Charles Schwab - Retirement Plan Services | Glassdoor
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There are newer employer reviews for Charles Schwab

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Helpful (1)

"Retirement Plan Services"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Retirement Plan Services Associate in Phoenix, AZ
Current Employee - Retirement Plan Services Associate in Phoenix, AZ
Doesn't Recommend
Neutral Outlook
No opinion of CEO

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

Pros

This department has a knack for hiring friendly and competent employees at the entry level.
Company is very ethical to participants. Reps are encouraged to position Schwab products when appropriate. This means you won't lose sleep at night over selling people on stuff they don't need. Lateral promotions are very common.

Cons

Managers' responsibilities are passed along to reps with no additional pay increases.
Maximum annual bonus never exceeds 3K and is easily lost if reps are even a fractional percent away from goal.
Getting licensed or promoted to "proficient" status does not include a pay raise.
Department is relatively unknown to the greater organization.
Company is so focused on running fiscally lean that annual reviews don't keep up with inflation.
Understaffing is a significant issue and often leads to call volume spikes and little-to-no vacation time
Attendance policy is very strict. Time-off is difficult to schedule due to understaffing and reps cannot have more than two unscheduled absences, sick time, or late-arrivals within a 90-day rolling period or they will be written up.
Management is very top-down There is little to no room for any recommendations to improve productivity. A request for more effective/efficient resources is often answered by management with a solution that involves more tedious responsibilities of reps.

Advice to Management

Invest in technology and the well-being of your representatives. This department is a revolving door because pay-raises are practically non-existent, bonuses are small, new assets under management does not reflect in reps' bottom-line, management does very little to streamline processes and technology necessary to aid reps in day-to-day activities.

Also, pass of some of the profit from the converted retail leads to Retirement Plan Services reps. These reps are the face of Schwab and deserve some of the commissions/revenue that they generate.

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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