Thread regarding Charles Schwab Corp. layoffs

Why doesn't anyone in STS get promoted anymore?

I know Simon is about as lifeless as it gets and it's just about impossible to get work done but when was the last time anyone was promoted? I had a conversation with someone from another team today and we couldn't name one person that we knew that has been promoted over the last 5 years. Schwab technology has become a stale, micromanaged cesspool where nobody works together and if you try to actually drive change you are met with an army of detractors.

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| 2102 views | | 16 replies (last June 27, 2024) | Reply
Post ID: @OP+1sMJD5ZD

16 replies (most recent on top)

@ddyl+1sMJD5ZD gets it. When will the EC?

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Post ID: @sdcn+1sMJD5ZD

What teams and leadership chains are part of STS?

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Post ID: @qoxo+1sMJD5ZD

I knew someone who was promoted to grade 60 in STS as an IC, but was then back to grade 58. How does that happen?

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Post ID: @kkjf+1sMJD5ZD

hahaha, no responce. STS is such a top down sh-t show of cant-do IT people.

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Post ID: @jnol+1sMJD5ZD

Adding to @ddyl+1sMJD5ZD: Can anyone point out a team in STS that has improved their processes, automated, or made things easier on application teams?

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Post ID: @dcrw+1sMJD5ZD

CISO should be removed from STS.
Processes are terrible, MDs should be held to this.
Too much internal STS just create work send out spreadsheets via email. Loss of overall service. True description of sh*t show.
You want to be expense responsible? Hire MDs that would deny sending out enterprise emails with instructions and spreadsheets - rather, how you improve the process to remove waste and make it easier for application teams. It’s a terribly led division and shocked this LT has been allowed to remain, somewhat speaks to Walt and ability to enforce some top level change that’s really really really needed. Schwab needs some new leads in tech. Otherwise probably a dying whale

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Post ID: @ddyl+1sMJD5ZD

Offshore is getting promoted every day.

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Post ID: @3ica+1sMJD5ZD

Promotions are never about great performance. Never.

They fill positions with broader professional skills. When awarded to an internal employee, they are acknowledgement of perceived ability to grow into the role, a symbolic means to incent greater performance and avoid the risk of an external hire. This is particularly valuable when the internal candidate does not require backfill and headcount is frozen.

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Post ID: @1wdl+1sMJD5ZD

Typically promotions are a result of great performance. So that would cancel out anyone from STS supporting HR

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Post ID: @1jnq+1sMJD5ZD

My manager seems to only promote workers who kiss his 🍑 in STS

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Post ID: @1tdv+1sMJD5ZD

Still trying to make Distinguished Engineer..... Trying....

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Post ID: @snx+1sMJD5ZD

I know of two people that were promoted from 56 to 58, but they were on smaller teams, and one of them was laid off in October. Have seen others go from 56 to 57 in security, SRE, and storage jobs, but it's rare. Where you start determines a lot. Schwab has too many 58+ and most of them coast and aren't going anywhere. Unless you're automating all of your teams manual processes, stringing multiple years of performance reviews with 4's and 5's, and can make a business case for promotion, you're not going anywhere.

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Post ID: @nlz+1sMJD5ZD

Colorado labor laws now require promotions to be fair. Our options were to be fair or stop promoting people.

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Post ID: @xsj+1sMJD5ZD

Over the last five years? We’ve promoted at least seven in STS. Most of those were new hires who were promised promotion following six months.

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Post ID: @wts+1sMJD5ZD

You are surprised?

It's called cronyism and schwab is all in

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Post ID: @vkk+1sMJD5ZD

Because f*** Schwab

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Post ID: @tzr+1sMJD5ZD

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