Just a heads up that Schwab's licensed folks are NOT easily replaceable, so don't let these fools in this forum or in the company make you think otherwise.
It would take Schwab MONTHS, and at a significant cost, to train people to replace us. They cant have temps placing trades - you NEED the license to do that.
Licensed people working in CS&S have a significant amount of power here. All it takes is us showing up, and not answering calls. Walt can explain that to CNBC and the shareholders.
Everyone is replaceable
There arent millions sitting around waiting to get hired. By Finra's own count, on their website, its about 620k, and that includes those people who have active licenses, but have left the industry. One of the reasons these financial services call centers struggle is because yes, the pay, but also once people get to the phones and see how demanding it is - they leave.
Because Schwab doesn’t hire people anymore. Just cans em. Every team is short staffed.
If thats the case, then why are we constantly short traders+9/10s and spending massive amounts in of money and time to train people to pass the tests? Do you work in CSS?
There’s a million licensed people around. We hire them all the time. Do they want $40k a year? Who knows. But series 7 is super common.