Fidelity Investments

  www.fidelity.com
  www.fidelity.com

Fidelity Investments Reviews in Boston, MA

Updated October 17, 2014
Updated October 17, 2014
1,859 Reviews
3.7
1,859 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
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Abby Johnson
4 Ratings

Review Highlights

Pros
  • GOOD work-life balance: very rarely expected to work overtime (in 164 reviews)

  • Great Benefits, Employee friendly, but sometimes overkill with thousands of policies (in 203 reviews)


Cons
  • Company expects all dedication to work with little regard to work/life balance (in 51 reviews)

  • Lot of high level (senior management) politics played in a dirty manner (in 70 reviews)

More Highlights

359 Employee Reviews Back to all reviews

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  1.  

    Design contractor : easy work good pay, short-lived

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

    I worked at Fidelity Investments as a contractor (less than an year)

    Pros

    Employees (FT) are generally just 'nice' smart people. They were very welcoming. Parameters of projects were clear to me and upper management 'loved' and thought my concepts were 'great'. So it felt like a good fit for me: a huge corporation with a personal touch.

    Cons

    In my case, I was a "open-ended" senior design contractor. Anyone who has worked at a place like FI knows how many hoops one must jump through: credit check, fingerprinting, background check, drug screen- over the course of 2 weeks while waiting for clearance. After all that, I was given, decidedly simple work- waiting for more challenging projects- which never materialized. At interview, I was told that I would be given the opportunity to learn/increase my video edition skills.

    After 7 weeks, I was given sufficient clues such as: "Yes, so much work is coming in that we 'need to' hire a full-time designer, and two more (fresh-out-of-college) contractors soon!" I was never given the decency of a personal meeting to say I was being replaced by two lower-wage earners, or was I just 'let go'? I sent an email inquiring if there were more projects for me, and I was told to 'hang tight as more work may come up." After working June through end of August, and now being 'off' two months, I haven't heard a thing. Radio silence.

    Advice to ManagementAdvice

    Nice clues, but please give contractors the 'real story'. We're all adults and we can take it. I'd just like to have some closure and concrete information to give to future employers about my reason for leaving.

    Recommends
    Positive Outlook
    Approves of CEO
  2. 1 person found this helpful  

    Acceptable if you're out of ambition

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

    I have been working at Fidelity Investments full-time (more than an year)

    Pros

    If you're married with kids and a house, and you want to go home at 4:45PM every day, Fidelity is for you. I've never worked less anywhere else. When I've had visitors in on a Friday in the summer, and only 6 of 30 team members are in, they ask "where is everyone" and I have to explain that this is normal. Largely "Working From Home" is used more than it should.

    As far as ambitions go, Abby and Ned own the company. What they want goes. As such, you can expect fiats from on high and many people and divisions shuffling along, getting by. This is not a terrible thing, but you'll not find floors of teams rushing to "get it done" and invent the "next great thing" despite the corporate newsletters the champion such internal trends. Rather you'll find bureaucracy, process, and more process taking weeks to do something as simple as write a single line query. One fiat was all applications moving to Linux servers from Window servers. Why? Ned had met Bill Gates at a conference and decided he didn't like him, so we needed to get rid of Windows.

    Pay is slightly below market, but health benefits are good ($140 for top health plan), bonuses not bad, and the hours are great. Good training budget. OK vacation policy (15 days). Nice facilities.

    Cons

    Big Warning: Fidelity is divesting in Boston and New England. They are moving all the jobs they can to Raleigh (NC), Westlake (TX), Ireland, China and India. Every year more Boston teams get sacked and given the "chance" to move 2000mi or more, though usually only 10% take the offer. Be careful if you're not deeply entrenched in the front office, your days are likely numbered.

    Everyone keeps to themselves. Passing people in the hall, they stare at the floor. In the elevators you could hear a pin drop. Folks are not outgoing and I've seen many teams that sit 10 yards apart and don't know each other at all. This helps breed the internal silos and technical fiefdoms. If you behave gregariously, people will be surprised.

    Fidelity IT loves to talk about Agile, but we actually use FAM, the Fidelity Agile Methodology. During your interview, ask deep questions about how so called "Agile" teams work and you'll be in for a laugh. FAM is a broken application of Agile and little better than classic waterfall. If you've really learned Agile elsewhere, people are going to laugh at you your first few weeks here.

    If you're looking to grow rapidly in tech, look beyond Fidelity. Our systems are laughably behind the times, though our "architectural conferences" will swear they're cutting edge (i.e. IE8 anyone, Java 6, Tomcat 5?).

    Advice to ManagementAdvice

    You're the largest 401K manager in the US. You've got a great brand. Get your tech house in order and continue to lead and set a new standard in 401K experiences. Use the smart people you have and actually breed a true "innovation" culture rather than just speaking about it and running on 2004 tech. Don't hold various town halls talking about how you're helping all your engineers grow, and create "building your career" websites, all the while sacking more teams every quarter. There is little reason to "build your career" when it will soon likely be moved thousands of miles away. This sacks morale.

    Also, do away with Working From Home, people abuse it too much.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  3.  

    Used to be better

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

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

    Pros

    Great work/life balance. Great co-workers. There are moments where you can learn a lot, and working in a global organization has great benefits. Bonuses are really good, along with profit sharing. Shares are harder to come by, which is a shame.

    Cons

    Very political organization. The leadership of the technology organization is more concerned about their own personal gain instead of actual technology, and make decisions at the expense of actual development. Too many roles, hard to get anything done in a reasonable amount of time.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
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  5.  

    Good benefits and compensation; sweatshop environment; they own you

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

    I worked at Fidelity Investments full-time

    Pros

    Excellent compensation, benefits and bonus.

    Cons

    Company has you tethered 24/7 with remote and mobile access technology; highly political environment; tough to get ahead; co-workers compete with one another; company only values highly aggressive associates without regard to whether they are of good character; people always looking over their shoulder in fear of losing their well-paying positions; not a team-oriented environment and not for the faint of heart! 40-hour workweek uncommon. High burnout employer.

    Advice to ManagementAdvice

    Ease up on the demands of individual employees and hire more people. Everyone will benefit. Your associates won't be so stressed and can actually take advantage of all the great benefits you offer (fitness centers, etc.) and achieve a more healthy work-life balance. Burnout will be minimized and your associates will be more productive. Plus, you'll be able to bring new associates onboard. A win-win.

    Doesn't Recommend
    No opinion of CEO
  6. 2 people found this helpful  

    IT Application Support Engineer

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

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

    Pros

    Great Technology, maybe the best. Great benefits.

    Cons

    None None None None None

    Recommends
    Positive Outlook
    Approves of CEO
  7. 1 person found this helpful  

    Progressive promotions as knowledge grew and flourished from my entry level position and beyond

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

    I have been working at Fidelity Investments (more than 5 years)

    Pros

    Best benefits I have seen and researched throughout the industry. Work/life balance is encouraged, and the programs provided by the firm are abundant.

    Cons

    The promotion opportunities are not direct, they promote more of a 'lattice' structure. Best advice is to be involved in projects, extra tasks, etc. this opened several more doors and expedited my career with Fidelity. Some of the leadership is quite weak and the politics can outweigh the actual business at times, unfortunately.

    Advice to ManagementAdvice

    Compensation is not the greatest, though the benefits included are comparable to others in the industry. The bonus' and promotions are more so based on tenure and not performance. I have as well as several of my colleagues have experienced this across the firm in a variety of business units. This was very concerning as it led me (among others) to look outside Fidelity for upward momentum. The only reason I had stayed with Fidelity is a few key leaders knowing my potential and wanting to keep me in the firm. I urge leadership to question why the employees are looking elsewhere and potentially try and keep them versus letting the employee go without question.

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    Great place to work but low efficiency

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

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

    Pros

    - Great benefit: bonus, internal stock, profit sharing, 401k match
    - Nice people to work with
    - Good technologies
    - work in Financial industry
    - good company culture

    Cons

    - Hardworking but low efficiency, spent a lot of time to get other department to do the work that we could have otherwise done by ourself much better and faster.

    Advice to ManagementAdvice

    The company has strong specialty technology teams such as database team, web service team, etc. which provide great expert level help, but on the other side, their staffing bottleneck and regulations make it very hard to get jobs done.

    Recommends
    Neutral Outlook
    Approves of CEO
  9.  

    Pros and Cons

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

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

    Pros

    Great managers that are supportive, experienced, and usually know a lot about the company.
    Benefits are very good compared to other are employers.
    Good work/life balance.

    Cons

    Company culture is bureaucratic and closed to change. Company organization and size makes terminating problem and or underperforming employees difficult, which negatively affects company morale. In recent years layoffs and site moves have also decreased morale and employee confidence.

    Advice to ManagementAdvice

    Focus more on long-term growth rather than short-term fixes.

    Recommends
    Negative Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    Fidelity Investments is a really great place to work!

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

    I have been working at Fidelity Investments full-time (less than an year)

    Pros

    The people are very nice and supportive, especially my manager. I had a recent death in my family, and everyone was beyond supportive, which meant a lot. You may expect an investment company to be stuffy and old school, but Fidelity is quite the opposite! The perks and benefits are great, as well as the pay.

    Cons

    Coming from a creative background (art and theater), being in a very corporate environment can be sometimes challenging for a right brained person.

    Advice to ManagementAdvice

    Though this is an old respected company with a sound reputation, make sure to also occasionally make room for new modern ideas.

    Recommends
    Positive Outlook
    No opinion of CEO
  11.  

    Great company.

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

    I have been working at Fidelity Investments full-time (more than 8 years)

    Pros

    Great colleagues and work and environment.

    Cons

    I can't think of any cons at all. It is a great place to work.

    Advice to ManagementAdvice

    Keep up the good work.

    Recommends
    Approves of CEO

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