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Employee Review of Charles Schwab - Check out more reviews of working at Charles Schwab

4.6Rating Details
Category
Pay4
Respect5
Benefits5
Job Security5
Work/Life Balance5
Career Growth5
Location5
Co-Workers5
Work Environment5

From Phoenix, AZ — 05/10/2009

Some of the reviews here are not really helping out because you don't know the role they are in. Also, some of these people just seem like they like they have an axe to grind. I don't, I just want to report on my experience there as I see it and hopefully someone thinking about Schwab will have a fare assessment before going into it.
My Role and a Typical Day: I work standard market hours from 9am to 4pm M-F. I can work overtime but it is not mandatory at all and no one looks down on you if you don't. It is an inbound call center enviroment and you need to be on the phone for at least 80% of it ready to take calls or on a call. You answer client questions, place trades, help research issues that they might be going through. Additionally, you are coached to look over clients' accounts and see if we have anything that might help them. For example, if they are sitting with a lot of cash, you might ask them their plans on that money. Depending on what they say you will offer a solution. YOU DON'T JUST TELL THEM A SOLUTION WITHOUT ASKING FIND OUT QUESTIONS. You must find their needs first. Also, this is consistent with how management wants you to talk to clients.

Part of the job is casually recommending products, however these are always of benefit to the cleint and over 90% of them do not cost the client any money, which is great and they are always of benefit to the client because you went through their account or asked questions to find out about their suitability. Management listening to calls upscores that and that is exactly what they are looking for.

Pay: The pay is ok. It is a call center job so you can't expect the world. You aren't really selling products to get commission, but you do get a yearly and quarter bonus. If you are on the phones starting out it will be about $34,000 a year plus the bonus. Then they 401K match to 5% and you great benefits with schooling money for a masters and undergraduate studies. . After a year of working there I Was bumped to $38,500.

Great respect at Schwab: People are very nice to work with and you can make a lot of friends quickly there. Management is extremely tactful when criticixm is given and mind you I am not a manager, still a phone rep. However, if you are not wanting to ever be evaluated this is not your job. You have calls that are pulled both by your manager and a quality assurance rep adn they look to see how well you helped the client. As long as you are trying to do the right thing for the client every time you won't have a problem. If you are trying to give the clients the wrong products and services because you are too lazy to find out what they need you will have a problem. However no commission is given anyway. Personally, I am always helping clients find a better interest rate in one of our other products, and I get upscored for that. WHO KNEW? Trying to get the company to pay a client more interest and I get upscored!

Job security is nice. They idea is to thin out management or supporting roles before they ever touch a client facing rep like me. Their philosophy is to keep the ones you are experienced with the clients on the phones where they should be.

Work/life balance: Standard 40 hour weeks. 3 weeks vacation any time you want to use it that is available. Fine with me..

Career potential: You can o almost anyone in Schwab after you hit your year mark. . I got my promotion to their million plus team after 14 months and my buddy who is manager material became one after 13 months.

Location: They are in Phoenix, Denver and Indianapolis for there main places, but then have 300 branches too. Most though are at the big centers.
Coworker comp. is good. All my colleagues I would trust to handle a client as good as I would if not better. The comraderie is great too. so I like the environment.

This is a routine job though. However every client and situation is different so it takes a while to get comfortable and you really have a lot to learn. You are required to get a series 7 and 63, but they pay for it and give you a month of classroom to train for it. I passed my first time. I am getting my masters through them and they are paying up to $5,000 a year on it.

My experience is very positive and the skills you learn are incredible you will become an amazing communicator since you are constantly trying to figure out what a client is needing or what they are really aking.

Sorry for any errors here. When I type it in the text blinks and I can only see it when I hold the key down for a split second.
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