Charles Schwab - Good place to work but the pay barely covers the mortgage. | Glassdoor
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There are newer employer reviews for Charles Schwab

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Helpful (1)

"Good place to work but the pay barely covers the mortgage."

StarStarStarStarStar
  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Manager in San Francisco, CA
Former Employee - Manager in San Francisco, CA
Recommends
Disapproves of CEO

Pros

Great benefits
Friendly atmosphere
"Team oriented" is not an empty phrase
Good social environment
Decent work/life balance
For the social activist, pushes the limits of benefits and work environment for the gay community. (But there's speculation that Bettinger might start slowly changing this).

Cons

Hands out titles like loose change and pays about as much. Pay is below median.
Managers are uncommitted to the success of their employees. HIres too many temporary consultants who leave after a few months.
Work standards can be low and some people don't know how to use common applications. Some employees need help with basic Excel functions like lookups or adding columns.
Big hit to morale because of push to decentralize work from SF to Florida, Arizona, New Jersey, Denver, and other places.
For those interested in subjective rumors, Bettinger brings a culture of nepotism, conservatism, and ruthless bottom-line cost-cutting.

Advice to Management

Revamp pay policies and entitlements to titles.

Other Employee Reviews for Charles Schwab

  1. Helpful (2)

    "Ready to move on..."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Advisor Services in Orlando, FL
    Current Employee - Advisor Services in Orlando, FL
    No opinion of CEO

    Pros

    -Great place to learn the cliches of working in a "corporate environment" - even though you only have to wear jeans (although if you do, you likely will not be noticed and cast aside as an underachiever)
    -Great benefits (401k match is 5% and insurance is United Healthcare which isn't bad)
    -Employee Stock purchase plan is medicore
    -Deal with many aspects of the backoffice operations (not including trading) so good experience there
    -Right out of college pay is competitive - but it ends there as advancement and bonuses are almost insulting
    -Management consists of "teams". Your manager of your "team" can be AMAZING or WRETCHED. It is the luck of the draw and can determine your entire career at Schwab as far as placement, transferability, and growth.

    Cons

    -Employee appreciation is horrible - upper management "wants" to care... but it doesn't trickle down the ladder very well as your manager is likely too busy to give you recognition
    -This is a call center... love it or leave it (like me... I'm actively searching and I've only been with the company 2 years... I am even considering a pay decrease to move to another firm)
    -Horizontal movement at best. Even the managers and Team Leads there say they don't want to be there in 5 to 10 years... its a blackhole... you get comfortable working with great people and before you know it, you die there.

    Advice to Management

    Voice your employees opinions to upper management. Don't be afraid to standout and speak out to what is bothering your employees. Everyone gets the sense that they are too afraid to STAND UP and speak the obvious... that the general morale of the employees is very low because little is done in terms of true recognition and fairness (they WILL overwork YOU while the guy next to you twiddles his thumbs all day - with no extra compensation - heck, he probably makes more than you do anyway).


  2. Helpful (1)

    "Good place for broker training"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Phoenix, AZ
    Former Employee - Anonymous Employee in Phoenix, AZ
    Doesn't Recommend
    No opinion of CEO

    Pros

    Broker training program is great. You get hands-on experience along with one of the best training programs in the industry.

    Cons

    Pay is very low for the industry. Promotions don't usually lead to raises, so you have more responsibility but are not fairly compensated for the extra work.

    Advice to Management

    Offer better compensation to employees to reduce turnover.

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

See Most Recent

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