I've been thinking about whether staying here long-term is even realistic anymore. Everywhere I look, people are just going through the motions until they find a way out. New people, old people, it doesn't really matter. The consensus seems to be that Schwab is in decline and nobody should be pinning their future on it. Maybe that's for the best.
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@ct
Robin Hood is more agile, but do people with real hard earned or even acquired wealth want to put it on a gambling platform? And I read earlier that RH, gets their clients the worst execution prices for trades.
Keeping or growing money, it seems, would be the priority over a more agile provider.
@rr those lower roles in your American company need to be filled by American citizens, period. The only time you should have AI or Indians doing it is if no Americans can or will do it. Your profits should not come at the expense of the people whose country you have the privilege of doing business in. Per Schwab’s OWN analysis, 60% of Americans live paycheck-to-paycheck. Yet we’re all supposed to pretend the failure in this situation is the worker? Even one that is content with where they are in wanting to work a job held for who knows how long?
And why not? Because it’s just not profitable you see, despite the company just coming out of a record-breaking quarter yet again, which will almost undoubtedly be followed with further layoffs and offshoring to make even MORE. Because the only thing that matters to the government and the people that can change anything is MONEY. That is all that America is now, one big company for everyone to do business. Absolutely sickening.
You’re right though, we all just need to work harder and plan to be mega managers! Maybe then you won’t offshore the ten jobs left for people that actually live here. I’m not optimistic though.
@pb Companies hire talent with the intention of integrating them into the company then moving them through more and more advance roles. They don't budget $200k for a role with a market rate of $60k simply because the person in it refuses to move beyond it but expects their pay to increase every year. It would be unfair for me to have stayed a Specialist in AS all these years and be earning the pay I get now after moving all the way up to Sr. Manager. Those lower roles need to have lower expenses. That's just economics
@np Translation: “Stop asking why we are replacing you with Indians and AI. Your job didn’t even matter, if you were working it for that long you deserved to lose it. And anyway, isn’t it racist to wonder why a company based in your country whose local office you are forced to drive to almost every day keeps farming out your job to a foreign country 9000 thousand miles away?”
@ne Putting aside your very racist comment, being replaced by AI or offshored only happens when you fail to evolve and grow. You can't stay in an entry level position your whole career and expect to have your pay continue to increase. Had I still been a Specialist after 22 years I'd be very concerned. But I took full advantage of all the opportunities that Schwab presented to me and now I'm a Senior Manager. In most companies you could never expect to rise that far in that period of time.
@n7 that’s great! What would you say to the others that followed your path and were replaced by AI and Indians?
Don't let negative people drag you down. I joined the company in 2004 and people were saying there was no future at Schwab then. Malarkey! The opportunities have been endless. I was a Specialist when I joined the company and over the years managed to climb the ladder and today I am a Sr. Manager. Stick around and you can do it too!
I’m wondering about the future of the jobs market in general. I really do not see the model we’ve adopted sustaining for much longer. We need jobs. For Americans. Hundreds of thousands of them. But they’re continuing to vaporize more and more every day, creating few if none. Some half of all new graduates are continuously unemployed or underemployed, to say nothing of those underemployed even a decade later. We are ki-ling what’s left of the labor market in real time, it’s just disgusting to watch.
You said it yourself. Schwab is on a steady decline. Work is moved to the GCC in India as a stop gap plan. However, Schwab is not able to compete with upstarts like Robinhood who are better "at being Schwab, than Schwab". Get out while you can, and work for a real company, and not for a circus!
I’ve been here many years - double digits. It has always been - but is more so than ever, a clickly club. You are in it or you are not. You can have a good career here, but working harder, longer, etc will only go so far. You are in the click or you are not. Get along to go along. Don’t be a challenger of anyone senior to you, any idea or strategy proposed by those in leadership. Say yes. Do your job to expectation. Then go home and live your life.
I used to work with Group, which was known as O2. It was highly toxic and pathetic. They had a cabal that only let in people who thought good and su-ked up properly. You were hired until you were not. No communication, no feedback - just one day you were no good. It was a mainframe-dominated group. They used non-mainframe people and slowly gave them poison to throw out the team, and the fu-kery continues. This is from the contractor side. God forbid anyone join that group as a contractor from the vendor side, especially on a non-mainframe tech stack. I can pray for mental health. They've been handling mainframes for the last two decades,
so if you run away, someone less will handle simple things.
Make a self pact. Interview every three years. No matter how great or terrible things are. Polish your resume. Worst case you’ll keep your job hunting skills current. Best you’ll be offered more money and opportunity.