Scottrade - Striving to be average. | Glassdoor
There are newer employer reviews for Scottrade
There are newer employer reviews for Scottrade

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Helpful (3)

"Striving to be average."

StarStarStarStarStar
  • Career Opportunities
Current Employee - Anonymous Employee
Current Employee - Anonymous Employee

I have been working at Scottrade full-time

Pros

They offer a competitive benefits plan including, 401k matching, health, and dental. They want to have a fun work environment.

Cons

They are always two step behind the competition when it comes to technological developments.

Advice to Management

Adopt the business models of your competitors.

Other Employee Reviews for Scottrade

  1. "Feels like a large family"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Stockbroker
    Former Employee - Stockbroker
    Recommends
    Negative Outlook
    Approves of CEO

    I worked at Scottrade full-time (More than 3 years)

    Pros

    401k matching
    Wellness benefits
    Health Insurance
    Technical support

    Cons

    Limited vacation days
    Limited advancement
    Days and long and boring--answering unsophisticated investors questions all day long
    Bonus plan is very low
    Overall pay was no where near orginal job estimates
    Quarterly performance reviews, much effort, little reward - much of bonus is based on Customer Statifaction for branches and branch is responsible for things that they have no control over.

    Advice to Management

    Add additional vacation days
    Allow for regional positions that would allow for more upward mobility
    Do annual and semi-annual performance reviews/bonus plan instead of quarterly
    Reward branches based on asset gathering, profitablity, etc.


  2. Helpful (4)

    "How many BAM's does it take to come up with a new Compensation Plan?"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Stockbroker
    Former Employee - Stockbroker
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Scottrade full-time

    Pros

    Easy job
    No Layoffs
    Nice coworkers

    Cons

    Low pay
    Boring job
    No Layoffs for the competent and unfortunately also the incompetent
    No incentive to "go above and beyond."
    HR attends a seminar, skims the titles of a motivational book, then draws up Mary's thoughts in crayon; which are then publicized on the Insider for employees to read.
    Scottrade's current view of their ideal client is laughable.

    Advice to Management

    1. Hire an outside firm to draw up a competitive compensation plan
    2. Give employees a 2-4 quarters to adjust to said compensation plan
    3. Layoff employees that are poor performers
    4. Compensate employees who are above average performers
    5. Consolidate under performing and under utilized branches by actually utilizing Siebel applications and tracking walk-in/call flow activities
    6. Get rid of the useless layer of management known as the BAM's
    7. Reduce options commissions
    8. Increase vacation time

    If they want any more advice they are going to have to pay me as a consultant.

There are newer employer reviews for Scottrade
There are newer employer reviews for Scottrade

See Most Recent

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