Charles Schwab reviews

3.7

66% would recommend to a friend

(7,812 total reviews)
avatar

Rick Wurster

72% approve of CEO

63% positive business outlook

Charles Schwab has an employee rating of 3.7 out of 5 stars, based on 7,812 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Charles Schwab employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

8K reviews
1.0
Jul 26, 2023

Run away now!

Recommend
CEO approval
Business Outlook

Pros

Benefits, great manager, and wonderful team

Cons

Very poor communication and contradicting information from Executive Council: 1. 6/15/2023 - no longer allow full time remote, back to office 3 days a week starting October 1st, stating some exceptions would be made. Exceptions form was a joke, a few options to select from, no open text option to state your case. I don't know of anyone's exception that got approved, even people 2+ hours away from an office had their exception declined! 2. 6/30/2023 - communication about several offices closing, others downsizing (those people can now WFH, but you had to stress them out for 2 weeks prior) 3. 7/18/2023- layoff communication 4 weeks of communications to stress out employees!! This causes emotional distress, low productivity, and a low sense of worth.

1.0
Jul 15, 2023
Recommend
CEO approval
Business Outlook

Pros

+ Schwab’s stock price (YTD) has fallen only slightly more than the employee satisfaction & workplace + Incredible “Career Building Opportunities”, or CBOs as leadership calls it, where you get to shadow another department within Schwab for a long stint, helping you grow the scope of your role, develop new skills, & support other departments all while being paid the same amount each paycheck that you were making before… as both your old Team Manager AND the Client Stats/Metrics needed to be put you up for a pay raise… sorry, “Career Progression”, are no longer part of your day-to-day workload… but hey, “off the phone time” + New updated PTO Scheduling process now has more blackout dates & exclusions than an airline flight voucher …no seriously, your direct manager has as much control over approving your schedule/pto weeks in advance as Spirit Airlines has when trying to rebook your canceled flight on the next Delta/United Airlines departure + Expensive tech investments in recording employee’s phone/screen devices now free up managers to spend a majority of their day…well, umm…I assume preparing for their 20min Team Daily Huddle? Hold on, let me ask them in the Microsoft Team’s chat and see if I get a response + Leadership giving all employees FREE hand sanitizer/wipes to help ease employee’s true worries and frustration about the random strict “Return-to-Office” policy that will replace the flexible hybrid-work schedule… that had originally replaced the COVID WFH policy over 1-2 years ago… + Time for study & obtaining FINRA Series 7/63 Licensing is provided by the firm which allow you the opportunity to now place trades for clients over the phone like a 1990’s stock broker from the movies selling pink sheets… as long as it is not OTC Expert Market + Corporate Amenities like FREE parking at the corporate office, and some locations even have snacks you can purchase via the vending machines provided by 3rd party vendors

Cons

- You HAVE to be off the phones for (2x) two 15min breaks over the course of the entire 8-10 hours that make up your work schedule due to some federal worker protection rights… or something, but hey, you ARE encouraged to use that THAT time for yourself… to get up and use the bathroom, or get some water… just be careful a client call doesn’t take you into that randomly assigned 15min scheduled break, otherwise you will be hurting your metrics as you are no longer adhering to your schedule. - The fat checks your friends assume you make from commissions on trades as a Stock Trader will be 100% less than ANY fast food employee taking a burger order at a counter that happens to set out a Tip Jar… since the “$25 Broker Assisted Fee” clients have to pay PER TRADE for using your services is NOT ACTUALLY paid to YOU (the Broker that had, well, done the assisting). …instead, you nervously navigate a never ending call volume full of a complex game of avoiding the minefield of Trade/Market Risk, Firm Risk, or Regulatory Risk that at best you never hear from the client again, or worse, end up in a client filing a trade dispute later on that can lead to a “Trade Error” that is attached to your professional license like a FINRA “scarlet letter” looming over your career here and at any other competitor.

1.0
Aug 19, 2020

Own your Tomorrow and Get out

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Pretty stable company with decent benefits. Overall, nice people work here

Cons

The company culture promotes privilege and an overall elitist mindset. I've worked in three different departments in my time here and have seen the same behaviors in each one. People tattle on each other, make up lies, and try to stab you in the back to promote themselves and steer people away from their incompetence. Many people are bad at their jobs but get promoted or receive opportunities they're not qualified for because they've been there for so long. The Executives pretend to care about their employees, but they don't. We were one of the last companies to go remote when COVID hit. They were actually mandating that people keep coming in when other companies mandated you stay home. Yes, the CEO actually sent a firm wide email telling all employees that we needed to come in because technology couldn't support us all working from home at the same time. They also instituted COVID pay for the first two months of the pandemic which entitled you to paid time off (that didn't count against vacation or sick time) if you tested positive for COVID or came in contact with someone who did. But they cut this right before the cases spiked and numerous employees got sick. Did they reinstate it? No. Why not? Because it was all for show, like everything they do at this company. Fake it til you make it is the Charles Schwab way.

Viewing 58 - 60 of 7,812 Reviews

Glassdoor has 8,642 Charles Schwab reviews submitted anonymously by Charles Schwab employees. Read employee reviews and ratings on Glassdoor to decide if Charles Schwab is right for you.