Has anyone gotten their “mapping” to Schwab yet? Seems like they are downgrading a lot of TDA people and breaking up very functional teams. :,-(
And all people level 57 and under are HOURLY? I have no idea how they get away with that, it is total BS and they are going to lose all their younger talent that way...
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I've been holding onto my ESPP shares, accumulated over 12 years, with maximum 10% contribution of my pay, every quarter. With dividend reinvestment set to on. Lets just collectively say shares hit $76 today, and give a collective woo hoo. I have also held onto all RSUs and ESOPs, the ones that have not expired yet at least. Lets get another collective woo hoo for the $76 price target today. Woo hoo.
This not include my Roth 401K, which I max out every year, with the 5%+ $500 Schwab contribution. Lets get another round of woo hoo, as my selections have just grown like crazy. Woo hoo.
Schwab is a decade behind where TDA was and set in their ways like something I've never seen. The firm is hopeless and doomed. I'm cashing out my RSUs and leaving.
Excellent. Please leave. From the TDA folks I've worked with so far, not impressed is an understatement. Bye.
I learn more about the context of why schwab is the way it is from these boards than I do from Schwabbies at work. That's telling.
And to everyone telling TDA folks to leave, trust me, we are. Good luck with KLO.
I think that Schwab bought TDA primarily for the accounts and the cash float. The same reason they took the account from USAA. The technology (Thinkorswim), and the talent were secondary in the their view.
Schwab bought TDA for talent, technology and accounts. Encouraging TDA associates to leave is not in the best interests of Schwab’s investment.
OMG. You TD guys are so stuck on yourselves. You dont like the pay structure? Leave. You dont like the way things are transitioning? Leave. YOU GOT BOUGHT! HELLO! BE GLAD U STILL HAVE A JOB. Leave if u r so unhappy. Schwab will go on without you.
To add on the point that not all managers are non-exempt, such as managers at call centers. Take Financial Consultants at Schwab. They all have the title of VP. But they are not real VPs. The title just makes the client feel more important than they actually are, that a VP is talking to them.
The analogy here is the difference between the US Navy versus the US Air Force. Talk about culture clash. Navy Captains are a big deal. The command a battleship or nuclear submarine. Air Force Captains are a dime a dozen. Fly a cargo plane hauling rubber dog doo doo? You're a Captain of a C-4. Not quite the same.
Now take this back to the culture clash between TDA and Schwab. Navy and Air Force. Word up.
Did you ever hear of FLSA federal laws? They determine hourly vs salaried based on a list of issues. It is really not up to Schwab. . The safe approach is to go hourly so that employee gets overtime. If a TD job changed to where the employee does not have the same decision making opportunities, that could impact the determination. And not all managers are non-exempt - moreso in call centers.
@1kxg+1aUvS5uq you’ll soon learn only certain grades are invited to Crawford’s financial update among others. Other grades are not invited or for certain calls have to ask for permission from managers to attend
Another example of culture clash. Hourly for anything below a senior manager is bonkers to a TDA person but standard practice to a Schwabbie. Haven't gotten my mapping yet but I'm not holding my breath. I've heard more than once that Schwab engineers are "watching their hours" - maybe it's a good thing to cap at 40?
Yes 56 is a specialist. That’s hourly.
Yes, hourly. Thats the way it has been for the past decade. Grade 57 and above are exempt. You understand what this means right? If you are grades 54 to 56, then the firm cannot make you do overtime. They are very careful in the number of hours you put in, otherwise it's time and a half. Just like at Mickey Ds. You know. McDonalds.