You can’t make this stuff up… After what we have been though with RTO and the anxiety of layoffs, our “leadership” has the nerve to ask people to stay and work OT for TG3? America is currently in a silent depression where the middle class is being totally gutted. Schwab don’t even pay a living wage to a great majority of it’s employees, and on top of that treats them like slave labor and has no regard for their humanity. The “culture” is BS and a lie… who gives a rats a-s about “though the client’s eyes” when they cannot walk a mile in their own employee’s shoes… it’s disgusting. Don’t think this will not come back to haunt Schwab when the prices of everything in America continues to skyrocket. If people cannot pay for life by a long shot, why would they continue to work at Schwab?
12 replies (most recent on top)
@1uph+1onNM9DB
If you can't live on $70k a year I really hope you aren't in a position here that gives people financial advise. At that point, you should be living comfortably and not living paycheck to paycheck. Purchasing a starter home will be difficult but not impossible.
As someone who’s worked “slave labor” wages for years a time, this job to me is quite spectacular. I see some of the salaries posted and I am in awe at the complaints that they aren’t livable, when I’m making $70k a year and feel quite well off. The stress is much lower, I make vastly more, and I work with people that are generally intelligent and likable.
Bro! You are underpaid!
@ikx+1onNM9DB - curious as to what you consider a living wage in 2023? I’m talking single person, no dependents - my calculation is $70K. If you want employees to “own their tomorrow” you have to pay enough so they are not living paycheck to paycheck - employees feel valued via salary/bonuses, not pizza parties - or just doing the cringy “schwamily” thing.
What strikes me is that there is no COLA in private sector - the pay bands are basically the same as when I joined Schwab in 2008. The joke “calibration” so managers are challenged when they want to give their directs raises is whack - folks have say in what your rating is when they have no idea what you do - so it’s like the f’n Oscars - need to schmooze all of those in the calibration meetings - my manager wanted to give me exceeds but folks who have no clue decided on “high Mets” so yes as a director puts the layoff target on me. But at this point I’m rooting for it.
@lqx+1onNM9DB I hope you are joking because wow you're making the big $.. I'm making far less Idk if I should feel good about it or start asking for a raise.. I can't even take a vacation without my team falling apart. I don't think my leaders even realize how critical my role is. They are all to busy trying to make excuses on who to let go so they can save themselves. I think we all know CS has too many directors who actually have no critical role to play. Some of them hardly know how a computer works and if they go things will keep functioning normally. If l go they are going to be calling me back in less than a week.
@ikx+1onNM9DB
Well said, bravo. As someone with a base salary of $235K per year, plus variable bonus, I am a well paid slave. I can take an occasional mistreatment now and and then.
Some of you all are so entitled. Even CS&S is making enough to live. I'm going to assume that is the area you are in because if you are complaining about Schwab being "slave labor" and not paying a "living wage" and you are in another department, you really are beyond an entitled snowflake who has been handed everything in life. CS&S isn't a great job and they are treated like cattle constantly getting screamed at by high net worth clients but it is certainly still paying you a wage you can survive on (not thrive) and it is no where near slave labor. People like you should be forced to work in an African diamond mine or cover for Uyger muslims in China when you complain a job you are voluntarily working is slave labor.
@yut+1onNM9DB You're on the wrong forum.
There is a system in the madness:
https://teambuilding.com/blog/quiet-firing
Spot on.
So quit