Thread regarding Charles Schwab Corp. layoffs

Charles Schwab Perks & Benefits

Insurance, Health & Wellness

  • Health Insurance
  • Dental Insurance
  • Flexible Spending Account FSA
  • Vision Insurance
  • Health Savings Account HAS
  • Life Insurance
  • Supplemental Life Insurance
  • Disability Insurance
  • Occupational Accident Insurance
  • Health Care On-Site
  • Mental Health Care
  • Retiree Health & Medical
  • Accidental Death & Dismemberment Insurance

Financial & Retirement

  • Pension Plan
  • 401K Plan
  • Retirement Plan
  • Employee Stock Purchase Plan
  • Performance Bonus
  • Stock Options
  • Equity Incentive Plan
  • Supplemental Workers' Compensation
  • Charitable Gift Matching

Family & Parenting

  • Maternity & Paternity Leave
  • Work From Home
  • Fertility Assistance
  • Dependent Care
  • Adoption Assistance
  • Childcare
  • Reduced or Flexible Hours
  • Military Leave
  • Family Medical Leave
  • Unpaid Extended Leave

Vacation & Time Off

  • Vacation & Paid Time Off
  • Sick Days
  • Paid Holidays
  • Volunteer Time Off
  • Sabbatical
  • Bereavement Leave

Perks & Discounts

  • Employee Discount
  • Free Lunch or Snacks
  • Employee Assistance Program
  • Gym Membership
  • Commuter Checks & Assistance
  • Pet Friendly Workplace
  • Mobile Phone Discount
  • Company Car
  • Company Social Events
  • Travel Concierge
  • Legal Assistance

Professional Support

  • Diversity Program
  • Job Training
  • Professional Development
  • Apprenticeship Program
  • Tuition Assistance
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Post ID: @OP+119PSPiK

13 replies (most recent on top)

Fidelity's benefits are a lot more generous. Many of you may want to check them out.

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Post ID: @kxxt+119PSPiK

How do I get this gym membership? And pet friendly?? haha!

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Post ID: @ipld+119PSPiK

The perks are not bad, but not the best, compared to some tech giants in the area. Here are a few of the top perks IMO, and keep in mind I have been here 20 years+:

  1. 401K match at 5% of your total yearly compensation that includes your base salary plus bonus. I make about $200K base, plus another 15-20% plus depending on funding and performance, so that's over $10K a year in 401K match that vests immediately. They also match 2 for 1 up to max of $250.
  2. Educational reimbursement up to $5,500 for graduate school. Used this a few years ago to pay for my masters degree. Not the highest, but its something.
  3. Four weeks of paid vacation after 10 years of tenure. It's 3 weeks for senior staff/director level under 10 years. This is on top of 2 weeks of paid holidays, of which 2 are floating holidays, and 2 weeks of sick days per year.
  4. Bonus is %15 target of your base salary. This can span a bit, and there were years where you got nothing during the late 2008 unpleasantness. But when those interests started rising, were looking at a consistent $20 - 40K a year.
  5. There's of course medical, dental options. I have a family with two small kids so its not bad, and you have a number of different options depending on you preference, HMO, DDO, PPO, and etc.
  6. Free coffee that you can brew by the cup that doesn't taste that great. I prefer Nespresso, but hey it's free.
  7. Access to a refigerator.
  8. "Discounted" lunch. Or subsidized in onsite cafeteria. Not free.
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Post ID: @3zxb+119PSPiK

1st off i do not work at schwab anymore ( retired ) , but i have a friend that was cough in the layoffs this month . i think schwab has great benefits compared to other companies ( check oracle ) , schwab sabbatical , severance and many others which everyone knows .

the only thing that bothers me about the layoffs is the people that had years built up for a sabbatical and not getting anything for them , also people that had hundards and hundards of sick days banked that they were building up for when they need them ( unlike the people that took their sick days every month or 2 ) .

schway could have at least prorated the sabbatical years built up and sick days banked and paid at least 1/2 to those let go .

i think that things will get much worse at schwab if interest rates keep going down ,

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Post ID: @3kcq+119PSPiK

Free lunch and snacks, gym membership, pet friendly workplace, company car? hahaha

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Post ID: @3smb+119PSPiK

Pet friendly workplace????

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Post ID: @1bap+119PSPiK

‘Company car?’ My company car was a Red Line train filled with homeless and drunks.

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Post ID: @1pfp+119PSPiK

Okay, you're really posting the benefits for working at Schwab on a site is named 'thelayoff.com' and on a thread for Schwab... You're either trying to do PC control or trying to rub everyone's noses in - I still have a job at Schwab and you don't! Wrong place, wrong time, Schwab has great benefits to work at, and I don't believe anyone one here would disagree, but seriously, posting the benefits after laying off a number of people is like thumbing your nose at them or giving them the middle finger... I'm not in HR and I know better than baiting a mongoose...

And yes, I was let go, good severance package, not complaining on that, I kind of built my team up from 2 employees to 7, while not even being a sr analyst, and there was never a chance I'd be promoted. I do wish my remaining teammates a lot of luck and hope they can fulfill the job. All of the changes in leadership stunted the ability to get the team to the next level, we were close a couple times and then leadership changed and we had to adapt and told our focus is something different. If we weren't told every 4 months, stop doing what you're doing and focus somewhere else, we really could've done something great...

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Post ID: @1omq+119PSPiK

Just a tiny point: The smaller perks are there on some teams (for ex snacks and periodic lunches for the Digital Accelerator teams) but that’s very uneven.

Company car lol. Obviously not the norm. Occasionally I have seen rentals covered, like when someone was needed in one corporate location (where they weren’t based) for a few months at a time and they agreed to live there in a long-term rented apt. But obviously that’s a really specific situation

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Post ID: @off+119PSPiK

The following were not available at Austin:

Flex Spending Account (HDHP with HSA only option)
On-site health care
Pension plan
Free lunch or snacks
Gym membership (subsidy only since no on-site facility)
Company car (yeah, right)

Also, this little gem is a flat out lie:

Reduced or flexible hours

I regularly attended Friday night releases starting at 11pm CST every month and additional weekends when patch releases were needed. This was in addition to weekly Tuesday and Thursday night releases for cloud deploys. As a 58, I received no overtime and comp time was never granted.

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Post ID: @jcf+119PSPiK

Is even half of that true? Company car? Yeah for the high ranking executives who can afford a Lamborghini with their smallest bonus.

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Post ID: @tyb+119PSPiK

Looks like HR is trying to show how "great" it is to work at Schwab. I disagree

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Post ID: @zer+119PSPiK

What's this?

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Post ID: @axz+119PSPiK

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