E*TRADE Financial Reviews | Glassdoor

E*TRADE Financial Reviews

Updated July 26, 2017
195 reviews

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3.0
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E*TRADE Financial CEO Karl A. Roessner
Karl A. Roessner
6 Ratings

195 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)

    "Nearly 6 years there..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Market Research in Jersey City, NJ
    Former Employee - Market Research in Jersey City, NJ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    some very knowledgeable, smart and very nice people to work with, and a relaxed atmosphere overall, considering it is a financial company. Good work/life balance.

    Cons

    The company makes very frequent top management changes. There is no clear sense of direction of where the company is going, who does it serve, and what are its core values. Very often, about 4 times in my 6 years, the company has been 'reinventing the wheel' with every top management change. Along this, constant problematic placements in terms of VPs and SVPs, driven by corporate politics and former personal associations rather than real, established, long term strategic company's needs or gaps to fulfill.

    Advice to Management

    Define strategic brand position, promise and values, and commit to execution for more than 6 months. Bring knowledgeable top tier managers, not from mainstream banks but from e-commerce, to move the company forward.
    Recognize employees' loyalty and dedication rather than aptitude for corporate politics. There is too much paying lip service to leaders' ideas just to flatter and bring favors, but no real commitment to scope and implement the change.


  2. "Software Engineer"

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

    I worked at E*TRADE Financial full-time (More than 10 years)

    Pros

    Good Business model. Top 5 in the brokerage business. Customer Facing applications. Lots of projects and changes. Opportunity to grow till Principal Software enggn,

    Cons

    Too many non-hands on folks . If on person is actually working on the issue or development task, there are 5 to 6 not working hands in the same project. It is just waste of money and resources.

    Advice to Management

    Company need to flatten orginaization on tech side and make it hands on for all managers and sr manager. Only VPs should be non- hands on. No need of so many project manages. Currently the company is full of IT manages and project managers. Very good scope for improvement.

  3. Helpful (3)

    "Financial Services Representative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative in Atlanta, GA
    Former Employee - Financial Services Representative in Atlanta, GA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Top notch training and support to obtain your Series 7 and 63. New hire training process aka their incubator is a well thought out program that decently prepares for the overall job (taking the exams and their new hire program lasts around 4 months). You are a jack of all trades and you receive valuable high level education of the financial services industry including most importantly your licenses which you can take anywhere ;).

    Cons

    Now the CONS! After the first couple of months the position starts to erode and drain your inner spiritual, emotional, and high level creative thought patterns. After a few months you feel that you are a robot trapped in some Bill Murray Groundhog Day nightmare with no light at the end of the tunnel. Bringing a flask is strongly encouraged! Finally and one of the most important point is that I felt there was little room for growth to actually make a living (40k-50k to me is not cutting it)...their financial consultant sales roles are a joke and you cant really control or manage a business as you see fit...there are only robo advisor products and a set list of pre-approved ETF's and mutual funds to sell. So you are really constrained by the companies policies and products. So overall, it's a great company to get your feet wet in the industry and learn the basics but not for a career.

    Advice to Management

    All employees should receive stock options and ESPP shares regardless of position and need to change their sales/consultant positions if they want to reduce turnover. In addition their technology/website is lagging many features/functionality of other competitors like Ameritrade and Schwab and is in dire need of an upgrade on back and front end of the house.


  4. "Financial Services Representative"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at E*TRADE Financial full-time

    Pros

    Decent benefits, lots of overtime

    Cons

    low pay, tied to the phone with ACD

    Advice to Management

    None


  5. Helpful (2)

    "Good opportunities, Great pay, but no room for growth"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Consultant in Palo Alto, CA
    Former Employee - Financial Consultant in Palo Alto, CA
    Recommends
    Negative Outlook
    Disapproves of CEO

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

    Pros

    For a financial advisor, there is no cap on your quarterly bonus. As a Top-5 producing Advisor, quarterly bonus checks were consistently in the 30k-40k range (which made up for the pathetic base salary). Work-Life balance is pretty good, and the managers of the three branches in Cupertino, Palo Alto, and SF are all solid people who expect you to do your job and ask for help when you need it. The back office / Service folks form a great support network, Many have been around for years, and if you keep the stupids to a minimum then they'll be happy to help when it's needed.

    Cons

    Note - You will not be able to live off your base salary as a financial advisor in the SF Bay Area. Plan ahead, as you shouldn't expect to make a bonus for the first 1-3 quarters.
    The Management at E*Trade (Regional and above) is uber-political, and has been for years. Every time there's a change at the top, the new leadership brings in their old cronies, and the caustic wheel turns again. Management also seems to be willing to let grudges be enforced, which leads to a lot of bitterness. Idzik was a much needed firm and steady hand for the company, but was let go when the Board got greedy.
    HR is a joke at E*Trade, especially in terms of responding to internal complaints (favoritism abounds), and the current regulatory environment mixed with the new CEO (former E*Trade General Counsel - Why would you put a lawyer in charge?!) has lead to a compliance nightmare for the front-line sales folks.

    Advice to Management

    Make up your minds as to whether you're a financial services firm, or a tech company - Your Financial Consultants are frustrated that the tools they're being given are years behind the competition, and the software engineers in Menlo have no idea that they have financial advisors working less than 2 miles away. You profess to be a tech company, but there's no equity offering except for top performers (almost mandatory in Silicon Valley).
    Worst is that there is no growth opportunity or possibility for career advancement. Your top competitors (Morgan, Merrill, Schwab, Fidelity) all have tracks to promote from within (FA, Senior, VP, Private Client, etc.), but as a Financial Consultant at E*Trade, you're stuck. It should be no wonder that you have a revolving door in the retail branches.


  6. "I have been working at E*TRADE Financial full-time (Less than a year)"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Technical Business Analyst in Arlington, VA
    Current Employee - Senior Technical Business Analyst in Arlington, VA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    The hiring process overall was smooth; about two months from recruiter contact to hire date.

    Work/Life balance is very good, and I get a chance to work in a friendly and professional environment in a very supportive team.

    Cons

    As of yet, none that I have experienced.


  7. "Great for recent graduates"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    You will learn a lot very quickly by the numerous of situations that arise daily.

    Cons

    He turnover ratio is very high due to it being a call center. The calls are horrible.

    Advice to Management

    Eliminate politics and make room for true talent. Does not contain diverse leadership.

  8. "Good place to work depending on team"

    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

    I worked at E*TRADE Financial full-time

    Pros

    Great compensation, nice office location, special employee access to etrade bank and etrade app

    Cons

    high turnover resulted in increased workload, very stressful


  9. Helpful (2)

    "Great Place to start"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Advanced Trading Specialist in Alpharetta, GA
    Current Employee - Advanced Trading Specialist in Alpharetta, GA
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

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

    Pros

    Great hard working people, great place to learn the business

    Cons

    no room for upward mobility
    pay is at the bottom of the industry
    very high attrition
    customer comes first always
    online company with no equity comp plan

    Advice to Management

    reward your tenured talent


  10. "nice place for starter"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at E*TRADE Financial full-time

    Pros

    intern and new grad hired every year

    Cons

    lots of unnecessary process and meetings

    E*TRADE Financial Response

    May 1, 2017 – Talent Acquisition

    Thank you for taking the time to comment. We value and appreciate your feedback!


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