E*TRADE Financial Reviews

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

Pros – Benefits are decent. You get paid time and a half for overtime because everyone except managers are hourly. It's a good place to get licensed and start out, but not a good place for a career.

Cons – Wow, where do I start? Very hard to get time off. Micromangement at its finest. Pay is not great for the industry. There is not much upward movement--only lateral movement. They say there are tons of ways you can go but there's not, just different teams within customer service and a call center.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

I have been working at E*TRADE Financial full-time for more than 7 years

Pros – Physical location is close to the freeway. The doors are open when you get to work. Most of the managers could fog up a mirror.

Cons – In four years time, my hourly pay has increased about 7%. My health insurance costs for identical coverage has increased by over 36%! I actually take home less now than when I started because Etrade now takes so much more out of my check for health insurance. At the same time the fomer CEO Steve Frieburg saw his base pay go form 1 million to over 3 million the second year. The managers were all managers with companies that Etrade bougtht before the collaterized mortgage fiasco. Only 1 manager is actually a manager due to a promotion . 4 of our managers, including a top level executive, came to Etrade from Fidelity because they got laid off at Fidelity. Etrade was NOT their first choice for employment and it shows. Management FORBIDS any direct communication with the CEO. It is MANDATORY that ALL employee to CEO communicaiton be perused by immedate management first. Etrade stock has never been valued at more that 1/2 of what TD Ameritrade trades for. After working at Etrade it is easy to see why. This company could spoil an erotic dream!

Advice to Senior Management – Tread your employees like the valuable resources they are. Do not assume that a 75% turnover rate every four years is normal! Train your managers to motivate and not terrorize!

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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

Pros – Interesting work and manageable hours

Cons – Flexible work arrangements are not available. Very odd for such a new company with their store front on the web! Face time is everything. Working Mothers beware!

401k match is very low compared to any other companies I have worked for. The company tries to save costs by outsourcing functions to India and constantly looks for more jobs to export. They’re very proud of the success of this which is sad because we should keep as many positions in the US as possible. I’m embarrassed by this practice. Very little opportunity for growth and they actually demote people – who does that? Some managers have constant turn over and instead of fixing the problem they continue to just hire new staff.

Advice to Senior Management – Many of those have been with the company over 10 years which is a HUGE issue. Very much an old boys club attitude since they have been here so long. It would be better to get some fresh talent with innovative ideas who put employees first instead of the bottom line. Let each group decide how they should be structured and their workload instead of micro managing everything – manage the big picture!

No, I would not recommend this company to a friend

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

Pros – Can't think of any... Good location.

Cons – Ineffective leadership from Senior level down to the sales manager. This company has no sales leadership from what I can see. My experience was the managers I interacted with were constantly in CYA mode. No one inspires anyone here with few exceptions. Sales meetings are a combination of information dump and beat downs. Training is 'one and done'. Individual goals do not match overall corporate messaging and direction. My manager regularly sent chastising e-mails - singling one employee out to the entire team. My sales manager would single out people in ALL CAPS TO EVERYONE. Hellooo.. HR, are you reading this

Advice to Senior Management – Hire sales leaders versus sales managers. Inspire your teams to greatness - not beat downs. Stop telling your teams 'what'; start showing them 'how'. (I suspect that most sales managers are clueless about the how component). Have your sales managers share a good idea to help Consultants succeed. This place is mostly void of solid talent.

No, I would not recommend this company to a friend

I have been working at E*TRADE Financial full-time

Pros – The product spectrum is expanding, and as consultants, we have quite a bit of flexibilty and control over what we present to clients and how. Some of the folks on the sales distribution team are great and really focus their resources on helping FC's succeed.

Cons – - The comp plan changes frequently. The newest change makes it difficult to gauge how your bonus is progressing throughout the quarter if you have clients who are active traders (despite the fact that all that trading actually makes E*TRADE money).
- While it's nice that you're given a book of business to start with, it's extremely difficult to remove clients from your book who don't belong there. You may end up with people who have no contact info, who have no desire to speak with you, or who don't live locally (if you're in a branch),.
- Some branch managers seem great to work with, others can be micro-managers or number crunchers who aren't very helpful in their role to foster sales growth. Some branches work well together, others may have FC's who rarely interact with one another.
- If you don't have an operations person in your branch, then be prepared to waste some time here and there on service issues or paperwork.
- Some of the leads we get are complete garbage, yet you're still hounded by management if you don't properly attempt them several times and prove that you've exhausted all avenues to uncover business. I'd rather focus on actual opportunities than satisfy some arbitrary requirement.

No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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

Pros – The best reasons to work for E*TRADE for me are benefits the compensation could be better. I feel the medical and dental insurances are superior. There are also other benefits such as 5% 401k matching and tuition reimbursement

Cons – The downside is the micro management on the lower service teams. It is more of a political game when it comes to promotion. Several individuals come to this company with years of experience and I feel they are belittled to fit the call center mode.

Advice to Senior Management – Really show your appreciation through the bonuses.

Yes, I would recommend this company to a friend

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

Pros – Good team and there's a ton of knowledge to be learned.

Cons – Non-traditional hours, work/life balance can be difficult, work may become repetitive and dull

Yes, I would recommend this company to a friend

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

Pros – *During my time, benefits such as health insurance, vision, and dental were good.
*Ability to learn markets

Cons – *If you begin on the telephone, difficult to transition to a different sector of company
*Raises non existent during my time there.
*Salaries weren't the greatest

I have been working at E*TRADE Financial full-time for more than 7 years

Pros – Good Company, nice place to work

Cons – Nothing as of now to say

Yes, I would recommend this company to a friend

I worked at E*TRADE Financial full-time for more than 7 years

Pros – Flexible place to work at...

Cons – they take advantage of people and make them work hard but don't pay them the money worth their job

Advice to Senior Management – No comments

No, I would not recommend this company to a friend