINALLY

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

    I have been working at Scottrade

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

    Pros

    free covered parking at HQ?? really thats a perk wow new low...

    Cons

    very very low pay like even by St louis standards.

    Scottrade Response

    Mar 25, 2015Social Recruiting Team

    In order to address your concerns about pay, we want you to know that Scottrade performs annual compensation reviews using several industry-standard, third-party sources to ensure accurate alignment ... More

  9. Helpful (33)

    After many years here, I cannot wait to leave. Do yourself a favor and walk away now.

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

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

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

    Pros

    No different than what you can find somewhere else.
    Nice co - workers

    Cons

    There is a reason Scottrade has so many open positions. When I started working here I was told this is a place to start a career or simply coast by if you don't care. Sad, but this is true.
    Many people (mostly recruiters posting reviews) would like to say the change to a sales environment is the cause for so many unhappy employees. This is not the case, especially since there have been so many new employees since the sales process came into place.
    To begin with, management is SEVERELY lacking. There are a few good managers but they are held back by the poor ones. Everyone is worried about themselves, not the company and not the employees. Most of the employees truly want to do a good job, they simply have 0 leadership backing them.
    The amount of gossip, politics and back stabbing that has come into play here is appalling. The lack of professionalism is outrageous.
    HR could care less about you, because they are simply coasting through. They will not return your calls or emails. They are not there to help you, they are there to quiet you or quietly get rid of you, then ask you to waive your rights by signing a severance agreement that is insulting at best. You can expect a call about a month or two after you request one and they will inform you they are just now getting around to you.
    You cannot trust anyone, and it's sad that I was informed this on my first day. What's sadder is from watching what has happened to so many people, this is true.
    This company is full of very nice, well meaning employees who are being led by selfish, unprofessional, under qualified individuals who will make life difficult for anyone they need to in order to get their way. One exact quote I heard while in a meeting with a VP in head quarters was "I don't care about what they think they need, I care that they do what I want. Or I will fire them, let that be a warning to you all". That is mild for some of what I have seen, and very common.
    Middle office is a mess at best. There is 0 direction, 0 leadership, 0 respect and they have made things worse, starting from the top down. Luckily I left that department and things have gotten better. Again, it's not all of Scottrade, it's the abusive leadership that is running the show and it has NOTHING to do with sales.

    Advice to Management

    Roger, come back. Please. We need you to clean house and make this what it once was. And if you can't come back, then please stop giving us hope that you will so we know it's time to leave ourselves.

    Scottrade Response

    Mar 17, 2015Social Recruiting Team

    We regret to hear about your dissatisfaction. Many of the situations you describe are not in line with our company’s core values, and we certainly don’t want our associates to have this type of ... More

  10. This company is good to work for.

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

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

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    good benefit, good cafeteria, good people

    Cons

    lacking a promising career development

    Advice to Management

    promote people more

    Scottrade Response

    Feb 27, 2015Social Recruiting Team

    Thank you for your review. We encourage you to talk with your manager and/or Human Resources about future career opportunities.

  11. Helpful (26)

    Was like a family and second home. Turned into a toxic dysfunctional one.

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

    I have been working at Scottrade (more than 10 years)

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

    Pros

    The insurance benefits are great and you'll be hard pressed to find better. The bonuses are pretty great too though they have fallen dramatically within the last five years. Work/Life balance is great too. Casual dress. Work from home one day a week.

    Cons

    As one other review put it, IT is run by a narcissistic team comprised of the CIO and all of his cronies he brought into the company several years ago. If you're not with them or question anything they do in any way then you are treated as an enemy. Their greatest management tactic is to manage through bullying and fear creating a culture of yes men or employees who simply don't care or are so scared for their own jobs that they just tow the line.

    The rule of law at Scottrade is covering your backside and doing ridiculous amounts of administrative work even for the simplest of tasks.

    As a developer you'll be required to keep track of your time spent and tasks performed in not one but at least five different places including excel spread sheets and that's just the tip of the ice berg of crazy change management and process you'll have to deal with.

    There are far too many layers of approval needed to even change a misspelling on a web page. Tasks that should be simple collaboration between business owners and IT or just flat out IT internal tasks turn into elaborate orchestrations of bloat and mismanagement.

    Speaking of mismanagement, there are far too many layers of management at Scottrade. A simple flat structure of supervisor and manager would suffice in most departments. At Scottrade you have at least four layers past this. Scottrade is incapable of working or dealing with problems quickly due to the micromanaging chain of approvals needed for employees to do their job.

    Advice to Management

    Evaluate your senior IT management team before they ruin you. You're hemorrhaging good people some of which have been loyal employees to your firm for years. This should tell you something about the morale and mood in IT. It isn't just disgruntled employees. It's people who have finally had enough and see no other choice than to move on. The processes most IT employees have to endure are broken and archaic and just maddening. There is way too much work required in order to get the approval to do real work and as a result you're day by day losing your edge against your competitors.

    Scottrade Response

    Mar 17, 2015Social Recruiting Team

    We’re sorry to hear about the issues you are experiencing. Regulatory requirements have had implications on processes throughout the organization, which has affected some departments more than ... More

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