E*TRADE Bank Reviews | Glassdoor

E*TRADE Bank Reviews

Updated September 12, 2016
9 reviews

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2.9
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E*TRADE Bank Chief Executive Officer Karl A. Roessner
Karl A. Roessner
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Employee Reviews

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  1. Helpful (1)

    "credit Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Credit Analyst in Arlington, VA
    Former Employee - Credit Analyst in Arlington, VA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at E*TRADE Bank full-time (More than 5 years)

    Pros

    Good pay, relaxed corporate environment,great benefits

    Cons

    management plays a lot of favoritism, certain benefits / exceptions should be allowed for everyone and not just those close to managers.

    Advice to Management

    put more experience people in management, work with subordinates and acknowledge great work , don't constantly tell people what they did wrong and not provide alternatives.this will boost moral.


  2. Helpful (1)

    "Mostly miserable and unprofessional"

    Star Star Star Star Star
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    5 min walking to work from living nearby is definitely the only true pro I can think of for myself.

    Decent benefits
    Decent atmosphere at times
    Ok work life balance (as long as you are insistent)
    Location and proximity to DC is good.

    Cons

    Too much male favoritism. Uncomfortable culture for women. Constantly me uncomfortable in my 2 years.

    Management plays favorites

    Managers manage 1,2,3 people at most. Too many managers.

    Incompetent, useless, ineffective "senior managers" hired externally who care more spending the majority of their time on planning quarterly field trips and trips to Vegas or abroad for the "in" group.

    Managers and senior analysts will constantly lay off or make redundant people who aren't "in the bro" group.

    New exec in Credit clearly cares most about stock options than the families of smart, hardworking employees made redundant.

    Bonuses and year-end "prizes" make no sense and are more likely rigged to go to those who are "in" the favorites group.

    Loan portfolio underperforming and constantly shrinking. In 2-3 more quarters more people are likely to be made redundant and no longer needed for work on the portfolio.
    Communication is poor, favoritism is high, direction is never clear.

    If you care about your career and don't want to lose 2 years, stay as far away from working here as possible.

    Advice to Management

    Appreciate people. Communicate. Acknowledge good work... For the sake of brevity, just do everything opposite of what you're now doing.


  3. "Stay away"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Team Lead - Analysis in Arlington, VA
    Former Employee - Team Lead - Analysis in Arlington, VA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at E*TRADE Bank full-time (More than 3 years)

    Pros

    Trading platform; Mobile apps groups.

    Cons

    Loan portfolio kept on losing money. Company keeps the effort to eliminate loan portfolio. Jobs were unstable.

    Advice to Management

    Company keeps the effort to cut loan portfolio. I never saw any company like E*Trade who simply does not care about workers career. People's career were throw in the air. Saw bunch of people disappeared for no reason. Mainly use contractors to get job done. Turnover rate were extremely high. Management was immature. Saw leaders fired people for no reason to save money on giving people severance package. (Surprisingly this is legal in the Virginia) When you want to make transfer inside the company, the company made it a rule that you have to tell your manager first. No training were provided or approved. It has to be exactly what you are doing. So no cross function training were allowed. Stay away from this company if you care about your own career!


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  5. "Great branding meets okay organizational execution."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Team Lead in Irvine, CA
    Former Employee - Team Lead in Irvine, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at E*TRADE Bank full-time (More than 5 years)

    Pros

    E*Trade's internationally recognized brand lends a certain 'acceptance' when acquiring new customers. This makes it easier for folks in the sales realm to gain more trust from their clients. Unfortunately, there's much room for improvement in the management side of things.

    Cons

    Middle management blues and the usual leadership mishaps.

    Advice to Management

    Take risks, think outside the box. Don't waste this great brand on mediocre products and services.


  6. "Pretty good place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Operations Analyst in Arlington, VA
    Current Employee - Operations Analyst in Arlington, VA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at E*TRADE Bank full-time (More than a year)

    Pros

    Overall good place to work as far as people, benefits and work/life balance.

    Cons

    It's hard to get out of operations, but the rest of the company seemed to be much more stable.


  7. Helpful (1)

    "Your overall experience will vary from manager to manager, but overall the opportunities are good."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Service Representative in Alpharetta, GA
    Former Employee - Financial Service Representative in Alpharetta, GA
    Recommends
    No opinion of CEO

    Pros

    Opportunity for growth
    Ability to become licensed, if not already
    Self improvement is encouraged (additional licenses, continuing education, etc)
    Pay is competitive

    Cons

    Training was sometimes inconsistent and that affects the information we provide to our customers and the speed at which we can respond. Also, ensure management understands how to manage people.

    Advice to Management

    Continue to focus on improvements and remember your people are the core of the business. I saw a lot of positive changes take place.


  8. Helpful (1)

    "Just waiting to be shut down"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Manager in Arlington, VA
    Current Employee - Senior Manager in Arlington, VA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Very good business model. Good Customer base. Internet only, latest technology platform. Good Interest Rates. A lot of good passionate people still hanging around for some unknown reason.

    Cons

    Mistakes of a few people who made bad decision and took off when the going was good is now coming back to haunt the people who had really no say in the matter. Most people even at senior levels did not even know how bad the situation was till it hit the public eye. Everyone bought the cool aid that we are beating the competition.

    Advice to Management

    Do not treat the Bank as a step child. A bank and a brokerage together is a competitive advantage. Reward good ideas even if they are coming from some guy at the 'bank'. People at the bank should not be penalized for the bad decisions by some who are not even here anymore.


  9. "ET OK"

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

    I worked at E*TRADE Bank full-time (More than 3 years)

    Pros

    It had a young culture, so you felt that just about anything was possible to do, even if it had not been done before

    Cons

    It lacked resources and company management had moved it's direction to places it should not have gone, putting the company in trouble


  10. "Charm enviornment"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Summer Intern in Seoul (South Korea)
    Former Employee - Summer Intern in Seoul (South Korea)
    No opinion of CEO

    Pros

    Fairly flat organization and less competitive environment

    Cons

    Relatively low salary and few interactions among departments