I have to say this is one of the best places I have ever worked. I had a good team and management is very supportive. Each day I had time to perform my duties. I learned many new technologies and methodologies. The culture is very open and friendly. I was given a lot of opportunities to be able to grow my skills.
Great people to work with. Everyone is very collaborative and supportive. The company supported innovation and using the latest technology and there was relatively little red tape for implementing changes.
Benefits such as vacation policy and work from home flexibility could be better.
This is a great company, but the constant switch in focuses or objectives is almost impossible to keep up with. VPs are being switched out all the time and each new one strives to "shake things up". Schwab needs to focus more on the representative and less on the whims of their newest executive.
Worked hard to pass Series 7 and 63 and received training and encouragement from management. Salary increased after I passed the exam after which we got a title change and worked as such for about one year when the .com bubble occurred and the entire department was terminated in 15 minutes. Got severance pay for a couple of months and unemployment and signed a non disclosure agreement. I tried to get rehired but I wasn't and had to re certify at my next finance job. Every two years if there is a market downturn you get sacked.
salary increase and title change after passing S7 and S63. good healthcare
may get terminated quickly due to market downturn FIFO style.
I worked as a customer service representative for 8 years. It was all in who you knew if you were able to get promoted. I loved the friendships I made with many others during my time there. The management was a different story. I had 5 or 6 managers my last 2 years with the company. I left because i wanted to move up and had no support to do so.
Schwab is a great company for investors. Schwab, however, is going through growing pains and has lost a lot of its culture within...seems like all the managers care about are statistics...they have lost that "human touch" with employees. Great place to start, but you should move along to better opportunities and $$ after 5 years.
While the workload can be pretty hefty, at times, I always feel like management has my best interest at heart. Schedule accommodation can be very tough, during busy times, but there are incentives to be there for the clients. I think the pay could be a bit higher, and the insurance leaves something to be desired, the retirement and bonus structure is very nice. Great place to start, if you’re new to the securities industry, and needing your licenses.
I worked in the call center/customer service portion of the business. The company is very slow on getting their employees licensed. They promise you that it will be done within the first few months, but in reality it will take roughly six months to actually get started on your licensing. Schwab also refuses to let their employees give actual advice even if you're licensed by FINRA to do so. This is the place you come and get your licenses before heading off to greener pastures.
My coworkers were absolutely fantastic. I built long-lasting friendships there, but the management teams were young and inexperienced. Even the directors did not seem truly cut out for leadership, which is a real shame.
If you're looking for a customer service job, then this is a good place to look at. If you're serious about financial advising, market mechanics, trading, etc., then this will be a place to stop in but not stay long.
If you are a hard worker this is a great place to work. Culture is changing to a bit less friendly than when I was hired. However, the friendly culture is changing and more stiff and starchy than previously.
Schwab was one of the best companies I ever worked for. Schwab puts people first and is focused on delivering innovative solutions to its customers. The company has an excellent performance-based culture. You are surrounded by great people you can trust. I miss working for Schwab and would rejoin the company if the right role was available.
People development, focus on customers, great benefits including a sabbatical every three years
I'll sum it up in two words: financial industry. I have worked for a few other companies in this industry, as well as in healthcare, and in government many years ago. They share a lot of cultural features, i.e. tend to be very hierarchical, focused more on following process rather than strategic goals also due to the heavy regulated environment, and have a lot of employees with seniority, which often translates into an environment that is hostile to change and innovation.
Schwab in particular, has a cult-like culture, and is inflexible on remote work, which is quite ridiculous in this day and age.
I felt like a cog in a useless machine, it has been one of the most miserable professional experiences of my entire life, so I ran away as fast as I could.
If you like routine, stability, and getting paid a decent salary for doing what you're being told, then go ahead, you might like them.
Schwab does not care about their front line employees. They strive to have you preform like a robot and rarely reward you for your hard work. They dangle any promotion or compensation in your face and never go through with providing it.