Anyone in management hearing they are going to axe sabbaticals? With every single TD employee becoming eligible at the same time I don’t see how they will continue the program. My guess is after integration and layoffs they make this announcement
10 replies (most recent on top)
Seems legit. They ignored 15 and 20 year Tda anniversaries in my area without telling anyone they didn't count anymore. It would fit the Schwab pattern if they never allowed the sabbaticals that were supposedly going to make up for that latest slap in the face.
I had heard that at one time Schwab looked into going to a PTO model. Also heard that at the time HQ was in California and they would have required the company to pay out sick time at the transition. This would have obviously been very expensive. Not sure if this was fact or not or what their thoughts may be going forward.
Sabbaticals are an expense to the company - don't under estimate that they will re-evaluate them and the sick time. Most companies give you PTO to use as you need - sick, vacation, etc....
Katie said they are here to stay at the Omaha town hall. So expect an announcement soon that they have evaluated the total compensation package and have decided they are eliminating sabbaticals, but our package is one of the best in our industry.
I haven't qualified for my first one yet, and I believed when I was hired at Schwab (pre-TDA acquisition) that the benefit would be taken away before I'm eligible. There's still time. I haven't directly heard it's going away, but I won't be surprised when it does.
Once you get to MD level, you don't get a sabbatical anymore
Nope funny thing is it seemed Walt was surprised that it didn’t when the question was asked at a recent Omaha town hall.
TBH, Company is big enough that it won’t matter each group will manage sabbaticals and figure it out.
EC team here…. we make sure to take our upcoming sabbatical then we axe it. Now deal with it.
So, basically… no. TD employees all have the same “start date” at Charles Schwab (sometime in 2020, I don’t remember). In 2025, all TD employees will be eligible for sabbatical, so it wouldn’t surprise me if they axes that benefit instead of dealing with it a few years from now (cus, you know… Schwab be Schwab)
Schwab newbie here. So, TD tenure wasn't carried over with the acquisition?