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Charles Schwab

Engaged Employer

Charles Schwab

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Charles Schwab Reviews

Updated Jul 27, 2021

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Found 3,283 of over 3,586 reviews

3.9
76%
Recommend to a Friend
88%
Approve of CEO
Charles Schwab President and Chief Executive Officer Walt Bettinger II
Walt Bettinger II
1,842 Ratings
Pros
  • "Provides Good Work life balance(in 250 reviews)

  • "Good company good benefits good 401k(in 158 reviews)

  • Cons
  • "Seems to have ceiling, some managers have poor work life balance(in 56 reviews)

  • "Upper-management can be inaccessible at times(in 55 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

    Ratings by Demographics

    This rating reflects the overall rating of Charles Schwab and is not affected by filters.

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    1. 5.0
      Former Employee

      Great!

      Jul 27, 2021 - Operations Associate 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great company. Great people! Awesome job.

      Cons

      None to note Great overall

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    2. 3.0
      Former Employee, more than 3 years

      It's a big place, your results may vary

      Jul 20, 2021 - Site Reliability Engineer in Austin, TX
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good opportunity to learn about fintech. If you're smart you eventually become mostly "irreplaceable". Plenty of opportunity to engage in a lot of different aspects of the business side if you're good at inter-networking. There are quite a few truly brilliant folks who have longevity with the company.

      Cons

      Heavy dependency on visa-workers means subject matter expertise can evaporate on legacy systems, leaving someone holding the bag. Innovation through automation is celebrated in conversation but won't manifest outside *your* personal jurisdiction of concern. Distrust of their own development staff leads to wonky procedures that ultimately get rubber stamped but cause significant overhead. Introduction of new pay tiers that ultimately resulted in a pay cut for (some) staff. When something doesn't make sense, it's probably politics. When you are now blocked today after getting the green light on yesterday, it's probably politics. The manager-led-forum that us schwunderlings receive their bonuses/compensation lends itself to the public speaking ability of their immediate manager - basically if your manager isn't good at it, you won't get a good raise.

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      3 people found this review helpful
    3. 5.0
      Current Employee, more than 1 year

      Rose colored glasses

      Jul 11, 2021 - Associate Broker in Westlake, TX
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good on boarding process. You will retain relationships that you make during that process. Depending on your team you may find some genuine friends. There are flexible with Holiday and Sick time. The Opportunities to obtain any FINRA Series license imaginable is available. You will look forward to signing on for work everyday if you have a good bond with some of your colleagues.

      Cons

      Putting for Vacation for the Prime Holidays like Thanksgiving and Christmas is Virtually impossible to book PTO during Thanksgiving or Christmas so family will be disappointed. You have to be an emotional punching bag for clients that have a high net worth. Lunches are only 30 minutes with two 15 minute breaks. Overtime is few and far between and is taken up quickly. Team members MAY through you under the bus if it isn't a tight nit group. I say all of this with Rose colored glasses as this is my first real job out of college so I have been "burned" yet. But I would still consider the things I listed as Cons to be valid points never the less.

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      1 person found this review helpful
    4. 4.0
      Current Employee, more than 1 year

      It is, what it is....

      Jul 26, 2021 - Client Services Representative Charles Schwab in Dallas, TX
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Pay for your licensing and pay better than most financial institutions. Management is interested in your growth and where you want to work within the company.

      Cons

      You have to pass the tests and licensing or else you won't have a job. About 1/3 of my class made it through everything. You will start at the bottom working in a call center no matter what they tell you. If you can't do that then you won't move up.

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    5. 4.0
      Former Employee, less than 1 year

      Schwab Cybersecurity Services is a circus

      Jul 14, 2021 - Senior Staff Engineer in New York, NY
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Schwab Technology Services and the business and financial departments seem to be ok. There are some really talented people and the company wants to move in the right direction technologically. Compensation is good and good advisory services for employees.

      Cons

      This is specifically for Cybersecurity Services: 1. There is a huge attrition rate, all good employees are leaving and the people that aren't advancing the company are staying behind 2. Leadership isn't challenging the updates and business decisions are made based on intuition/relationships rather than data driven 3. Leadership doesn't communicate strategy well Poor parental leave benefits

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      2 people found this review helpful
    6. 1.0
      Current Employee

      Growing by acquiring

      Jun 22, 2021 - Senior Manager Software Development Engineering in Jersey City, NJ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Giant company. Incredibly profitable. And, yes, of course they are hiring (because if any company posts even just one job opening, then technically they are "hiring").

      Cons

      They keep swallowing other companies whole, to where it now feels like we are all bogged down by far too much. This is during unprecedented times of record market activity. Client accounts, assets, data centers, technologies, products = all need to be migrated over. They plan to accomplish this by way of: far too many meetings, and entirely too much bureaucracy, and review boards. Everything feels top down, with way too many layers of management. But seems they have a solution to too many people... so, The worst part is they have been doing, and are committed to continue with: Quarterly cuts! - this is mostly to legacy TDA, but also legacy schwab staff as well, this will be for the next few years! They have repeatedly communicated that reductions will continue until a little after the TD Ameritrade conversion is completed. So, likely until ~ 2024! Really horrible atmosphere, and feeling overall. If you seek any sense of stability, or being valued by an employer as more than just some $$ number to them, then look elsewhere.

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      8 people found this review helpful
    7. 4.0
      Current Employee, less than 1 year

      Have to really want it

      Jul 25, 2021 - Associate Financial Consultant in Lone Tree, CO
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Cheerful, cohesive, and friendly environment with lots of great team members. They really do try to help you succeed and there's lots of opportunities for growth

      Cons

      Honestly you only succeed if this is the line of work you're passionate about, if you love investment brokering and client service then this is great for you. If not, you will not make it.

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    8. 4.0
      Current Employee, more than 10 years

      great culture limited mobility between jobs

      Jul 24, 2021 - Product Manager in Phoenix, AZ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      warm and fuzzy culture. ERGs are great. Cusotmer-centric focus means there is a lot of pride in working there.

      Cons

      career plateaus are severe. Jobs require 1-2 year commitments. You reach a certain seniority and unless you want to manage people, you've got no place to go.

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    9. 4.0
      Former Employee, more than 5 years

      Overall Great Company

      Jul 8, 2021 - Anonymous Employee in Lone Tree, CO
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great work life balance Strong company culture Great benefits

      Cons

      Pay is not competitive Opportunities for advancement become difficult and increasingly limited after entry level and outside of being on the phones

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      1 person found this review helpful
    10. 1.0
      Former Employee

      The worst financial services company I ever worked for

      Jun 1, 2021 - Financial Representative in Phoenix, AZ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      You will get a paycheck, and there are benefits. However, if you are a single parent with young children, and high medical bills , think twice. The Medical Plan is an HSA with a high deductible. Schwab did contribute $1,000 / year, but that is still way below the out-of-pocket max ( $5,000+ for family) . I personally saw several single moms struggle because of this. However, for a person who wants to reduce their taxable income, and can afford to max out the annual contributions, the HSA would be attractive.

      Cons

      Ever since the present CEO took over, salaries , and benefits, have been under constant attack year after year. Don't be fooled by a seemingly decent starting salary, and talk about a big bonus. You will quickly find that no matter how strong your performance is, your raises will be below par, and you never get the max bonus that was mentioned during the interview process. It is a classic "bait and switch strategy". The only way to truly get ahead is to keep getting promoted to higher paying positions. To get a true perspective, read the negative reviews, and avoid the one or two sentence positive reviews, they are planted by management, and the talent acquisition people. They truly know how to work the ratings system, and make this horrible company seem appealing. BEWARE!

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      9 people found this review helpful
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