Pros
If you are just starting out its a good place to get your training. After that, you will want to leave within a year or two. Good benefits, but no profit sharing ... just matching. Adequate vacation time and sick day accrual, some managers are enlightened and helpful.
Cons
Schwab is not what it used to be. Results of recent employee surveys show that the majority of employees are unhappy with the direction the company is going in -- particularly its exodus from SF. 1) huge variances in job expectations from department to department, region to region and manager to manager. 2) constant changes in compensation -- mostly down. 3) high turnover in managers and other execs creates environment of fear, and constant pressure. You will become fatigued and burned out more quickly here than most other places I have worked. 4) no recognition of the value of employees as people; treated as tools or cattle to be prodded and poked 5) Schwab does not like outspoken people even if it is the truth so it's best to keep your mouth shut; 6) Failure to recognize the gifts and talents that all people have as human beings and thus a failure to grow and train people so that they blossom to full potential; instead, there is constant herding, demands and less flow of information. This creates a culture of fear where no one wants to do more than the minimum to get by. 7) extremely negative attitude in some departments because of the above which negatively impacts work; Schwab addresses this by firing those people and replacing them rather than trying to understand the root cause. 8) somewhat dysfunctional company like a family with an alcoholic father; everyone tip toes around while dad is on a binge and then covers up for him out of fear that he will beat the crap out of you. 9) absolutely no chance of advancement unless you are extremely lucky; 10) too much turnover at all levels and the resulting reorg; stressful to deal with so many changes. 11) overall stressful environment to work in which ultimately runs off talented people. 12) too much change; there's never enough time to adjust to a change before another one is upon you. 13) according to reps I know there are conflicts of interest; ethics are only of concern as far as the front door; 14) again, according to reps I know the product offerings are poor but even in downturn in the economy reps are under pressure to sell and produce revenue at the cost of what is in the best interest of the client.