Charles Schwab

  www.schwab.com
  www.schwab.com
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Charles Schwab

  • 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 an year)

Pros

Great culture and co workers. Ample vacation and sick time. Great benefits.

Cons

Pay is below average in the industry/

Recommends
Positive Outlook
Approves of CEO

895 Other Employee Reviews for Charles Schwab (View Most Recent)

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  1. 1 person found this helpful  

    All in all I was happy w/ my employment at Schwab. It could've been improved though--the firm has had too many changes.

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

    I worked at Charles Schwab full-time (more than 5 years)

    Pros

    Flexibility, 1 month paid sabbatical for every 5 years of service, work/life balance, clear infrastructure & easy navigation throughout different departments, positive corporate culture

    Cons

    Way too many changes to objectives and the comp plan for financial consultants, an HR department that doesn't have the back of employees but is strictly there to protect management, poor compensation for overall responsibilities, poor identity of branch talent, lack of diversity

    Recommends
    Negative Outlook
    Disapproves of CEO
  2. 1 person found this helpful  

    CS&S

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Registered Representative in Chicago, IL (US)
    Former Employee - Registered Representative in Chicago, IL (US)

    I worked at Charles Schwab full-time (more than 5 years)

    Pros

    The corp side of the company is fare to the point of pay and benefits.

    Cons

    They let unqualified managers manage their people. Instead of promoting within, they go out and get their managers from less than great company's like E*Trade. They would rather go outside so there are no conflicts from promoting with in. They are afraid that if you promote someone, that others around them at their previous level wouldn't respect them. So you have a bunch of qualified people already in house, but instead you go outside the company to find, excuse my language, idiots, that have no idea what they are doing. I would say this wasn't the norm, but in my five years there I never saw anyone in the branches promoted, not anyone! But I did see a high turnover of idiot managers they hired from the outside world.
    I left because I was sick or working for idiots that I can honestly say a trained monkey could do a better job. Not to mention, they hired a few Mormon managers from Utah and immediately good employees started getting fired and funniest thing, they were replacing them with Mormons. Now tell me corp should have at least caught onto that.

    Advice to ManagementAdvice

    Stop hiring from outside! You have a ton of talent at the bottom, they just can't get anywhere because you keep hiring in people above them for outside of Schwab. It doesn't take much smarts to know, that hiring in managers and managers that have worked their way up are totally different people. Fact, people that have worked their way up understand the company's values and how to do their job along with how to do the jobs of the people below them. Another Fact, people promoted up the chain stay with the company longer. Another Fact on that subject, company's that promote within and employee's actually see this happening get to keep all their trained employee's longer, but when you are some place for 5 years and see no one promoted, you know it is time to move on!

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
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