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2 people found this helpful  

Bi-polar

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - IT Director  in  Boston, MA
Current Employee - IT Director in Boston, MA

I have been working at Fidelity Investments full-time for more than 3 years

Pros

Decent salary. Huge investment in IT. Able to move sideways to new jobs. Willing to try new things.

Cons

Shuffle, shuffle, shuffle. Lots of people movement which has to be expensive. Cutting a lot of IT jobs in Boston and moving to TX, NC or overseas. sometimes there is too much willingness to try new things; there are 4 tools for everything, little is integrated, and standardization is not often found. Certain groups have lots of politics. Not a lot of upward mobility.

Advice to ManagementAdvice

Stop the shuffle; I'm sure you think this is an advantage, but it causes upheaval and costs a fortune. Pick a couple tools; stick with them for more than 4 months. Morale is crashing, at least in IT, because the corp direction, while clear, clearly says we don't care about the IT people in New England.

Doesn't Recommend
Neutral Outlook
Disapproves of CEO

1822 Other Employee Reviews for Fidelity Investments (View Most Recent)

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  1. 1 person found this helpful  

    Corrupted and Greedy - Culture is gone

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Services Representative  in  Jersey City, NJ
    Former Employee - Financial Services Representative in Jersey City, NJ

    I worked at Fidelity Investments full-time for more than 8 years

    Pros

    Good Branding for Resume; Diverse Product Range; Well Known Company; Decent technology Implementation to keep up with the current trends.

    Cons

    Corrupt Managment; Cost Cutting at expense of Employees; HR does not hire quality personnel; Cheap wins always over value; Minimum investment into employee development; Inexpereinced managment without knowledge of industry or expereince managing employees

    Advice to ManagementAdvice

    The managment is corrupt with politics of who you know, alethough that might be in a lot of places the Fidelity situation is much more damaging to people who put in most of the work and have no time for politics. Unexpereinced menagment is wasting talent at an enourmous rate with best people leaving within 2 years once they realize they won't be able to grow their career. Senior managment in place are people who pass their responsibility onto ones that can do it cheap and quick. There are lots of situations where a husband who is a SVP puts his wife in charge at a different location without any expereince. Many situations similar to that across the organization.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  2.  

    Negative Culture and Values

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Director  in  Boston, MA
    Current Employee - Director in Boston, MA

    I have been working at Fidelity Investments full-time for more than 10 years

    Pros

    Decent Pay and Good Benefits. A general willingness to invest in business development and IT. Modern and updated facilities with decent amenities. Tight security both physically and on the customer data side.

    Cons

    Does not pay for performance or set performance expectations well. There are unwritten or absent expectations regarding "success" in job roles; performance is not necessarily judged against what your assignments are and how you execute them.

    For example, recently I had achieved all of my performance goals for the review period, such as being ahead of project completion schedules, under budget and delivered targeted business scope. Two weeks prior to the performance review the performance assessment criteria was changed to "measure" me against targets that I had no chance to meet since they were completely different than the job assignments. The manager conducting the review admitted that the assessment criteria was "new" and "unfair" and the lack of communication was deliberate in order to send a "message" to the organization.

    After over a decade of service with eighty percent of my performance reviews being "above average" under the various grading scales (and never having had a poor review before), it was a very strange turn of events.

    It appears as though it may be a targeted "reduction in force" or "desired attrition" by targeting people at certain pay and/or years of service, since I was only one of several colleagues who held similar positions that expressed a very similar situation.

    Rewards are more and more concentrated at the very top level, with the middle layer becoming hollow and the entry level positions are subject to RIF's regularly.

    Exceptionally poor planning in just about every business unit, and the company as a whole. A general inability to keep focus.

    Advice to ManagementAdvice

    Improve the mutual fund performance and gain back market share.

    Go public or sell to another public company, since the cultural and structural problems are not going to be solved internally with the current management structure and ownership.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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