Pros
At the heart of Schwab always lies doing what is right for clients, employees and shareholders. I believe it's a company that truly cares to make a positive difference in people's lives. It's a company where professional growth opportunities exist, where work-life balance is recognized, and where you really feel it's committed to serving local communities. The people who work there make Schwab feel special. Collaboration is king and always looking for a better way to do things is embraced. It's a company always striving to do better for the public it serves and it's employees. In my long tenure with the company, even many contractors comment what a special place this is.
Cons
The challenges or downsides that Schwab faces are probably not unique to Schwab or other companies in the Financial Services sector. We are clearly scaling back and redeploying resources where they are critically needed. We are trimming expenses. We are tasked with learning to do more with less. In the face of reorganization, it sometimes takes time to understand the details of who is responsible for doing what. But once those things are clearly understood and the fat is trimmed, it usually turns out for the better in the long run. While our benefits package is attractive, it does feel like we are covering more or our health costs in recent years. While bonuses have been consistent and attractive to date, it's unclear what the outlook for them will be in the current economic environment. The anxiety overall about the economy is definitely being felt internally. However, management is very transparent about the challenges the company faces, and I believe it's overall appreciated by employees.