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Scottrade Reviews

28 reviews

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Pros
  • Great Firm; great culture; good work/life balance; great brand name recognition; Midwestern firm (in 133 reviews)

  • Good people, 401k match is amazing (in 58 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. "easy rewarding job"

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

    Pros

    easy job compared to other brokers. no quotas!

    Cons

    no commission. explosive growth has slowed.


  2. "Tedious but otherwise easy job"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Oakland, CA
    Current Employee - Anonymous Employee in Oakland, CA
    Recommends
    Disapproves of CEO

    Pros

    - Great noncompeting atmosphere
    - Team environment
    - Great PTO and benefit package

    Cons

    - Lack of advancement opportunities within branch associates
    - Ancient technology
    - Old school marketing and product offering
    - Everything blah....

    Advice to Management

    Stop all the unnecessary marketing programs and promote capable employees who has great ideas to take company to next level. Replace the aging system with new system to improve downtime.


  3. "Good experience working at Scottrade for 5 years"

    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
    Recommends
    Approves of CEO

    Pros

    Hard work will lead to advancement as long as you prove knowledge in your subject matter.
    Many areas are open to enhancements as long as methodical proven steps are used to reach goals.

    Cons

    Experience input is sometimes unreasonable or lacking in a business sense
    Project process while workable can be cumbersome and lengthy
    IT tends to dictate to the business

    Advice to Management

    IT needs to completely understand brokerage and work with the business regularly
    Senior Management doing a good job informing all levels regarding the state of the business.


  4. "Slowly getting less and less Great"

    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

    Roger is great and his ethics and attitiude really flow within the rest of the company. I have been in full service before and this job is MUCH easier. No stress at all except for the occasional jerk of a client. I would say we get paid fairly for the work we do, which is pretty dam easy. I don't know why so many people here are complaing about the pay, if you dont like it then go cold call or go door to door in full service or go to TD or Fidelity and get treated like a number and have no job security. Overall, this is a great company to work for!

    Cons

    Starting to get more and more decentralized. I get the feeling that some people are looking for ways to validate their job. The culture is becoming more and more "un-scottrade like" and more like (cough) Ed Jones. Some BOMS are great, others are hated by their employees. WAY to many people work at the branches including too many interns, 85% of the time I am looking for stuff to do. I would say I only do about 2 hours of real work a day. This company just looks for excuses to spend money.

    Advice to Management

    Be more consistent about the type of people you hire to be BOM's. Cut about 25% of the workforce from the branches, there just is not enough work to go around. Stop the wastfull spending on everything from 5 million internet ads, remodeling perfectly good branches, and all the other things that people are doing just to validate their job as I said before.


  5. Helpful (2)

    "Presently keeping options open"

    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
    Doesn't Recommend
    No opinion of CEO

    Pros

    Great Place to expand knowledge

    Cons

    Salary is low, Promotion from within,


  6. Helpful (1)

    "good if you like to push paper, good place to start, not for the ambitious"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Stockbroker in White Plains, NY
    Current Employee - Stockbroker in White Plains, NY
    Approves of CEO

    Pros

    ok health, vision, & dental insurance, pay for 4 months of gym membership per year (up to $250 or $400 I believe), gave $50 american express gift cards as a holiday gift for 2010

    Cons

    call center type atmosphere, not for the ambitious, do A LOT of paperwork, help clients who really shouldn't be trading


  7. Helpful (6)

    "A learning experience to never be forgotten."

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

    Pros

    Scottrade is a great place to start your career. If you can put in 3 or 4 years, you will be able to gain enough knowledge and skill to find a better place of employment. Scottrade has a good name in the IT industry here in Saint Louis, but it is not a place that one would want to remain for any length of time.

    Cons

    Starting with the management at the bottom of the rung and moving up to the top of the ladder, incompetence best describes the managerial style at Scottrade. Many of the supervisors and managers have been promoted from within only because they are willing to work for so much less. Those that are hired from outside the company are tasked with ways to boost moral or make changes based on previous experience but when they try, they are told no or "that's not how we do things here." Senior management does not have a clue as to what certain departments do; what their functions are.

    Moral is very low throughout IT. Most of this is salary & work/ life balance. Executive management tells us in meetings that Scottrade is not a 9-5 job and that if we don't like it, then "you should leave and find employment else ware." They then tell us that the "grass isn't greener on the other side." It is incredibly offensive and insulting to hear this on such a regular basis. How elitist of them to treat the associates in such a manner. The salary is very low as well. They expect salaried employees to work 55 hours a week but they don't compensate them for the overage. Hourly employees who work over are told "well at least you get paid overtime." Again, offensive. You are told that a quarterly bonus makes up for some of the lack in salary as it is performance based; the better performance, the better the bonus. Bonuses have been going down for years and the last one was merely a couple hundred dollars. When your salary is 1/2 of what the market standard is and the bonus is to make up the difference, a couple hundred does not make up for it.

    The politics of the environment play an important role insomuch that you find yourself doing and saying things just so that you don't get written up. You have to "play nice" with your direct supervisors who do not know how to manage; they have no previous managerial experience nor do they get the proper training.

    The best way to describe how the IT department that I work in works is to say that it is bush league. It is the little league of the IT world and this is made obvious by so many people leaving the company. In the past year, a couple dozen of the top, best IT employees, have left to find better, higher paying jobs. All of them that I know and have spoken to, have found better places to work. One just didn't want to put up with the insulting conditions anymore and is not working at all.

    As the economy improves, the firm is going to be faced with a challenge of retaining the employees that it has. I only speak for the IT side of the firm. I have heard that things are better on the business side.

    My advice to anyone who seeks employment with us is to, if offered the job, ask for a high wage and hope that they give it. If they do, know that you are being paid to put up with the BS. If they don't, then just walk away. It isn't worth it.

    Advice to Management

    Show compassion. Don't be so obtuse. Learn what it is that the associates below you do. Fire the incompetent managers and supervisors. Show us that you care about us and about our work/ life balance.


  8. "ok"

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

    Pros

    scottrade is a stable company

    Cons

    there are no benefits for interns

    Advice to Management

    none