Fidelity Investments

  www.fidelity.com
  www.fidelity.com

Fidelity Investments Reviews

Updated December 24, 2014
Updated December 24, 2014
1,941 Reviews
3.6
1,941 Reviews
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Fidelity Investments CEO Abby Johnson
Abby Johnson
54 Ratings

Review Highlights

Pros
  • Good work life balance with encouraging co-workers for the most part (in 166 reviews)

  • Great Benefits, Employee friendly, but sometimes overkill with thousands of policies (in 210 reviews)


Cons
  • Company expects all dedication to work with little regard to work/life balance (in 52 reviews)

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

More Highlights

Employee Reviews

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  1.  

    Not bad - great 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 full-time (more than 5 years)

    Pros

    Good work ethic
    Good training
    Great beneits, retirement, company match

    Cons

    No room for advancement
    Meritocracy

    Advice to ManagementAdvice

    none -

    Recommends
    Neutral Outlook
  2. 4 people found this helpful  

    Milk Them For All You Can

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President/Senior Account Executive
    Former Employee - Vice President/Senior Account Executive

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

    Pros

    Good place to build your career in financial services because of the training, structure, pay, and benefits. Good brand recognition from customers, but this can turn into a negative if you lack humility. Most reps are not as good as you think. The green machine is doing a lot of the heavy lifting, but those who are good at building value and relationships can transfer those skills to an RIA and do really well.

    Cons

    - Although micro-management is mentioned in almost every review, I think it stems from not trusting your veteran representatives. Fidelity feels like they have to control people from the top, having branch managers regurgitate sentiments from the top. This also leads to *bleep* rolling downhill. Some managers did prove themselves as good salespeople, but eventually have to drink the Kool-Aid or they won't last long. Either that or they give up because they can't change the system. Other managers were opportunists who rose through the ranks quickly, moving fast enough before people can realize they aren't as good as they appeared.

    - Compensation: Yes, you can make very good money here, but if you're really good, you can make way more outside. Compensation is figured out ahead of time and they reverse-engineer the compensation plan to get AE's back to target comp. The last couple of years, they've reduced some of the pay, like basis points on new flows, coinciding with the S&P at historical highs. Oddly enough, they had a reduction in force in 2009 because they based payroll on the S&P and had to cut people. So when the market's down, you're screwed, and when the market's up, you're also screwed. Ultimately, you can't keep lying about AE/SAEs being in relationship roles when your compensation is still based on selling products. And this relationship model is 5 years old.

    Advice to ManagementAdvice

    Milk them for all you can.. this statement is advice for reps to take everything you can from Fidelity before you move on to bigger/better things. It certainly is what management is trying to do to you and clients. Max out your benefits, get your CFP on their dime, get vested, then leave! Every time there's turnover, the quality of reps degrades but management doesn't care until they lose more assets than they bring in. The industry has been evolving into the RIA model and Fidelity has tried to follow, but they can't change fast enough because too many managers are interested in self-preservation.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3. 1 person found this helpful  

    It was ok. Good place to do time but better place to leave.

    • 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

    Paid well. Very good benefits. Top of the industry so good learning opps and street cred.

    Cons

    Limited creative thinking and ability to make a difference. Claim they want to be high tech leaders but wait for leadership to tell them what to do.

    Advice to ManagementAdvice

    It's not your daddy's company anymore...

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5. 1 person found this helpful  

    Decent compensation but all advancement is purely political.

    • 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

    Compensation is comparable to other large financial services companies. Benefits used to be among the best in the industry but that has fallen in recent years.

    Cons

    In my department advancement, whether in the form of formal promotions or stretch assignments, go only to those with contacts at higher levels. Midlevel managers routinely tell subordinates that they believe the subordinates deserve advancement but that none is available unless the subordinate can figure out a way for senior managers to take notice. Senior managers don't believe this is a problem because they see promotions going to the people they know are good. They are oblivious to how many good people work there that they don't know. That is because people rise to the top at Fidelity by managing up, not managing down.

    There are two types of senior managers. One is the Fidelity Lifer who understands how to play the game. Don't try to change anything, don't take any chances, figure out how to not get your finger prints on anything that might fail and know that after 20 years you can retire extremely wealthy. The other is the short timer who comes in from another company expecting to get things done. They take chances, they get involved in new projects that take the company in new directions and they are the first to be blamed when things fail. These people rarely last long.

    Advice to ManagementAdvice

    Fidelity used to be a special place to work. Now it is just another large company. Advancement has always been based on who you know, not what you know. If it wasn't Abby would be merely a midlevel manager.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 1 person found this helpful  

    Used to be good place

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Database Administrator in Raleigh, NC
    Former Employee - Senior Database Administrator in Raleigh, NC

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

    Pros

    Great benefits and work culture .

    Cons

    Too much Bureaucracy and Process which is killing work life balance.

    Advice to ManagementAdvice

    Treat all employees equally and dont let politics prevail.

    Recommends
    Positive Outlook
    No opinion of CEO
  7. 1 person found this helpful  

    Good place to start, but do not stay here for long.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Representative in Westlake, TX
    Current Employee - Financial Representative in Westlake, TX

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

    Pros

    You have the potential to learn a lot about the business very quickly

    Cons

    There is almost no upward job mobility, and the pay is very low for the industry. There is also a complete lack of job security.

    Recommends
    Positive Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    IT Product Mgr

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

    I have been working at Fidelity Investments as a contractor (less than an year)

    Pros

    Great people and good communication

    Cons

    Some Mgmt has been there for a while and think they are untouchable.

    Advice to ManagementAdvice

    Ask your people for ideas .. more one on one's with tasks and project feedback !

    Recommends
    Neutral Outlook
    Approves of CEO
  9. 1 person found this helpful  

    Frustaing place to work for engineers

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

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

    Pros

    Good benefits, plenty of opportunity to work in different roles and a good place start off / learn about the financial industry.

    Cons

    The company is organized and run like a bank which has a negative impact on the technology divisions. There are multiple layers of management who don't really know anything about technology. Unfortunately they get to make the important decisions which leads to expensive and wasteful engineering practices. Good engineers typically get frustrated with all the politics and beauracracy and leave after a few years.

    Advice to ManagementAdvice

    Try get more technical people into management / decision making roles.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10.  

    Not Horrible- Not Great

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investment Solutions Representative in Denver, CO
    Former Employee - Investment Solutions Representative in Denver, CO

    I worked at Fidelity Investments

    Pros

    They pay for your 7 and 63 right off the bat. Young corporate culture, lots of room for growth

    Cons

    Room for growth limited to positions in the call center. They will talk about other areas career-wise but those positions are extremely rare and very taboo to get into i.e. Branch, research, rotational programs, marketing etc. Hard time retaining talent because of pay scale and willingness to pay external hires much more than the people they hire in initially. Entry-level service managers come off arrogant and micro manage to the point the job is unbearable. Boast about retirement benefits when in reality you do not see profit sharing nor match for the first full year and none of it vests immediately after that. Job itself incredibly repetitive and not empowering for someone with a college degree.

    Advice to ManagementAdvice

    Make the job realistic in the job description- it's a call center. Pay more to keep talent. Be a real person and stop "drinking the Koolaid" everyone sees through that.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  11. 2 people found this helpful  

    Little opportunity for advancement

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - 401k in Raleigh, NC
    Current Employee - 401k in Raleigh, NC

    I have been working at Fidelity Investments

    Pros

    Good benefits and this is an ethical company

    Cons

    Being young is essential for advancement here.

    Advice to ManagementAdvice

    Focus on the assets that older employees bring to the table.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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