Charles Schwab - A great company that is not so great to work for. | Glassdoor
There are newer employer reviews for Charles Schwab
There are newer employer reviews for Charles Schwab

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Helpful (3)

"A great company that is not so great to work for."

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

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

Pros

Good vision, product & services; relevant to the marketplace. Legally and ethically sound organization. Promotes diversity in management. Strong group of employees.

Cons

If you are hired in below your experience (something that happens to many in this economy) you will almost never advance. Low pay compared to similar jobs with other companies. Culture is very slow to consider or accept change. Lower level managers/directors are more motivated to pace themselves and their teams to extend their job security. Bureaucracy rules and mediocracy is the result.

Advice to Management

Ask of each director, "do you have 20 years experience or 1 years experience - 20 times?"

Other Employee Reviews for Charles Schwab

  1. Helpful (17)

    "RUN! Schwab is a dinosaur company that will eat your soul"

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

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

    Pros

    The work hours are very easy if 9 to 5 is your ideal this is the place to be. You get swanky leather bound paper notebooks to take notes in. If you are in San Francisco the location is mass transit friendly and centrally located. It will enable you to get to the job interviews you will be setting up after you start working here.

    Cons

    I am horrified by Schwab's outdated technology and tolerance of inefficiency. I SEROUSLY REGRET COMMING TO THIS COMPANY! This is a company that operates from decade old discontinued Compaq computers loaded up with Microsoft 2003! Directors and above can select the equipment they want but you will not be allowed this option. This is the first company I have worked at in the last 15 years where people come to meetings without ipads or laptops. File sharing, calandar syncing, FTP sites, and most of the tools you are accustomed to using are disabled or non existant at Schwab.There is no HR available other than for remote training. If you have any issues tough. There are few training programs. This is an ideal place to be constantly frustrated by inefficiency. The halls are lined with 15 and 20-year employees that are resistant to any change. When there are failures (there are a lot) they become an Schwab cheerleading squad and tell you how innovative they are. You will become sick of hearing the word innovative as you sit in your beige cube at your Formica desk with a Compaq. Your technical work skills will be guaranteed to erode. You will lose 1 to 2 hours work time per day due to IT issues. On the upside they give you nice leather bound paper notebooks so you can take notes. You you will need to have this as you will not be allowed portable technology at Schwab. Beware of the perks of getting to see a financial advisor. These guys will try to put you into Schwab's low earning funds. They have no grasp of emerging technologies or the landscape of the international economy. You will be forced to move all of your accounts to Schwab and will be forced to use their outdated and ugly trading platform. There are minimal holidays off. If you want to know what 1979 felt and looked like, come to Schwab.

    Advice to Management

    Stop saying that Schwab is an innovative company. You ARE a slow motion disaster of outdated thinking and technology. You currently have a 10.7% atrition rate amongst employees you should be alarmed. You cannot attract young or skilled talent due to your antiquated ways.


  2. Helpful (2)

    "TUMULTUOUS"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Denver, CO
    Current Employee - Anonymous Employee in Denver, CO
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Good benefits, generous paid time off.

    Cons

    At Schwab, you will be micro-managed to the inth degree. They don't pay very well either. If you work in the Banking call-center, you will be miserable. I haven't worked there in almost a year and I still have nightmares.

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

See Most Recent

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