FDM Group "2 year contract" Reviews | Glassdoor.ca

FDM Group Employee Reviews about "2 year contract"

Updated Mar 23, 2020

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3.1
53%
Recommend to a Friend
65%
Approve of CEO
FDM Group CEO, Founder, and Director Rod Flavell
Rod Flavell
60 Ratings
Pros
Cons
  • "Account managers can improve on salary negotiations after 3rd year on behalf of consultants(in 168 reviews)

  • "You're placed on a strict 2 year contract and the two years don't start until you are placed with your employer(in 82 reviews)

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Reviews about "2 year contract"

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  1. "Paid training and great career boost"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Contractor - Business Analyst in Toronto, ON
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at FDM Group for more than a year

    Pros

    You get paid to learn! How refreshing after paying for university for 4 years.

    Cons

    2 year contract, but you still get paid

    FDM Group2019-02-12
  2. "Stay Away"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Java Developer in Toronto, ON
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at FDM Group full-time for more than a year

    Pros

    Access to blue chip companies

    Cons

    Extremely low salary compared to market average. Locked into 2 year contract and you have to pay 30 K to leave early. Management just want to make money out of you, you'll be terminated on the first sign that you're not profitable.

    FDM Group2020-01-02
  3. Helpful (9)

    "Avoid unless absolutely desperate for a job"

    StarStarStarStarStar
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Cloud Engineer in Toronto, ON
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at FDM Group full-time for more than a year

    Pros

    -Good chance you get a job at a large bank

    Cons

    -Training is a complete joke, you can learn more on your own in a couple weeks -Very low pay (40k first year, 45k second year) -Pay around minimum wage during training period -Roles are often misrepresented when presented to you -VERY restrictive 2 year contract starting from when you go on site

    FDM Group2019-10-24
  4. Helpful (7)

    "FDM is telling staff + consultants to write 5 star reviews"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Consultant in Toronto, ON
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at FDM Group full-time for more than a year

    Pros

    Great foot in the door if you have no IT experience

    Cons

    2 year contract with $30k termination fee $40k salary first year $45k salary second year Salary has not risen to reflect living costs Consultants are cash cows to FDM, who collects more than $100k in consultancy fees from clients

    Continue reading
    FDM Group2019-10-12
  5. Helpful (8)

    "FDM should be your last resort. Long review inbound:"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Contractor - DevOps Consultant in Toronto, ON
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at FDM Group for more than a year

    Pros

    Easy acceptance: FDM's standards are relatively low for hiring. They have a simple phone interview followed by a group interview of 8-15 applicants. They are looking more for interpersonal skills than technical skills. Training: They train you to be prepared for the client workplace. If you have a computer related degree then most or all of the material will be review for you. They will teach you some additional basics of working in an enterprise environment, tailored for their large financial sector clientele. They will also train you for how to be effective in interviews. They get you a job: Their business model is to hire new grads as consultants, brush up their workplace skills, and contract them out to their clients (primarily the large Canadian banks). They have a team dedicated to getting interviews for consultants. You will have no problem getting interviews. Especially if you are in the development steam, you will have no problems landing a position. Many of the placements hire FDM with the intent to hire the consultant full-time with the company once the 2 year contract is up. Health care coverage: Honestly, their Manulife plan isn't bad. You have to pay like 30$ bi-weekly for your first year but they cover the second year. The plan covers basic dental, 200$ on glasses, yearly eye exams, some drugs, massages/physio, etc. You can easily make it worth it.

    Cons

    Like what I posted above? Well all of that comes with a big cost: THE PAY. Seriously, the pay is the #1 problem with FDM. DO NOT underestimate how little 45k/year is in the Greater Toronto Area. You are stuck with them for 2 years once you get a job with the client. This is the pay structure: - First year is 40k/year CAD and second year 45k/year CAD - Your pay is made up as: Ontario minimum wage (14$/h) every workday as a 'salary' + a 'daily bonus' of 30-50$ (depending on year) to make up the rest of the complete pay (40k or 45k) - If you work overtime you DO NOT get any additional 'daily bonus' pay. OVERTIME IS WORKED AT MINIMUM WAGE You may be thinking: "Even 45k seems pretty low for an IT job. On the other hand, I'm fresh out of university. Maybe being a little underpaid for 2 years isn't so bad". The reality is that FDM Canada is in TORONTO, the city that likely to overtake Vancouver as Canada's most expensive city. 45k is hilariously low for anyone in the Toronto tech industry. 45k is below the average cost of living in Toronto (seriously, look up a few models)! Setting yourself back this far financially as someone likely in their mid 20s is not a decision to be taken lightly. If you have student loans you will struggle to pay them off. You will need to have multiple roommates to afford to live in Toronto (most placements are in Toronto). You will have a very hard time saving or investing any leftover cash. If you plan on buying a house or condo in the GTA then you will be seriously set back by working for FDM. Additionally: - There is NO salary negotiation - If you want out early, their termination cost is 30k! Honestly, I doubt they'd be able to actually have that upheld considering it's more than the take-home for a 1st year but best to not try it without a plan and a lawyer first. - There is a non-compete clause in your contract such that if you leave, you cannot be hired by any of their clients (so your placement can't just hire you). This same clause also prevents your placement from dropping your contract to hire you. - They charge their clients 80$+/hour for you. You make a fraction of that. They encourage you to work overtime because that margin increases (since they don't give full pay for OT) - There are no bonuses or performance-based increases. They run the "FDM stars" program where consultants can be entered by their manager to win an Amazon gift card. It's a lottery system between thousands of FDM consultants, so best to pretend it doesn't exist. How can you increase your income with FDM? - Overtime: As stated above, you only get minimum wage for OT. You're better off getting a second job on weekends/evenings. - RRSP plan: They do offer a group investment plan; HOWEVER, it is not worth it. The investment vehicle is a mutual fund through Manulife. You are only working for them for 2 years which is not enough time for reliable returns on a mutual fund. Mutual funds have also been shown with high confidence to be inferior to index funds due to lower overhead costs. Just don't bother. - "Buy as you earn" stock matching plan: In 2019 they introduced a stock plan. Basically, you can have money taken off each pay to purchase FDM stocks on your behalf. You will be awarded an additional 33% in 'matched stocks' 2 years after the year in which they were purchased. The catch is that you are disqualified from matched stocks if you leave or are fired. If you become hired on by your placement when your 2 year contract is up, then you WILL received matched stocks purchased in each year that ended WHILE you were still employed by FDM. This means you won't get matching stocks for the year in which you left FDM. That being said, their stock is doing well and 33% matching is still a pretty good deal. I'm personally ineligible because it started in 2019 and I'm leaving in 2019 but I would have participated if I were to receive matched stocks. Alright, enough about pay. Here are my last few cons. They're not such a big deal since once you're on-site you only have to put up with being underpaid. - Academy environment: FDM comes off with a slightly patronizing tone, as if you are a still a child and not a professional (don't worry, your workplace won't treat you like that). You are a product that they sell to their clients. Account managers benefit from how many contracts they sign out to clients. Some (but not all) of the account managers obviously care more about how many consultants they contract out than the well-being of the consultants. - Choice of positions: While they can't force you to apply for a position you don't want, some account managers are likely to pressure you to apply for them anyway. As long as you aren't rejecting every application opportunity and waiting for your golden opportunity, you can just shrug it off. On the other hand, if you interview for a position and the client decides to take you then you aren't given the option to decline. They also consider it disrespectful if you indicate to the client during the interview that you are not interested in the position. - Volatility of positions: Some clients go through interview phases before they have secured project budgets. There is a risk of landing a position and being held in the academy for weeks, waiting for your start date only to have it fall through because the client cancelled. In first half of 2019 FDM also over-hired and ended up having to drop more consultants than usual who were unable to find positions.

    Continue reading
    FDM Group2019-06-28
  6. "Great Connections"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Consultant in Toronto, ON
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at FDM Group full-time for more than a year

    Pros

    Training helps you get into the industry Connections help get a foot in the door to the top banks in Canada

    Cons

    Pay 2 year Contract hanging over your head

    FDM Group2019-04-03
  7. "Great start to my career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - FDM Consultant in Toronto, ON
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at FDM Group full-time for more than a year

    Pros

    - Great training - Start a career with high profile clients - Interview prep - Young and energetic culture - Train with people with similar goals - Fun events - Great support from consultant support team throughout contract

    Cons

    - 2 year contract and lower pay at the beginning, although it makes sense after the training

    Continue reading
    FDM Group2019-02-06
  8. Helpful (9)

    "Junior software developer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Junior Software Developer in Toronto, ON
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at FDM Group full-time for less than a year

    Pros

    Desk job, Good city,IT experience, Professional environment,Future growth

    Cons

    Low salary,Sign 2 year contract, rough environment,strict management, less increment

    Continue reading
    FDM Group2018-11-07
  9. Helpful (13)

    "Good place to start your career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    IT Consultant in Toronto, ON
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at FDM Group for more than a year

    Pros

    • It is a good opportunity for recent graduates to start their IT career if unable to get a job. • They provide 3 to 4 months of fast paced training and certifications based on the stream selected. Trainers have good knowledge and are very supportive. During the training, you get paid minimum wage (which was not the case when I joined). • You get opportunity to work with one of the top 5 banks in Canada. • If not placed with a client within 3 months of your training, you are free to leave FDM. • 2 years of employment guarantee: This can be both pro and con. Sometimes if you get beached, it might take longer time to join another client. But, I have seen some of them who were beached and joined another client in a month. • You have higher chances of joining the client that you are working with at the end of your contract. FDM encourages you to join the client but, you have the option to continue with FDM, join the client or go on your own. • I have always received good support and timely responses from the trainers, HR and account managers.

    Cons

    • Pay is lower than the market rate. • After training, you may not get to work on the same technology as you were trained and usually clients don't provide training. Sometimes you don’t even get a clear job description until you talk to the interviewer or actually start working with the client. • You are bound to work with them for 2 years. If you quit before your 2 year contract ends, you will have to pay $30K CAD.

    Continue reading
    FDM Group2017-10-20
  10. "Okay"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Graduate Software Developer in London, England

    I worked at FDM Group full-time for more than a year

    Pros

    Intense and good training

    Cons

    Unpaid training Low salary 2 year contract

    FDM Group2020-03-23
Found 45 reviews