Fidelity Investments Reviews | Glassdoor

Fidelity Investments Reviews

Updated May 24, 2017
4,253 reviews

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Full-time Part-time

3.8
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Fidelity Investments CEO Abby Johnson
Abby Johnson
1,302 Ratings

4,253 Employee Reviews

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  1. Featured Review

    Helpful (26)

    "The Green Machine"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Client Service and Relationship Manager in Boston, MA
    Former Employee - Client Service and Relationship Manager in Boston, MA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Fidelity Investments (More than a year)

    Pros

    Great company with lots of opportunity for advancement and career changes with god benefits, and good pay. I worked at the company for over 10 years and learned a lot about retail and B2B investments. Have a few FINRA licenses (24,65, 63, 7, 31, and Insurance) and was working towards my CFP that was supported and sponsored. There are also lots of internal and OTJ trainings. Plenty of great people and some pretty awesome financial industry leaders. It's a privately owned company so if they want to pursue something they don't have to get the stock holder's buy in and they allow the employees to provide input on a lot of the process and employee engagement improvements that are currently in place. Overall it's a very dynamic culture constantly changing.

    Cons

    Super lager company so you could feel like just another worker and that your voice doesn't count. At times the hiring process when moving between roles can be a bit monotonous (in that it's a hurry up to wait months situation). Overall it's a very dynamic culture and constantly changing so if change is not what you like this probably isn't for you.

    Advice to Management

    Keep up the good work, continue to involve the employee and try and be more transparent with future plans as well as potential institutional clients


  2. Helpful (2)

    "Good employee burnout workplace."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Retirement Specialist in Merrimack, NH
    Former Employee - Retirement Specialist in Merrimack, NH
    Doesn't Recommend
    No opinion of CEO

    Pros

    Fidelity Investment Institutional Services offers an opportunity to grow in a variety of financial positions. Their are tremendous opportunities to advance if your willing to be part of the traditional "boys club". Yes, this club is still alive and well at Fidelity. If you are fortunate, to click with the right group they will ensure your advancement. However the opposite is also true. If you're willing to play the game, then you can gain much success at Fidelity. This is truly one place where who you know is truly important. Hard work is relative to knowing the right people. They will take care of you. But if you speak up, beware.

    Cons

    Fidelity Investment Institutional Services handles employer retirement plans. They have the potential to affect the lives of so many customers whether they are just starting their first 401K plan or retiring from the work force. Today when the financial lives of so many individuals are so uncertain, the work of the retirement specialist is immensely important. What they say or don't say can have profound consequences. This is a great opportunity for individuals with great fiduciary responsibility. However, it is unfortunate that the advancement egos of so many managers suppress this responsibility of the retirement specialist. If you are fortunate to find a manager that truly buys into the fiduciary responsibility of their role, then you will gain satisfactory of doing a great job. Unfortunately, these are few among Fidelity's management team.

    Advice to Management

    Senior management should be aware of what is going on with their team managers. They give lip service to the Fidelity's philosophy, but what is actually happening in the call centers would make heads turn. Senior management needs to understand that profit results are at the expense of tampering with the experience of our client. Team managers are ultimately motivated by profitable results to line their pockets, not the fiduciary responsibility that Fidelity has to it's innocent and unprotected customers. Retirement specialist are forced to focus on profitability and must sacrifice true customer service for "superficial" customer service.


  3. Helpful (4)

    "Please read if considering working at Fidelity"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service in Cary, NC
    Former Employee - Customer Service in Cary, NC
    Doesn't Recommend
    Disapproves of CEO

    Pros

    There really are none. If you are a glutton for punishment go for it. It was by far the worst working experience of my life and I am so glad I left. I had always worked for smaller, entreprenurial type companies where there was real opportunity if you worked hard and could produce. This culture does not exist at Fidelity, at least not in the role I was in. They do have decent benefits so that would be a reason to work there and if you are looking for P/T you only have to work 30 hours per week to be eligible for the benefits (80% paid by Fidelity). They also do have the option of working 4 ten hour days or even 3 ten hour days if you are so inclined so that is something that may be appealing.

    Cons

    Worst job of my life. Long hard days that are incredibly boring taking call after call and answering the same four or five questions over and over. They micro manage you to the minute (literally) and tell you when to eat or take a break. That might appeal to some but for me that was the first time I had been in such a repressive position. I felt like a slave. And the compensation is terrible. I made more in my first year out of school ten years ago than I made at Fidelity and I am fully licensed (Series 6 and 63). I mainly took the job out of curiosity. I was new to the area (NC) and had never worked for a huge company before so I wanted to see what it was like. Thanks to Fidelity I will never again work for a company with more than 100 employees. To recent college grads......trust me....there is much better opportunities out there and I would run, not walk, from any offer that Fidelity makes you. I had never been miserable in my life until I worked with Fidelity and am so happy that I left.

    Advice to Management

    None.


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  5. Helpful (2)

    "Fidelity Investments Needs New Leadership"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Director in Raleigh, NC
    Current Employee - Director in Raleigh, NC
    Doesn't Recommend
    Disapproves of CEO

    Pros

    They do give healthy bonuses and good benefits but all that will go away across the next few years.

    Cons

    Disorganized, no empowerment of employees, belittling and controlling managers, don't trust skilled people they bring in to do their jobs, micro management, sweat shop.

    Advice to Management

    Start hiring people managers instead of dictators.


  6. Helpful (8)

    "An Old, Tired Company that Needs Improvement"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Business Analyst in Boston, MA
    Current Employee - Senior Business Analyst in Boston, MA
    Doesn't Recommend
    Approves of CEO

    Pros

    Good benefits (profit sharing, 7% match for 401k)

    Cons

    Its an old, tired company that is way too top heavy. Particularly with senior managers who have been around for 10+ year and seem to be in "coast mode" and are out of touch. In my specific group there are twice as many managers as there are actual employees (developers, analysts, QA, etc.). This makes for a politically charged environment. Promotions are based on who you know and how long you've been around instead of how good you are.

    The opportunity to move up in the company by moving on to other groups within the company has recently been removed. You can still transfer, but it must be a lateral movement (ie: they won't pay you more for doing more, and any type of promotion is out of the question even though they'll expect you to do the work of people with a higher job title).

    Advice to Management

    Start placing more value on the quality of employees instead of seniority. Many exceptional employees have left because, frankly, the benefits for doing a great job are virtually the same as the benefits of doing an average job. There needs to be more incentives for hard work.


  7. Helpful (2)

    "Start a career here, but don't plan on staying forever."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Consultant in Marlborough, MA
    Former Employee - Consultant in Marlborough, MA
    Doesn't Recommend
    No opinion of CEO

    Pros

    Great place to work for people who want to break into the financial industry.

    Cons

    It's a challenge for people who have experienced other work environments. Don't plan on working a regular week.

    Advice to Management

    Reduction of staff is not the only way to reduce costs. It creates burnout.


  8. Helpful (2)

    "I would not recommend Fidelity as an employer to my friends."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Reporting Analyst
    Current Employee - Financial Reporting Analyst
    Doesn't Recommend
    Disapproves of CEO

    Pros

    The benefits are decent, you'll never get fired, and depending on the department, there usually is not much o/t required. Also they generally invest a fair amount in technology, unlike many other companies. The annual Christmas party is decent as well. There is no communication, within departments, from senior management on down, and within divisions. Most management is promoted to the highest level of their incompetence. The pay sucks, as do raises, because they think the fidelity name will make up for it (it won't).

    Cons

    There is no communication, within departments, from senior management on down, and within divisions. Most management is promoted to the highest level of their incompetence. The pay sucks, as do raises, because they think the fidelity name will make up for it (it won't). The benefits are decent, you'll never get fired, and depending on the department, there usually is not much o/t required. Also they generally invest a fair amount in technology, unlike many other companies. The annual Christmas party is decent as well.

    Advice to Management

    Figure out your game plan. it seems like you're making it up as you go.


  9. Helpful (3)

    "once you get your licsence...get out"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investments Representative in Westlake, TX
    Former Employee - Investments Representative in Westlake, TX
    Doesn't Recommend
    Disapproves of CEO

    Pros

    The six month training program is a nice introduction the industry. You earn the Series 7 and 63 which are marketable in the industry. The trick is getting out of Fidelity as soon as possible. Once you get close to exam time (Series 7), start applying to companies.

    Cons

    No career mobility, low pay. With a base salary of around $36,000 and life tied to a phone all day...this is a thankless job. People stick it out because they think there is vertical mobility in the company. Fidelity is good about giving the illusion of a promotion every 6 months or so (if you work hard), but these only horizontal moves where they add a new skill set. Unfortunately, these skill do not translate elsewhere.

    Advice to Management

    Fewer Representatives...more pay...realy competitive incentives based on commission. Push service to the web.


  10. Helpful (6)

    "Destroying value for the customer and itself every day"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Analyst in Marlborough, MA
    Current Employee - Financial Analyst in Marlborough, MA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    A reputable name for your resume, more job responsibility for future pursuits than you'll know what to do with, and because of its multiple businesses it is especially great if you are looking for a quasi-career change (jumping from say marketing to advertising, accounting to finance, or finance to investments, etc)

    Cons

    Let's get right to it -- Fidelity hasn't yet learned the truth that 1 smart person can perform the work of 3 idiots, while actually managing to create value instead of destroying it. They love people who are completely satisfied being a middle-level contributor or entry-level manager for the rest of their lives, and although they will pay for your graduate degrees, actually going to night school scares the bejesus out of managers and will put you on the fast track to career stagflation -- an interesting paradox where the amount of work given to you rises exponentially and yet your career advancement aspects stagnate.

    They will work you to the bone, give you extremely little attention in terms of career guidance and feedback, and will make you feel like you're asking them to donate a kidney whenever you book vacation time or (god forbid) take a sick day. Essentially you are a highly trained, but easily replaceable, workhorse for them that can be put to sleep when they can find someone in another state or country that will take your job for less money, even if they can't produce the same standards of output.

    The CFOs -- yes plural, as Fidelity brands everyone who manages 100 people a CFO of this or that department -- developed a breakthrough management realization; if you don't promote people, you don't have compensation expenses increase. Targeted goals this year were <3% compensation increases -- inclusive of salary increases from promotions!

    It goes without saying the firm is losing most of its top talent. Unfortunately with salary for individual contributors 40% below market rates to satisfy Fidelity's precondition to feed senior management, top performers get replaced with completely ignorant and unqualified associates when they leave. As an example to this absurdity, 2 top analysts in a group quit when they were asked to take on additional workload after already working 60 hour weeks on average, despite not having received a promotion in 2-3 years from junior analyst to senior analyst. Their combined positions were replaced by a "senior analyst" who was so inept they could not even figure out how to rename computer files or put paper into a printer (I kid you not), and who had never worked in a financial services role before.

    In closing, the source of the other reviews on this company pretty much sums it up: management loves it, individual contributors think it’s a joke. Anyone thinking about coming to this company within their first 10 years of career experience should think of one thing and one thing only. "Who am I REALLY going to work for, once I get Fidelity to pay for my FINRA registration?" If you don't have a 1-2 year exit strategy, enjoy becoming one of Fidelity's many 40-50 year old junior/senior associates who will never even make it to middle management.

    Advice to Management

    Stop hiring more of yourself. You haven't invented some new paradigm where terminations don't require replacements, where quality people will remain despite insulting salary increases, and where all you have to do is think up an idea for it to become implemented. Your recent manager layoff was a good start, but you still have VPs who report to VPs who report to VPs who report to SVPs….get to work funneling some of that compensation down the ladder to retain top talent and to get work done. You're the reason our products are so grossly overpriced.


  11. Helpful (4)

    "The worst job you will ever have."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investments Representative in Westlake, TX
    Former Employee - Investments Representative in Westlake, TX
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Great place to work if you like to work while the rest of the world is off. Working nights untill 11 or 12, weekends and hollidays, (christmas, thanksgiving and new years are the norm).

    Cons

    This is by far the worst employeer in the finacial services industry. There is little chance of career advancement.. The company culture is one that breeds off of hostility and intimidation. Being creative and thinking outside of the box is frowned upon. Most job opportunities consist of lateral moves with little if any increase in pay.

    Advice to Management

    none


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