Charles Schwab - Committed to Customers - restrictive culture | Glassdoor
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Helpful (2)

"Committed to Customers - restrictive culture"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Contractor - Human Resources in San Francisco, CA
Former Contractor - Human Resources in San Francisco, CA
Recommends
Neutral Outlook
Approves of CEO

I worked at Charles Schwab as a contractor (More than a year)

Pros

Absolute dedication to it's clients
Always ask "is this the right thing to do for our customers" before making business decisions
Very high integrity from top down

Cons

Very slow moving
Beauracratic
Sr. HR leadership is more concerned with their own careers than those of employees.
quiet

Advice to Management

Foster Innovation from the bottom up more

Other Employee Reviews for Charles Schwab

  1. Helpful (9)

    "Do Not Work in Advisor Services"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Relationship Specialist in Orlando, FL
    Former Employee - Relationship Specialist in Orlando, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    The manager's are for the most part, great people. Great people. Enjoyed each of the managers that I worked under. Co-workers were good too.

    Cons

    Before I give this scathing review, please know that i won multiple performance awards at Schwab and was highly regarded by my superiors. That said... Advisor Services is brutal. That place is a revolving door with mass departures after bonus time in mid-March. Anyone who has worked in a professional environment will die from the petty micro management. The directors are clueless. About 8 years ago Schwab was in a tough spot because they were treating clients terribly and it hurt the business. They learned their lesson and stopped treating clients terribly. Now they have a new strategy... treating employees terribly. They have slashed pay and benefits and yet demanded more and more work. This year, healthcare was slashed to being stuck with high deductible plans. United Healthcare who is Schwab's provider in Florida, will even tell you over the phone that they can't believe how badly Schwab employees got screwed by the plan change from 2012 to 2013. This little tidbit should be insightful in helping you determine how much senior management values employees: attrition was so bad over these past 6 months that the middle management had this genius idea of creating a "Hire Ahead Program." They literally hire people in advance in order to prepare for people constantly leaving. When somebody leaves they just throw the next warm body off the "Hire Ahead Team," in the chair. Talk about a morale killer; they are effectively telling you that some guy off the street is just as valuable as your multi-year contributions to Schwab. Management believes you are so disposable that they would rather hire people with no experience in preparation for you to quit under the low pay and outrageous workload. That is how much they value you. Even crazier... If you get "experience" in the department (working more then 1 year is what they would call "experience") then you will get more "special roles" without a dime of extra pay. More work less pay. Hello! Pulling a page straight out of the Communist Manifesto. Lastly, say everyone on your team is responsible for three advisors, you all get paid the same. That is fine. But then let's say John Doe leaves your team and so his three advisors should be given to a new person. But no, John Doe's advisors want you. They want you because they think you are great. Schwab isn't going to tell a billion dollar advisor that they are stuck with the new person so they give you two of the three extra advisors from the person who just quit. You tell your manager, "This is crazy, I need more money." Nope! Now you have more advisors, plus your special roles and you make the same as the guy who takes half the phone calls as you and does half the work you do. Bottom Line... Less pay, falling pay scale, slashing benefits, understaffing, revolving door, so stressful that they would be wise to start mixing Xanax with the water. Stay Away.

    Advice to Management

    My advice to upper upper management: Fire all of middle management. They are incompetent.


  2. Helpful (4)

    "Bullying in Corp America"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Bus Ops in Phoenix, AZ
    Current Employee - Bus Ops in Phoenix, AZ

    I have been working at Charles Schwab full-time (More than 8 years)

    Pros

    You get paid to get abused

    Cons

    You get micro-management not only on a daily basis but every hour on the hour, talk about favoritism, you could be gone for 6 weeks or longer and get a nice bonus for not doing your work as others did it for you. Middle management is only there to look out for them selves and not you. Currently you see a lot of headlines about Paula Dean, well what goes on inside of Schwab is far worse then that. I know first hand and have witnessed managers intentionally disrespect other religions like Muslims, Jewish as well as atheist and what is sad HR direct does nothing to protect these people they only protect managers.

    Advice to Management

    mid managers must go too many bigots

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

See Most Recent

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