customer service representative

financial representative

client representative

software engineer

vice president of finance

Charles Schwab

What is the best part of working at the company?
TD Ameritrade, now Charles Schwab, is an excellent work environment.  Everyone is truly passionate about their jobs and no role is too small.  Upper management even looks to front line associates to report problems with systems or processes and provides an outlet to submit, work, and solve problems to improve efficiency.  Management is extremely well-trained and they will support you 100%.  They have regular coachings that aren't just checking boxes. They actually get paid more based on promotions so it's in their interest to get you to the next level.  Learning and development is top notch and ever evolving.  Time Management is easy to navigate and request days off.  The company has a number of organizations that are available to join where you can learn, network, collaborate and meet people outside of your own department.  There are always additional opportunities to get your name out there if you want to.   There are also times of year where there is unlimited overtime.  I worked here for 5 years and it was the best 5 years of my life.  I would have stayed forever and should have, but I got to the top of my department, was being looked at to manage.  I got a job managing a team for over a year, but it was temporary. When I went back to my old team it was under new management and new team members.  
The new manager was not happy that I was being "forced" upon him and took it up with me personally.  I've had a 15 year career in the service and financial industries and I have never had a manager that was so callous and petty.  A barrage of constant negativity, blocked me from moving, blocked me from promotions, blocked me from projects and micro-managed/criticized my every move.  I want to be clear, this was not a problem with the company and it was a one off situation.  I don't know how this person managed to not be let go as I was the third person to go to HR about him. Somehow he was protected and I was forced to resign or get fired eventually.  My only criticism of the company is that they moved to protect the manager and to ensure no other issues/fallout, but did nothing to stop the harassment against me and took his side, despite a mountain of evidence I had that proved he was applying the rules unfairly against me as retaliation.  

I have missed working at TDA ever since leaving.  Even though it's Schwab now I still know a ton of people who work there and I see a lot of their daily activities via social networking. I can tell you that it is still the MOST uplifting,motivational, passionate work you'll ever do.  The people there are amazing and they will see your potential even if you don't and then pull it out of you. I went from a shy nerd with low self-esteem, to the most successful representative on all of my teams, a leader on multiple committees, and got into an extremely selective Leadership Training as well as a selective Temp. Manager Position.  I owe all of my skills and growth to this company and despite the one bad apple I worked under, every person produced from TD is top notch professional and deeply passionate about their clients.

What is the most stressful part about working at the company?
When you first start you may take up to 50-60 calls daily during the busy season.  Also, there are some sale referral components and while it's a bonus option, it reflects poorly if you submit leads that don't lead anywhere.  You really have to submit quality leads in order to get recognition and good bonuses.  Once you're promoted to higher level teams, the call volume drops off significantly, the more specialized you get.  They offer 24/7 service so you can work overnights or weekends or weekend overnights;  you'll get more pay plus you'll learn more quicker.  Also, during the off hours the phones are slower.  That's my biggest advice.

What is the work environment and culture like at the company?
Positive, friendly, supportive, motivating,competitive (in a fun way).  The atmosphere is as relaxed as it can be, people are professional, but know how to cut up and be funny at times and it's acceptable.  The company provides goodies or throws parties once or twice a month to say thank you.  You will feel appreciated here, I promise that.

What is a typical day like for you at the company?
honestly it's very busy.  Back-to-back phone calls and deadlines.  There are a few reprieves in the form of team meetings,coaching sessions, or committee meetings if you join any.  They will bring around a snack cart when it gets really slammed.  They dress up and try to make it fun.  There is a lot of support so if you don't know the answer on a call there is always someone willing to help.  You will not feel all alone, but you will be exhausted at the end of the day (mentally).

Schwab has changed quite a bit over the last few years, moving away from the things they tout in their pitch to potential employees as "total rewards" they previously used to offset their lower than average pay for the registered broker role. 

Gone are Chairman's Club, gone are decent medical benefits, gone are decent bonuses. Gone is time away from the phones. 

Everything has been replaced with incremental performance rewards, lateral moves touted as "promotions", and junk add-ons (think prepaid legal, HSA plans, and supplementary insurance plans, discounted grubhub, etc)

The role is now exclusively "answer the phones". Your worth to the firm is your metric. 

There is very little in the way of advancement opportunities outside of 1)become a manager, 2)go to the branch, or 3) lateral move into another phone based client service role. 

The lag at Schwab in taking a proactive approach to technology upgrades and contingency planning has led to a mess during the pandemic, including many high profile outages due to phone and website failures, and a training dept. that was not prepared to onboard/ train remotely. This has led to higher call volumes, less people adept at taking the calls, and strain on the network. All the stress of this has led to higher turnover, which has led to Schwab hiring people who are outside of finance and are only taking the role because Schwab is one of few employers hiring. These people then leave as soon as they get a new role in their desired field, and the process starts over again.

Schwab has also begun informing professionals to expect some layoffs in the near future due to recent USAA and TD Ameritrade mergers, so there is that also hanging over your head. 

Line level management is hit or miss, with the majority of front line client service management spending their time in meetings. Expect to have to defend your numbers, even if you are successful, if they fall out of alignment, even if for a short time frame. 

Your manager will make or break your time at Schwab (and keep in mind, many of them are also on the career "path" and you may have 3-4 different managers over a 12 month period).

All in all, Schwab as a company used to be amazing, a place that I would regularly and frequently suggest to friend and family as a great company to make a career. 

The role used to be one where you were trained and encouraged to be a resource for clients in need of financial education and guidance, where you were rewarded for your assist clients. You were given the tools and time to become an expert in the role. 

Now, your only worth to the firm is how fast you can answer the phone, how quickly you can get the client off the phone, and how fast you can get to the next call, all while threading an adherence needle you have no control over (dont let a client keep you on the phone when your pre-defined break time starts, or you will get penalized on your metrics...)

Don't be fooled: This is a call center job with a licensing component. 

In the old days, you would read reviews on here that would say "Get your licensed and go elsewhere" because Schwab would let you take a month and study for your licenses. Anymore, those training classes get pushed back, canceled, altered, etc., making it even more difficult to pass your exams.

So in closing, if you are a call center rep who wants a higher pay, Schwab is your spot. They will put you on a condition of employment that says you MUST pass your licensing exams, and if you do so, you will be rewarded with a decent pay (for a call center) and some licenses.  

Just know that your role will be answering the phone for 40 hours a week, for the entire time you work there. Full stop. 

Expect to manage internal issues continuously, grow your business and continually deal with less support. It becomes a hamster wheel that as you stay longer, spins faster and faster. Your clients will lay their whole trust in you the entire time and management will continually test you to not put their best interest first and sales metrics before everything. If it wasn't for the relationships I made with the clients and the burning desire to protect them from the firm, I would have left a while ago. 

There needs to be a heavy internal audit within middle level management to really establish whether they are cut from the old age - "sell at all costs" and if they are of that mentality replace them with coaches that are truly focused with putting the client first and generational wealth planning. Not once (and I have been through 5 managers now) have I been coached on wealth management process but continually asked - "what is going to close more deals", "How are you going to scale your business to make the firm more money." The right coaching would be - "lets talk about how to manage the estate planning process with your client and effectively work with attorneys." OR "Lets talk about a clients tax return, how to look for areas to add value and whether or not municipal bonds may be a fit for a client." 

The belly of the workforce (5-10 years of service) is leaving in droves and this is going to greatly affect the client experience. 

Pros: 
You are afforded the opportunity to work with large clients whether you are truly ready or equipped to handle them. The clients will become the best part of the job. Great place to learn and get paid training. 

Cons: 
- Lack of internal support from partners and managers. Everyones work load is too high. 

- Becomes a political game and not a game of skill. Even if you are successful there will be additional reasons of why you need to do more or why you are not equipped to be promoted. 

- It becomes apparent this is a place to come learn but not a place you can build out a career as a financial consultant.

- Micromanagement and lack of empathy or care to employees you are looked at as replaceable. Turnover in many branches is sitting at 40-60% over a 2 year timeframe. 

- Lack of work life balance. I am not sure how someone can start a career here and have a family at the same time due to the unrealistic work load and lack of support.

- Turnover at all levels will cause you to train your fellow coworkers and will limit your own personal progression growth

- Middle level management will hurt your career potentially if you leave. I watched three FCs all within a short time period of each other. Middle level management placed a disclosure on each of their U4 that was a generic disclosure. The statement made could have been made by any Financial Consultant currently at Schwab, but management wanted to hurt their career on the way out because they moved on to greener pastures. 

- HR is obsolete - you have to email a inbox get a response and if you ask the same question you will get several different responses 

- It used to be that the firm cared about the client but unfortunately on all the regional calls I have been on, pushing of Sales targets at all costs has become apparent and it has become apparent to squeeze more margins out of the services we offer. 

- Payouts have decreased 18% year over year. If you like continuous pay cuts in a rising inflation environment this is the place you will want to be. 

There is no consistency in management. If you have a bad manager, you might as well quit now, because you'll have a hard time getting out of the position you are currently in. Schwab freely admits that their compensation is below the market. Their benefits are awesome, and that is about the best thing I can say about them. Promotions are pooled, so there may only be one or two available to a group of 50 employees or so. If you don't get the promotion, about the only pay increase they will give you is the 2% COLA.

Bonuses are pooled as well, and it is up to each manager to fight for a larger slice of the pie for their employees. Again, if you have a bad manager, your bonus will be next to nothing. And your manager will tell you there was nothing they could do about it. If you happen to do well, and earn the Key Contributor award, then you'll get a bonus - stock options and restricted stock - that it takes YEARS to actually get. Gee, you did a great job. Now you have to stay another three years to get what you've earned.

As a "Relationship Specialist," you are put in a training class that teaches you little more than there is an exception to everything, and every team does the same procedure differently. You're supposed to go above and beyond to service the client (advisor) but inevitably the answer is no, we can't do that. Once training is complete, the expectation is that you've learned all you need to know to do your job. Not by a long shot.

Policy is vague, and in some cases not even written. Most departments have their internal "guidelines" that have to be followed, and there is nothing that can be shared to explain why. They don't want to box themselves into a corner and state that they can't do something because it's a policy violation, but there are so many loopholes and interpretations of that policy that it amounts to a free-for-all.

The employee pool is pretty diverse, but they have a habit of hiring people that have no idea about the financial services industry. While that is not bad by itself, because everyone has to start somewhere, they make no effort to teach you about the business. It's only the Schwab way, and that doesn't even come close to teaching you what you need to know.

The more assets an advisor has at Schwab, the more exceptions are available. There are managers that will make an exception to policy on almost everything for certain advisors, regardless of whether it is the right thing to do.

God forbid you have to explain a form to an advisor. Explaining how to complete a W9 is considered tax advice, and you're supposed to pass them off to their CPA. Your hands are tied so much that it becomes impossible to do your job well, much less effectively.

They want you to be a relationship manager. The problem with that is that they make the advisors take no accountability for the forms they submit, the procedures they have to follow, the knowledge threshhold that they should have met to even be an advisor, so your job becomes that of paper pusher. Fix this, process that. You can't help an advisor with their business needs because you're too busy doing the work they should be doing.

If you want to be a Licensed Phone Monkey this is your place.


Here's how to be successful: 

Take it fro me, I was a walking Human Resources time bomb and I never got written up even once. I just put my head down and crushed the phone calls...This is a miracle; because "rules" are the name of the game here--not being "productive". 

If you are a hard worker and a producer this will be a temporary job, not a career for you. 

Grab your licenses---then leave and go build a career.

This is a place where following written and unwritten rules is what works--not production. I out produced the entire call center by 50-500% for years and I always had a target on my back instead of being rewarded.  You would think they would pay me more or ask me what I was doing differently? Nope, my manager loved me because I cleared entire phone queues, but they just basically ignored me. 

I took about 1100 calls per month more than the #2 guy and he took about 500 calls per month more than the #3. The rest of the pack did about 20-45 calls per day. They call in sick every other week due to "stress". I did about 100-160 more for the same pay. This is truly Pareto's 80/20 principle in action. 

This place is like walking on egg shells. This is a very litigious environment where the fear of lawsuits is what trumps production. These people basically angle toward getting leverage on HR and milk being a "protected" class. They look for things like "hostile work environment", various forms of "harassment" etc...etc...Just work and don't get involved. 

A typical day:

Put on a headset, log into your phone and computer, pray someone doesn't randomly "take offense" to your compliments, comments or opinions. Then listen to idiots talk about "fantasy football" or UFC(rather than playing it) or women gossip about Reality TV (rather than living their own lives).

Now field about 30-100 different customer service and or trade calls.
You are micromanaged to the point where you actually have to push a special "aux" code to let your manager know that you're going to the restroom. Yes, you have to basically get permission to get up from your desk. They record every call, which is actually good if you're great at what you do. Mess up and they will pull the call and listen to it--say it's a "coaching opportunity" and write you up, or fire you.


Good news: You have no clients, so you do not take the worries about your book of business home with you at night. It's a job, not a career. Make your steady paycheck, get your licenses, build your resume' and move on...

Side note: I had to get "permission" from compliance to work a part time job on the weekends. Yes, in this industry you actually have to get permission for what you do on your off time. This permission never came and 6 months later my manager said "okay take the part-time job but don't tell anyone" 

This place is like the Bizarro world of Capitalism.?!?

I started at Schwab when the pandemic was just starting, so my work experience has been entirely from home.

Schwab was quick to transition most of its employees to a remote environment due to the pandemic, all while ensuring the employees had the proper equipment to work comfortably and efficiently. They provided us multiple monitors, company-issued laptops, and other necessary accessories.

The colleagues on my team and my colleagues are great. They are always supportive, and constantly make themselves available if you have any questions which is crucial in this virtual environment

In my role, the job is simply taking inbound calls from clients all day long, troubleshooting their technical issues with our website, mobile apps, or trading platforms. If you have great customer service skills, and are good at dealing with frustrated clients over the phone, then this job is for you. Additionally, since it's a technical support role, you are not required to obtain any licenses although you are welcome to pursue those if you wish. 

The pay is great. I honestly thought I was going to be getting paid less when I took the job. Benefits are also great, and the job has a wonderful work-life balance. If you are good in your role, then you can advance quickly here. The opportunities are definitely plentiful. 

The cons of the job are mostly with two things: the training and adherence metrics. 
Training: Even if you are in a tech support role, Schwab still puts you through a 2 week content training phase which has you taking phone calls about things you'll never need to know again, thus making it a waste of time. Basically, the training for the first 2 weeks is tailored to people who want to become brokers or adopt other roles which require licensing at some point. Then after those 2 weeks, you end up training for your specific role, which lasted only for a week. I felt it should have been the other way around. The role-specific training was also very minimal. So much is covered within a very short amount of time before they put you on the phones so it doesn't make you very confident when you start taking calls. 

The adherence metric is also flawed in my opinion. It's a call center job, so obviously you'll have phone metrics to meet, but the most crucial one is adherence percentage which I feel is too high. For instance, If you take a call and it takes you over your scheduled breaks & lunch, or you take a couple 5 minute breathers, you're almost never going to reach your adherence goals. 

In the beginning, Charles Schwab was a wonderful culture and seemed like a great place to work. However, the stipulation that requires you to pass the FINRA SIE, Series 7 and Series 66 exams are extremely difficult. I was able to pass the SIE with my first attempt, but was unable to pass my Series 7 exam after two attempts (I got a 68% and 65% on my attempts and you need a 72% to pass). After I failed the series 7 the first time, the entire atmosphere changed at work. My managers were no longer offering help, my co-workers looked at my fellow new hires (who also failed their first attempt, 4 of us failed out of 5) and me as if we were complete morons. Everything that gave me a positive vibe before the exams instantly changed after that first failed attempt. Also, the job itself is taking high volume phone calls about participant 401k accounts, so they have specific metrics that you have to be within. For example, they don't want any one phone call to take more than an average of 10 minutes, but when it takes 3-5 minutes to get someone verified and then get them logged into their account, that 10 minute window came up quick! All it took was one elderly person who needed 25 minutes of help signing into their account and your performance for the day was trashed. My manager had told me time and again that I shouldn't worry about my metrics and focus on the exam material and studying. The only issue I had on the phones were my calls taking a little more than 10 minutes on average. Then once I failed my Series 7 the second time, my manager said, "Based on your stats on the phones we won't be able to offer you the position any longer." Which I think is really unfair, considering she told me to NOT worry about my stats because they would average out over the course of a year (mind you, this was at the 6 month mark when they apparently compared company stats across the board and decided mine were not up to par). Overall, it's a VERY corporate place to work and if you are the type of person who doesn't care about the quality of phone calls you take and are just worried about getting the person off the phone as fast as possible, then you will fit in great!

If you’re going into this company pursuing a career as a stock broker, and you’re envisioning anything other than taking 40-50 literally non-stop calls from upset, usually technologically averse clients, you’re in for massive disappointment. 

Admittedly, the training program is superb. I was able to obtain my SIE, Series 7TO, and Series 63 in a matter of six months. Unfortunately, it’s a bit of a bait and switch. The moment you “graduate,” you’re placed on your team and that’s when all support goes out the window. Now begins your 40-hour week of taking non-stop calls, and that isn’t hyperbole. The moment you hang up a call, your phone is ringing again immediately. And that continues for 8-10 hours per day until your shift is up. 

Like any other call center job, your success is measured in a multitude of metrics obtained from randomly generated surveys, many of which are beyond your control. Moreover, not every call will generate a survey. For instance, the prime focal metric is your OSAT (“Overall Satisfaction”) score. Anything less than a ‘6’ (the highest attainable score) is scored as a 0. So, if you have a stellar interaction, but you’re given a 5 for whatever arbitrary reason, it’s the equivalent of getting a 0 and will drastically count against you as such. Your annual bonus (which is no more than a couple thousand dollars) is also heavily influenced by your metrics. 

All-in-all, your mentors and peers are all outstanding and kind, but the work will simply beat you down mentally and emotionally. There’s hardly any room for advancement, and even when you do promote, it’s usually into a more advanced tier of the call center. 

I wouldn’t recommend this job to anyone except for maybe a kid fresh out of college looking for a paltry income and some work experience. If you’re already an established professional, I simply can’t recommend working for Charles Schwab, at least as a “Stock Broker.”

The role is 99% of the time phone calls. Clients can be difficult or demanding. If you're an introvert or get tired of talking to people you will feel drained all the time. I barely have any energy for people anymore; outside of work I just want to be alone.

The worst thing though is the lack of resources. I have always excelled at every job I've ever taken. With this, it's difficult, no matter how hard I try. The training programs were hilariously bad, I would take copious notes during them and come out completely confused. We are supposed to answer clients using an internal Wikipedia of sorts but it's extremely confusing, dense, difficult to search through, ambiguous, and at times, incomplete or outdated. Often you're forced to fall back on asking for help via word of mouth, calling out to other departments or asking your teammates or friends and getting different answers each time. I never feel confident talking to customers and I'm always afraid to make a mistake which could jeopardize my licenses. There's too much at stake to stake your job on so-and-so's opinion.

The metrics are super stifling. You have no control over that one called who just won't let you hang up. Then you've missed your break (penalized for that) and need to decide whether to skip it altogether (would be penalized even more for taking a break at the wrong time, even if you missed your scheduled one). Every second is measured, lunches are only 30 min, which is too short. People have figured out tricks to optimize metrics without actually evading work. They want to do an honest good job but the metrics are impossible. 

Otherwise the pay and benefits are great. Bonuses, dental, legal plans, I have no complaints there. 

I’m going to start out by saying, if you are a financial services representative, yes it is a call center, a company as big as Schwab this should not come as a surprise. That being said, it’s the best call center i’ve personally worked in compared to other basic call center jobs. What clients ask can actually be challenging and it revolves around finance (which is what my passion is) But that’s not why Schwab is a top place to work, it’s the growth and development that is available if you chose to take advantage of it. Since this is an entry level role you can be promoted and moved to other departments relatively quick as long as you are under the same customer service and support umbrella which carries a 2 year commitment before you can move to other areas like asset management, advisor, analysis ect. During your time on the phones and in customer service, however, you can pursue licenses, certifications. you can shadow other job opportunities also. If that sounds great, it’s because it is, but let me hit you with a reality check. To unlock these opportunities you have to be good at your current job! Most people i see stuck are ones that are just trying to get by, not improving themselves and not taking performance metrics seriously. This isn’t a hard job but it does require time management and efficiency, also high emotional intelligence to develop connections with clients even after short phone calls. Everything is tracked and it’s highly micromanaged because that’s how call centers work. It’s fast paced at times, high call volume, and you really have to learn what works for you, understanding the balance you have to maintain to keep your metrics high, if you can do that Schwab will role out the red carpet for you and with a company as big as this  opportunities in and even out of Schwab will be endless 

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