Charles Schwab Reviews

Updated 14 May 2021

To filter reviews, or .
3.9
76%
Recommend to a Friend
90%
Approve of CEO
Charles Schwab President and Chief Executive Officer Walt Bettinger II
Walt Bettinger II
1,741 Ratings
Pros
  • "Provides Good Work life balance(in 250 reviews)

  • "Good company good benefits good 401k(in 158 reviews)

  • Cons
  • "Seems to have ceiling, some managers have poor work life balance(in 56 reviews)

  • "Upper-management can be inaccessible at times(in 55 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.
    1. 4.0
      Current Employee

      Director

      16 Apr 2015 - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good work life balance, excellent departmental colleagues, good attitude to training and personal development and allowance for time to do so. Good people managers - managers are allowed the time to manage their team. Good salary package.

      Cons

      Tendency to put a gloss on things that is not a true representation of the facts.

      Continue reading
      Be the first to find this review helpful
    2. 4.0
      Current Employee, more than 5 years

      Great company on tech side, if you can avoid the management politics

      10 May 2021 - Software Engineer in Lone Tree, CO
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good pay, good benefits, paid sabbatical after 5 years, good work/life balance and generally laid back work culture on the tech side. Great campus, but is also offering expanded work from home post-COVID

      Cons

      Upper Management is bloated and often times ineffective, seemingly at odds with each other at times. Will go through layoffs fairly often, and they seem to always layoff some of the best team members when they do, while toxic ones linger or worse, climb the ladder. The company is also constantly waffling on how much development they want to be offshore, and often times the agile team structure breaks down due to missing support or a team that is simply too large.

      Continue reading
      Be the first to find this review helpful
    3. 4.0
      Current Employee, more than 5 years

      Great Culture - OK Pay

      13 May 2021 - Program Manager in Austin, TX
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great work culture. A lot of effort goes into helping people understand how you can contribute to corporate goals and client experience. Movement within the company can be a good way to advance.

      Cons

      Benefits have fallen behind and pay is not competitive in some markets. Some areas like Project Services may be good entry points but are not good for career advancement.

      Continue reading
      Be the first to find this review helpful
    4. 1.0
      Current Employee, more than 10 years

      Have an exit strategy

      12 May 2021 - Vice President, Financial Consultant 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good benefits. Due to company marketing, it is easy to get new clients.

      Cons

      Goals increase EVERY quarter. You will NEVER stop selling. It is a "bait n switch" where you tell clients how bad other firms are and how much they charge... then once they are at Schwab, you try to sell them on a Schwab service where they pay a fee. Now that the TD merger is complete - Management plans on laying off 1k people every quarter for the foreseeable future. Many of those that will be targeted will be older FC's that have sizeable practices. The goal from management is to "manage those FC's out" and then take their book (which Schwab owns) and divide it amongst the younger and newer FCs.

      Continue reading
      2 people found this review helpful
    5. 4.0
      Former Employee, more than 3 years

      Great place to start

      3 Feb 2021 - Branch Network 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      - Culture: if you’re sick you’re sick, there’s no need for you to worry about coverage (comparing to Jpm). If your relative passes away, the first words out of their mouths aren’t “When will you be back” but “I’m so sorry for your loss” (comparing to BofA). - decent pay (mediocre raises, so negotiating your starting pay is important). - decent benefits (the ability to invest in individual stocks or etfs/mutual funds outside your typical 401k but still part of your 401k (brokerage account) is not common and a huge plus, and to do so with Roth 401k or traditional 401k or a blend is even a bigger plus). - sabbatical (every five years you earn a month (4 weeks) of paid time off in addition to PTO, which is only ok. Gets slightly better the more years you work there. - Large company (billions in revenue) with a small company feel (you’re able to get exceptions if it makes business sense and actually chat with executive council). - Mentorships - Highly encouraging individuals to get more licenses, certifications like CFP, etc. - Work life balance is stellar for the financial industry.

      Cons

      - Little to no training which leads to another con: - Inconsistencies with their policies & procedures. You have reps who will state one thing when it’s another. You will also find yourself needing to rely on other reps to accomplish one piece of a much larger puzzle because of lack of training. And it’s not even you don’t know how. The company literally limits you to what you can do. There are amazing individuals that work within the organization, however its: 50% wtf, 30% ok, 10% great and 10% amazing and hope they never quit despite average pay. - Pay

      Continue reading
      1 person found this review helpful
    6. 4.0
      Current Employee, more than 8 years

      Overall very positive experience

      12 Mar 2021 - Senior Product Manager 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      -It's a great brand and the company operates with its clients' best interest in mind. Schwab has been a positive force for retail investors since its inception. There's a lot of pride involved with that, and low-level employees all the way up to Chuck himself really do care about doing what's right for clients. -Interesting projects to work on, depending on where you land -Most managers are very engaged and encouraging when it comes to career development -The vast majority of people at Schwab are extremely nice, down to earth, and helpful people -Competitive benefits, including 6 weeks parental leave for mothers and fathers -Since covid, there seems to be a very positive shift in the outlook for ongoing remote work opportunities

      Cons

      -Given the size of the firm and reluctance to take on risk, the company tends to move extremely slowly when it comes to enacting change. -Difficult to get anything done without executive buy-in and project funding -The company takes risk-aversion to another level, which makes it difficult to get things done -Working in silos tends to be the norm -In a zero-commission, zero interest rate environment, the company is extremely focused on expense management. Job security isn't what it once was. -Very focused on managing quarterly earnings. Expense freezes pre-covid were commonplace (hiring freezes, travel freezes, etc.) -The company is oftentimes penny-wise but pound-foolish

      Continue reading
      2 people found this review helpful
    7. 5.0
      Current Employee, more than 8 years

      Walk the walk

      8 Mar 2021 - Senior Scrum Master/Agile Coach in Raleigh, NC
      Recommend
      CEO Approval
      Business Outlook

      Pros

      1) Client first is more than a buzz phrase, we mean it . We live it. 2) Try to balance responsibility with innovation: conservatively on the cutting edge. 3) Openly inclusive and diverse - taking the time to understand difference in culture and point of view and using the strengths found in being inclusive.

      Cons

      1) Balancing agility with regulations and the conservative nature of a financial company, lead to some challenges in process. However the culture of the company encourages constant improvement and innovation, so there is always someone or some group working on making it better.

      Continue reading
      Be the first to find this review helpful
    8. 4.0
      Current Employee, more than 3 years

      Great company to work for but lacks innovation

      8 Mar 2021 - Correspondence Representative 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      If you do your job and meet your metrics, they take care of you. Plenty of opportunity to contribute and make a difference within team and center, but it’s up to you to find the opportunity. There is a lot of overtime and incentives so you can work as much as you want. I have worked for several different finance firms and Schwab is the only one that is actually diverse.

      Cons

      It’s so busy with no signs of stopping or relenting and it is incredibly draining work. Upper management is slow to adopt changes and slow to hire additional reps. Often times it feels like they are just putting a band aid on a problem instead of fixing it. Schwab as a whole is very slow to adopt new tech or implement changes, and the clients/reps feel the brunt of that. Slow to update ridiculously outdated procedures. It’s pretty hard to move from CS&S to another group. Some groups within CS&S know much more than others, and chat reps are expected to have much more knowledge and be more adept for similar pay. Other brokerage firms offer much better benefits.

      Continue reading
      Be the first to find this review helpful
    9. 4.0
      Current Employee, more than 5 years

      4 Stars

      3 May 2021 - Senior Compliance Analyst in Littleton, CO
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Coworkers are all nice people, even the PMs on the trade desk. Work/life balance is also good.

      Cons

      The generally "nice" attitude has its drawbacks. People are often unwilling to give criticism when its most important -- whether it's on a tech project, an entire team, an operational process, etc. This makes us too slow in adapting to the changing business environment. On that note, the software is really poor. Whether it's internally made or externally bought, none of the applications are good (I mean that). Internal efforts to modernize are heinously slow, and the IT department's philosophy appears stuck in the stone age when they come to business users with "solutions".

      Be the first to find this review helpful
    10. 4.0
      Current Employee

      Depends on Where You Land

      14 May 2021 - Project Manager 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Nice campus, work-life balance is great depending on role

      Cons

      Pay could be better, WFH pre-covid could’ve been better for tech

      Be the first to find this review helpful
    Viewing 1 - 10 of 3,117 Reviews

    Popular Careers with Charles Schwab Job Seekers

    Financial Consultant
    Learn About the Job
    JobsSalariesInterviews

    Work at Charles Schwab? Share Your Experiences

    Charles Schwab logo
    or