- Promotion is nigh impossible without extensive politicking
I work within the tech side of Schwab. Promotions are practically impossible and you'll be fulfilling role duties way above your pay grade without ever seeing the promotion (not never, it'll just take 1-2+ years extra). This is the most commonplace story I've heard and why young people (and myself included) will not work here. Not only is it below industry standard, but myself and many others get "cases" made for us for promotion and they frequently get declined by upper management who never sees or interacts with us because there's no reason to. The most common advice here for a promotion? Mingle with more managers so they know who you are. This is not a place of merit, but a place of heirarchy. Expect to be overworked for your role and never see anything for it beyond a Starbucks gift card every quarter or so.
I know associate level engineers that have worked here for two years, can define plainly how their work is 1-2 levels above their role duties that Schwab has self-defined, and still got declined for promotions as they require more "exposure" AKA "We don't know you so we're passing you up for someone that rubbed our shoulders".