E*TRADE Financial Reviews | Glassdoor

E*TRADE Financial Reviews

Updated February 21, 2017
98 reviews

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Pros
  • nice place to work on with proper work life balance (in 35 reviews)

  • This is a decent place to get the 7 and 63 (in 24 reviews)

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

  • It's a call center with unsophisticated clients (in 31 reviews)

More Pros and Cons

  1. Helpful (9)

    "Please Exercise Caution"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Information Security in Menlo Park, CA
    Former Employee - Information Security in Menlo Park, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    The company has good benefits, 401K matching, stock options, health, vision, dental and many others.

    Cons

    E*TRADE Financial is on a downward spiral as it continues to lose good people to better employment opportunities. Depending on the location, the culture could be poisonous with senior management micro-managing and incompetent supervisors and managers. The company has lost its vision as it continues to flounder. Just look at the companies latest activity report and it is obvious that the company has some serious challenges. The company has set a precedent of being top heavy with VPs and Directors with no direct reports or management responsibilities and eventually the pendelum will start to swing back the other way. Rumors have already circulated that hiring freezes in various groups, e.g. technology, while other organizations hire overpaid and unqualified managers.

    I would encourage current employees to take advantage of the ListenUp program to report wrongful behavior and provide the company feedback on how to improve, otherwise your situation will likely remain unchanged.

    For individuals considereing employment at E*TRADE and are looking for a challenge, then E*TRADE is the place for you. You will likely not have a mentor and your supervisor or manager will be incompetent.

    Advice to Management

    What happen to all that money you spent on training your managers to hire good people? How is that performance management process working out, did you give out enough 2's and 3's this year? Is it fair that you leave it up to the descretion of the VPs to determine bonus amounts based on whether they like you or not.

    Please treat your employees with dignity and respect. Letting people go based on lame excuses, like "reorg" or terminating someone while on bereavement leave is not a great way to treat people.


  2. Helpful (3)

    "Management team is not very professional. They tend to treat employees suspiciously."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Product Manager in Menlo Park, CA
    Current Employee - Senior Product Manager in Menlo Park, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at E*TRADE Financial full-time (More than 5 years)

    Pros

    Allowed to dress business casual for most times except when senior management team is onsite. Parking access is great for all.

    Cons

    ETRADE people predominantly from India. Not very diverse. Few Americans. The work environment can be difficult to work at especially at the Menlo Park location.

    Advice to Management

    Add more diversity to your workforce.


  3. "Fraud Analyst"

    Star Star Star Star Star
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Lots of Overtime, great location

    Cons

    No Loyalty, poor management, working on holidays


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (6)

    "I feel obligated to tell job seekers to look elsewhere"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Engineer in Menlo Park, CA
    Former Employee - Engineer in Menlo Park, CA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    A handful of employees who actually care.

    Cons

    Everyone is overworked and spread too thin. Everyone looks exhausted and unhappy. So much negativity and misery permeates the office. I've been with the company for over a year and it has slowly gotten worse since day 1. High attrition.

    Advice to Management

    There's a point where existing upper management no longer works. Bring in new blood.


  6. Helpful (3)

    "Unhappy"

    Star Star Star Star Star
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend

    Pros

    The people that you work with are great. Smart, engaging, knowledgeable.

    Cons

    Management makes everyone miserable with micromanaging.


  7. Helpful (4)

    "Financial Services Rep"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Registered Representative in Sandy, UT
    Former Employee - Registered Representative in Sandy, UT
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Good training program for Series 7 and 63 Finra Securities Licenses. Great for students and newbies who want to get into the financial services business. They know what they are doing when it comes to training, Get in to get your Series 7 and 63, then get out.

    Cons

    It's a call center, you get brutalized on the phone. Etrade attracts the bottom of the barrel customers, just wanting to buy a few shares of stock and make a million. The managers at the Sandy office treat you like you are in kindergarten. They make you feel very small. Don't ever take a 16 minutes beak when it was suppose to be a 15 minute break, they will write you up.

    Advice to Management

    Treat people the way you'd like to be treated. We are adults, do I really need a stuffed animal to use to go to the restroom?


  8. Helpful (4)

    "Software engineer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Easy work. Everything assigned is simple and takes a few mins to finish. Good work life balance. Easy interview. Perfect for college grad.

    Cons

    Underpaid. Probably some of the worse engineers in the valley. They just hire some random guys from India and give them senior engineer positions. Engineers never want to be challenged at this company, so if you try to work hard it will not be recognized. All the talented engineers leave after a year from college. Design pattern does not revisit in this company.

    Advice to Management

    Fire all the lazy engineers and have a real interview process that conforms with the rest of silicon valley. A few phone interview with one or two technical questions does not screen anything.


  9. Helpful (4)

    "Sr. Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Arlington, VA
    Former Employee - Anonymous Employee in Arlington, VA
    Doesn't Recommend
    Negative Outlook

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

    Pros

    Good pay, higher than most of financial service firms in Metro DC area.

    Cons

    Benefits are very bad, you have to pay more than $130 a month for parking. 401K match is only 3% vested after 3 years.
    The Market Risk Management Group managers are horrible. They only have bachelor degree but they want to hire Master/PHDs, then push new hires to do new stuff. After that, E*Trade find executes to fire them or new hires have to quit. That's the reasons the turnover rates are so high. Then current managers can claim that "see, we are the best guys in industry because new hires failed again."

    Advice to Management

    Once company realize some managers are cheating, these bad managers will be fired.


  10. Helpful (4)

    "engineer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Decent pay and benefit. Otherwise I can't think of anything.

    Cons

    They have the worst engineers in bay area. Their technology is absolutely horrible. Great place to work if you don't know how to code. They will still hire you. If you care about your work, don't even think about applying. Long stressful work hours as well

    Advice to Management

    Hire better engineers.


  11. Helpful (6)

    "The sad, pathetic decline of an iconic brand"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Product Manager in Jersey City, NJ
    Former Employee - Senior Product Manager 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

    There are some cool people who work at the company, though the best employees have departed. New leadership has slowed progress so much that you can take up a hobby or a second job without skipping a beat with your responsibilities. You'll also be able to take a few PowerPoint templates to your next job, which will make you look like you have worked for a major consulting firm for years.

    Cons

    The president of the company is the worst kind of narcissist. He is petty, childish, and vitriolic. Even worse, he doesn't understand retail brokerage. Still worse, he has empowered an entire team of folks who know even less about retail brokerage to "run" the business. All of the retail brokerage experts and innovators have departed the company, so you're left with a bunch of former consultants who produce nothing but PowerPoint files (consultants gonna consult). It can be depressing to know that a small group of people are being set up for a bid payday if they succeed in eventually selling to Schwab.

    Advice to Management

    Enjoy your money while the company hemorrhages traders. Maybe your plan to amass enough AuM to attract a bid from Schwab will work, maybe not. I suspect you'll get paid either way.



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