Scottrade Reviews in United States | Glassdoor

Scottrade US Reviews

18 reviews

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United States

3.7
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Scottrade Founder, President, and CEO Rodger O. Riney
Rodger O. Riney
14 Ratings

18 Employee Reviews

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Pros
  • Work/Life Balance is a great perk (in 135 reviews)

  • Good people, 401k match is amazing (in 60 reviews)

Cons
  • This practice also doesn't leave room for advancement because incompetent people get promoted and stay there (in 31 reviews)

  • Slim chances of full time employment unless you move to St Louis (in 29 reviews)

More Pros and Cons

  1. "Great learning experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Intern in Tampa, FL
    Current Employee - Intern in Tampa, FL
    Recommends
    Approves of CEO

    Pros

    Great learning experience, very fast paced, lots of responsbilities.

    Cons

    10$ an hour, not many room for advanced unless you want to move to St. Louis Headquarters.

    Advice to Management

    Only promote people with degrees.


  2. "Good place to get industry experience while still an undergraduate student"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Stockbroker Intern in Chesterfield, MO
    Current Employee - Stockbroker Intern in Chesterfield, MO
    Approves of CEO

    Pros

    Flexible work hours
    Ability to do homework while at work
    Starting Pay: $10.00/hour
    Opportunities for raises every 6 months ($0.50 increments)
    Good job security

    Cons

    If you are a hardcore finance major you don't get to use your skills
    Compliance is overbearing and limits client interactions
    No benefits
    Compensation low compared to competitors for college graduates
    Bonuses decreasing

    Advice to Management

    While I think Scottrade is a great company my recommendation is critical. Slow your expansion.. Scottrade is growing so quickly it is becoming cumbersome and most importantly its cashflow is not growing proportionally to the growth of the company. This translates to slower pay growth for the full-time employees and degenerating bonuses.

  3. "Review"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Broker in Jersey City, NJ
    Current Employee - Broker in Jersey City, NJ
    Recommends
    Approves of CEO

    Pros

    Good overall company with a good environment.

    Cons

    Little room for advancement for a college student.

    Advice to Management

    Create more opportunity for growth. Expand knowledge of employees in all aspects of securities industry. Implement mandatory Scottrade elite employee seminars.


  4. Helpful (2)

    "Not for the ambitious."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Stock Broker in Cincinnati, OH
    Current Employee - Stock Broker in Cincinnati, OH
    Approves of CEO

    Pros

    Great 401k match & satisfactory health insurance. Also reimburse for gym memberships.

    Cons

    Salary is very low and advancement opportunities are almost non-existent unless you want to relocate to St Louis. Is a great place to work if you like to be mediocre...ambitious & driven employees will be frustrated.

    Advice to Management

    Empower your branch employees! Give professional employees more flexibility in how they do their job instead of robotic orders from HQ.


  5. Helpful (2)

    "Good intro job for the industry, no upward mobility"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Held A Few in Saint Louis, MO
    Former Employee - Held A Few in Saint Louis, MO
    Doesn't Recommend
    No opinion of CEO

    Pros

    The people are great to work with, friendly, caring etc. They give you opportunities to develop and get licenses.

    Cons

    Senior mgmt is fairly clueless on how to keep employee morale high, and a majority are not competent enough to be in their current role. If you play the "buddy system" right and stick around over 10+ years you will be rewarded, but not because of your knowledge base. HR rules with an iron fist and buts in too much on the business side. Salary is not competitive, and bonuses are next to nothing. If you speak up on major issues you will dig a hole you cannot get out of, even if you do it in a professional manner. Too many senior managers are more worried about building their own empire vs. growing the company.

    Advice to Management

    Listen to your employees when it comes to career pathing and salary. Promotions should be based on knowledge and merit, not based on tenure and who you rub elbow with. Growing the firm at the expense of the livelihood of the employees is not the way to go about it.


  6. Helpful (2)

    "I remember when we used to solve problems in IT"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Developer in Saint Louis, MO
    Current Employee - Developer in Saint Louis, MO
    Disapproves of CEO

    Pros

    - You can really tech up and expand your skills
     - They really do hire some of the best and brightest
     - The people I work with are why I have not gone insane
     - The benefits are very very good
     - At least we still get bonuses

    Cons

    - Every quarter is seams bonses go down
     - You can FAIL UP the ladder
     - If you work for them 10 yrs / 5 yrs / 6 months you are treated the same
     - in development, there is NO, NONE, NADA, ZERO, ZILCH room for advancement, once you are hired as a developer, a developer you will be for eternity.

    Advice to Management

    wake up and smell the coffee. Just because things are bad now does not mean when they pick up your people will stay. The IT department IS your life blood, without it work would stop. How about showing them a little respect now and again and realize that maybe we CAN do something right if you would let us!


  7. "Overall, Scottrade is one of the best places to work, and they're still hiring and growing in this difficult economy."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Service Center Stockbroker in Saint Louis, MO
    Current Employee - Service Center Stockbroker in Saint Louis, MO
    Recommends
    Approves of CEO

    Pros

    It is a great place to work as the people are friendly and welcoming. Everyone is approachable and willing to help. There are fun perks such as drawings for event tickets; and the medical, dental, and vision benefits are fantastic.

    Cons

    I really do not enjoy the call center environment, but many other brokers seem to like it. During high-volume times, it is hard to keep up with all the communication and assigned online training courses.

    Advice to Management

    It would be nice if we could transfer to another department after 1 year rather than 2.

  8. "Scottrade is a great place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Stockbroker in Saint Louis, MO
    Current Employee - Stockbroker in Saint Louis, MO
    Recommends
    Approves of CEO

    Pros

    I really enjoy working at Scottrade. It's got the small company feel with the large company benefits. It's a great place to work.

    Cons

    I believe the pay could be better. I have heard some other competor pay schedule far exceeds Scottrade's. This could also attribute to their instability.

    Advice to Management

    Be more proactive regarding employee pay. The benefits are great but the pay cold be better. I enjoy working for Scottrade.


  9. "GOOD"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Intern in Stow, ME
    Current Employee - Intern in Stow, ME
    No opinion of CEO

    Pros

    Descent pay. Good to first work out but like it will be a place to build a career. Just look into it

    Cons

    No growth there is no growth. I feel like i am limited everyday but it is ok the job is good

    Advice to Management

    Stop expanding and pay interns and staff more i feel like the long run they will be like starbucks expanding too fast which will fail.


  10. "Good place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Stock Broker in Saint Louis, MO
    Current Employee - Stock Broker in Saint Louis, MO
    Recommends
    No opinion of CEO

    Pros

    -enjoy my time at work
    -direct contact with customers
    -like the office atmosphere

    Cons

    -customers aren't the smartest always

    Advice to Management

    let the branches do their own thing more


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