Charles Schwab Reviews | Glassdoor

Charles Schwab Reviews

Updated November 18, 2017
1,776 reviews

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3.6
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Charles Schwab President and Chief Executive Officer Walt Bettinger II
Walt Bettinger II
1,024 Ratings

1,776 Employee Reviews

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Pros
Cons
  • very little flexibility with scheduling due to call center requirements (in 93 reviews)

  • The work life balance that is advertised is inaccurate (in 30 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (21)

    "Financial Services Professional"

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

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

    Pros

    There is great leadership at Schwab. They care about your career and if you want to go somewhere, they will help you get there if you put in the effort and show dedication. They are really good at hiring as there's a lot of strong talent.

    Cons

    Not many downsides... It's very busy on the phones. They may be understaffed. If you like competition this is the place to be. There is a lot of strong talent.

    Advice to Management

    Keep up the good work when it comes to hiring. Continue to hire people who care. Stop hiring people fresh out of college with the motivation of money.... they will not last and some of them are even bad for the brand.


  2. "Associate Financial Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate Financial Consultant
    Current Employee - Associate Financial Consultant
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Charles Schwab full-time

    Pros

    Great team. Great support teams.

    Cons

    Lack of training. Role clarity issues at times

    Advice to Management

    provide better structure for employee development

  3. "Ok but not great."

    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
    Positive Outlook
    No opinion of CEO

    I have been working at Charles Schwab full-time

    Pros

    Company is financially stable. Good benefits.

    Cons

    From a tech perspective the problem of making a bank run is a boring one. Also the fragmentation of all of the tech departments makes getting anything done very difficult. I get a general feeling that most people there are strictly there for the job and not really because they are excited about the company in any way.


  4. "Great place to work"

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

    Pros

    Great culture, especially for a finance company

    Cons

    Can be risk-averse making it hard to make changes quickly.

    Advice to Management

    Keep up the great work


  5. "Program Manager"

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

    I have been working at Charles Schwab full-time

    Pros

    Great colleagues, stable company, purpose driven mission/leadership.

    Cons

    Pay is average at best, growth opportunities are somewhat limited.


  6. "Great experience, , underpaid"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Derivatives Trading Specialist in Indianapolis, IN
    Current Employee - Senior Derivatives Trading Specialist in Indianapolis, IN
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Incredible benefits, great employees, some really effective managers, great training, excellent Brand, a lot of great research and learning tools for self-directed investors.

    Cons

    Call center...constant technical issues with trading platforms and website, Leadership seem to be out of touch with day to day issues. Lack of upward mobility...for being such a huge company, the ability to promote can require you to relocate out of state.

    Advice to Management

    Underpaid talent leads to lack of attrition. By reducing fees and commissions, Schwab tried to bring in additional business too quickly and that has put stresses on website and trading platform technologies that were clearly not predicted. It is not acceptable to have continued issues.


  7. "Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Analyst in New York, NY
    Former Employee - Analyst in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Free food
    Nice location
    They fired me

    Cons

    Bad pay
    No serious direction
    Poor culture and WLB

    Advice to Management

    Pay and treat people better

  8. "great job"

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

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

    Pros

    great environment, company has a great culture

    Cons

    doesn't pay enough, the job can be stressful at times when the office is too busy

    Advice to Management

    hire more young kids


  9. Helpful (1)

    "Great Company, Painful Technology Delivery"

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

    I have been working at Charles Schwab full-time

    Pros

    - Great & friendly people. Excellent team work is observed internally within a domain
    - Genuine drive to meet customer needs - evident by the growth of business
    - Financial planning available for employees

    Cons

    - Cross Domain Collaboration is a nightmare. It feels like you are working with different external companies or vendors yet you are within the same company
    - Middle and Senior Management do not comprehend Agile maturity challenges and are ineffective to initiate necessary organizational change
    - There are are some outdated technologies and processes depending on the department you work with
    - Project management/execution does not seem to be concerned improving process to attain better precision and accuracy in delivery. Estimation is done in a really weird manner that is far cry from Agile practices.

    Advice to Management

    1) Aim to increase the full-time to contractor ratio by hiring quality top technology talent. Create an environment that will be enticing to recruit and retain high intellect

    2) Provide a clear roadmap to scaling Agile across technology domains, and support that roadmap all the way through.

    If the above are ignored, you risk failing in efforts to innovative and expanding current technology to meet customer growth. There is a potential to see a high employee turnover and loss of frustrated top quality talent


  10. Helpful (5)

    "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.


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