Fidelity Investments Reviews | Glassdoor

Fidelity Investments Reviews

Updated August 17, 2017
1,104 reviews

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1,104 Employee Reviews

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Pros
Cons
  • Work/life balance tough to maintain (in 146 reviews)

  • Call center style of employment for most jobs (in 178 reviews)

More Pros and Cons

  1. Helpful (2)

    "The times, they are a'changing"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Positive Outlook
    No opinion of CEO

    I have been working at Fidelity Investments full-time (More than 8 years)

    Pros

    Historically a great company to work for. Highest levels of integrity. Always very thoughtful about the associates. However, the work environment and culture is changing rapidly in the past 6 months.

    Cons

    RIFs, aggressive expense reductions, the first early retirement program ever (for 55+ year olds). Every day, new re-org announcements and executive changes / purges, etc. The pressure from the top is creating negativity and it is snowballing down the organization.

    Advice to Management

    You don't have to change everything all at once.


  2. Helpful (8)

    "May be going downhill"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Electronic Response Financial Representative in American Fork, UT
    Current Employee - Electronic Response Financial Representative in American Fork, UT
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Fantastic benefits
    Friendly environment
    If you're liked, it's easy to move around to different positions
    Great for a sales environment (not pushy to customers - always what's in their best interest) - I would highly recommend Fidelity to anyone who really likes sales and a high intensity environment
    7% 401(k) match + profit sharing contributions every year
    Great training if you start off not knowing anything about the financial industry
    Recently they've been trying to (at least act like they are) make changes to make the employee experience better
    Industry leader and well known

    Cons

    A 529 plan is a tax-advantaged higher education savings plan made possible under section 529 of the Internal Revenue Code (IRC). A 529 plan allows individuals to save money for a beneficiary by contributing up to $14,000 (or $28,000 if married and filing jointly) annually without incurring gift or generation-skipping transfer tax liability. Earnings in this plan grow federal income tax-deferred and the distributions are federal income tax-free as long as they are used for qualified higher education expenses. There may be additional state tax benefits to participants, contingent on their state’s tax regulations.

    Nepotism
    Who you know can get you a job
    If your manager doesn't like you, it's going to be nearly impossible to move up in the company
    Last year they bumped up the new hire pay by I think $5,000 to get more people interested in applying, but none of the pre-existing employees have gotten any type of compensation adjustments to make up for it
    The annual salary review (and usual salary increase) is being pushed back this year, so that it's a year and a half from our last increase
    Don't get settled into what your role is defined as, because it'll most likely change without your opinion being considered
    Everything is going full-blown sales - they push a "customer first" attitude, but all of the compensation and management feedback is exactly the opposite
    We used to be able to take time to do research and follow up on our clients' needs, but they're punishing us for taking the time to ensure our customers have good experiences because we're not constantly taking phone calls/chats/emails etc.
    The only things that our bonuses are really based on are how many interactions we're taking per hour, how many sales leads we can get, and then our customer feedback survey scores - but they keep lowering the amount of impact the feedback surveys have... it seems like they're caring less and less about the customer's experience, and more and more about how much money they're making (to be honest, it's a dog-eat-dog world out there for investment firms right now though)

    Advice to Management

    Think about your existing employees. Don't concentrate solely on the company's margins. You're going to be back in a place where you're having to increase your starting pay for new hires because so many of your existing employees have quit because you don't act like you care about them, and no one wants to work for the company.
    Once you have taken care of your employees, they'll take care of your customers... if you let them. Fidelity employees (for the vast majority) want to follow up on customer problems and make sure they get them resolved, but since you keep increasing the number of interactions per hour, and limiting any time for following up for customers, employees just stop making time to resolve customer problems because then their "numbers" will look worse than their teammates who never follow up, and who rush people off the phone to increase their interactions per hour, and subsequently, their bonuses.

  3. Helpful (1)

    "Financial Sales"

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

    I have been working at Fidelity Investments full-time (More than 10 years)

    Pros

    Very flexible with schedules and time off for family reasons. great 401k match plus yearly pension payment. health insurance is affordable, HSA yearly payment from the company.

    Cons

    very very slow making changes to be more competitive. There are some very poor EVPs, mis-matched alignments in upper management service groups managing sales organizations and the resulting loss of long term focus and goals. This call center is very "good ole boys club", promotion is all about who you know. The pay is very low compared to competitors in the same region. For being a privately held company who manages a trillion dollars have not had a pay increase in over 10 years and management of my group has very specifically changed quarterly comp goals in order to pay employees less for the same amount of work. Can be a very toxic environment but those situations seem to come and go


  4. "A good company with great benefits"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Fidelity Investments full-time

    Pros

    Benefits, and atmosphere are great.

    Cons

    Can get a little mundane, and stressful during tax season


  5. "Premium"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Negative Outlook
    Approves of CEO

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

    Pros

    Flexible schedule. No micro managing. Good benefits. Lots of good people.

    Cons

    Feels more like contracted work, low morale, constant changes in direction of company, lots of corporate red tape.


  6. "Good place to work. Low relative pay"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Fund Accounting Analyst in Westlake, TX
    Current Employee - Fund Accounting Analyst in Westlake, TX
    Recommends
    Approves of CEO

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

    Pros

    Good work environment. Easy going. Not overwhelming. Friendly people. Good bosses. Nice campus. Has a gym and cafeteria. Great benefits.

    Cons

    Very low relative pay. About 20-30% less than comparable positions at other companies. The idea, I think, is that they make up for it by having good benefits (which they do) but really the benefits don't come anywhere close to the benefit of having making 50-60 vs 40. Also promotions are mostly "sideways" and come with negligible pay raises.

    Advice to Management

    Management is great. I just don't want to work 15 years and then only be in lower management making 65k a year.


  7. "Has Pros and Cons"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Fidelity Investments full-time (More than a year)

    Pros

    Nice modern facilities. Company promotes healthy living (cafeteria food, fitness, etc) Company promotes training and education. Industry leading health, dental, and vision benefits. Excellent bonus program.

    Cons

    Extremely high stress environment (for me) which actually made me ill. Divisions in the company are competing and not working together (like the US Congress) Too many CIOs which causes nothing to get done. Senior executives (along with the chairman) react violently to market changes and government regulations causing big layoffs.

    Advice to Management

    Have one CIO for the company -- that will stop the BUs from competing and never getting anything accomplished. Don't react violently and layoff much of the workforce when DOL regulations come about. You will still be left with 20+ year old systems with increasing risk year-over-year.

  8. "need more"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Territory Account Manager
    Current Employee - Territory Account Manager
    Doesn't Recommend
    Neutral Outlook

    I have been working at Fidelity Investments full-time

    Pros

    work on your own, no management

    Cons

    low pay for what you do


  9. "Good Management"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Diverse Exposure to industry

    Cons

    Very political for a number driven industry

    Advice to Management

    Proactively promote internally


  10. "What happened?"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - Anonymous Contractor
    Current Contractor - Anonymous Contractor
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Fidelity Investments as a contractor

    Pros

    Talented people and fun place to work - if you're in the right group.

    Cons

    Used to be better but with all the rumors of lay offs, the culture has definitely taken a turn for the worse.


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