Charles Schwab - Great Company now Mediocre | Glassdoor
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There are newer employer reviews for Charles Schwab

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Helpful (4)

"Great Company now Mediocre"

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

Pros

For a firm in financial services, heavy focus on being ethical and helping the individual investor become financially fit. Survived the implosion - did not have to rely on TARP funds. Collegial culture with sense of strong work-life balance. Base salary fairly competitive.

Cons

Lack of career path development and opportunities for advancement. For a firm in the financial services, bonus is pathetic. CEO not very well liked; doesn't seem to fit in Schwab culture (SF Headquarters). Lack of diversity at senior and executive management level. Geographic strategy in place to relocate jobs to lower cost areas of the country reducing footprint in San Francisco and negatively impacting level of talent. Constant reorgs and layoffs have decreased morale.

Advice to Management

Learn to grow and promote people from the ranks. Why hire a VP with no experience in the business from another firm when you have Directors ready to move to the next level? Likewise with DIrectorships, why not look at talent at the Senior Manager level for opportunities to promote?

Other Employee Reviews for Charles Schwab

  1. Helpful (2)

    "Mixed reviews"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Manager in San Francisco, CA
    Current Employee - Senior Manager in San Francisco, CA
    No opinion of CEO

    Pros

    Flexibility of work schedules and hours
    VP's and below do want to listen to what you have to say, even if they are not empowered to make things better. They do try!
    Sabbatical
    Major company in a big city (for now)

    Cons

    A sense that no one on the top floor knows what's going on.
    Series of incomprehensible and contradicting org changes that appear to have been made without much thought.
    Brain drain in motion and momentum is picking up again.

    Advice to Management

    Don't rest on the laurels that prior management teams have built and view what seems to be great company financial performance as a result of your (in)compentency - it's all an illusion thanks to the current market condition - a perfect storm. You're just very good at blending numbers so that it's harder to see the 'bad' numbers.


  2. Helpful (8)

    "Schwab's lost that lovin' feeling..."

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

    Pros

    Founded on great values which resulted in a great place to work at one time. Generally Schwab treats employees pretty well and provides good benefits.

    Cons

    Think of themselves as a company that listens to and respects employees and provides a "collaborative work environment." But in reality it is driven extremely from the top down and has huge disfuction at the VP level (very territorial). Most Directors and Sr. Managers operate on a principle of shielding the VPs from any bad news or less that positive information about what is really happening and why. There is a lot of mediocrity within the Sr. Management ranks. Worker bees hope to get a good group of folks to work with and a decent manager to report to and are honorable about doing there job well and work hard/long hours to keep the lights on in spite of poor leadership and lack of acknowledgment from above.

    Advice to Management

    Instead of paying lip-service to or going through the motions of listening to your employees -- actually DO IT. Find a way to break through the hierarchical culture that creates impermeable barriers and isolates company employees into stratified layers. I also think a company founded in San Francisco should be more emblematic of the Diversity of this city -- needs to do more to bring in people of color -- Schwab should do a lot more to walk the talk in this area.


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

See Most Recent

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