TD Ameritrade Employee Reviews about "benefit"

Pros

Good medical benefit and I mean medical benefits only. Flexible schedule.

Cons

Where do I start? First, don't be fooled by the reviews from Omaha because their city lacks employers so there just happy to have a job. This companies philosophy is seduce you with advancement opportunities, but you never get compensated much for advancing. HR forgets to tell you about that part. I started out as a Financial Rep Broker who was already licensed, which pays from 35K to 43K. I got promoted a few times to other positions within the company, but each time I was promoted I would receive a $1,500 increase, which is a joke. This companies annual increases are usually 1-2%, which adds to your frustration that you don't get paid anything. My last position I was offered was a PCS Broker, which is the highest paid broker at TD. They told me I would only get a penny increase, literally .01 cent. I asked them why I would be ignorant enough to except the position for a penny increase, when it required more responsibility and more phone calls than the average broker on my team? Managements justification to me was that my job title name would change. That I should consider myself honored to have this title without pay. I declined the job offer. Management preys on the fact that the job market isn't good. There are 3 routes you can go to advance at TD. The first route is service, and the highest position you can have is a PCS broker. This job pays around 45K plus quarterly bonuses, but they bonuses are a joke for the abuse you take on the phones. The second route is sales, and the highest position you can have is an Investment Consultant. IC's make around 50K plus bonuses, but most of the time you don't blow out your sales, so you're stuck with this salary. Also, if you miss your sales goals 2 quarter in a row they let you go. The third route is management. This job takes an act of god to get, because you have to be the biggest brown noser on the planet. Also, you have to be under educated to have this job, and enjoy playing solitaire. If you have in MBA or a law degree don't even bother applying for a management position. Managers at this company always fear people that are educated, because they worry you'll take their job some day. The culture at this company is horrible. Everyone that has worked at this company over a year ends up hating the company. They keep cutting back on quarterly bonuses, but they say there going to increase the compensation you make through sales goals. This is an outright lie. If you're intelligent enough to do the math you'll realize you're getting cheated out of more compensation. I received numerous Presidents Club awards at this company, and it's their highest honor they can give to a person. I say this because I don't want people to read this post, and say oh this guy probably wasn't a high performer, that's why he's frustrated about the pay. In my 4 years at TD my salary only increased 7k. Compared to friends of mine that joined a competing firm in the area, I saw their salary increase over 30K in 4 years. I resigned at TD, and immediately got a 25k increase with another employer. Don't waste your time with this company unless you lack a college degree, like being paid peanuts, like taking 80-120 inbound calls a day or enjoy being micromanaged to the point of insanity. This place is hell on Earth.

Pros

- The people (legacy from Ameritrade and TD Waterhouse) are very knowledgeable and know what they are doing. They actually WORK. - The bonus plan is decent. Or was. It's restructured now so new employees don't get as much benefit from it.

Cons

- Influx of Sr. Management from Merrill Lynch and other companies (mostly Merrill Lynch) made morale very low. In fact, COO and CIO left in the same week (one fired, one quit). - Outsourcing of key functions to countries where they do not understand your systems or even the point of the project you are working on causes failure to deploy. - Favoritism of who you know vs what you know, especially in promotions. - The MD office had so many people leave, they wouldn't re-hire in the MD office, insisted on other locations. - HR is keenly aware of all problems, but no changes are made - Jobs are given to outside applicants before the job is even posted internally for associates (see: Merrill Lynch "friends and family plan")

Pros

They place a great emphasis on what you can do and not as much on where you went to school. Paid study time to go through your initial licensing as well as additional paid time for studying outside of work if a promotion requires any additional licensing. Matching 401k, generous paid time off, profit sharing and from what I hear decent health insurance (I get insurance through my partner). They are inclusive and have a good set of values that are demonstrated through how they treat their employees.

Cons

We offer great benefits however I’d love to see us work towards more progressive benefits such as a better paternity leave benefit. As well we should offer a better transition back to work after maternity leave including part time return for women to help encourage increasing women in our industry.

Pros

Base pay of 40k/year plus 12k draw. (1,000.00 per month against your quarter bonus). Great place to work, concentration on advice, bringing in gross assets. Selling fee based advise, MF and ETF wrap portfolios. Expensive benefit package. No residuals, paid on quarter bonuses, every quarter start at zero, again! Rat in a wheel...all in all good place to work, up and coming company. Can make 85-100k/per year if you do good production.

Cons

no residuals, every quarter goes back to zero, comm paid like a share MF, upfront small commission on everything, no residuals...$400.00 upfront commission for a 100k advise portfolio...