E*TRADE Financial Reviews

Updated 16 April, 2015
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Paul T. Idzik
16 Ratings

77 Employee Reviews

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  1. Financial services representative

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Services Representative in Alpharetta, GA (US)
    Former Employee - Financial Services Representative in Alpharetta, GA (US)

    I worked at E*TRADE Financial

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    Pros

    Benefits-dental, vision, medical. The trainers are great.

    Cons

    Scheduled breaks and lunch. Lunch is only 30 minutes everyday. Managers and team leaders are strict about you going to lunch on scheduled time even if you are on a call. They treat you like machines. During tax season you have to work mandatory overtime. Paid time off is hardly ever approved even if you have the days available. They are strict on your sales goal and exceeding your sales goal every week is the only way to move up in the company. Horrible company to work for and worst financial institution I have ever worked at.

    Advice to Management

    Stop monitoring our work, after call time. If we are on after call or work it's because we are helping your clients get their needs done.

  2. Full of promise...but really disappointed

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Analyst in Arlington, VA (US)
    Current Employee - Analyst in Arlington, VA (US)

    I have been working at E*TRADE Financial full-time (More than a year)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    - Work life balance
    - Some of the company events are fun, but in the end does not make up for the cons

    Cons

    - Culture, culture, culture. I cannot stress this one enough. Most of the current employees have been here for so long they are just pushing buttons at this point and do not know how to teach or mentor. I'm sure it used to be a good company, but the new hire turnover is extremely high.
    - Compensation. The company promises you you are being compensated above market, but that is simply not true. Once you talk to the current employees you will find out most are not happy with their pay and it is difficult to get raises. Bonuses are also "discretionary" and not promised.
    - Last note. DO NOT GET STUCK IN EITHER AUDIT OR INTEREST RATE RISK MANAGEMENT. You have been forewarned. The turnover is EXTREMELY high for these divisions for good reason. The people are very difficult to work with and the culture is of low moral because of the constant turnover.

    Advice to Management

    Top management needs to create a culture where it is enjoyable to work. Only works from the top down.

  3. Helpful (1)

    A company for last employment before you retire? Maybe

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

    I have been working at E*TRADE Financial

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    - Still using old technology such as Perl, so less demand on your skill upgrades
    - Slow to adopt new technology for in house development, so less demand on your skill upgrades
    - You are mostly not measured by your technical competence, so less demand on your skill upgrades

    Cons

    - Still using old technology such as Perl
    - Slow to adopt new technology for in house development
    - You are mostly not measured by your technical competence
    - WFH, work hours etc very much dependent on your report manager
    - Too many regulatory restrictions both federally and cooperationally

    Advice to Management

    Have an IT strategy or Have some transparency with your IT strategy

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  5. Helpful (1)

    HIGH Turnover!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Auditor in Arlington, VA (US)
    Former Employee - Senior Auditor in Arlington, VA (US)

    I worked at E*TRADE Financial full-time (Less than a year)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    Great staff that really try to help each other.

    Cons

    Poor compensation. Managers struggle to get stuff done with insufficient resources and blame staff for short comings...as a result, the smart people leave the not-so-smart to finish the job.

    Make sure to ask about the turnover during your interview and confirm the facts with HR before making your decision.

    Advice to Management

    Grow up!

  6. Helpful (2)

    Unfortunately I cannot recommend working for E*TRADE at this point in time.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Corporate Service Financial Consultant in Palo Alto, CA (US)
    Current Employee - Corporate Service Financial Consultant in Palo Alto, CA (US)

    I have been working at E*TRADE Financial full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    (1) E*TRADE Pro is a good application with a lot of usable functionality.

    (2) Equity Edge appears to be a good application. The reason why I say that is because I'm only familiar with the functionality not the reporting capabilities. Tax reporting is essential due to the nuances of stock plan compensation. Assuming that the reporting is there (and I think it is) then it is a good application with a lot of usable functionality.

    (3) The Mutual Fund All-Star List published on Etrade.com has a lot of good funds on it. There is a wide selection of classes, sectors, and geographies. Bottom-line, the funds on that list are good performers over time.

    Cons

    (1) The job description does not accurately depict the actual daily tasks and how those tasks are measured. The compensation is unnecessarily complex and can change mid-year which seems like a odd business to me.

    (2) Life at the retail branches is disconnected from the online experience. The facilities are dated based on 1970's layouts so an infusion of capital improvement needs to happen as soon as possible.

    (3) The managed account offerings (MIP & UMA) are substandard. One would expect ~7% average annual rate of returns but the actual is ~5%. My educated guess is because the funds used are A-shares not institutional class.

    Advice to Management

    Stop trying to be the next Amazon, Facebook, Schwab, Fidelity, etc. and just focus on being the best E*TRADE. Also, if you want to hire advisors with an existing book of business, then advertise it that way because otherwise it's misleading. I'm an optimist so I hope things turn around but unfortunately I cannot recommend working for E*TRADE at this point in time.

  7. Helpful (2)

    somebody kill me please

    • 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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    They pay you on time.
    They pay for your security license as well.
    Sigmund is the best trainer in the world.

    Cons

    very exhausting atmosphere...treated like machines rather than people once you get on the floor.

    Advice to Management

    Hire Joel Osteen as ceo...maybe it'll be nicer around there.

  8. Project Manager

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

    I have been working at E*TRADE Financial

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Easy to manage work life balance, which is generally difficult in Bay area companies. Freedom to express your view and implement the same.
    Top management keen to work with ground level employees

    Cons

    Management change has caused some anxiety among the employees. But off late that is settling down. I suppose it should change for good.

  9. FSR

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

    I have been working at E*TRADE Financial full-time (Less than a year)

    Doesn't Recommend
    No opinion of CEO
    Doesn't Recommend
    No opinion of CEO

    Pros

    Paid for Training that Translated Elsewhere

    Cons

    Micro Managed Environment (breaks, lunches, etc)

  10. Helpful (1)

    E*TRADE - Not awful, not great

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Team Lead in Sandy, UT (US)
    Former Employee - Team Lead in Sandy, UT (US)

    I worked at E*TRADE Financial full-time (More than 5 years)

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

    Pros

    Decent, reasonably professional work environment. OK place to start out and get licensed. The UT office is located in a nice area.

    Cons

    Low operational standards frequently result in customer dissatisfaction, and force representatives to be in a near constant state of apology and appeasement. I would never recommend this employer to a friend.

    Advice to Management

    For the love of all that's holy, invest in some technology. It is not OK for you to still be stuck in the 90's.

  11. Helpful (4)

    Not as cool and innovative as they seem on their commericials

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in New York, NY (US)
    Former Employee - Anonymous Employee in New York, NY (US)

    I worked at E*TRADE Financial full-time

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Decent pay and some perks with E*TRADE products

    Cons

    1. From the moment you start, you get a sense of how petulant and self-involved Sr Management is. Their leadership for the past several years has been a revolving door.
    2. If you expect to be properly trained, told what you responsibilities are, given a bigger picture or purpose for projects, or are looking for your manager to be interested in your growth and development, this is the wrong place for you.
    3. Your ideas/input don't matter, your manager is going to do whatever he/she thinks is best to please his/her superiors
    3. Above all, this is a fear culture. There were plenty of nice people, but they were stressed out all of the time because of their managers' demands and aggressive management style
    4. Work life balance is abysmal. In some groups you are expected to stay outside of normal working hours every day, regardless if you've finished all your work for the day simply for "appearances".

    Advice to Management

    Start creating a different culture from the top down. Employees are not engaged, are not treated well, and need to see a change in the attitude of their leaders.

E*TRADE Financial Photos

Office Building top three floors are E*Trade
Sandy Call Center

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