Fidelity Investments - Mixed bag - very political | Glassdoor
There are newer employer reviews for Fidelity Investments
There are newer employer reviews for Fidelity Investments

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Helpful (1)

"Mixed bag - very political"

StarStarStarStarStar
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Senior QA Engineer in Research Triangle Park, NC
Former Employee - Senior QA Engineer in Research Triangle Park, NC
Doesn't Recommend
Negative Outlook
Disapproves of CEO

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

Pros

If you are lucky enough to land with a secure, mature manager you will have many opportunities to exceed at your work. Confident managers excel at training, advancing, promoting their subordinates into better positions. They advise, challenge, critique, encourage and correct your work and presentations in a productive, positive manner. They look for opportunities for their subordinates.

Cons

If you are unlucky and land on one of the insecure manager teams you will go nowhere. Expect no directions, no clarifications, no assistance with projects and tasks assigned to you. Expect no contact from these managers until your yearly review, then expect the worst possible annual review where you will be blamed for all of this manager's short comings. You can write a rebuttal to the BS in your review, but that rebuttal will never get looked at and you're left with a tarnished reputation, no raise, lousy bonus but - gosh - at that moment, your manager sure looks happy!

Advice to Management

Quit reorganizing your department and reporting structures. You have effectively killed all communications on all your projects. How can you expect projects to complete on time, at budget or under, if every 9 months or less you reorganize your departments so that half the project players get moved off the projects, being replaced by newbies that know nothing and leaving you with broken communication lines in every critical direction for the project. This is usually done more than once on any given project, then because of delays those projects get dropped effectively throwing away all the good work done by too many disconnected folk.

Other Employee Reviews for Fidelity Investments

  1. Helpful (2)

    "Great place to start a career in finance, SLC is not a great place long-term for high level talent"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Representative in Salt Lake City, UT
    Current Employee - Financial Services Representative in Salt Lake City, UT
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Fidelity Investments full-time (More than a year)

    Pros

    - Excellent training program to obtain knowledge of the industry and financial licenses
    - Good company culture with mid-level management that cares about your work/life balance
    - Industry leading benefits package (health, dental, 401k with 7% match and 10% profit sharing bonus - essentially a 17% match if you contribute 7% to your 401k, tuition reimbursement is $10,000, Company covers most or all of the cost of mass transit passes, etc.)

    Cons

    - Benefit package is great at the cost of low base pay compared to industry competitors.
    - If you get an MBA or advanced degree, there are virtually no opportunities in SLC to take advantage of that. The only high paying career opportunities are in phone sales and management. However management has virtually no turnover which is because of the great situation they have (Many have +10 year tenure), but this is bad if you want to try to get into management - be prepared to wait years for that opportunity or be forced to find an opportunity somewhere else.
    - For those in SLC who want to move elsewhere in the country most of the opportunities are only for representatives who want to go to branches, if you want to go to a higher value added position in Boston or any other location good luck if you don't have connections or years of experience. Getting an advanced degree while working means nothing if you are trying to get in the door outside of their conventional channel of campus recruiting at mostly Ivy league or east coast universities.

    Advice to Management

    - If putting thousands into reimbursing the cost of tuition for those employees getting advanced degrees, work with them to identify a career path and opportunities to actually make use of it, otherwise you will continue to lose them to competitors who do offer such opportunities.


  2. Helpful (6)

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

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Client Services in Covington, KY
    Former Employee - Client Services in Covington, KY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Fidelity Investments 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 Management

    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.

There are newer employer reviews for Fidelity Investments
There are newer employer reviews for Fidelity Investments

See Most Recent

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