There are newer employer reviews for Fidelity Investments
There are newer employer reviews for Fidelity Investments

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Helpful (1)

Great company to settle down and retire from; not best for earlier in your career if you wish to learn.

  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Senior Analyst in Merrimack, NH
Current Employee - Senior Analyst in Merrimack, NH

I have been working at Fidelity Investments full-time (More than 5 years)

Recommends
Positive Outlook
Approves of CEO
Recommends
Positive Outlook
Approves of CEO

Pros

Great perks. In terms of bonus, profit sharing, 401(k) match, health and insurance benefits. If you are good management usually goes at length to keep you happy and retain you. Does respect work life balance.

Cons

Bit of bureaucracy and personal interests make environment little rigid in terms of work and future roadmaps. Since a big part of salaries ( specially from senior levels) are tied to bonuses, focus changes from overall team goal to personal goals and marketing, making environment unpleasant. If you are a technical personal specially earlier in your career and want to grow technically, this might not be the right place to start.

Advice to Management

Continue what you are doing to retain good employees. Please reduce bureaucracy and come up with better ways to retain your technical staff.

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  1. Helpful (6)

    Place is a circus act and real investors should run away, fast!

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Account Executive in Atlanta, GA
    Former Employee - Senior Account Executive in Atlanta, GA

    I worked at Fidelity Investments full-time (More than 3 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Great name brand that people seem to trust, for now. Free coffee. Well, that's about it folks.

    Cons

    The mangers at the branch could care less about the clients and their assets. It is all about what the account executives are doing with the clients money. Get that money invested at all costs. Stick 'em in mutual funds, annuities or PAS managed program so they can charge them fees. Fidelity investors do not realize they are being duped by purchasing their no load funds. Why? Because their funds tend to have higher turnover ratios that in turn allow their fund managers to perform trades. This equates to significant trading costs that are not disclosable under current law. Investors only see the fund expenses and forget the hidden fees. Do you really think they are going to give good advixe and not be charging you anything people? Really? Furthermore, they treat their superstar higjly experienced people the same as the ones they are getting rid of. It's all about brown nosing at that place. Quality employees leave within 24 months. The bad ones stay because they cannot get hired anywhere else. Their micro management, cukture of fear and intimidation, and peanuts for pay make this place highly avoided by the top 10% of financial advisors from other firms.

    Advice to Management

    Stop promoting morons due to their brown nosing, tenure, or incompetence. If you are that scared to hire or promote quality people because you fear they will show you up, well, they will anyway. How? The way several of us in the top 25 national rank did when we all left you while scrathed your heads in disbelief. Reason? We can make more income, not jeopardize our integrty to the client by cutting their grass rather than working for this organization that's hell bent on seeing how many top quality people they can hire for the cheapest dollar only to watch them succedd then resign while on top! Take your head out of your butts and remove your ego or else when this market turns you will be left with the bottom 5% of morons in which you deserve. You people absolutely suck!


  2. Helpful (11)

    Filled with people who have been working there too long and are afraid to ever work anywhere else.

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

    I worked at Fidelity Investments full-time (More than 8 years)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    Great 401k matching, year-end bonus & shares. Good health benefits. Some quality people still work there.

    Cons

    Comparatively low salary, unless you come in at a certain level. I was at Fidelity for several years -- in the beginning I was excited to be there, and I got great reviews and I moved up, and I did meet some really good people, so I thought there was a future there for me. But after seeing behind the curtain and realizing every part of the business was messed up, I jumped ship when the opportunity presented itself. In every business unit I was in, I saw a shocking lack of leadership. Projects are started and stopped in a haphazard, wasteful way based on whichever direction the political wind is blowing. Projects take years to complete when they shouldn't, and sometimes things launch and then they are immediately discarded. Or subpar work -- the standards, when you are talking about technology or communications or design, are way too low for a company of this size and reputation -- is allowed to launch and is weirdly celebrated. The website is terrible, and the technology at Fidelity is frighteningly behind, yet they spend billions on it every year. Many VPs (and there are oh-so-many) are afraid to say what they think, so naturally everyone underneath them is. People who move slowly and don't make waves are rewarded. People who suggest new ways to approach things are often viewed as threatening by people who have been sitting comfortably in their roosts for too long. Very little actual work gets done and I think Fidelity customers would be shocked to see how much money is wasted by this company on people who are paid way too much for producing way too little by the end of the year. Typically you'll see a business unit with a couple of overworked worker bees and several VPs who go to a lot of meetings but don't do much except talk at each other in meetings and try to figure out how to work the politics. HR is obsessed with the upper echelon of management, and could care less about the employees. They'll drive themselves crazy over how some memo looks to Executive A or all the SVPs and meanwhile they put very little forethought into a relocation strategy that affects thousands of employees and will bite them in the long run. For example, how many future genius fixed income portfolio managers will sign up to work in Merrimack, New Hampshire when they can go to the competitors in New York or London? And how many dollars is this firm saving by outsourcing HTML work to India when the work takes three times as long to be completed because every single piece of it must be explained, checked, and then checked and requested three more times until it is correct (and each round takes 2 weeks)? The word on the street is with the up-and-coming leadership regime, it's all about the yes-men, and there's no heart there. Some of the old benefits have already disappeared, and most of the people in the know expect that when the Chairman retires, his successor wants to get rid of things like the long-loved employee shares. Believe me, this will happen. This company loves layers, and insecure management lets incompetence reign in those layers -- especially directors and VPs -- because they can manipulate those employees or because they're too afraid to fire people who are in over their heads. Management and HR love to market to themselves internally. Yet Fidelity will continue to make money in spite of this because it has reached a certain size in the marketplace. When I left, I took my money with me because after seeing how the sausage is made, this really isn't the best place to put your money. (Unless you are a high net-worth customer, they push you into the Freedom Funds, which are consistent underperformers.) It's sad, because from what I understand from people who were there for a really long time, it used to be a really great company. This sentiment is heard around the firm, but I know a lot of people are afraid to leave because they're shackled to the benefits. Life is short -- there are a lot of companies out there. If you're not overly committed to your kids' private schools or college tuitions, get the heck out while you still can. There is a world outside Fidelity.

    Advice to Management

    I was at Fidelity for more than 8 years. I've seen enough to know that management there only listens to themselves, so it's pointless to give them advice.


There are newer employer reviews for Fidelity Investments
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