Charles Schwab
3.9 out of 5 stars.
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Charles Schwab Employee Reviews

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Great for clients, hard to succeed as a new rep

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Schwab is all about advocating for clients, which is a wonderful thing. That said, it is very difficult to succeed in the role as a new Financial Consultant. The only way to get paid is to have new assets come in or to convert a client in to managed money, appropriate or not.
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Integrity above all

This is a company where every employee is highly valued. The Chairman has set the example and is supported at every level. I loved working for the company and I truly miss the challenges, the opportunities, and the excitement.

Pros

The company has always cared about the welfare of employees lives inside and outside of work

Cons

HR has not always been actively
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Great place to work, lacking in pay

I enjoy working here, very inclusive and the internal mobility is nice. Everyone seems like they are there to help and the company culture is unlike anywhere else I've worked. Only lacking in pay..

Pros

Benefits, Good Management

Cons

Low Pay
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Productive workplace

Training was pretty in depth, we have a lot of tools to be able to help troubleshoot, and solve issues as they come up. I do wish though that the training was a little bit longer, but so far a great place to work at!
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Transparency

The office building here in lone tree, Colorado is great .The company lacks transparency. Things do get lost in translation. Sense of belonging is not quite thrrr
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Good pay and benefits

The pay is great and the company offer a quarterly and yearly bonus. Insurance is great! The company itself is kind of in a mess because of the merger with td Ameritrade. Rules are changing left and right. The client intake is high and it feels like we are never fully staffed. A lot of times the calls you get are because someone else I the company gave the client the wrong info so you soend 2x the amount of tiem and energy to get it fixed. Managers don’t seem to be informed which leads staff to me uninformed as well. Of course in this type of role it can be depressing because you’re always talking to ppl who are emotionally charged. So if your not having a great time in life coming to work can make it worse.
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The Triumph of Mediocrity

Always 6-12 months behind other broker dealer firms in innovation and always 6-12% below average pay of other broker dealersIf you value meritocracy then stay away; this company teaches and coaches to mediocrity.Having spent just under 10 years in client facing roles, I've seen the company transition from client focused excellence in every aspect of the day to day operations to now being just about numbers; less quality and more quantity. When I first started you would never hear a client complain about our service, in fact it was what clients raved about and why they left their other broker dealers to come to us. I get client's complaining about our service 3-5 times per day. It's disheartening and after my 10 year mark, I'm out. Leadership either hears you and doesn't care to make changes, or they just aren't listening at all.The tell sign that the culture has shifted is the average tenure. You will find that 80% of employees are either 8months or 20+ years. There is no reward for loyalty anymore. Best way to make more and move up is to move out. (And many of those 20+ year reps are ones who have left and come back). Set a low bar on yourself and play dumb - get by for a long time with no accountabilitySet a high bar on yourself and strive to advance - you will leave Schwab within 18months like most new hirers

Pros

90 days wfh per year, it's better than not having a job

Cons

everything I mentioned above
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good benefits but highly micromanaged

This review is based on working during the pandemic period in 2020 and 2021. Volumes were so high there would be a thousand calls on hold. so many irate customers because of the long hold times and being directed to the wrong dept. Also branches were closed upsetting customers even more. job was highly micromanaged and half of the employees would not meet expectations due to one of the categories not meeting goal. It was highly micromanaged which was a negative to me. However the benefits are good including the 401k. This particular customer service job was not for me especially during the pandemic. However overall Charles Schwab is a very good company.
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Culture of Excellence

Charles Schwab is the perfect place if you want to get your "foot in the door". To be successful you must apply yourself but they give you the tools a resourced to succeed. I had no background in finance AT ALL but I applied myself and was committed to learn the job. I am doing things I NEVER thought I had the capacity to do. I was nervous about accepting a position with Schwab but it's literally the BEST thing I've ever done!

Pros

New Horrizons

Cons

Evey Job has their cons but I haven't found one to complain about yet and I've been here for 2 years
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Depends on your department

Operations is not the place to work at Schwab. You’re overworked, undertrained and paid bare minimum. Plenty of other departments treat the schwabbies with the culture and respect this company is known for.

Pros

Stock discount

Cons

Insurance is expensive and only useful if you’re hospitalized
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Great benefits

It’s a great place to work. It’s important to know that you need to be in your department 2 years before you can change. That being said you can still grow within the department
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Didn’t feel prepared

I did not feel prepared at this job, the whole entire employment was rushed, especially training to get your licensing , I am very disappointed in how I felt extremely unprepared here for licensing and also unprepared to take a million calls a day and barely was trained on any of the information the clients call in about, a very horrible training program and overall stressful job, wouldn’t recommend
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Loses a lot of valuable employees

Too much favoritism between management and employees. Not appreciated for your work only when it benefits the company to make them look good.Very caddy!
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Great place to work, mostly

As with any large company, your team, its leadership and your direct supervisor make all the difference in your experience. Sr. Leaders in some departments can lack the vision and leadership competencies one would expect at that level. I experienced lack of cohesion in my department and a bit of a disconnect between my portfolio and my department’s goals. Also, pace of change is painfully slow. Can take forever to navigate certain systems. That being said, I had a great manager and team. We had a lot of fun and accomplished some great things. I met a bunch of incredibly talented people who continue to connect with me about opportunities outside the firm.

Pros

Compensation, flexible with remote/hybrid, relationship focused

Cons

Unclear on promotion pathways, limited diversity in leadership roles
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Rewarding but a grind

If you work hard enough and network you will be compensated appropriately. Starting base is quite low, but after some time and getting licenses, assuming good performance, opportunities to move to other departments for promotions come up frequently. As long as you demonstrate willingness to do more than what’s required of you, Schwab will be good to you and make sure you advance

Pros

Supportive environment, Good benefits and insurance. Discounts at great stores.

Cons

Short breaks and lunches, Call center environment until you advance far enough. Good managers are difficult to come by
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Really happy with my job

I actually can say I enjoy my job and feel appreciated. From day one you are told you will get the tolls and help to be successful and it really is true, they don't rush you and are patient with you to help you succeed. They are truly a company that values family balance and will work with you to accommodate situations. They offer different shifts as a 24hr company and compensate well for your position.
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Great Company with Great Leadership

My time at Schwab was full of more positive than negative. Even though I worked in a really challenging department. Leadership really does care about their employees and coaching and development are key - so be coachable.
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Micromanagement

Mgt is nothing but a bunch of check the box baby sitters. We work in sales and all the managers want to do is have meetings which take us away from productivity. Constant changes in compensation not for the good. Run far away from thus company!

Pros

Not applicable

Cons

Everything..
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Low Pay to be Extremely Knowledgeable

The pay doesn't match the work requirements. The pay needs to go up for reps to be motivated to do this work. $20-$21 is way too low. The amount of financial knowledge required is demanding, so please pay a rewarding salary!
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Horrible place to work

The trainer was horrible at training and we couldn't learn anything and it was too much information to learn in such a short period of time. The management will talk bad about you to others if you're always asking for help or questions. They fired me as soon as I walked out of the door one evening. Never will I ever work for them again.

Pros

nice clean work place

Cons

Management, co workers, and training
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Productive and fast-paced

Work can sometimes be stressful but I felt very supported and encouraged my management. There was a clear path for me to advanced. Overall I enjoyed my time at Schwab and would work there again.
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Overall rating

Based on 1,486 reviews

Ratings by category

3.9 out of 5 stars for Work/Life Balance
3.8 out of 5 stars for Salary/Benefits
3.5 out of 5 stars for Job Security/Advancement
3.5 out of 5 stars for Management
3.8 out of 5 stars for Culture
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