Charles Schwab - Not What It Appears | Glassdoor
There are newer employer reviews for Charles Schwab
There are newer employer reviews for Charles Schwab

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Helpful (2)

"Not What It Appears"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Client Services in Austin, TX
Current Employee - Client Services in Austin, TX
Neutral Outlook
Approves of CEO

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

Pros

- work/life balance
- great coworkers
- decent benefits
- company invests heavily in continuing education/licensing

Cons

- lower than industry average pay/bonuses
- not much room for advancement
- not very innovative
- technology is beyond terrible

I read numerous reviews before being hired about the technology (or should I say lack thereof) but seeing is believing and it's every bit as bad as people said it was. It's demoralizing to say the least when you're constantly being compared to Fidelity or being asked by clients why your company can't innovate. They are lagging behind when it comes to technology not only for external clients but internally as well. Windows 2003? Come on, Schwab. I had such an old version of Excel that I couldn't even open some spreadsheets sent to me by clients. That's a MAJOR problem but Schwab's management doesn't seem too concerned.

The pay is also lower than the industry average but it's not terrible. The opportunities for advancement are more of a sore spot than the pay in my opinion. I was told BY MY MANAGER that promotions are given when it's cheaper for them to bump you up to the next pay grade than give you another raise. Did I mention that was told to me BY MY MANAGER?! Who says stuff like that to their employees??? There haven't been any openings in my department but I've noticed in other departments that there doesn't seem to be much promotion from within. There is not a lot of cultivating of internal talent and that has a huge effect on morale.

It's not a horrible company by any means but it's definitely not a place to stay for 10 years either. My recommendation? Unless some things change around here, start your career here and leave once you've got the name on your resume.

Other Employee Reviews for Charles Schwab

  1. "Good place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Staff Software Engineer in San Francisco, CA
    Current Employee - Senior Staff Software Engineer in San Francisco, CA
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Good work/life balance
    Stable company
    Good salary and benefits
    Paid Sabbatical every 5 years is truly awesome

    Cons

    A little bureaucratic/political, especially between internal groups
    Not all of your fellow employees are fully engaged
    Company is very conservative when it comes to new technologies


  2. "For the most part this was a good work environment"

    Star Star Star Star Star
    Former Employee - Administrator in Coppell, TX
    Former Employee - Administrator in Coppell, TX

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

    Pros

    Great benefits, friendly co-workers and good location

    Cons

    Working long hours during month end. Managers micro manage

    Advice to Management

    Management needs to stop micro-managing

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

See Most Recent

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