The worst financial services company I ever worked for - Financial Representative Charles Schwab Employee Review

1.0
Jun 1, 2021
Recommend
CEO approval
Business Outlook

Pros

You will get a paycheck, and there are benefits. However, if you are a single parent with young children, and high medical bills , think twice. The Medical Plan is an HSA with a high deductible. Schwab did contribute $1,000 / year, but that is still way below the out-of-pocket max ( $5,000+ for family) . I personally saw several single moms struggle because of this. However, for a person who wants to reduce their taxable income, and can afford to max out the annual contributions, the HSA would be attractive.

Cons

Ever since the present CEO took over, salaries , and benefits, have been under constant attack year after year. Don't be fooled by a seemingly decent starting salary, and talk about a big bonus. You will quickly find that no matter how strong your performance is, your raises will be below par, and you never get the max bonus that was mentioned during the interview process. It is a classic "bait and switch strategy". The only way to truly get ahead is to keep getting promoted to higher paying positions. To get a true perspective, read the negative reviews, and avoid the one or two sentence positive reviews, they are planted by management, and the talent acquisition people. They truly know how to work the ratings system, and make this horrible company seem appealing. BEWARE!

Explore other reviews about Charles Schwab

5.0
Jun 18, 2026
Recommend
CEO approval
Business Outlook

Pros

Great firm, great people, would recommend

Cons

Some difficulty making decisions that drive your work

5.0
Jul 8, 2026
Recommend
CEO approval
Business Outlook

Pros

-I did not know anything about finance, just had sales experience to my name and an open mind to learning and they took me in and tought me so much. -Benefits are top tier, from the basics to some that you didn't know they even existed. -They give you 8 hours a quarter for personal development. -Good pay without even including bonus or language add ons. -You will learn a LOT -

Cons

-2 year role commitment -Very corporate so might not let be your true self in the job with peers.

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