IT is treated as an expense, not as an investment. - Principal Software Engineer Fidelity Investments Employee Review

There are also a lot of very lazy people working here who have adopted a "cover my butt" attitude. Taking risks and initiative is actively discouraged by multiple layers of middle management who are afraid to be on the "wrong side" of a senior manager, so the safe-but-inadequate decision is preferred over a better solution which entails some risk. Too much paper-pushing and red tape in getting things done. HR & Management like to crow about paying "industry average" salaries, which to me seems like a way to guarantee you'll only retain "industry average" talent.