Fidelity Investments Institutional Services

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  advisor.fidelity.com

Fidelity Investments Institutional Services Reviews

Updated August 19, 2014
Updated August 19, 2014
37 Reviews
3.2
37 Reviews
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Fidelity Investments Institutional Services President Peter Cieszko
Peter Cieszko
11 Ratings

Employee Reviews

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  1.  

    Privately-held company offers major benefits...

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

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

    Pros

    Smart, driven employees. Everything isn't governed by quarterly earnings like most investment firms. Leader in almost every space it operates in. Lots of opportunities to move laterally, explore other career paths. Multi-year phantom stock grants create super sticky employees. Great internal training and development programs.

    Cons

    Competition can be cut-throat at times, advancement (in responsibility and earning power) can feel overly orchestrated and prolonged. Longevity of some employees can create inertia within middle management.

    Advice to ManagementAdvice

    Keep your employees in the loop on strategy and direction, even the youngest and least experienced workers can make better decisions when they understand how their roles fit (or can be expanded) within the context of a larger business or initiative. Spend more time communicating the difference and value of remaining a privately-held company.

    Recommends
    No opinion of CEO
  2.  

    FIis reliance hiring ffriends and family made it a very cliquish place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - 401k Plan Phone Representative in Covington, KY
    Former Employee - 401k Plan Phone Representative in Covington, KY

    I worked at Fidelity Investments Institutional Services full-time (more than 5 years)

    Pros

    Fidelity investments is a very generous employer.

    Cons

    FIIS management preferred recent college grads who were living in their parents basement.Any employee who was over 35 and did not suck up to management was treated like a leper.

    Advice to ManagementAdvice

    Everyone makes mistakes. If you have an employee who has never been charged with an error is either passing the buck on anything they are unfamiliar with or gaming the system.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  3.  

    Fantastic, everyones very kind and hard working. Food in the cafeteria is great and reasonably priced. Well managed.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Intern in Smithfield, RI
    Current Employee - Intern in Smithfield, RI

    I have been working at Fidelity Investments Institutional Services part-time (less than an year)

    Pros

    People as well as the opportunities to change roles within the company. Everyone here seems to work hard and their are few shortfalls with the benefits that we receive. It has personally led me to grow as an individual as well as gain valuable experience in the financial services industries. I personally feel lucky that I had the opportunity to work at such a wonderful company and hope to continue my career here for years to come.

    Cons

    Can be stressful with the workload, half the time it seems like your in meetings receiving work than you are actually doing work. Will have to work late hours a lot to make up for the work you could not complete during the day and sometimes you are working 60 hour weeks to keep up with the demand. It is manageable but it can lead to stress, less sleep and worrying. The paycheck does make up for this however as they are a company that does pay pretty well.

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    Decent company to work for. Be wary of restructuring

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

    I worked at Fidelity Investments Institutional Services full-time (more than an year)

    Pros

    Co-workers are knowledgable and competent. Lots of resources for learning and job development. Technology is kept decently up to date.

    Cons

    Not much interaction between departments. Management can be rigid. Constantly restructuring.

    Recommends
    Neutral Outlook
    No opinion of CEO
  6.  

    Workload is tough

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Fidelity Investments Institutional Services

    Pros

    Good people, good benefits, generous 401k

    Cons

    Metrics seem to be off, workload is often tough to keep up with

  7.  

    Time for the C-Level Execs to Go

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

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

    Pros

    Inexpensive living is available in Kentucky just miles away. Lot's of opportunities to give back to the community. Easy commute. Good churches nearby.

    Cons

    The highest level of management is not on top of the game. In this changing economy we need people with real experience, people from the trenches, people who know our clients.

    Advice to ManagementAdvice

    Hire from within. There are good managers that could be better executives.

    Recommends
    Negative Outlook
    Disapproves of CEO
  8. 3 people found this helpful  

    Fidelity no longer the company it used to be...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Client Services in Covington, KY
    Former Employee - Client Services in Covington, KY

    I worked at Fidelity Investments Institutional Services full-time (more than 10 years)

    Pros

    Flexibility to work from home. Salary and benefits better than average but Fidelity has made many changes to reduce these in recent years (i.e. elimination of pension plan; change in merit and bonus review program; move to high deductible medical plan).

    Cons

    Fidelity is a sweatshop. If you job involves client services, you find yourself working on vacation and holidays with no appreciation or reward. Fidelity has been doing consistent reductions in force over the last several years so less employees do more work. The company also recycles the same managers year after year which do nothing but provide lip service to upper management. The old boys club rules at Fidelity. If you are part of the club you are in. However, if you are honest and speak the truth, you are out. Senior management does not want to hear the truth and doesn't care about what the rank and file employees want or need or for that matter what the clients need. On the institutional side of the business, what is best for the client is what is in the best interest of Fidelity.
    Client Boards are just ways for senior management to goes to posh hotels/locations to schmooze with clients and give them lip service. Recent changes in the merit review process results in most employees being rated as average. This review process is a bell curve so only a handful are rated as excellent and requires that some employees fall into the need to improve category. This certainly makes it easy to determine who is out for the continual reductions in force. Finally, if you manage clients beware that if that client leaves, the buck stops with you. Even if the decision is out of your control (i.e. senior management won't budge on pricing or the client is bought by another company that is not with Fidelity) your manager will hold you accountable and your job will be on the line.

    Advice to ManagementAdvice

    I would say to take the time and energy to really hear what the rank and file employees want and need but that would be assuming management cares about this. They don't. Management only wants to hear what it wants to hear and no employee satisfaction survey will provide them the true answers as the vast majority of employees do not trust that it is truly anonymous. This has created a completely disfunctional culture.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  9.  

    Great experience, didn't think I'd ever leave. I was part of a reduction in work force. Great place to start your career

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Director in Smithfield, RI
    Current Employee - Director in Smithfield, RI

    I have been working at Fidelity Investments Institutional Services

    Pros

    Fair salary and bonus program. If you did well and proved yourself you were compensated very well. Great opportunities to grow your career, plenty of opportunity for upward or lateral movement. Advancement was supported by Mgt

    Cons

    Work life balance was a little tough, depending on the area you worked.. Not a 9-5 company.

    Recommends
    No opinion of CEO
  10.  

    Great company to settle down.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Principal Software Engineer in Cumberland, RI
    Current Employee - Principal Software Engineer in Cumberland, RI

    I have been working at Fidelity Investments Institutional Services

    Pros

    Cool working environment. Independence , flexibility and benifts

    Cons

    Limited technology exposure, lengthy and time consuming processes.

    Advice to ManagementAdvice

    None.

    Recommends
    No opinion of CEO
  11.  

    Ok place, great benefits but lots of politics

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Senior Software Engineer in Smithfield, RI
    Current Employee - Senior Software Engineer in Smithfield, RI

    I have been working at Fidelity Investments Institutional Services

    Pros

    1) Great Benefits
    2) Ability to move within the organization
    3) Great pay if you negotiate it upfront .
    4) Good work life balance in some groups

    Cons

    1) Lot of politics
    2) Frequent re-organizations and changes within the company. No stability in senior management.
    3) New hires can be hired at much higher salaries.A person hired at a lower level could have much higher salary than yours.
    4) Work life balance can be bad in some groups.
    5) Lots of employees in IT are not proficient in their fields.

    Advice to ManagementAdvice

    Get some stability in Senior Management. Stop continuous reorganization and changes.it is bad for employee morale.Btw, Peter Cieszko is long gone . This is the third time in as 5 years that the President has changed.

    Approves of CEO

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