And why are first line managers Directors?
At most other companies Directors at least second line managers.
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2 words - Human Centipede
It's not a Schwab "thing" - the levels/titles are similar at any financial institution. Outside of MD, a "director" or "manager", etc. doesn't necessarily denote a "people manager," it's a compensation/accountability/responsibility level. So yes, you have Directors and Managers, Senior Managers who can be both ICs and PLs. An IC could be a director who is an SME and manages or is responsible for a function/program and reports to a PL director who manages people for one or more functions/areas. I have a friend who's an Executive Director at Morgan Stanley and he is an IC. It's pretty standard, especially in financial services. MD is the only title at Schwab that requires you to be a manager of people.
@180 look at who has been here forever and who is gone. Except for removing the toxic Hans and Franz gang we have been stuck with Tiny, Says and Menace.
Not a Director problem, rather a EC and a HR Org Dev problem.
Never seen such an unfair compensation structure…. How stock is distributed, how raises are determined, and bonus. Employees in the same role are paid via bonus % differently, etc.
Directors and MDs are approved to be remote. Like, huh?
It’s such a toxic workplace. Yet, same MD levels are still at the firm. Rick needs to grow a pair and make some change. Bring in some good tech leaders.
Also why are there so many managers? There are TONS of individual contributors who have the title "Manager"
Agreed - directors should always have minimum of 3 managers.
The concept of technical director is silly. Too many. Scratch the architecture dept not needed too much overhead across STS any area not supporting applications should be outsourced
Shielding incompetence from accountability is expensive and requires multiple levels of protection.
Directors reporting to directors are the first to get cut.
@ck love the circle!!!
because HR is stupid and ties pay to title. Only way to pay engineers or platform architects real-world wages is to make them directors. This then sets precedence for other teams to have a bunch of people-manager directors all circlej--king each other and passing back and forth the same copilot written slop which bubble up to a high level executive summary that is just a word salad and doesn't actually say or mean anything, but it sounds good on paper and provides a vague enough guardrail so that the next outage isn't their fault because technically what they had a clanker write could have been interpreted as sufficient risk mitigation.
there's teams with three lines of directors reporting to each other!