There are newer employer reviews for Fidelity Investments

 

It is good.

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Software Engineer/Developer in Marlborough, MA (US)
Former Employee - Software Engineer/Developer in Marlborough, MA (US)

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

Pros

Good company with plenty oppurtunities to move around and grow.

Cons

nothing really, there are many locations so may be ready to move around.

Advice to ManagementAdvice

none

Recommends
Neutral Outlook
Approves of CEO

1867 Other Employee Reviews for Fidelity Investments (View Most Recent)

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  1. 1 person found this helpful  

    Fidelity

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - UK Institutional Team in London, England (UK)
    Current Employee - UK Institutional Team in London, England (UK)

    I have been working at Fidelity Investments full-time (more than an year)

    Pros

    Large, well known company so good on your CV.

    Cons

    Lots of back stabbing, fake people, bad bonus, hardly any pay rise, very political, doesnt have a smooth working process and getting data is hard as there are so many sources. You have to know people to be able to get data!

    Advice to ManagementAdvice

    Please look after your staff more instead of brown-nosing the whole time.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2.  

    A once great company...

    • 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 full-time (more than 10 years)

    Pros

    Ten years ago Fidelity was a great company to work for. Five years ago, before Lawson's reign of error chased out much of the core of long-term senior executives, Fidelity was a good company to work for.

    Benefits are still good (though much reduced from earlier days). Compensation has been been flat for years, while the workload and responsibilities have increased as headcount has dropped.

    Cons

    Today Fidelity is a place you should look to only as a last resort. You will live in constant fear of having your job off-shored, eliminated, or moved halfway across the country. Some choice anecdotes from the last few years:
    - Sold your house to follow your job to another state two years ago? Good for you, you can move again this year, right?
    - Involuntary transfer from the East Coast to the Midwest last year? So sorry, you make too much money, here's a 20% pay cut; you can take the pay cut, or take a severance package at your *new* pay rate.
    - Great news! We eliminated our on-shore development team to save money, so you'll need to work with the new offshore development team to complete your projects. PS - they're twelve hours ahead, and they aren't allowed to work remotely, so you'll have to work with them during their business hours (9 PM - 5 AM EST). Make sure you're in the office 8 AM to 6 PM though, wouldn't want to people to think you're slacking.
    - Due to the economic climate, there will be no merit or cost-of-living increases this year, and bonuses and incentive programs are being cut for individual contributors. The good news is, we did manage to scrape up 300 million dollars for off-cycle bonuses for our top 270 executives.
    - It's the first Tuesday of the month. The good new is, it will be way easier to find a parking spot tomorrow. The bad news is, you'll have no idea whether that key contributor on your project has been laid-off, or if they're on vacation for a week (unless you're the key contributor, of course).

    Advice to ManagementAdvice

    Believe it or not (an we all know the answer), you don't need "Vice President" in your title to contribute meaningfully to the company.

    You also don't need four new managers a year to keep from getting complacent.

    You're netting ten digit profits (read: billions of dollars) after expenses despite your constant complaints about expense ratios. Yet it's nigh impossible to get a promotion, you won't fund the bonus pool at historic norms, the merit pool has been capped at or below inflation (if you get a raise at all), and the remaining employees are still covering for all of the staff you laid off over the past four years and/or your foolish attempts at a half-ass offshoring strategy(s). And you claim to not understand why your precious "employee engagement" scores keep going down.

    Trend charts where the "discretionary investment" line goes up (look at all the work we accomplished!), the profit margin line goes up (look at how wonderful we're doing!) and the headcount line goes down (look how efficient we are!) are not motivating. Even if you try to be sneaky and put them on separate slides in your PowerPoint deck, we're smart enough to know that you got a huge bonus by way of making us spend more time in the office and away from our families. Work/life balance isn't supposed to mean, "You work 80 hour weeks so I can live it up on my new houseboat!"

    Your senior and executive management is a stinking cesspool of cronyism and political back-stabbing. The vast majority of your typical vice president's time is spent either sharpening the proverbial knives to carve up each other's personal fiefdoms in the event of a misstep, or maneuvering to protect themselves from the ramifications of any potential misstep. As a result, a large percentage of the time spent by your line employees is expended in risk mitigation (i.e. ensuring the blame for any potential error or issue is assigned outside their organization), risk avoidance (i.e. tossing work over the wall to other groups whenever possible), and pre-emptive blamestorming (there must always be a scapegoat). Your "leaders" will actively sabotage projects and initiatives if they think it will provide a political advantage. This goes double whenever your business and IT teams are required to work together.

    Either go back to the days where IT is integrated into the business lines, or completely separate and consolidate your IT functions. This hybrid structure where IT reports to senior business leaders but functions as a separate entity is a compromise that only manages to deliver the worst aspects of each solution. "Standardizing" on a single platform doesn't mean anything if every business unit that implements the platform does it in a different, and wholly incompatible, way.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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