Charles Schwab - Falling behind from a technology standpoint | Glassdoor
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There are newer employer reviews for Charles Schwab

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Helpful (7)

"Falling behind from a technology standpoint"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Managing Director, Marketing in San Francisco, CA
Current Employee - Managing Director, Marketing in San Francisco, CA
Doesn't Recommend
Neutral Outlook
No opinion of CEO

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

Pros

If your manager allows it, you can work remotely on occasion. Solid values and ethics. Good ability to move around from department to department, provided there are jobs you are interested in open.

Cons

Workforce is stretched too thin. Frequent reorganizations make it hard to know who has ownership/responsibility when issues arise. Technology infrastructure is seriously outdated and results in frequent frustration/loss of productivity for employees. Some groups rarely promote employees and are reluctant to make salary adjustments for long-time employees, resulting in many high performers leaving the firm to obtain a better title/salary.

Advice to Management

Take a look at the employee rewards and recognition programs and find a way to provide meaningful, public recognition for more employees. And work on implementing a social media monitoring program so employees are not blocked from using all sites with a social aspect.

Other Employee Reviews for Charles Schwab

  1. Helpful (3)

    "Soul crushing"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Stock Broker in Phoenix, AZ
    Former Employee - Stock Broker in Phoenix, AZ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Great people, great training, you will not move up!

    Cons

    Extremely low pay. You are told one thing in on board training and once you get to your desk reality sets in. They do not care about your experience or knowledge, you are rated on your ability to get clients to click on sections of the website and bring in funds. You will NOT be compensated for it. They want robots who drink the Kool aid and monitor every single thing you do. Expect to take phone call after phone call after phone call! Most of what you will be doing will be resetting passwords for people who have no clue about the Internet. Get your 7 and 63 and GTFO!

    Advice to Management

    Pay your employees! There is a reason everyone wants out!


  2. Helpful (3)

    "Charles Schwab Bank Customer Service Rep"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Schwab Bank Customer Service Representative in Denver, CO
    Current Employee - Schwab Bank Customer Service Representative in Denver, CO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    for the most part, great managers and coworkers. benefits are fantastic. health, vision, and dental insurance are all very competitive. Directors are very present, I have met many of the senior level people on several occasions. Schwab genuinely wants their employees to be happy, and takes many steps to put that to action.

    Cons

    Where to begin... to say that the bank technology is old is a gross understatement. Bank reps literally use 20 different systems, none of which communicate with each other, and they all do ONE single thing. The pay with Schwab Bank does not compensate for the verbal abuse that has to be tolerated by reps on a day to day basis. Clients are often EXTREMELY angry when they call in, usually because their debit card has been declined or blocked due to the conservative fraud monitoring system on the cards. The turnover with Schwab Bank is very high due to these and other frustrations, and the training is not long or thorough enough, so there are always new reps that are making grave mistakes and/ or giving out wrong information. You take call after call after call, with very structured and limited breaks. Also, Schwab Bank is an online bank, but they don't offer e-statements or e-transfers for savings accounts... Just another example. Doesn't make sense.

    Advice to Management

    invest some money in the bank. it's a very small piece of Schwab overall, but clients lose faith SO quickly in the company when they have problem after problem, and mistake after mistake. Compensate your people better. The amount that we make isn't enough for what we do.

There are newer employer reviews for Charles Schwab
There are newer employer reviews for Charles Schwab

See Most Recent

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