E*TRADE Financial Reviews | Glassdoor

E*TRADE Financial Reviews

Updated June 29, 2017
103 reviews

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E*TRADE Financial CEO Karl A. Roessner
Karl A. Roessner
3 Ratings

103 Employee Reviews

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Pros
  • The work/life balance is the best I've experienced in my career (in 43 reviews)

  • This is a decent place to get the 7 and 63 (in 26 reviews)

Cons
  • Work/life balance is not desirable (in 18 reviews)

  • Inbound call center, so performance metrics are highly monitored (in 35 reviews)

More Pros and Cons

  1. Helpful (1)

    "Project Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Project Engineer in San Francisco, CA
    Former Employee - Project Engineer in San Francisco, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    PMO is mature and professional

    Cons

    absolutely no diversity when it comes to hiring. 90% of the workforce are contingent workers from India.

    Advice to Management

    Hire more local talent


  2. Helpful (6)

    "So called start up with terrible management"

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

    I worked at E*TRADE Financial full-time (More than a year)

    Pros

    Office was in a great location (midtown and jersey city), certain employees can be friendly

    Cons

    Management is a wreck. Everyone is just out there trying to keep their jobs. Upper management doesn't treat the people below them as people based on their job titles. The company sells itself as having a "startup vibe" but its as corporate as can be. Very inconsiderate of personal and religious needs of employees. If you want to grow your career and enjoy your work, I suggest you look elsewhere.

    Advice to Management

    Get rid of current management. E*Trade will go nowhere with such unhappy workers and bozos at the top.

  3. Helpful (4)

    "A waste of (not quite) a year"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Software Engineer in Alpharetta, GA
    Former Employee - Software Engineer in Alpharetta, GA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at E*TRADE Financial full-time (Less than a year)

    Pros

    - Competitive pay and benefits
    - Plenty of good options for lunch close by; be sure to pay Wildflour a visit
    - Team had semi-regular potluck lunches too; good for building camaraderie

    Cons

    - borderline oppressive corporate culture
    - it's pretty clear higher-ups in Menlo (CA) make all the decisions and the IT folk in Alpharetta just have to put up with it.
    - inflexible hours - WFH policies are subject to the whims of your director and no company-wide policy exists; additionally, you can't take a partial PTO day - only full days are allowed
    - high turnover - my team swelled to around 18 roughly after I joined in Sep. '15 and half have since left the company, including the director who somehow fell into a better job elsewhere
    - was told I would be working on one platform during interviews (the web application) but once hired was placed on the Salesforce dev team. SalesForce might be a dream for business types but not a single developer on my team liked it.
    - was never given any training on the code base or what it does. "here's the repo" was all I got.
    - after being hired, was given no direction or training (outside of online courses on basic company policy). In 9 months, was given one project that was perpetually held up by business. After sufficient needling of my manager and team director for more work, was finally given something that was clearly of little to no concern for the company. This wasn't a team thing either - for some reason, it was just me who wasn't getting work.
    - the process for committing and promoting code is unbelievably complicated. You'll spend more time putting together a change order than actually writing your code enhancements.

    Advice to Management

    - Listen to your employees. Don't ignore them when they ask for work then wonder why they can't stay on task for 40 hours a week.
    - If you have issues with a direct report, tell them rather than complaining to everyone else.
    - Loosen up. E*Trade was a financial tech startup born in the Silicon Valley; the Alpharetta office feels like a stuffy NY firm.
    - Seriously, stop treating employees like meat. The culture is rotten to the core, and everything points back to the directors, executives, etc. in Menlo.


  4. "Good company. Not so good training."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative in Alpharetta, GA
    Former Employee - Financial Services Representative in Alpharetta, GA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at E*TRADE Financial full-time (Less than a year)

    Pros

    It's a really good company to work for. Opens new doors if you can pass the series 7 and 63. Lots of great perks and looks good on your resume.

    Cons

    You have to pass the series 7 and 63 or you will be jobless. Most people don't pass. The training is not that good they rely on training software to teach you. Actual instructors teaching style is dry. One of them actually goes back on what he says and doesn't really seem you have the right answer. I just recently did training with another instructor at another company and it was totally different more reliable. The ones at etrade need to have more enthusiasm and have more in depth activities/worksheets to study off of. Don't just rely on Tina or why are you there in the first place.
    The drive is far too. All the way in Alpharetta.

    Advice to Management

    Have better instructor's that actually take initiative in helping students to pass.


  5. Helpful (3)

    "NA"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Disapproves of CEO

    I worked at E*TRADE Financial full-time (Less than a year)

    Pros

    I did not experience anything positive at this Company.

    Cons

    Had the worst experience in my career at this Company. Do NOT go work for the Legal department here.

    Advice to Management

    Should absolutely implement 360 degree reviews for management.


  6. "Financial Services Representative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Representative in Sandy, UT
    Current Employee - Financial Services Representative in Sandy, UT
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    The skills acquired in this position are great to have on your resume.

    Cons

    Clients WILL berate you. Some clients are irrational. You have to be willing to be treated harshly on a daily basis. Your average talk time per customer must be below 8 minutes and you may feel frustrated when you can't reach your 8 minute goal.

    Advice to Management

    Requirements to lower a representatives talk time can create poor customer experiences. It can cause for the representative to hurry the customer along and it can cause the representative to become frustrated. Clients may already be intimidated by trading and a representative hurrying through the call may not be beneficial to the client.


  7. Helpful (1)

    "Horrible for Designers"

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

    I worked at E*TRADE Financial full-time (Less than a year)

    Pros

    The place was so disorganized many people did no work all day, and you were able to leave early.

    Cons

    In 9 months 15 people quit in a 45 person org, with 4 levels of leadership quitting or being let go.

  8. "no career growth"

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

    Pros

    nice coworkers but management leaves a lot to be desired

    Cons

    inferior management and backstabbing environment.

    Advice to Management

    clean house


  9. Helpful (7)

    "Run Away, Unless you intend to live out the twilight of your career as a member of the good ole boy network"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Alpharetta, GA
    Current Employee - Anonymous Employee in Alpharetta, GA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    - Short commute
    - Food trucks on-site routinely (although they are very expensive)
    - Free donut days once a week (or once a month month at some locations)
    - Occasional employee barbecues or ice cream days in the summer
    - There is a small core of staff who are very familiar with the infrastructure due to their long tenure at the company

    Cons

    - Very noisy office space with 1970's-era design --- lots of TV's continually running on every floor. This would be understandable in a media company that has to monitor their signal, but ridiculous in a financial company were most people work in low open cubicles.
    - Extremely high turnover at all levels - more than 80% per year on line worker level in many departments (and not just on the call center side), and roughly 50%-60% at professional levels. The company's entire executive staff has been replaced at least once in the past two years (across every position). They've had 4 CEO's in the past 5 years.
    - Extremely top-heavy with lots of title inflation. Junior and mid-level management team mostly made up almost entirely of people who were rewarded or promoted for sticking with the company through the recent financial crisis, when the company almost went under due to bad mortgage bundle investing decisions at senior level. The vast majority of managers here have never worked as managers anywhere outside of the company, and lack any real training or depth of experience.
    - Lots of title inflation, with fragile egos to match - Managers with 0 or 1-2 reports; Directors with 5-6 reports: VP's with 15-20 reports, etc. Most Directors here would be considered line managers or team leads at other companies. Most VP's here would be mid-to-senior managers at other companies. HR also reports directly to the CEO - which is never a good sign in any organization.
    - Company is running very lean, with roughly 1/.4 of the staff they need to perform all federally-mandated projects on anything more than a superficial "get em out the door" level.
    - Company uses 1970's and 1980's style "forced ranking" system to evaluate employees, wherein a certain percentage of staff must be ranked in bottom or middle performance levels, regardless of their actual work output or quality. Determination of who receives a given ranking is not based on measurable criteria and very subjective based on relationships with senior managers. Don't get on any executive's bad side or you'll regret it come bonus time. The last point wouldn't be so much of a problem were it not for the fact that compensation in general is far below industry average without bonuses figured into the mix.
    - Inconsistent policies across teams or groups, with HR turning a blind eye to uneven enforcement of "policies" that aren't written down anywhere and are not reviewed at any level beyond individual managers
    - HR reports directly to CEO and is generally very weak at enforcing legally-mandated worker protections
    - The majority of long-term technical staff are go-along-to-get-along mentality... although they're generally not very technically skilled, the IT staff is generally very familiar with the infrastructure and technologies in-place. Many of the IT staff are waiting out the end of their careers. Most IT leadership were line staff members 3-5 years ago (see above comment regarding promotions) and are much more technically-focused without maturity to hold their positions in other more-competitive organizations.

    Advice to Management

    - Provide better training for junior and mid level management.
    - Pay according to industry averages... people shouldn't be depending on promised high bonuses to meet industry-average salaries.


  10. Helpful (3)

    "Don't consider it"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate in Jersey City, NJ
    Former Employee - Associate in Jersey City, NJ
    Doesn't Recommend
    Negative Outlook

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

    Pros

    Good benefits, nice holiday parties and that's about all.

    Cons

    Culture isn't great; people aren't held accountable for their actions. Dead-end roles in most departments. Very top heavy with uninspiring and incompetent managers. They oversell roles to attract people but you quickly realize that it's smoke and mirrors. And lastly, because they don't pay very well, they don't attract the brightest workers. Do not work here.

    Advice to Management

    Pay more to hire smarter people. Get rid of all the excessive layers of overpaid managers.


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