Charles Schwab Director Reviews | Glassdoor

Charles Schwab Director Reviews

Updated March 26, 2017
81 reviews

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Director

2.7
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Charles Schwab President and Chief Executive Officer Walt Bettinger II
Walt Bettinger II
36 Ratings

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  1. Helpful (3)

    "Managing Director"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Managing Director in San Francisco, CA
    Former Employee - Managing Director in San Francisco, CA
    Positive Outlook
    Approves of CEO

    I worked at Charles Schwab full-time (More than 10 years)

    Pros

    Great business model. Clear vision/strategy

    Cons

    Limited career growth. Location strategy has been dragging on for 10+ years. Culture is changing , not for the best, as new technology management is brought in


  2. Helpful (6)

    "Some areas are great, others not so much. It all depends on where in the company you work."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Managing Director, Third Party Risk Management in Lone Tree, CO
    Current Employee - Managing Director, Third Party Risk Management in Lone Tree, CO
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at Charles Schwab full-time (More than 3 years)

    Pros

    You get a 4 week paid sabbatical every 5 years you work. Free financial consulting for all employees. There are a ton of really great people that work here. The CEO is the real deal.

    Cons

    Don't work at the Bank (Charles Schwab Bank). The leadership team is driven by emotion. Systems are terribly antiquated with very little appetite to invest further. Most processes are very manual, but as the Bank continues to grow staffing for those processes doesn't keep pace leaving existing staff to pick up the slack by working longer and longer days.

  3. Helpful (8)

    "Techical career killer company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Director in Austin, TX
    Current Employee - Director in Austin, TX
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Charles Schwab full-time (More than 5 years)

    Pros

    Work life balance is good

    Cons

    1. If you are a technical person and want to advance your career, the company is ten years behind technologically. They still use a mainframe around which they do everything.
    2. The management does not value technical people. If you are technical, you are treated as a second class citizen. This is a money making financial business and always looks at the bottom line.
    3. Schwab has very questionable morals. They encouraged their employees to vote for Trump. They do not encrypt their customers information as they send it to India for example, and overall their marketing says one thing, and the management does another. They gouge their customers any way they can. They do not believe in building relationships.
    4. There is conflict of interest in this company. They offer financial advice that is borderline illegal because it is skewed towards their own financial products. Of course they have an army of lawyers that makes sure all is covered in the small print.
    5. Upper management in technology are not technology people. They are great politicians but most of them have never worked in technology. As a result, technology is not understood and innovation comes from vendors only.

    Advice to Management

    This is a marketing company. Be honest to people about what they are getting into.


  4. "Ethical and Customer-Focused Financial Services Firm"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Managing Director in San Francisco, CA
    Former Employee - Managing Director in San Francisco, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Charles Schwab full-time (More than 10 years)

    Pros

    The executive leadership at Schwab is very focused on meeting the needs of millions of ordinary investors, delivering value and excellent service experiences. This mission infuses the entire firm and makes most employees very proud to be "Schwabbies".

    Cons

    As in any large organization, especially one operating in the very low interest-rate environment that we've had in the US since 2008, there is sometimes a mismatch between tasks and the resources, tools, and personnel assigned to carry out those tasks. At Schwab this meant that bonuses and raises were pretty paltry, opportunities for advancement were somewhat limited, and the company consciously determined to eliminate or move thousands of jobs out of San Francisco, the high-cost location of its headquarters.

    Advice to Management

    Stay focused on how Schwab meets the needs of ordinary investors, keep as much transparency as possible regarding how the firm makes its money, and motivate your employees by ensuring that they share in a real and significant way in the firm's success.


  5. Helpful (6)

    "Very political."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Managing Director in Lone Tree, CO
    Current Employee - Managing Director in Lone Tree, CO
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I have been working at Charles Schwab full-time (More than a year)

    Pros

    Free retirement advice and trading discounts . New modern facility. If you want a safe place to park until retirement and you don't question how things are done, then this is the place for you. Typical working environment for financial service, banking or insurance.

    Cons

    Rated best place to work by the employees that are just waiting it out to retire. In management you are strong armed to give highest ratings on survey.

    Advice to Management

    Be competitive with other employers that support work life balance


  6. Helpful (1)

    "Executive level hire"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Managing Director in Lone Tree, CO
    Former Contractor - Managing Director in Lone Tree, CO
    Doesn't Recommend
    Negative Outlook

    I worked at Charles Schwab as a contractor (Less than a year)

    Pros

    CO and TX offers low cost compared to CA with highly diverse and well educated workforce. With good universities and a growing economy these new locations would definitely offer competitive human capital which is helpful to quickly scale, diversify and attract well qualified candidates.

    Cons

    With several senior decision makers including HR sitting in CA, it'll be hard for Charles Schwab to imagine they would hire well-rounded & qualified people who may someday take away their jobs!

    Advice to Management

    Try NOT to involve your HR Leaders (!) based in California in hiring decisions for HR & other leadership positions in CO & TX, while they fear they may potentially lose their own jobs. Set a time line and ask your HR leaders in CA to either move to CO or TX or take a severance and leave. They are your bottlenecks for expansion.


  7. Helpful (2)

    "It was not all bad"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Managing Director in Chester, NH
    Former Employee - Managing Director in Chester, NH
    Positive Outlook
    No opinion of CEO

    I worked at Charles Schwab full-time (More than a year)

    Pros

    Good people, locations, and team work. Different divisions worked well together

    Cons

    salary was not competitive with the industry - did not encourage out of the box ideas or methods
    inflexible not supportive of remote or mobile employees

  8. "Great place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Managing Director in Phoenix, AZ
    Current Employee - Managing Director in Phoenix, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Charles Schwab full-time (Less than a year)

    Pros

    Bonus, stock, and merit increases are very good for highly successful empliyees. Company culture is laid back, most folks are very nice.

    Cons

    Understandable, but investment in technology has been lackluster.

    Advice to Management

    Invest in internal and external mobile much more.


  9. "Managing Director, Schwab Technology Services"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Managing Director, Schwab Technology Services in San Francisco, CA
    Current Employee - Managing Director, Schwab Technology Services in San Francisco, CA
    Recommends
    Positive Outlook

    I have been working at Charles Schwab full-time (More than 8 years)

    Pros

    Integrity, Collaboration, culture, professionalism, fairness

    Cons

    Consensus decision making can be slower, Moving most staff out of San Francisco


  10. Helpful (2)

    "Great experience after 9 months"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Technical Director in Austin, TX
    Current Employee - Technical Director in Austin, TX
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Charles Schwab full-time (Less than a year)

    Pros

    Strong ethics -- doing what's right.
    Good work/life balance.
    Interesting technologies
    Progressive senior IT leadership -- not afraid of change.

    Cons

    @Vacation time is separate from Sick Time -- unlike most companies who have "PTO". If you're never sick, you have limited time off each year.
    @high deductible health insurance.