Charles Schwab - Good company values, but just "okay" collegues | Glassdoor
There are newer employer reviews for Charles Schwab
There are newer employer reviews for Charles Schwab

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Helpful (1)

"Good company values, but just "okay" collegues"

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

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

Pros

-Company has a strong moral compass. You can sleep well at night
-Very good relationship with employees. Seldom do you see layoffs, division removals, etc..
-Clients like doing business with the company (for the most part - see below)
-If you are smart and work hard, easy to move up quicker than other companies

Cons

-Technology is very dated. Most employees still run Office 2003 and Windows XP, along with mainframe applications
-Employees tend to be older and have little ambition. This creates a workforce of people who are not good at innovating and are averse to change
-Client-facing technology is also dated, and this makes it hard for clients to do business with Schwab. This also creates many client escalations and stress-points
-Pay and bonuses are lower than other broker/dealers

Advice to Management

Move your stale, non-innovative employees out of the company. Shift away from mainframe and get the company into the 21st century. Stop telling everyone you are a "Challenger Brand" when you hardly ever innovate on anything important. It's annoying and no employees believe in it.

Other Employee Reviews for Charles Schwab

  1. Helpful (8)

    "A highly trained monkey..."

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

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

    Pros

    My coworkers are a lot of fun - and that's about all I like. I'm writing more now to meet the 20 word minimum, but there's nothing redemptive about this job or this company.

    Cons

    Low pay - among the lowest in the industry. I have a Series 7 and 63 license, and I make less than $40 grand a year.
    Miserable job - it's entirely reactive, unimaginative, and passive. There's no room for creativity or growth or development or even individual thought.
    Bad Technology - the computers barely work, they're still stuck running DOS systems, and their idea of an upgrade is Windows 8.
    Limited Advancement - They think that a lateral move is a promotion. They promise raises without coming through on it.
    Schedules - rigid, unreasonable schedules. You can't get time off, you can't trade shifts, and 30 minute assigned lunch breaks (mine is at 10:00 am - it's such a treat).

    All in all, you're treated like a child - told when to show up and when to leave, no flexibility in your schedule or your time. No independent thought, no creativity, no real opportunities. It's not a career - it's a job. And a low-paying job at that.

    Advice to Management

    I don't mind an empty, unfulfilling job that is not challenging or interesting or fun, but at least compensate us well for it. The clients range from clueless to hostile, and we're stuck dealing with it with "positive language". We don't have an opportunity to grow, and there's no real incentive to work hard, because even at our best, we're only getting the lousy salary you give us.


  2. Helpful (1)

    "Decent, but behind the times"

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

    I have been working at Charles Schwab full-time (More than 3 years)

    Pros

    Disciplined, financially prudent and ethical. Quality people and diversified product offerings.

    Cons

    Uninspiring leadership and way too many employees retired in place. Fun is limited as are pay and bonuses. Trying to innovate, but legacy behaviors and systems make this challenging.

    Advice to Management

    Rally the troops with a clear and aligned strategy. Toss the dead weight. Don't be so grumpy, loosen the ties and purse strings and have some fun! If you want engagement, be engaged.

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

See Most Recent

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