Scottrade Reviews | Glassdoor

Scottrade Reviews

21 reviews

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Pros
  • I enjoying working at Scottrade due to great opportunities for work life balance (in 127 reviews)

  • 401k match, weekends off or should I say on parole (in 56 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 Place to Work"

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

    Pros

    Excellent atmosphere and work environment, fair and transparent workplace, growing business with opportunity for full-time employment and advancement. Overall, I would recommend Scottrade to anyone interested in Investments, Brokerages, or the Finance Industry.

    Cons

    Can be a lack of challenges in the workplace. Limited competition and incentive to attain business compared to most brokerages. At times the working day can be slow.

    Advice to Management

    Increase employee incentive to gain business.


  2. "Great Place to Intern"

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

    Pros

    Camaraderie developed amongst employees
    Hands- on experience (i.e. one on one client interactions)
    Continuous opportunities to learn and develop skills

    Cons

    Lunch breaks are very minimal and limited. Often employees must take lunch at their desk and set it aside when dealing with clients. So essentially there are no breaks. Unless you clock out for 30 mins.

    Advice to Management

    Riney is doing an excellent job thus far as a leader. If any advice is to be given it is for individual departments be readily more available to branches.


  3. Helpful (1)

    "Depends on what you're looking for..."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Los Angeles, CA
    Former Employee - Anonymous Employee in Los Angeles, CA
    Recommends
    Approves of CEO

    Pros

    Small branch environment makes it easy for you to interact with other employees; technology in terms of computer and software was really great.

    Cons

    Unless you're working at HQ, it's hard to see opportunities for advancement. Once you're a broker, you may eventually become a branch manager, and then what?

    Advice to Management

    Keep expanding branch size, keep the helicopter for commercials because it's awesome, and giving employees gifts is always appreciated, especially in hard times!


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  5. Helpful (1)

    "Wonderful place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Manager in Covington, LA
    Current Employee - Branch Manager in Covington, LA
    Recommends
    Approves of CEO

    Pros

    Contrary to some of the other reviews, I found many opportunities for advancement. I started as a Financial Office Assistant and am now a Branch Manager. If you are willing to relocate there are even more opportunities for advancement. Scottrade is also committed to promoting from within which creates low turnover and a very dedicated workforce. Scottrade also provides a comprehensive benefits package. They offer paid vacation & sick time; health, vision, and dental insurance; and even wellness benefits. I love working for Scottrade.

    Cons

    There aren't many cons to working at Scottrade. The only one I can think of is the office size. The offices generally have 2 - 5 fulltime associates. During busier seasons it can be difficult to take time off. Having said that, Scottrade makes every effort to find coverage for branches that have an a need for it.

    Advice to Management

    Keep up the good work. Your committment to Scottrade employees and clients is evident.


  6. "Discount broker"

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

    Pros

    No cold calls or sales. Lots of reports, the branch acts like a call center with some walk in traffic. You work with great people and every manager I have encontered have been reall helpful and want you to succeed. Really great functions and things to do if you work for corporate. Has won mulitiple best places to work awards and I think that it is a great place to work.

    Cons

    Small group you work with all day, (3-5 people) if you want to advance or do something else besides work in a branch, you have to be in IT or move to headquarters in Saint Louis MO. Salary is below what a normal licensed person would receive.

    Advice to Management

    Slow down on opening branches. Let the company grow more organically. Great management and executives. Wish there was more ways to advance in the branches.


  7. Helpful (14)

    "If you are into IT, do NOT work here"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Subservient Slave - Worker Bee in Saint Louis, MO
    Current Employee - Subservient Slave - Worker Bee in Saint Louis, MO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Benefits are great. That's it.

    Cons

    With all the people we are hiring, and branches we are opening bonuses are down. I don't care what management says about "interest rates", it doesn't help when you open 2 branches a week and have to hire 2 - 4 people per branch and double/triple/quadruple the size of some departments. Guess what? The pool gets smaller to share. Also, if you are even considering working in the IT development department (especially the web side) GO SOMEWHERE ELSE! It used to be about fixing problems and getting work done. Now it's who can we blame and how can I make myself look better to my supervisors. It's constantly working under a cloud of fear of being fired. Being called out by your supervisor in front of all your peers, being "teased" about being fired, being constantly reminded that you've made mistakes and are being watched at all times makes every person work in fear. When people are complaining about physical reactions from work, pain, soreness, tense, uptight, work should not be like this.

    Advice to Management

    Ever since certain people have come into new titles and power, Scottrade has become more of a sweat shop instead of a job. Business is not our "customer" anymore, they are our slave drivers. Our supervisors , not matter how they may "act", treat us as their personal gophers. Unless you can change the core attitude, Scottrade as a company is doomed when the economy gets better. Listen to your workers Rodger, listen to what the real workers are saying, not your "management", they don't care about the company, only padding their resume.


  8. "Great Company To Work For"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Manager in New York, NY
    Current Employee - Branch Manager in New York, NY
    Recommends
    Approves of CEO

    Pros

    The culture and people are second to none. Management strives to make it a wonderful place to work for and they truly succeed.

    Cons

    In my opinion there are no cons to working at Scottrade. If anything, the lack of advancement to senior management, which is perfectly understandable because HQ is in St Louis. Although, management does offer promotions to qualified branch employees.

    Advice to Management

    I believe management does a great job and I am 100% happy with my company and the decisions that management has made.


  9. "Great place to learn."

    Star Star Star Star Star
    • 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

    Great place to learn about discount brokerage indus.

    Cons

    No where to really move a broker.

    Advice to Management

    No comment


  10. Helpful (2)

    "Unprofessional manager and working envirment"

    Star Star Star Star Star
    • 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
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Good benefit, easy job, overtime income

    Cons

    No space to improve, work with a group of unprofessional people who are not very educated!

    Advice to Management

    Be more professional!


  11. "Great Place to Learn"

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

    Pros

    Scottrade has a great intern program. You will have a chance to learn the workings of an online brokerage firm. There are plenty of opportunities to have senior brokers explain anything about the market that you don't know. My manager is very helpful and creates a good work atmosphere. Easy to learn most day to day operations.

    Cons

    Limited growth on the branch side unless you move to the corporate offices. No formal intern program, so you should constantly ask questions. Day to day can get monotonous.

    Advice to Management

    Offer more opportunities for growth.