Could do so much better - Senior Staff Charles Schwab Employee Review

2.0
Jan 27, 2009
Recommend
CEO approval
Business Outlook

Pros

Financial Benefits are ok on paper but you will work many long unpaid overtime hours bringing the average hourly rate way down Some opportunities for (self) development but you have to train yourself, Schwab won't bother

Cons

Most (not entirely all) management are only concerned with using / manipulating employees, primping their ego, advancing themselves at any cost. there is no attempt at true leadership or leading by example. Most are very average but ambitious, want to be in charge but that's the only thing they have, no real intelligence, or organizational, technical or people management skills. Very poor. Long hours expected as normal Finger-pointy culture when things go wrong many cliques - it's who you know You're only as good as the last project revolving door management Promotion prospects totally dismal They will hire incompetants off the street to tell you what to do, should the in-house incompentants be running out, rather than promote from within Offshoring was always a bad idea now they are realizing it's not cheap and it's not the way to get good work done It's a sweatshop

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5.0
Jul 5, 2026
Recommend
CEO approval
Business Outlook

Pros

Good culture, pay was good for what it was.

Cons

Micromanage and track everything you do

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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