Scottrade Reviews | Glassdoor

Scottrade Reviews

37 reviews

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3.8
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Scottrade Founder, President, and CEO Rodger O. Riney
Rodger O. Riney
32 Ratings

Employee Reviews

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Pros
  • Great work/life balance for employees (in 119 reviews)

  • 401k match, weekends off or should I say on parole (in 52 reviews)

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

  • A glass ceiling exists unless you choose to move to St Louis where the corporate office is located (in 28 reviews)

More Pros and Cons

  1. "Great learning experience"

    Star Star Star Star Star
    • 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"

    Star Star Star Star Star
    • 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"

    Star Star Star Star Star
    • 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.


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  5. "An Amazing Company"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Approves of CEO

    Pros

    I love working for Scottrade, they truly foster a family environment and give amazing growth opportunities.

    Cons

    If you want to grow within the company it will sometimes require relocation which is hard on family, it makes one sometimes feel as though they can't move up the ranks because they don't want to move.

    Advice to Management

    Keep up the amazing work and great company!


  6. "Not a Bad Place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Approves of CEO

    Pros

    Good Salary, Good Benefits, Good opportunities

    Cons

    IT is somewhat of a sweat shop. Private company means you are either inside the circle, or outside

    Advice to Management

    There are some employees there at a pretty high level that are dishonest, on the take, and lack integrity. This is known, but nothing is done. HR is feared, and is inconsistent, and has a list you don't want to be on


  7. Helpful (2)

    "Can't move up. No appreciation for hard work."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Manager
    Current Employee - Branch Manager
    Doesn't Recommend
    Approves of CEO

    Pros

    Easy work. Mostly friendly people. Benefit package is decent. There is usually a branch near where you live. Honest CEO.

    Cons

    Dealing with the same customers and the same questions day after day gets to you. Growth in company has a cap.

    Advice to Management

    It's a good and honest company, but the setup limits you as far as how far you can go. Once you're a branch manager, that's it unless you want to uproot your family and move to St. Louis. Hard work goes completely unnoticed and unappreciated.


  8. "Great Internship"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Intern
    Former Employee - Intern
    Recommends
    Approves of CEO

    Pros

    Scottrade's internship is informative, and useful. Great environment and great training tools. The exposure to the markets is a great thing.

    Cons

    Once you are in you do realize that the branches are the lifeblood, and there is little advancement outside of branch manager

    Advice to Management

    The company is fantastic and it is heading in the right direction, my suggestion would be to have more recruiting from the branches to the home office.


  9. "Good experience"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Intern
    Current Employee - Intern
    Recommends
    Approves of CEO

    Pros

    Excellent place to intern while you are a full time student
    Associates are very friendly and helpful
    Learning environment, I learn something new almost daily

    Cons

    Similar to a call center at times- answering phones and making phone calls all day
    Not much job growth

    Advice to Management

    Increase employee salaries


  10. Helpful (2)

    "Not for the ambitious."

    Star Star Star Star Star
    • 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.


  11. "Decent place to work but very monotonous"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Approves of CEO

    Pros

    Good benefits, okay pay, and very horizontal in the structer of management. There is not layers of middle managment contantly looking over your shoulder.

    Cons

    Very monotonous without much reward for working hard. The job is not very challenging in reguard to making important business changing decisions.

    Advice to Management

    More competitive pay and room for advancement would change everything. The job is very robotic and repetitve. Employees need to be rewarded more for hard work.