Charles Schwab Reviews | Glassdoor

Charles Schwab Reviews

Updated May 25, 2017
1,627 reviews

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1,627 Employee Reviews

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Pros
Cons
  • Being a call center limits flexibility (in 81 reviews)

  • The seems to be a lack of a proper work/life balance (in 28 reviews)

More Pros and Cons

  1. Helpful (1)

    "Schwab is solid"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Manager in Austin, TX
    Current Employee - Senior Manager in Austin, TX
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Solid, very ethical company. Cares about its employees.

    Cons

    Process inefficient in a few places.


  2. "Good Company to work for"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Technical Specialist in San Francisco, CA
    Former Employee - Technical Specialist in San Francisco, CA
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Excellent diversity, decent benefits, and good work life balance

    Cons

    Not too many job opportunities in the San Francisco Bay Area


  3. Helpful (3)

    "Employees are treated like garbage."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Consultant in Houston, TX
    Former Employee - Financial Consultant in Houston, TX
    Doesn't Recommend
    Disapproves of CEO

    I worked at Charles Schwab full-time

    Pros

    Decent 401k, but that is about the only positive there is.

    Cons

    Employees are pitted against each other. Managers pick favorites and make in it very difficult for the non favorites. Sales goal change constantly and are raised to levels that many consultants can't reasonably achieve. If you fall out of favor with the your manager, they will look for any minimal reason to put you on warning and eventually fire you. Management has cut compensation on a regular basis and substituted a "deferred bonus plan". The only problem with the plan is you have to stay at least 5 years and be age 60 before the funds are available. If you are laid off or fired the plan goes away. The suspicion is Schwab is targeting employees that are near the date of getting the plan funds. Morale is to low to measure.

    Advice to Management

    Look at how you are treating experienced consulants. The bull market will end someday and will you will need these consultant to bail out the company!!


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  5. Helpful (8)

    "Don't quit your job to come here (CVRC)"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Ops Control Specialist in Lone Tree, CO
    Former Employee - Ops Control Specialist in Lone Tree, CO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Expect the least from this corporation.
    "You'll get a lot of time off after 5 years but will need Stockholm Syndrome to get thru it" is the common joke in the halls.

    Cons

    The workload was so ridiculous, my former department Client Verification and Research Center (CVRC) actually had coworkers working off the clock after their shift was over to complete their queue for the day. That's so illegal. If people didn't finish their queue for the day they wouldn't get a bonus or raise at the end of the year. In January 2017 the CVRC department only granted 60% of the dept a raise - 40% received 0% raise, and those were the ones who refused to work overtime without being paid. Considering Denver's rising cost of living that amounts to a salary decrease.
    Management was a constantly revolving door. So were coworkers. I worked there a year and a half and counted 17 different faces. Still nothing was done about the obvious problems. Managers freely discriminated and were the rudest, most uneducated people you'll meet outside of a Waffle House.
    I left a decent job at Scottrade to go to CVRC in Charles Schwab and was promised the moon and back, promised bonuses, promised raises, promised time off. All of it was lies. DO NOT LEAVE YOUR JOB TO COME HERE!!!!

    Advice to Management

    Gut CVRC management.


  6. "Charles Schwab"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - FC Associate in Westlake, TX
    Current Employee - FC Associate in Westlake, TX
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Very excellent work culture with benefits

    Cons

    There are currently no major downsides.


  7. Helpful (4)

    "High expectations for below average pay"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate Portfolio Consultant in Phoenix, AZ
    Former Employee - Associate Portfolio Consultant in Phoenix, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Charles Schwab full-time (More than 3 years)

    Pros

    Great Fundamentals of Service, Fundamentals of Trading, and Advanced Broker training. They also do a good job of vetting new managers for their core teams.

    Cons

    Merit increases don't even keep pace with inflation. When you're promoted, you don't receive a pro-rata merit increase, and sometimes you're promoted with no promotional pay increase at all. You have to pay up-front for continuing ed, and reimbursement process is tedious. Misogyny exists; it's still a 'boys club', especially in branch offices. Terrible cafeteria, and only 30 minutes for meal break. Inconsistent selection process for managers outside of the core teams; some have zero leadership skills.

    Advice to Management

    More frequent employee surveys, and when the employee survey points out problems, use it as a way to see how management can improve -- just like you do with customer surveys. When managers document items in MyCoaching, allow an area for employee feedback. Coaching sessions should be a two-way communication.


  8. Helpful (3)

    "Customize portfolios to meet financial goals"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Portfolio Consultant in Phoenix, AZ
    Current Employee - Portfolio Consultant in Phoenix, AZ
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Charles Schwab full-time (More than 10 years)

    Pros

    Good offer, great co-workers, good tools, competitive salary. Sincere sense of satisfaction in building client relationships. Offer stimulates client engagement.

    Cons

    Way too much work load and no work/life balance. Too much upper and middle management hired from outside the company.

    Advice to Management

    Stop putting so much pressure on new business at the expense of existing clients.


  9. "Great company that values its employees and clients"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Client Relationship Specialist in Atlanta, GA
    Current Employee - Client Relationship Specialist in Atlanta, GA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Working in a branch is great. Clients are for the most part great. My team is awesome and my manager actually cares about me and my professional growth. The back office is great and gets things done efficiently. The pay is great and above industry standards. Great 401k match with immediate vesting, ESPP's, and good time off plan. The company's stock price has doubled in a year and schwab is starting to eliminate the competition

    Cons

    Technology could be a little better. Our computers and some of our systems look a bit dated. The hiring process in my branch network is very slow so we were left quite short staffed during busy seasons (tax season)


  10. "A great employer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in San Francisco, CA
    Former Employee - Anonymous Employee in San Francisco, CA
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Charles Schwab (More than 3 years)

    Pros

    Very fast paced. People are passionate about their work. Good corporate atmosphere.

    Cons

    A lot of re-orgs that there is no continuity.


  11. "Good company, room for improvement"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President, Financial Consultant in Los Angeles, CA
    Current Employee - Vice President, Financial Consultant in Los Angeles, CA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Comp is solid if you are a performer. Company allows you to be somewhat independent. Colleagues are decent.

    Cons

    No upward advancement without a significant pay cut. Branch management is full of opportunity for improvement (a.k.a. pretty bad). Regional level has, for the most part, been there forever and think they are demigods. High performers have nowhere to go except out and the new managers are mostly jokes who don't know how to manage a proper sales team.

    Advice to Management

    Learn the difference between experience and expertise. In IS, executive branch leadership is respected, mid-level leadership is tolerated, and BMs are relegated to punchlines.


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