My manager is managing me out it is quite obvious. Is it part of the Schwab management playbook to make up bullsh-t compliance cases to terminate you for cause so Schwab does not have pay severance?
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Also watch out for if you become the scapegoat for project delays, even when the work has actually held up by another link in the chain. Do not doubt that they will dishonestly pin the blame on you, even when it is clearly obvious.
This is my summary of Schwab after being there for years.
Director: We need to reduce headcount.
Manager: We just need a coaching memo.
Compliance: We just need to make up false compliance cases to fire as many brokers.
HR: Did you complete the glint survey?
NSD: Did you try restarting?
Coworker: Can you plz take the call idk what I'm doing.
Client: Why can't I login?????
Me: Please fire me.
This is my summary of Schwab after being there for years.
Director: We need to reduce headcount.
Manager: We just need a coaching memo.
Compliance: We just need to make up false compliance cases to fire as many brokers.
HR: Did you complete the glint survey?
Coworker: Can you plz take the call idk what I'm doing.
Client: Why can't I login?????
Me: Please fire me.
This thread is in violation of exposing Schwabs fraudulent practices of firing hard working brokers. Your supervising compliance officer has been notified.
@dy You are right - may also occur when one employee doesn't get along with another - that employee talks down the other employee till they are on a PIP - and the rest is history. Remember - Karma is a b$tch and truth will be shown at some point. As for the leadership that is involved in this - also have seen them disappear when someone new above comes in that threatens them - takes longer but have seen it happen
@vc That may be the policy, but in practice PIPs and bonus decisions are often used as retaliation, at least in my department. The pattern is consistent: friends are promoted, and once you’re on the wrong side of certain MDs, a PIP and a withheld bonus tend to follow. Repeated outcomes involving the same MDs and different individuals indicate the process is being used for removal, not as a legitimate performance tool.
No, it isn't part of the playbook to manage out employees in order to avoid paying severance - that would create all kinds of legal implications. But if you are having consistent performance issues (especially the same issue again and again) then they are trained to document and - depending on severity of the issue - move to write-ups or termination.
@tv In my department, you see this unintentionally proved in self-congratulatory LinkedIn posts from leadership. The posts celebrate connection and success while ignoring how tightly advancement is controlled through access and gatekeeping.
From the outside, it reads as deeply insulated and strikingly clueless about how the system actually works for everyone else. That reality becomes clearer when the same names, faces, and connections repeatedly surface in moments of self-celebration.
@hj That’s how it should work but in reality, gatekeeping plays a big role. With limited advancement opportunities, access often depends on ego management and alignment, not expertise. Knowledge gets extracted, while influence stays concentrated with a small circle, in my experience.
I want to get fired. Schwab is so sc-mmy.
Schwab does NOT have to offer you severance when you are fired, though you will most likely get your unused vacation paid out. You should be able to apply for unemployment, though it will be contested. Be prepared to make your case and as long as it’s solid the state will probably side with you on the UE. Been there done that.
Key point- it definitely is who you know as what you know. The Schwamily concept is just a nicer word for nepotism. This isn’t on purpose- simply that those who have experience, have knowledge. If you don’t have a Schwamily, befriending those that have years of experience is a good place to start.
Understood, and expected.
For many of the Naive, and Uninformed; on this board.
As noted.
Yes, this does seem to be part of the Schwab management playbook.
Speaking from experience, I’ve seen people managed out through highly subjective, performative performance narratives rather than clear, objective issues. PIPs built on selective facts or shifting expectations are used to justify a weak leader’s desired outcome, not to coach or improve performance.
Those same leaders who use these tactics are then featured on SCHWEB, doling out advice that essentially boils down to identifying who’s in charge and aligning yourself with them (which makes sense given it’s exactly how they rose so quickly). The firm elevates these individuals as models without recognizing that this path produces leaders who manage through ego and control rather than competence.
Schwab settles for employee non-compliance? lol
How about stay in compliance, do your job and be part of a team that makes improvements.
Yes, always always have a contingency plan, as the firm has terrible HR and org management flaws.
All the sudden I am out of compliance and receiving compliance emails.
Yes, very common at Schwab. My manager in particular had a long line of victims before me, and has had another one since as well. HR seems to protect her though. Start job-hunting asap. Often when a horrible door like this closes, a much better one opens, and this is not just a cliché.
First time?
Bingo
Yes.
There’s advice in old posts, but document everything, make recordings, respond to the coaching memo or notice with an employee file statement and set yourself up to fight. The statement is to document errors and not for debate now. Do not provide your managers. Just to HR. Folks win all the time as Schwab settles. But you have to be ready and solid. Do not sign anything.