Charles Schwab

  www.schwab.com
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Charles Schwab Reviews

Updated Jul 21, 2014
All Employees Current Employees Only

3.1 814 reviews

61% Approve of the CEO

Charles Schwab President and Chief Executive Officer Walt Bettinger II

Walt Bettinger II

(490 ratings)

54% of employees recommend this company to a friend

Review Highlights

Pros
  • It does allow for a good work/life balance which was very important to me(in 71 reviews)

  • good benefits especially Sabbath every five years(in 49 reviews)


Cons
  • Not much room for growth in Indy unless you want to stay in a call center(in 42 reviews)

  • There are very few woman and people of color in middle and senior management(in 23 reviews)

814 Employee Reviews
Relevance Date Rating
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    Would work there again

    Specialist (Former Employee)

    ProsClient and employee driven. Great place to work.

    ConsThey could pay more to the superstars.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Great environment, wonderful people

    Operations Associate (Current Employee) Orlando, FL (US)

    ProsPeople, culture, work/life balance, employee benefits

    ConsPay is not sky high, advancement to a different department usually requires out of state move because of the splitting of departments into different areas

    Advice to Senior ManagementPay your people, and keep doing what you are doing! It's great!

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Schwab is a good place to work

    Project Manager (Current Employee) San Francisco, CA (US)

    ProsThe people at Schwab are the most rewarding to work with. We are all very carefully hand selected after many interviews prior to being hired. The company has strong beliefs of growing their people and very open to movement and employees trying new departments or possible career changes. Pay is very decent, and benefits are good. I have been in this industry for a long time. This company is outstanding to their clients. Clients are number one. I completely believe in their products and services.

    ConsOver the last couple of years, communication from senior management has been limited. Although they are taking action this year to make changes it is very difficult for San Francisco employees to maintain motivation since many positions are being relocated out of California.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
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    Former Sr. Manager

    Senior Manager SPC (Former Employee) Denver, CO (US)

    ProsThe people, co-workers are very talented, and life balance.

    ConsCommunication to the feild, the bonus structure, and moving goals.

    Advice to Senior ManagementKeep communicating the vision, mission, and strategy to the field, and be fair with the bonus payout.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    This is a very good place to work

    SQA Analyst (Current Employee) San Francisco, CA (US)

    ProsWork culture is good, best commutable location, no global timezone supports needed

    ConsLittle outdated wrt technology. Restricted internet access and remote access for contractors are not offered at ease

    Yes, I would recommend this company to a friend

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    Satisfied

    Senior Relationship Specialist (Current Employee) Orlando, FL (US)

    ProsVarious opportunities throughout the organization as long you are willing to further your professional development and relocate. CS seems to be committed to work/life balance.

    ConsCurrently I am in operations and the atmosphere is collegial, meaning the employees are primarily young adults with very little investment or professional experience. Therefore the atmosphere lacks intellectual stimulation and will seem "boring" to a person who has dealt with executives and/or business owners.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Technical Support

    Technical Support Representative (Current Employee) Austin, TX (US)

    ProsSchwab treats their employees very well, providing many different opportunities to move with in the company. People are very nice and easy to mingle in between the different departments.

    ConsBecause so many employees love working for Schwab it does take a little time for movement with in the company. Due to advancement being slow paced it is easy to become comfortable and complacent.

    Advice to Senior ManagementContinue to provide opportunities for advancement for employees.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Great Company and Opportunities

    Client Reporting and Security Services (Current Employee) Orlando, FL (US)

    ProsValues, Schedules, Pay, Management, Friendly

    ConsIntimidating workload and first, but by remaining committed you will get the hang of it.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    4 people found this helpful  

    Overall an okay company, but I probably wont be here forever.

    Senior Manager (Current Employee) Denver, CO (US)

    ProsExcellent employee services. Seriously, the best I have ever seen. Free access to a Financial Consultant, discounts on trading fees, and a generous Employee Stock Purchase Plan. Honestly, the 401K isn’t bad either. Match up to 5%, good funds to select from, and a discounted managed portfolio for those that want it. Ok pay, ok salary increases (3% in 2014), ok profit sharing bonus.

    Large and stable company that you know is going to be around for the long haul.

    ConsFrankly, I have to agree with most of the other comments I am seeing on here. Schwab is a very conservative organization that is slow to change and improve. Seriously, I am still using Windows XP and Office 2003.

    I also agree with the comments regarding management. It appears to me that the people promoted to directors and VPs aren’t really the best candidates, but have been the ones that stayed around the longest. Most don’t appear to have any new fresh ideas of how to improve the “client experience.” They also aren’t very realistic on their expectations and timelines they set for the executives. I saw one comment about how managers shield the executives from what is really going on and I could not agree more. I will also add that the directors and VPs that really have fresh new ideas tend to get pushed out fairly quickly. I think a lot of the VPs and even the managing directors really set up some of the employees for failure.

    I also completely agree with the negative comments regarding the healthcare benefits. I was very frustrated with this change and it has caused me to look for employment elsewhere. I also completely agree with the feedback regarding the possible advancements.

    It definitely appears to me that Schwab has implemented several tactics meant to keep employees even those that might want to leave, which I think leads to some of the negative comments about the workforce. For example, Schwab doesn’t contribute to your 401K regularly it’s only once per year in February. Also, the bonus (really more of a profit sharing bonus) is only paid annually in March. The profit sharing bonus I get, but the 401K contributions really bother me.

    I would also like to highlight one of the most confusing elements at Schwab. I completely agree with the comments about Schwab being very client focused. Seriously, they will bend over backwards and even provide client experience gestures (money) to people that complain. However, the directors and VPs just don’t seem to even think about ways to improve the client experience in a practical sense. I could list 20 or so things that as a client just drive me nuts that Schwab could fix really easily, but they don’t.

    Advice to Senior ManagementThere is a significant difference between being busy and being productive. All of the directors and VPs I work with appear to be super busy all of the time, but never seem to get anything done.

    Also, be realistic about your expectations. Some of the town halls and other presentation I have attend make me think you really expect total loans to just take off by sending out spam emails…really? Is that really realistic?

    There is also a significant difference between leaders and managers. Just because someone appears to be really good at their job does not automatically qualify them for management.

    Lastly, there is so much more to the "client experience" than how you resolve complaints. Why not make the process just easier for the client from the get go? There are always going to be exceptions and things that just don't work right, but seriously, some of the smallest changes could really make a big improvement.

    No, I would not recommend this company to a friend

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    Financial Consultant

    Financial Consultant (Current Employee) New York, NY (US)

    ProsOpportunity to do well and succeed

    ConsThings out of your control. Clients take out money all the time and goes against sales

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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