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E-Trade Financial

Headquarters: 1271 Avenue of the Americas, 14th floor
New York, NY 10020
Employees: 3.009
CEO: Paul Idzik
Stock Symbol: ETFC


Career Page

E-Trade is a pioneer in online stock trading where customers can trade stocks for as low as $9.99 per trade. The company offers financial and banking services for both consumers and businesses. It has over 3.1 million brokerage accounts.

E-Trade also offers corporate services, including employee stock plan administration, as well as market-making services to brokerage firms. In addition, the company provides global institutional customers with a range of securities brokerage products and services, including institutional trading.

E-Trade has 30 retail branches across the U.S.

In 2014, E-Trade reported total revenues of $1.8 billion, up from $1.72 billion in 2013. The company reported net income of $293 million.

At the end of 2014, the company reported average trades of 168,000 per day. The company added 146,000 net new brokerage accounts in 2014.

“This was a momentous year for E*TRADE,” said Paul Idzik, Chief Executive Officer. “Our unwavering commitment to our customers produced tremendous results as our brokerage business reached multi-year highs in customer trades and net new brokerage accounts, and all-time records in net new brokerage assets, account retention, margin receivables, and managed assets. We also made exceptional progress de-risking the firm and executing on our capital plan – highlighted by the sale of a high-risk portion of our loan portfolio, the sale of a non-core business, and consistent regulatory approvals for dividends from our bank, culminating in the pay down of $400 million of corporate debt. Entering 2015, our progress continues with approvals from our regulators – enabling us to operate the bank at a lower Tier 1 leverage ratio, remove our broker-dealers from under the bank, and distribute their excess capital to the parent. All are important votes of confidence, and underscore the company’s noteworthy progress. As a team, we are excited about what lies ahead of us and are eager to seize new opportunities in the coming year.”


The company originated in 1982 when Bill Porter, a physicist, inventor and entrepreneur, develops technology that will later be used to launch the Web site. In 1983, the company launches its first online trade over a network via CompuServe. E-Trade would also allow customers to buy stock via automated phone. ETrade begins offering online brokerage services directly to individual investors through several online services in 1992. In 1996, the company launches its web site and shares of the company would go public on Nasdaq.

E-Trade would join the New York Stock Exchange in 2001 and move its headquarters from Menlo Park, CA to New York in 2004.

The company acquired online brokers Harrisdirect and BrownCo in 2005.


Medical, Dental and Vision Coverage
Short-term and Long-Term Disability
Basic Life Insurance
- $20,000 term life and accidental death and dismemberment insurance at no cost to you.
Voluntary Life - You may purchase optional life insurance coverage for a maximum amount of $500K. Coverage for yourself is purchased in increments of 1x, 2x, 3x, 4x or 5x annual salary. Coverage for your spouse can be up to 50% of your elected coverage in the amounts of $10k, $25k, $50k, $125k and $250k. Coverage for your child(ren), one or more, is $5k or $10k. Optional life insurance coverage for yourself in amounts greater than $300k and amounts greater than $25k for your spouse are subject to approval by our insurance carrier and requires that you complete an Evidence of Insurability for Group Insurance.
Hyatt Legal Services - The legal plan gives you your own "attorney on retainer". The plan allows you to call a plan lawyer for quick advice. The plan covers both phone and office visit consultations.
Section 125 Cafeteria Benefits(Flexible Spending Accounts) - You may reduce your salary on a pre-tax basis to pay for up to $5,000 in annual child care expenses. You may also designate up to $4,000 in pre-tax deductions for payment of IRS approved medical expenses. In addition, you may also elect to have all Employee contributions toward medical, dental, and vision deducted from your pay on a pre-tax basis, thereby reducing your taxable income.
401(k) Plan - Effective on your date of hire, you are automatically enrolled to save for your retirement by contributing 3% of your pre-tax earnings to the 401(k) plan. You may contribute up to a maximum of $13,000 per calendar year. E*TRADE FINANCIAL will match employee contributions at 50% up to the first 5% of your contribution (up to a maximum of 2.5% contribution rate) immediately upon participation in the plan. The company match is 100% vested after 3 years of service.
Employee Stock Purchase Plan - This plan allows the Employee to contribute a percentage (1% to 10%) of their post tax base salary towards the purchase of company stock. The purchase price is based on 85% of the lower of the Fair Market Value prices on the entry date or the last trading day of the purchase period. In order to be eligible for participation, you must be employed with the company on the day before the first day of the purchase period.
Tuition Reimbursement - Employees may receive reimbursement for pre-approved college courses after the completion of the course(s) with an official grade report or certificate. The percentage of reimbursement will be based upon the grade received. Employees are eligible for this benefit following their 6th month of employment.
Licensing Training - Depending on your current job, you may be eligible for company sponsored training to take the Series 7 or other licensing exams.
Vacation and sick time - Regular, full-time Employees are eligible for 12 vacation days and 5 sick days annually. Regular part-time Employees are eligible for pro-rated hours. Employees are eligible to use vacation and sick hours after they have been accrued.
Paid Holidays - The Company observes certain state and national holidays on which the New York Stock Exchange is closed. These holidays are New Year's Day, Martin Luther King's Birthday, President's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day. Good Friday, as a holiday, is subject each year to a vote by the Board of Directors of New York Stock Exchange.

Updated January 23, 2015

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