Charles Schwab - Great place but beware contract | Glassdoor
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There are newer employer reviews for Charles Schwab

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Helpful (3)

"Great place but beware contract"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Marketing/Creative in Austin, TX
Former Employee - Marketing/Creative in Austin, TX
Recommends
Neutral Outlook
Disapproves of CEO

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

Pros

Great people producing really good work. Management is supportive and knowledgeable. The offices are decent and the cafeteria is really good (but overpriced). Overall a really good place to work

Cons

A large portion of people are technically full-time, in-house contract workers instead of employees, which saved Schwab money at your expense. Contract people come and go, often as a result of fluctuating budgets and through no fault of their own, so many people never get confident that they are going to be there long, so it's very unnerving.

Advice to Management

Stop the practice of signing so many people to contracts. If they seem like a good asset, hire them. It's borderline unethical.

Other Employee Reviews for Charles Schwab

  1. Helpful (1)

    "CS&S"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Registered Representative in Chicago, IL
    Former Employee - Registered Representative in Chicago, IL
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at Charles Schwab full-time (More than 5 years)

    Pros

    The corp side of the company is fare to the point of pay and benefits.

    Cons

    They let unqualified managers manage their people. Instead of promoting within, they go out and get their managers from less than great company's like E*Trade. They would rather go outside so there are no conflicts from promoting with in. They are afraid that if you promote someone, that others around them at their previous level wouldn't respect them. So you have a bunch of qualified people already in house, but instead you go outside the company to find, excuse my language, idiots, that have no idea what they are doing. I would say this wasn't the norm, but in my five years there I never saw anyone in the branches promoted, not anyone! But I did see a high turnover of idiot managers they hired from the outside world.
    I left because I was sick or working for idiots that I can honestly say a trained monkey could do a better job. Not to mention, they hired a few Mormon managers from Utah and immediately good employees started getting fired and funniest thing, they were replacing them with Mormons. Now tell me corp should have at least caught onto that.

    Advice to Management

    Stop hiring from outside! You have a ton of talent at the bottom, they just can't get anywhere because you keep hiring in people above them for outside of Schwab. It doesn't take much smarts to know, that hiring in managers and managers that have worked their way up are totally different people. Fact, people that have worked their way up understand the company's values and how to do their job along with how to do the jobs of the people below them. Another Fact, people promoted up the chain stay with the company longer. Another Fact on that subject, company's that promote within and employee's actually see this happening get to keep all their trained employee's longer, but when you are some place for 5 years and see no one promoted, you know it is time to move on!


  2. "Enjoyed working for Charles Schwab"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Business Systems Analyst in Phoenix, AZ
    Former Employee - Business Systems Analyst in Phoenix, AZ
    Recommends
    Approves of CEO

    I worked at Charles Schwab full-time (More than 3 years)

    Pros

    Intelligent, smart people. Great corporate culture. Opportunities for learning new skills.

    Cons

    Most perm employees tend to be overworked, so life/work balance becomes difficult. Pay tends to be lower than industry. Tends to hire from outside rather than promote from within.

    Advice to Management

    Continue all the great things you do to encourage employees to stay but add internal promotions and raises to the list.

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

See Most Recent

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