There are newer employer reviews for Charles Schwab
There are newer employer reviews for Charles Schwab

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Stable company with good benefits and a positive culture.

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

I have been working at Charles Schwab full-time (More than 10 years)

Recommends
Neutral Outlook
Approves of CEO
Recommends
Neutral Outlook
Approves of CEO

Pros

The client service culture is strong and the employees are treated well. The benefits are generally good and I have found it not to be a very stressful place to work. The company is stable and has weathered harsh markets where other companies had layoffs or worse.

Cons

Like any job, a lot of these reviews are really directed towards someones direct manager. You can have a bad manager at any job. Culturally overall, Schwab does value their employees. The pay probably isn't the highest, especially for entry level jobs. If you are not motivated and aggressive with advancement, promotion opportunities can be slow.

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  1. Helpful (6)

    Vice President-Financial Consultant

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President, Financial Consultant in San Jose, CA (US)
    Current Employee - Vice President, Financial Consultant in San Jose, CA (US)

    I have been working at Charles Schwab full-time (More than 10 years)

    Neutral Outlook
    Neutral Outlook

    Pros

    Ethical financial guidance;
    Reasonable/affordable product pricing;
    Transparency of fees;
    Great brand name;
    Work/life balance;
    Supportive and collaborative work environment;
    Diverse employee base;
    Embracement of new technologies;
    Good benefits;
    Time to volunteer of 8 hours per year;

    Cons

    Few career advancement opportunities or options except growing own practice;
    Employee base is diverse, but management is not;
    Overly cumbersome paperwork and procedures, especially on advice products;
    Frequent changes in executive level leadership result in inconsistent policies;
    Opinions of top producers count, but not the others;
    Favoritism hurts morale;
    Quarterly resets burn out even the best calibers;
    Termination after 2-4 quarters of bottom 20% sales: Financial Consultants are treated like disposables within the company while trying to convince clients they are experienced and trusted advisors and will be there for clients for a long time;

    Advice to Management

    If you would like clients to believe they are dealing with a trusted advisory service provider firm, you need to respect and empower your front-line Financial Consultants, especially those with 10+ years of experiences, and allow for bottom-up feedback and participation instead of only top-down dumping of compensation/advice/product policy changes, campaigns and quotas.

  2. Schwab can be a hard place to work, but also rewarding.

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

    I worked at Charles Schwab full-time (More than 10 years)

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    1. SCHW is a values-driven company offering a diverse set of products to consumers who are interested in investing. 2. Diversity is valued. 3. Schwab is a collaborative company (almost overly so). 4. There is an excellent job posting system that allows you to apply for internal positions as long as you have been in your present position for 1 year or more.

    Cons

    It can be a stressful environment. IT frequently has to meet target delivery dates which have been publicly announced by executives without sufficient analysis as to feasibility. Schwab also tries to save money by stating a strategy of purchasing application systems externally, with the intention of deploying the product with "off the shelf" functionality, e.g. minimal customization. What happens is once the product is brought in-house the business sees its limitations and the "off the shelf" agreement fails, and the pressure is on to deliver the required modifications as close to the original target date as possible.

    Advice to Management

    Please try to avoid making public delivery commitments without checking in regarding the feasibility.

There are newer employer reviews for Charles Schwab
There are newer employer reviews for Charles Schwab

See Most Recent

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