Charles Schwab Reviews | Glassdoor

Charles Schwab Reviews

Updated December 14, 2017
291 reviews

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Charles Schwab President and Chief Executive Officer Walt Bettinger II
Walt Bettinger II
139 Ratings

291 Employee Reviews

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Pros
Cons
  • very little flexibility with scheduling due to call center requirements (in 94 reviews)

  • Stresses work life balance and at times is not the most demanding (in 32 reviews)

More Pros and Cons

  1. Helpful (2)

    "Operations Associate"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Charles Schwab full-time

    Pros

    Not to many pros. You can get your series 7 after working there for 12-18 months.

    Cons

    Not a lot of opportunity to grow in your career. Very focused on micro managing.


  2. "Desperately needs to modernize technologically, technology team is not fully prepared"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate, Software Applications Engineer
    Former Employee - Associate, Software Applications Engineer
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    - Great pay
    - Great benefits

    Cons

    - Everything in technology is outsourced for cost cutting
    - Technology teams are vastly behind in process leaving serious issues in creating and maintaining software
    - Cost cutting is the number one priority of the technology org
    - Technology management seems to largely get the job from proving cost cutting rather than modernizing

    Advice to Management

    In technology the bone seems to have been picked dry. There's no more costs to cut. Now you don't even have the chicken dinner the client deserves.

  3. Helpful (6)

    "Understand the full scope for which you are hired"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Advisor Service Representative in Orlando, FL
    Current Employee - Advisor Service Representative in Orlando, FL
    Doesn't Recommend
    No opinion of CEO

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

    Pros

    1) Job security is at an all time high
    2) ample room for advancement if you want to spend a great deal of your time achieving the "industry licenses."
    3) good benefits
    4) adequate time off earned
    5) adequate sick time earned

    Cons

    1) you are basically working in a call center
    2) must toggle between 10 different computer systems throughout the day
    3) no time for educating yourself or others due to ridiculous number of phone calls
    4) must process challenging paperwork in between taking phone calls
    5) low pay scale for the work being expected
    6) many managers feel the need to micro manage their team

    Advice to Management

    1) stop putting the cart before horse. Start putting more focused training into employees prior to "we need you on the phones" is heard. The basic jobs learned at training are the simplest to do.
    2) streamline the internal website/s so reps can find a proper, thorough procedure for processing jobs in orderto gain efficiency and confidence without having to ask team leads or management.
    3) spend adequate time introducing and training on "new technologies" to your reps, so they are more comfortable explaining the process & procedures to the clients.


  4. Helpful (14)

    "Bullying and passive aggressiveness is fairly accepted here."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Software Engineer in Lone Tree, CO
    Current Employee - Senior Software Engineer in Lone Tree, CO
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    The name on your resume.

    Cons

    I have personally been bullied 3 times in my two years at Schwab, a first time in my long career. One of the VPs is actually widely known and considered "oh that just her". I have seen vindictive management at a number of levels. When I first started my employment I did recommend Schwab, I no longer woo individuals to come to Schwab. A standard joke is "we don't finger point, just make sure its someone else's fault". Project Management Group is a revolving door. Sadly I had hoped to finish my career here

    Advice to Management

    The key for you Walt is to replace your VP's and MD's. Your message down stops there.


  5. Helpful (2)

    "Risk Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Risk Analyst in Phoenix, AZ
    Current Employee - Risk Analyst in Phoenix, AZ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Great benefits with a great 401k!

    Cons

    Horrible leadership, they don't know how to run a department, doesn't help when there is a new director who was formally a manager that takes over and doesn't know a clue what there doing. They let the manager say and do whatever they want to there associates. So many people have gone to HR and nothing happens, they just tell the managers to fix it. Also horrible communication skills all through out the department.

    HUGE turnover rate!

    Advice to Management

    Listen to your employees when they give feedback to change a process that would highly impact the department. Be fair to all the associates and not have your favorites giving other people higher bonuses and incentive rates, but give it to those who work really hard, and are willing to do the job the right way.


  6. Helpful (4)

    "Contractor Conveyor Belt"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Austin, TX
    Current Employee - Anonymous Employee in Austin, TX
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    The pay is good. Do the work, go home. Excellent work/life balance.

    Cons

    No Passion:
    Job duties siloed and only apply to their internal corporate software tools-- no learned skills to further career growth. Everyone fearful of being laid off with impending software changes. With so many employees, there's very little to actually be done-- and since the field is corporate finance with emphasis on legal, innovation is met with opposition. Terrible campus at the Domain under LOUD construction at all times with parking constantly obstructed.

    No Culture:
    Employees don't even eat lunch together, let alone speak to each other. Full-time employees are treated well and can work from home whenever they want. Managers and directors do very little actual work. (There's an easy-going mask upfront with lots of politics behind closed doors.) Both salary and contract employees must log all their time on projects, and project error rates are tracked, which are under constant scrutiny.

    No Loyalty:
    Contractors are treated as less-than salaried employees, no matter how hard they work-- and they mostly like to hire contractors from overseas and give work Visas until they ship them back. Good luck getting hired full-time, because they prefer to rotate 12-month contracts instead of full-time hiring due to the “economic risk”. Departments rigorously interview alternatives for months before potentially hiring contractors to become full-timers.

    Advice to Management

    Get off your high horse.


  7. Helpful (8)

    "The two sides of Charles Schwab"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Business Analyst/Subject Matter Expert in Lone Tree, CO
    Former Employee - Business Analyst/Subject Matter Expert in Lone Tree, CO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Charles Schwab (Less than a year)

    Pros

    Benefits, general cooperation between groups, nice desks,

    Cons

    The thought police, crappy chairs, coffee, intra-mural cooperation and rivalry among groups.

    Advice to Management

    Political correctness has subsumed common sense in Lone Tree. Someone needs to de-politicize the environment. Too many fearful workers limits productivity and creativity.

    There is a real fear of compliance. This results in problems not being escalated or reviewed. FINRA will likely bring this to your attention at some future date.

  8. Helpful (4)

    "Wouldn't recommend"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Charles Schwab full-time

    Pros

    Overtime is a plus.

    Cons

    Expect for calls to be your life. No meetings, no promised time off, no anything if call volumes are even near the red.


  9. "Business System Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - Anonymous Contractor
    Current Contractor - Anonymous Contractor
    Positive Outlook
    Approves of CEO

    I have been working at Charles Schwab as a contractor

    Pros

    Good payment package and nice working environment

    Cons

    Complex and outdated projects with no documentation.
    Treats contractors unfairly and discrimination.


  10. Helpful (10)

    "Not who/what they hold themselves out to be"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Good benefits, people generally nice, corporate environment

    Cons

    Understaffed in most departments. Management cares more about shareholders than employees but pretends to care by things like engagement surveys, an occasional gratis lunch, and "focus" on internal growth and development. Discretionary comp (bonus, etc) are impacted by this - even when employees have worked very hard to earn the compensation. The company holds itself out to be innovative and looking for fresh ideas/employees, but employees must fit into a mold to be successful here. Contrarian opinions/thoughts are not welcome. Middle management is given carte blanche and should have more oversight and training.

    Advice to Management

    To remain relevant in the industry, you must embrace the ideas of employees at all levels. Select middle managers who will truly engage employees and treat them with respect.


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