There are newer employer reviews for Fidelity Investments

2 people found this helpful

Great if you have never worked anywhere else and do not plan on working anywhere else.

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Private Client Specialist in San Francisco, CA
Former Employee - Private Client Specialist in San Francisco, CA

I worked at Fidelity Investments full-time (more than a year)

Pros

GREAT for young people just out of college looking to get their feet wet in the Financial Services Industry. They give plenty of support to new and untrained/inexperienced employees.

Cons

If you have EVER worked outside the firm before joining, you will be extremely surprised at some of the cultural differences. You really have to drink the kool-aid and conform if you want to stay happy. Really nice people, yet the firm is in a distinct identity crisis about who/what they want to be. They can't seem to get passed the notion that if you want to have a "relationship" that means relationship, not buy our products (proprietary funds, managed accounts and annuities)

Advice to ManagementAdvice

If you want people to manage relationships, train them on how a relationship should be managed, not: Buy our Funds & Annuities though I have too many clients and not enough experience to actually answer relationship questions that I will push you off to someone else...

Doesn't Recommend
Neutral Outlook
Disapproves of CEO
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  1. Client Services Manager

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Fidelity Investments

    Pros

    Provided dynamic, continuous learning environment.

    Cons

    Did not always seem concerned with work/life balance.

    Recommends
    Approves of CEO
  2. Great in some areas, lacking in others

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - 529 College Planning Specialist in American Fork, UT
    Former Employee - 529 College Planning Specialist in American Fork, UT

    I worked at Fidelity Investments full-time (more than a year)

    Pros

    Overall good benefits package: medical, dental, retirement. Medical insurance tends to be on expensive side, but coverage was good as well. Retirement benefits are awesome once you actually vest and are eligible for a match.

    Cons

    Work environment was lacking. Vacation days (15/year) were okay, but definitely not enough to reward for the amount of work and stress for employees. Amount of sick days (6/year) was absolutely horrendous. A family of 4, like my own, could eat up that amount of time in a matter of months, and I didn't even try to abuse the system.

    The area most lacking was employee appreciation. They attempt to appreciate by focusing on some areas (i.e. generous retirement package, perq points, team competitions), but overall falls very short.

    The perq points are based on performance during quarterly competitions. I exceeded goals every competition, but received no more than equivalent of $60 each time. Those who didn't really try and wouldn't meet performance goals would still get about $40 each time.

    My team won about half of the site competitions among teams. We were a very good team. However, the rewards (usually a increase in budget based on head count) would get paid out months after the fact. When it actually did get paid out, for some reason we never seemed to have enough money to do anything fun anyway. Something was amiss in the entire process. Maybe it falls on our manager, maybe the site management. I don't know.

    In my 529 college planning specialty role, recently more and more tasks were being added to our plate. It was as if they were using 529 was "Fidelity Special Forces." We took on the Canadian Remediation in the summer of 2012, started backing up PAS with their overflow toward the end of 2012, and gradually took more and more general service overflow. When I arrived, 529 had a seasonal workload where it was very heavy during some times of the year, and a little lighter at other times. When I left, we were constantly "lit" (meaning calls waiting to get through to us). Most calls we received were general service or something other than 529 calls. The 529 customers were being neglected because we couldn't provide them service in time.

    The increased workload would have been fine by me if they would have done a few things:
    1. Inform us in advance of how, why, and when the workload is increasing.
    2. Provide an increase in compensation (or bonuses or something) since we were not originally hired to do the increased work.
    3. Hire more employees to do the peon work of general service. Since they worked us a lot of overtime, you would think that it wouldn't cost as much to hire another employee with a lower salary than to pay me at time-and-a-half with my higher salary.

    My last point of review on what was lacking at Fidelity is the career opportunities. Ultimately, EVERYONE needs to go the sales route to accomplish anything. All career paths on the service side reach dead-ends very quickly so employees are stuck with low salaries. My being a non-sales type of person, I realized very quickly that I needed to jump ship. Thankfully, I had the opportunity to take a job I had been wanting to do for a long time. I didn't even blink before I accepted the offer.

    Advice to ManagementAdvice

    Improve employee work-life balance
    Provide higher compensation in general, but especially for extra tasks taken on
    Increase workforce - don't work your current employees into the ground

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
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