E*TRADE Financial Reviews

Updated 27 August 2014
Updated 27 August 2014
297 Reviews

2.8
297 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
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Paul T. Idzik
55 Ratings

Review Highlights

Pros
  • Etrade values work life balance and offers opportunities to advance in your career path (in 16 reviews)

  • The Series 7 and 63 training is free and useful in other jobs (in 13 reviews)


Cons
  • could improve in employee work life balance (in 8 reviews)

  • Call center work can eventually wear on an individual (in 14 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    • Proactively contact clients to determine the best method of allocating assets across multiple markets in order to achi

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Sales Consultant  in  Minneapolis, MN (US)
    Current Employee - Financial Sales Consultant in Minneapolis, MN (US)

    I have been working at E*TRADE Financial full-time for more than a year

    Pros

    The ability to assist client with meeting their goals,. My strength has always been in sales, and this environment allows me to utilize my extensive experience to perform under limited management supervision

    Cons

    I have been in the securities industry for 27 years, and the overall atmosphere has changed tremendously from one of trust and long standing relationship, to one of distrust and skepticism

    Advice to ManagementAdvice

    Work to repair the image of the ind

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2.  

    Etrade is transitioning from a stock brokerage firm to a discount full service broker.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Representative  in  Salt Lake City, UT (US)
    Current Employee - Financial Services Representative in Salt Lake City, UT (US)

    I have been working at E*TRADE Financial full-time for less than a year

    Pros

    Etrade values work life balance and offers opportunities to advance in your career path. The management team also supports their employees allowing them to pursue their professional goals.

    Cons

    Etrade is primarily a stock brokerage firm and is transitioning to a discount broker dealer firm with a full product line offering. Having worked at a competitor in this space Etrade needs to develop products that are competitive in both price and performance to be successful. The firm also needs to embrace retirement planning as an initiative to further develop client assets to diversify the firms revenue stream during turbulent market conditions.

    Advice to ManagementAdvice

    The internal systems at Etrade need to be reviewed and modified to be more inline with competitors software package for employees. If the firm is attempting to transition to a full service discount broker and intends to offer more than a platform to trade stock, information must be accessible in a more useful format for employees. Additionally, there are several contract groups that offer 3rd party services for Etrade that should be brought in house to ensure business continuity.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Don't get duped like I did....

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at E*TRADE Financial full-time

    Pros

    Great Health Benefits
    Employee Benefits
    Flexible Work Schedule

    Cons

    Micro Management
    Inexperienced Management/Employees
    Majority of the work staff have been employed since the start of their careers; therefore, they are not receptive to new ideas that are not conducive to what they are use to.
    Managers will minimize the skills that you bring to the table to make themselves look good in the eyes of upper management. In addition, they will steal your ideas as their own.
    High turnover rate

    Advice to ManagementAdvice

    Listen to your employees.
    Welcome ideas from individuals that may go against the grain.
    Invest in management training for all individuals who manage other employees.
    Don't be afraid to highlight employee's strengths.

    Doesn't Recommend
    No opinion of CEO
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  5. 2 people found this helpful  

    Etrade Software engineer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Staff Software Engineer  in  Menlo Park, CA (US)
    Current Employee - Senior Staff Software Engineer in Menlo Park, CA (US)

    I have been working at E*TRADE Financial full-time for less than a year

    Pros

    No free drinks, so can stay healthy!

    Cons

    They use ancient technology. The place is run by folks who have been there for 15 years, and have an interest in keeping it that way. And of course getting information from them is impossible. Not much work to do. The drama compensates for that. The architecture team is a talking shop. They take a year to complete a project that should take a month, Expect to be yelled at and told repeatedly that you have you no idea about technology. Dont expect much help from HR. Recently they have beenlots of employees who have been frame and fired. HR tells you that the manager can do anything they want, including yell and spitting at you. If you're seriously down on your luck, consider this a temporary stopover.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    Anonymous

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at E*TRADE Financial full-time for more than 3 years

    Pros

    The product they sell and service to clients itself is the best in our industry and the people you work with day to day. Pay is above average for now...

    Cons

    Senior Management, very little communication from mgmt & No work life balance. Mgmt doesn't have a clue what they are doing and keep trying to change thing to say they did something, but in the end makes it more difficult to do business at the day to day level for no reason. They are also trying to pay/bonus/comp money as well with adding more work. When I first joined the company it was MUCH better... now not a fun place to work anymore (since 2012)

    Advice to ManagementAdvice

    Value your people more and don't be cheap when it comes to existing clients. Please also ask your employees if a process will improve their work flow BEFORE implementing a complicated process. Think LONG TERM

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7. 3 people found this helpful  

    Software ruled by clueless NY business people

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Software Engineer  in  Menlo Park, CA (US)
    Current Employee - Senior Software Engineer in Menlo Park, CA (US)

    I have been working at E*TRADE Financial full-time for more than 5 years

    Pros

    If you find the right team, you will be working with nice people, some of whom have been there for years. It is a more laid-back environment, in most cases, and again, depending on the team. Changes in leadership means that some finally got to advance in title (the company has a relatively flat hierarchy, and rarely promoted from within to manager positions), and new technology is started to be explored and used.

    Cons

    In the past year and a half, there was a major layoff, in which most of the contractors, and some full timers (some who had been there for a decade) got laid off for the first time in years. Within a few months, departments were scrambling to rehire to fill those positions and new ones too. It could be argued that the company was trying to save money and get rid of poor performers, but in the end, we hired newbies who had to be retrained (the tech 'stack' is archaic, frustrating, and a time-suck to deal with) and the market got so hot it was extremely difficult to hire top performers who would accept the lower pay Etrade was offering. All of this resulted in some poor code/projects not up to the same level as before. On top of that, Etrade became very strict about physical time spent in the building. They were always obsessed with 'badging in/badging out', and we were periodically told to be in the office no later than 9:30 am (sometimes by 8, whenever a CEO was in town), but recently I felt like we were more closely monitored on this, to the point where people wouldn't leave the building for lunch, and would take less walks around the parking lot, and would even just sit in their cubes doing nothing until 5:30 came around, if they had finished their work for the day. For a tech company, this is odd...usually if you are lucky enough to finish for the day, you are free to go, and techies are known for their late starts in the morning and leaning towards a flexible schedule. And forget working from home, at all, unless your manager likes you, and is not scared of discussing your badge log with their superiors. If you like that sort of thing, don't join Etrade. The bottom line is that this is a financial institution, based and led by often clueless people in New York, who don't have an understanding of what makes the tech side of things great (which is a shame, because for the most part, Etrade is an online business, and is known for that). 4? CEOs have come and gone in the past 5 years, and the current leadership (Idzick) is as hard core NY as you can get...he was brought in by the board to get money for shareholders, and money and the short term is what he is focused on. For a year after he joined, he was unable to convey any sort of goal, long or short term, to us worker peons. In the interim, many long timers decided to leave after a decade of service (to apple, start ups...lost some good talent). My feeling is that they will continue to sell off portions of the business, and 'lean things down' until they can sell the trading platform. When that goes, so goes the company and whoever works for it. It may take years, and in the meantime, if you wish to put some financial coding experience on your resume, join. But don't make the mistake of staying too long.

    Advice to ManagementAdvice

    Learn what it takes to be a successful software company. Support your Tech people, give them the tools and environment it takes to succeed and attract the good talent in the Silicon Valley. Provide a better path toward career advancement and pay raises. Let people becomes leaders within the company. Stop fiddling around with monitoring badge logs, and focus on the bigger picture.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  8.  

    Once a great company, now reduced to mediocrity and support of the ever-declining status-quo

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Systems Engineering  in  Menlo Park, CA (US)
    Former Employee - Systems Engineering in Menlo Park, CA (US)

    I worked at E*TRADE Financial full-time for more than 5 years

    Pros

    Was a great opportunity to work on some bleeding edge technology products a few years back. Good if you like outsourced environments - there is a lot of use of outsourcing here so if you are into that type of environment, you could fit right in here.

    Cons

    Lots of outsourcing, most people are just there for the paycheck. The environment is often described as long-time employees as "toxic". Personal growth opportunities are now largely limited due to the outsourcing -- being promoted likely means more late-night calls with teleworkers and remote teams.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  9. 1 person found this helpful  

    Not recommended

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Menlo Park, CA (US)
    Former Employee - Anonymous Employee in Menlo Park, CA (US)

    I worked at E*TRADE Financial full-time for less than a year

    Pros

    No Pros as long as i worked there..

    Cons

    Heavy asian(indian) culture....too much micro management....
    vacation is not easily approved...no respect for staff members from managers...

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10.  

    Not bad, but limited opportunities for growth

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Principal Software Engineer  in  Alpharetta, GA (US)
    Current Employee - Principal Software Engineer in Alpharetta, GA (US)

    I have been working at E*TRADE Financial full-time for more than 3 years

    Pros

    Nice environment, but mostly because of a great direct manager.

    Cons

    Limited opportunities for career growth.

    Recommends
    Positive Outlook
    No opinion of CEO
  11. 1 person found this helpful  

    Principal

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at E*TRADE Financial for more than 3 years

    Pros

    The only positive is Etrade has nice and hardworking employees.

    Cons

    No career growth
    Old and outdated technologies
    Under staffed
    Stuck in the past

    Doesn't Recommend
    No opinion of CEO

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