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optionsXpress Reviews

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2.6
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optionsXpress President, CEO and Director David A. Fisher
David A. Fisher
14 Ratings

31 Employee Reviews

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  1. "Senior Accountant"

    StarStarStarStarStar
    Former Employee - Senior Accountant in Chicago, IL
    Former Employee - Senior Accountant in Chicago, IL

    I worked at optionsXpress (More than a year)

    Pros

    Was conducive to forward thinkers, very relaxed but efficient.

    Cons

    The Accounting Department has been moved to Denver


  2. "Abandoned its innovation leaders"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Product Management in Chicago, IL
    Former Employee - Product Management in Chicago, IL
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    Pros

    After being acquired by Schwab employee moral has recovered. It is a good company to work for if you like being part of a large enterprise. However, the growth startup feel was killed many years ago.

    Cons

    optionsXpress was the most innovative in the 2000's. Employees were traders encouraged to create new products and in the options world nobody created more innovative products than optionsXpress. However, the founding CEO David Kalt was replaced with a CFO David Fisher that did not have customers or employees in mind. David Kalt had big promotions, salary increases and bonuses that kept moral high, innovation and account acquisition followed. David Fisher on the other hand controlled costs and moral fell to the ground and the innovative talent left the company. Company went IPO at 1 billion and years later got acquired by Schwab for the same amount.

    Advice to Management

    Bring back innovative talent and listen to customers.

  3. "Need to live up to Schwab Brand"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Specialist in Chicago, IL
    Current Employee - Specialist in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at optionsXpress full-time (More than 3 years)

    Pros

    people are all good and trying hard

    Cons

    input not desired, company poorly run, fairly terrible executive leadership

    Advice to Management

    everyday should be trying to make the company better and more competitive, so far behind the competition , they can't even be an also ran


  4. "Innovative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Supervisor in Chicago, IL
    Former Employee - Customer Service Supervisor in Chicago, IL
    Recommends
    Neutral Outlook
    Disapproves of CEO

    Pros

    Solid benefits and used to have a very good bonus plan. Good culture of employees that know what to do to get the job done. Customer first attitude.

    Cons

    Not enough time to train. Lost the forward thinking and focused too much on reducing costs. Lack of accountability in certain departments.


  5. "Company needs to invest in good management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Approves of CEO

    I worked at optionsXpress full-time

    Pros

    Work from home, merger with Schwab was somewhat beneficial, location

    Cons

    Environment, managers, compensation, not allowed to independently think

    Advice to Management

    Provide training to middle management


  6. "It was ok for a first job"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at optionsXpress full-time (More than 3 years)

    Pros

    Good technology and product. The company spent time educating their clients and trying to make it a good environment for employees.

    Cons

    The pay was low and they did not hire top tier employees. Because of this the turnover was very high and it was hard always working with new people.

    Advice to Management

    Invest more money and time in your staff.


  7. "Worked for CFO for 2 years"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Director, Finance in Chicago, IL
    Former Employee - Director, Finance in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at optionsXpress full-time (More than a year)

    Pros

    Lots of smart people who enjoy doing their jobs. Pretty good culture. Relatively young employee base.

    Cons

    Lacks the uniqueness the business used to have. Future autonomy with Schwab at the helm is unclear.

  8. "Its bad and uprofessional company unrealistic expectations"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - QA Engineer in Chicago, IL
    Former Employee - QA Engineer in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at optionsXpress full-time (More than a year)

    Pros

    No Dress Code,Free Soft Drink and free lunch twice a month

    Cons

    Too much work pressure and no support from Management.Too Much Micro management,least appreciated for any good work,for any small mistake you would be warned,No work from Home,Manager wont allow work from home even if it is a ongoing medical need.

    Advice to Management

    Please start estimating the project correctly,hire more people,i feel its only 60% staffed and everyone is overloaded and stressed(managers are not overloaded)


  9. "It was pretty bad."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Account Executive in Salt Lake City, UT
    Former Employee - Account Executive in Salt Lake City, UT
    Doesn't Recommend
    Disapproves of CEO

    Pros

    No one cared what we did so we took off as much time as we needed. We went weeks without hearing from anyone so work days were extremely short (an hour or two).

    Cons

    NO one cared. No support. Had to threaten with lawyers to get paid. Poorly organized company. Horribly over-valued by Charles Schwab. Upper management sold Schwab a company (optionsXpress) that was extremely misrepresented. Schwab's stock price is in part a reflection on how poor of an investment optionsXpress was.


  10. Helpful (2)

    "Overall negative, though improving somewhat since the Schwab takeover."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Trading Specialist in Chicago, IL
    Current Employee - Trading Specialist in Chicago, IL
    Doesn't Recommend
    No opinion of CEO

    Pros

    Charles Schwab bought optionsXpress in September 2011. This has lead to the departure of some of the upper management from optionsXpress who have been replaced by Schwab employees. The old opitonsXpress upper management was very numbers focused and did not seem to care very much about the 'little people'. Have seen some positive changes in this area since the Schwab takeover. Time will tell how much it improves. Benefits also improved with Schwab.

    Cons

    Can be very micromanaged and nitpicked over minor things. For example if you're on the phone with customers, your calls will be randomly reviewed. That's fine. But if the call was good, you gave the person the correct information, etc....but God forbid you didn't thank them for calling, you get dinged on your call review score. It's like you clubbed a baby fur seal or something.

    Also have some silly grade school type 'rewards' if a customer just happens to say to someone that they were pleased with how you served them on the phone. The reward is supposed to be a motivator, but it's so silly and minor, it's insulting instead.

    Advice to Management

    Hire more people. They run a 'lean' machine - enough people to handle things on normal days, but if it goes nuts or if more than 1 or 2 people are out for the day it can get too busy. Stop trying to turn phone people into robots with you should say this or that when you answer the phone/end the call. It's stupid.


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