Great benefits but that's about it. - Senior Technical Project Manager Charles Schwab Employee Review

2.0
Jun 11, 2008
Recommend
CEO approval
Business Outlook

Pros

They give provide great benefits to domestic partners. They allow you to work from home, and if you've been there long enough you will get 4 weeks paid vacation a year.

Cons

Their geographic strategy means they are no longer hiring in SF and if you work there your chances of being promoted or of making a lateral move are greatly diminished. They are also going to start offering relocation packages to 80% of the technology organization. They expect 90% of impacted employees to turn the relocation package down in which case they will be laid off. That means they are expecting 72% attrition in SF employees over the next 3 years and the people left behind are going to have to deal with the brain drain and the shock to the organization. You can imagine what that's doing to morale. Also their salary is below market level and they are considering doing away with the bonuses and sabbaticals. They have thinned out their staffing levels so everyone is exhausted with too much work and then required us all to go to "client loyalty" training.

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5.0
Jul 15, 2026
Recommend
CEO approval
Business Outlook

Pros

Great community, lots of fun events and work life balance

Cons

Is slow and feels like a retirement job

1.0
Jul 15, 2026
Recommend
CEO approval
Business Outlook

Pros

-Paycheck comes on time most weeks -8% 401k match is very competitive

Cons

-Raises our very low. The “exceeding expectations” raise has been around 3% for the last three years, which is under inflation. -AI is used as the primary way of grading performance, however the way that this AI grades is kept secret from us doing the work. You can have great feedback from client but if the AI scores you low, you will be written up/fired. - Client data entry and account operations have been outsourced to low-quality processors India. Every single day you will deal with issues because of how much sloppy work is being done. There is no follow up or problem-solving regarding these errors, they are just a fact of life at Schwab, and you need to double check pretty much everything being done here. -Most members of leadership, when sharing their personal story, will share that Schwab was their second choice. They call someone who has left Schwab and then come back a “schwabarang” and many members of leadership are Schwabarangs. This can easily be felt in the nature and character of the leadership where the focus is on KPI numbers and keeping costs as low as possible over any kind of improvement of operational effectiveness

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