While I have you guys here, wondering how much people make depending on your level? Sr. Specialist vs manager vs senior manager vs director?
61 replies (most recent on top)
What do Branch Manglers make?
What if they're in charge of mangling multiple branches?
GL60 director (PL) 160k base + 25% ABO
Sr Manager +15 yrs 120k total comp
@Uhhhhh
Also Green. I went from 65k to 80k to 95k all base with 1 year going from 56 to 57.
@1oqq+1nUyA5bm
Ok, sure I will buy the 3 levels of MD's. But looking around the org chart, there are chains of 5 or 6 MD's in a row!
Embarrassed to admit we must be on the same career path. :( Grade 57; non PL; 15+ years; Far exceed expectations 2 of the last 5 years; 85K base; 14% bonus opportunity. Let it rip, I deserve it, sometimes the truth hurts!
DS 195k level 58 HCOL
That really su-ks. Hope you get the layoff you want and a great opportunity elsewhere. And hope the place where you land will recognize and reward your hard work.
As a PL, I can confirm that the longer you are at Schwab, the lower you are paid. Does not matter if you’re FEE, EE, or received corporate awards. Corporate awards are sometimes used for employees who are a flight risk. We don’t have the power to increase their pay or promote them, so we hope the public recognition of an award will placate them.
If you are a strong performer, have a boss who values you, you get a ton of Sendwords… and you still don’t get promoted, it’s because of the bureaucracy, not merit. Your boss probably even fought for you. Promotions are 50% relationships 25% luck and 25% timing.
Also I’ve seen this more than once: PLs, who have been at Schwab for 5+ years, getting paid LESS than their direct reports who were hired within the last few years. Schwab is terrible to its people.
Having Schwab on your resume will help you land something better. I know there’s a lot of stress and anxiety these days, but I also know we can all do better. Good luck, everyone. Know that you’ll be fine.
@1ema+1nUyA5bm It’s because of the TDA acquisition and it’s one thing that pi---s me off. We used to get quarterly bonuses, and 20% quarterly was amazing! And if you “exceeded” you could get 120% of you bonus, plus if the company did well, I once made 128%. Ah the good old days. They said our bonus percent would be lowered and our base brought up when we went to Schwab.
They lied. I still have the 20% bonus (level 58 Sr Mgr) but it’s annual. I think the minimum at my level is 12%, most are at 15%. And then complete a--holes like my jealous and vindictive boss cut it 30% for no reason - despite my stellar TDA performance. I think I only missed expectations one quarter in 4 years and it was due to a major team deadline miss. Makes sense. But the Schwab system is effed up. I keep trying to get my bonus lowered and base upped… but doubt I will be here long.
Just confirms that I'm underpaid, even here. 58, Sr Mgr, Austin. $120, 15% bonus, been here under a decade, but not by much.
keep in mind CS changed job titles right before TDA merger. In some cases they also got cute and cut people's base salary and/or added more "expectations" to the roles
Sr. Manager here, was Sr Software Engineer, L 58 around 130k + 0%. 18+ YoE, 8+ years at CS. I never asked for it but now I am some sort of a Sr. Manager/Lead with many more responsibilities but the same base salary
I wrote 0% bonus because despite EC saying we are over 100% funded for the past few years somehow my bosses managed to cut my bonus in half or more. Maybe it is my age. This year I was deemed unworthy so no bonus for me, zero. It looks like 60+ Hrs workweeks are not enough to earn the darn bonus. "Need to go above and beyond" they say, "Shoot for the stars". Oh, ok, thank you Good Sir for letting me know. Yes sir, I will try harder next time.
I wanted to rage-quit after the performance review a few months ago but then I saw the email about layoffs and got my hopes up. My resume is updated, a few recruiters standing by, the team is trained and knows what to do if I "get hit by a bus" . Good luck to all.
What level is what? Is 57 manager?
Also marketing what are you guys making?
57 isn't sr mgr
Sr. Manager, Level 57, individual contributor, $141k + 18% Denver
Great thread! (Another one that the people reporting to leaders what they’re monitoring here will not like to see, lol)
Sharing the Knowledge Is Power for Employers: https://www.forbes.com/sites/alizaknox/2023/01/26/so-uhhh----how-much-do-you-earn-why-knowing-others-salary-matters/?sh=3aded7ea4ac3
ABO % target is set for each grade level, but hiring managers can get it approved up if they can make a good case for it. I know this for a fact.
I think they are referring to the actual bonus payout, from say last year, or possibly averaged out for the past few years. The target bonus for each grade is set. I can't remember, but for 58 it was 15% I believe. Of course, based on your performance, bonus pool funding, and how this distributes in your org/teams, the actual percentage varies quite a bit.
One thing worth mentioning is it depends on the org you are in. If you are on the business side, the pay range for a given grade is lower than the same grade level on the tech side.
Yes i am.
To be blunt, you should leave. $85k with 15 YOE means you’re at the end of the road or what you can achieve here.
Nope
There are level 60 Directors with >$250k base too. It’s very org dependent.
Sr.Manager individual contributor, 170k + 15%.
I don’t make $220-250K base (non-PL) at level 60 - total comp yes, but not base.
I'm really curious about the different bonus levels. I thought all 58's got 12% on the blue side.
@1zlg+1nUyA5bm
Depends on the cost of living where you're located. I'd expect lower wages in Omaha vs SF, Lone Tree, or Austin for example. Look at similar job postings in your area
Last year a Director reporting to me, I'm a Director too. She made 250k salary + 25% bonus + Key contributor stocks. She made more than I did. She is an id--t too. I'm not sure how we keeping hiring these id--ts and then get rid off exceptional talent.
57, $125K HCOL. 5 years at Schwab
I'm pretty blown away by the figures here. I'm on the Green side and make $67,000 as a 55. If I were to bump up to a 57 after a couple years would I really be looking at a DOUBLING of my wages????
I posted mine yesterday and it seems like some of you may think it’s high. Well I just got off a call with Recruiter at another tech company (not faang), and the base is 60 K more than what Schwab is paying me. I’ve always known that Schwab underpays, especially in high cost of living areas. Don’t be under the illusion that Schwab’s pay is competitive. You all can do a lot better, even those of you who are getting remarks ok this board that your pay is high
Chief Executive, ~$22,000,000
Things have gotten kind of tight in recent years, been having to be a bit more careful with the finances. Real worried about the job market and not looking forward to being back on it if this whole layoff thing ends up getting worse. Right there with you guys
some of these - just wow (both on the high and low)
$155k + 15% bonus arizona
Def not under performing. Are you at Schwab? In my area countering doesn’t exist.
Level 58 and in sts. 165k + 10% bonus. 3 years at Schwab. Arizona.
@1pcp+1nUyA5bm
There are three levels of MDs, designated A1 - A3. This roughly corresponds to the old VP, SVP, and EVP titles. So an MD reporting to an MD isn't odd. You have grade 60 Directors, both PL and non-PL, making $220 - $250ish base, so MDs making over $300K, depending on the level, isn't that far out.
I mean we have MDs reporting to MDs reporting to MDs. What level is making over $300k, with bonus more than most others’ salaries ? Ridiculous. Too many middle managers. Layoffs need to address this huge chunk of layered middle managers!
58 135k 15% bonus and been at Schwab a number of years
Senior Specialist 98k + 10k bonus potential
56 115k total comp VHCOL in STS. Less than 3 years at the company.
58 $155k, 12% bonus austin