Can we talk about how awful the company culture and military like the culture is at Schwab?
Along with the constant broken promises for career growth to employees feels fraudulent!
They have been playing all kinds of dirty tricks on employees to push them out aggressively.
@q4 is glitching
Former MD here, and I will tell you that over my career that firm was probably the worst that I ever worked for. Annual bonuses were a joke, merit raises even more insulting between one and 3% for Far Exceeds. while top brass reap millions in compensation. I genuinely cared about my teams, but unfortunately had my hands tied by HR who was obviously driven by the very top with regards to how much money I could give or any promotions that I can give to teams this firm relies on a meat factory approach staffing call centers with young college graduates with finance degree is promising them an exciting career. this firm relies on a meat factory approach staffing call centers with young college graduates with finance degrees promising them an exciting careers. Which never comes in most cases. If you walk the halls of Schwab, you will see numerous 10 to 20 year veteran's languishing due to the fact that their employability has been damaged from working at this firm. This firm is filled with superficial, phony, senior management, who could not care less about the majority of the staff that work there but the worst part of it is that they are hypocrites and pretend that it is such a great place to work. It is one of the worst jobs in finance if you are smart and young, you should immediately look to leave this firm. Better to work in a cutthroat from where at least you know where you stand rather than have to look into the eyes of the majority of the senior managers who are snakes and liars but worst of all completely incompetent and bureaucratic in their approach to businessbut worst of all completely incompetent and bureaucratic in their approach to business
We all needd start making this known to Tayor Swift thru her socal media channles. She's somebuddy whose really commited to justise and equalty and this type of thing wold make her realey realey mad. Pluss she have enuf money that she could buy enough shares to influense things for us and maybe even get on the Bored. She'd restore full time WFH and raise our pay to match our hard work and make sure this awfull stuff comes to a stop.
@dm actually your take perfectly sums up the broken culture at Schwab, only someone miles removed from frontline reality could believe stock grants = talent. Most people here are grinding through phones and impossible workloads while a tiny clique hands each other RSUs in conference rooms.
Your ‘lousy worker’ comment exposes how sheltered you are. And pretending that forfeiting millions is the same choice as a call-center rep risking their rent shows exactly who benefits from this place and who gets crushed by it.
Can we also talk about the promotions being frozen, How about all these poor souls that were promised the "2 year commitment" on the phones only to be lied to by leadership?
How about every fraudulent tatics to force employees to quit?
@dm I am not a lousy worker and I shouldn't have to leave. The reality is we don't work for Rick or Chuck. They work for us! They don't do anything except make plans. Without us to execute those plans, they can't do nothing. They are completely at our mercy. That makes us in charge, not them. No, I won't leave but what I will do is demand fairness and if they don't deliver, then neither will I.
More mafia than military. But you’re right.
@dm It’s telling that even the people sitting on millions feel trapped here. Talk to Chuck has devolved into Chuck toasting MBS. People stay for different reasons, but nobody’s staying because this place still has a soul.
@dm Stock awards aren’t proof of talent, they’re proof of access. If you honestly think not having them makes someone a “lousy worker,” that’s the kind of out-of-touch take only someone insulated by privilege could mistake for insight.
Yeah, everyone can leave, but walking away from a million dollar cushion isn’t remotely the same as walking away from next month’s bills. Pretending those choices are equal is delusional.
@de Actually, those cashing out all that stock have less ability to leave. A lot of their comp is in stock that vests over a four year period and if they were to leave they would forfeit millions. If you have cash based comp you can leave anytime without giving up anything. Really, by saying you don'y have the option to leave, you are admitting you are a lousy worker so no one else wants you.
@b4
SEC Form 4 filings show Schwab insiders have unloaded nearly $160 million in stock over the last 24 months (many of them cashing out millions at a time). Those are the people who actually have the ‘option to leave.’
The rest of us get 2% raises, frozen promotions, RTO tracking while we worry about being the next efficiency.
@b4 “‘Just leave’ is only an option for the people at the top, the ones cashing out millions in stock while everyone else has constant layoff anxiety. Thanks though for perfectly summing up what ‘servant leadership’ at Schwab looks like, serve the executives & silence everyone else.
People aren’t staying because things are good, they’re staying because the job market is awful and leadership knows it.
You always have the option to leave. Might be the best option for all involved.