Scottrade Reviews in United States | Glassdoor

Scottrade US Reviews

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United States

3.4
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Scottrade Founder, President, and CEO Rodger O. Riney
Rodger O. Riney
17 Ratings

21 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. "Scottrade Intern Review"

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

    Pros

    The pay is good for internship. Not a stressful job at all. Easily able to obtain time off when needed. A lot of learning available through internal courses. Everyone I've come in contact with whether it be brokers or managers, has been really nice and helpful. A lot of promotion from within. Job security is good.

    Cons

    New programs can be difficult to learn. Some procedures aren't clearly defined, which can create confusion.

    Advice to Management

    Provide better promotions to obtain new customers.


  2. Helpful (5)

    "Best place to work?"

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

    Pros

    There's never been a layoff - job security.
    Holidays and vacation days are good.
    The cafe has a top notch chef, and the food is great, thank goodness since we don't get a lunch hour and leaving the building to get take out is frowned upon.
    People are happy and friendly.

    Cons

    I don't view the bonus as extra income, just one way for them to hold on to my salary as long as possible. With the economy.....my bonus has never been lower, yet they keep hiring which dilutes the bonus pool. The 401K match is only made once a year (my previous companies matched with every paycheck), it's just another example of delayed compensation. Nepotism and favoritism are huge problems...well for those of us not on the "favorites" list.

    Advice to Management

    Get rid of the "bonus" and pay a competitive salary. Many of the reviews I read said how slow the pace is. I see people slacking off all day. Get rid of the slackers!! And the people on the take. I see so much abuse - people doing what they want and spending company money for their personal benefit. Doesn't anybody care that the economy is affecting us too???

  3. "Great place to learn about the financial industry"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Intern in Austin, TX
    Former Employee - Intern in Austin, TX
    No opinion of CEO

    Pros

    Flexible scheduling, competitive pay, great place to learn

    Cons

    Customers are rude, interns are used on the front lines

    Advice to Management

    Branch manager had not gone to school for finance


  4. Helpful (5)

    "Best Company To Work For. Really?"

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

    Pros

    Scottrade is a great example of entrepreneurism and captialism in America
    Scottrade was started by Rodger Riney in the 1980 and has grown into a great success story
    Scottrade is truly focused on making the best product available to their retail customers
    Scottrade really knows how to throw a party and plan events for its employees
    Scottrade is an excellent corporate citizen as demonstrated by its support of Cancer, Alzehiemer, and United Way
    Scottrade has a great on-boarding program for new hires

    Cons

    Scottrade's policy for promotion, advancement and fair treatment in the workplace is elusive for the average employee; it depends if you fall into the "favorite" group
    Executive, Senior, middle management and Supervisors are allowed to berat their employees in front of others and alone (no profanity used), blame and bully their employees
    The average employee has no voice with management or HR if a dispute/disagreement arises unless you are a "favorite"
    Favoritism is a huge factor on who receives information
    Three months is enough time to determine if you will fall into the "favorite" group or not. If you are deemed a favorite, Congratulations!
    If you are told your job performance is bad this could really mean "we do not want you here"; start looking for other opportunities because management will ensure your performance is bad, even if
    they have to fudge a little on the details.
    It is not uncommon for professionals to be micro-managed to the point of being treated like a clerical person unless you are a "favorite"

    Advice to Management

    Please consider treating ALL employees fairly and with mutual respect, your employees are comitted to Scottrade's success. Open respectful communication is a key success factor as Scottrade continues to meet and exceed the needs of its customers.


  5. Helpful (2)

    "Limited room for advancement."

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

    Pros

    Branch offices are a very convenient location to work at.

    Cons

    Brokers are very limited in what they can actually do for clients. You can at times feel worthless as you watch clients investment in many assortments of penny stocks. Since you get to make investment recommendations, it can be very difficult to describe the advantages of having a Scottrade account. Also, unless you plan on becoming a branch manager, there is very little room for advancement.

    Advice to Management

    Change the business from the top down. Begin offering advice and/or portfolio tools for clients.


  6. "Scottrade Branch Intern"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Stockbroker Intern in Indianapolis, IN
    Current Employee - Stockbroker Intern in Indianapolis, IN

    Pros

    This is a great internship to get your feet wet and learn about the brokerage industry. Scottrade is flexible with hours during school. I recomend this internship while being a full time student.

    Cons

    The upside potential in this company is limited unless you are willing to relocate to St. louis. If you are looking for a job that is not too challengeing Scottrade is perfect.

    Advice to Management

    I enjoy working at Scottrade. The only thing that is holding me back from wanting to be a full time employee is pay. Being in this industry I believe there is greater upside on pay at other companies.


  7. "Working at Scottrade"

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

    Pros

    The ability to just keep on moving up the latter once you have the right amount of education under your belt.

    Cons

    The work that is given to me i feel as though it is below what my knowledge level is once i find out the true procedures.

    Advice to Management

    If you have the oppertunity to et a job here i would strongly suggest it unless you can get ALOT more money somewhere else.

  8. "Great place to get licensed for free and get your foot in the Financial Services world"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Stockbroker in Dayton, OH
    Former Employee - Stockbroker in Dayton, OH
    Recommends
    Approves of CEO

    Pros

    Company match 401k (up to 50% of your contributions)
    Low Stress
    No quotas or minimum production requirements
    Potential to move to Branch Management if you are willing to relocate
    Also opportunities to advance in corporate

    Cons

    Slow work pace, can get boring
    Pay is pretty low for the amount of knowledge you have and the situation you are required to handle
    Bonuses keep getting lower and lower

    Advice to Management

    Make sure the department reps in the home office realize they are on the same team as us in branchland and we are their customers.


  9. Helpful (8)

    "good"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Developer in Saint Louis, MO
    Current Employee - Developer in Saint Louis, MO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Company is very stable
    Quaterly Bonus.

    Cons

    No Flex Hours
    Market Dependancy
    No Flex Hours
    Market Dependancy

    Advice to Management

    ................


  10. ""Overrall, a less than stellar internship opportunity.""

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Scottrade- Intern in Fort Lee, NJ
    Former Employee - Scottrade- Intern in Fort Lee, NJ
    No opinion of CEO

    Pros

    -Paid Internship
    -Flexible with schedule
    -Work is relatively easy
    -Manager is excellent at teaching certain skills that can translate into your professional career.

    Cons

    - Very mundane tasks
    - Can spend hours with nothing to do
    - NO PARKING ( Interns and Branch associates must PAY for their parking in Fort Lee) I wish I would have looked into that before leaving a good position I had to pursue this internship. My suggestion would be to not work at the Fort Lee branch if you want to conserve the cash.
    - Manager can be very rude and often yells to all employees. Can be intimidating, and stressful.

    Advice to Management

    Pay for the parking. Also, create a career path for all interns that gives them a more direct track into becoming an employee with Scottrade. It would enhance the overall intern experience and make a much more valuable learning experience.


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