Overall Reviews at Fidelity Investments
Customer Service Representative | Westlake, TX | Jan 26, 2019
If you enjoy torture
Fidelity by and large is purely your standard massive corporation. They try to appear that they care but it's always money in the end. They've gone the way of the liberal social justice garbage so it's an entirely fake environment. They cut corners but increase demand and output. They hire seasonal, lowly educated people to do grunt work so they don't have to pay benefits or high wages. They have fired people for wanting to spend time with their kids and not come in on a "volunteer basis" over the weekend because it showed they didn't want to be number one. They have a messed up vesting schedule so if you leave at 4 yrs instead of 5, they can pay out 60% vs 100% of company match; they skip over 80% for a reason. I was pigeon holed into the last shift and they wouldn't move me after years of being on it because they found it hard to fill and I was good at it. It took getting meds and a doctor to demand it. Call centres suck anyway so most people end up medicated after a time. They dress it up nice and fancy because being what it is, only someone into pain would apply. Promotions are almost always lateral, not vertical. The ones who climb up are yes people, not unique individuals, or like one infamous manager, could barely operate but could "satisfy" and thus secured her future. I only stayed because I was close enough to be vested and I wasn't going to lose it. I just hate this cubicle, empty metrics and goals, childlike meetings, and slave like work.
Software Engineer Intern | Westlake, TX | Jul 26, 2018
SWE Internship Experience
I was a Software Engineering intern, through Fidelity's technical intern program, at the office in Westlake, TX.
I really enjoyed the entire internship, but a lot of what you end up doing depends on the team you get placed in, and you don't get to choose that as an intern. My team was a lot of younger people, recent college graduates, so we got along really well. With my manager, hours were really flexible. As long as you hit 40 hours a week, and made all your meetings, then nobody cared when you worked specifically. I ended up working from 7 - 3:30 most days, eating lunch at my desk, which was awesome.
The work itself is not terribly hard, but it is meaningful. I worked on actual production-level applications that were deployed to customers, or to other developers at Fidelity. They treated me just like any other employee during our meetings, and assigned me work just like any other employee.
If you are considering fidelity full time, they do start developers at a little lower than the industry standard, but MORE than make up for it with benefits. They have a 7% 401k matching program, and a 10% profit sharing program (meaning that most years, you can put 7% of your salary in to your 401k, and get an extra 17% matched by Fidelity). They also have great health and child-care benefit plans.
ProsGreat 401k matching (up to 17%), Great work-life balance, Work remotely (but not every day), Younger workforce
ConsBig company == Lots of Bureaucracy
Stocker | Center, TX | Feb 15, 2019
Put Your Nose to the Grindstone
Most positions are for the call centers. Yes, they license us for brokerage and related fields, but then we became glorified customer service reps. They don't pay well, and you start out with small amounts of time off and retirement benefits. In return? Angry customers, fussy elderly people, irate managed-account clients, fraudsters, clueless but attitude-filled reps from contra-firms, and all upset over long hold times. No one wants to come work there anymore, and people are quitting for better jobs. The answer? Add nicer lounges and a ping pong table...for phone reps who can't leave their seats. So, departments with no experience now take service calls. This means people get to wait for someone who can't help and who may or may not transfer them off to the right person.
The answer from management is to increase the number of calls per hour expected, and decrease the amount of time you can be between calls or noncompliant with your schedule. Reps are bailing left and right.
Oh, and to make matters worse, older employees, anyone with health issues, tenured reps--these people are being squeezed out to make room for the lower-paid newbies.
It was a good company once. But removing the stuffy dress code is DEFINITELY not enough to make up for all the misery. Run. You can do better.
ProsNo real dress code anymore
ConsWork you to the bone while managers stand around chitchatting, lousy culture, low pay
Director of Communications | Westlake, TX | Feb 2, 2020
Fidelity has excellent benefits and makes efforts to stay relevant as a top workplace
First and foremost, Fidelity's benefits are second to none and the company makes a real effort to stay relevant in order to attract new and young talent.
There is a real focus on employee wellness and healthy lifestyles with various amenities to support that.
There's an intense focus on employee mobility among the workforce - employees are encouraged to try new roles and move around the organization; there are a number of career development programs and opportunities available to assist in those endeavors.
Fidelity also makes a great effort with flexible work options -- work from home options, collaborative and hip workspaces, playtime (ping pong talbles, game rooms, relaxation rooms, etc.), associate appreciation activities and much more.
Most employers would likely agree that technology is a tough nut to crack and even more difficult to stay on top of in light of a constantly changing landscape. However, Fidelity has come a long way in this space, reducing effort for our customers and also making it much easier for employees to stay connected and collaborate with with each other, both domestically and globally.
Last but in no way least, Fidelity is relentless in providing the best customer experience in the financial services industry.
Overall, Fidelity is a great company.
Financial Representative | Salt Lake City, UT | Feb 24, 2019
Not as prestigious as you would think
Salt Lake City and American Fork site are trying to hire a lot of people within next few months and even offer a bonus to employees for referring friends. I wouldn't do that to my friend though!
You have to get licensed to work there and that's a hard process (Learning and Development team used to be good, but has been reduced heavily--meaning, you better be sharp on your own, or you don't have a job).
Assuming you pass the tests and you get licensed, you get on the phones and then grind for couple of years and then maybe you'll find another phone job that you might like a little better.
The work environment is always changing and the always present high stress at work often comes to you from management decisions and their micro-managing super tool called Genesis (Management knows EVERYTHING you do on the phones) (I'm not joking).
Speaking of management, it is consisted of people who would do anything to avoid the job of working on the phones and make your life difficult. They are managers not leaders!
Fidelity hiring managers say that the company believes in meritocracy when it comes to getting promoted (NOT TRUE). It's about who you know and that often means wrong people get hired in places where someone else belongs.
Good luck finding a job someplace else that will help you reach your true potential!
ProsBenefits for now
ConsHigh stress, low pay
Customer Service Representative | Denver, CO | Mar 3, 2020
Good culture for employees. Too much bureaucracy.
Hired on for a call center customer service position - over qualified but assured opportunity for my experience would soon be available.
Good training, exposure to upper management and project teams
Very friendly and enjoyable culture - low drama, younger employees were eager to learn and professional
Cooperative working environment
Good benefits and incentives
Community activism with team and location wide volunteer events.
Direct manager (4 years of industry experience all with Fidelity) had difficulty leading an experienced team (we all had 5-10 years of industry experience prior to Fidelity)
Compensation was lower than possible for the position. (I was told my hiring offer was the max for the position - not my experience - which was well over the required amount)
Not eligible for a new team in another department that I was well qualified for due to our location deciding to implement a policy of minimum tenure before changing roles. They hired from outside while several members of our team were qualified for those roles. In fact, I trained one of them at a previous employer.
Shortly after my first year, I left for another firm that offered twice my compensation in a role matching my experience (wealth management).
Senior Consultant | Westlake, TX | Oct 28, 2018
Provided Community Service opportunities
The phone roles can be tough. You spend most of your day on the phone and its difficult to attend community service events or seminars if there were calls holding. They continued to assure phone reps that they would be allowed to receive off the phone time but rarely was the case. The day was rarely varied, even though they assured phone reps that they planned on breaking up the monotony so that phone reps could get off the phones and take additional projects on for half their day for growth and development opportunities.
Off the phone roles at Fidelity do provide a much more email-intensive form of customer service, which has its pros and cons. Depending on the criticality of the role in the department, there may be opportunities to work remotely with possible flex hours.
Unfortunately, a few managers were more concerned about their own advancement opportunities versus helping their staff develop and grow. Overall, Fidelity had some great people that made the company feel small and homely given its impressive stance in the financial services industry.
Consdifficult for phone roles, management can be obtuse and concerned with their own advancement
Senior Operations Analyst | New York, NY | Mar 24, 2020
Supportive management, good benefits and work-life balance.
I worked as an analyst in the cash management division of Fidelity Investments in New York City for two years from 2008 - 2010. My direct managers were fantastic; super supportive, encouraging and advocates for all of their team members. The job came with a long list of benefits, including 401(k), profit sharing, annual bonuses, health insurance, and discounts on public transit and health club membership. The work-life balance was great as well; the day started at 9 and ended at 5 (I recall staying over maybe three times in my two years when we were in the final stages of contract negotiation for a new product roll-out). The hardest part of the job by far was navigating the multiple levels of review and the maze of bottlenecks that made even the simplest of tasks difficult. If there was a purpose to the red tape, it appeared to be the avoidance of any actual responsibility given the perceived risk to the long list of benefits he or she stood to lose if called upon to defend a decision. Because of this, at times it felt as though we worked very hard and accomplished little. But such is the nature of all corporate culture to some degree, I suppose. . .
Consultant | Smithfield, RI | Mar 16, 2019
World class training and professional development support
Wouldn’t trade my almost 10 years at Fido for anything. While I attended college for a few years I never earned a degree. I started as a licensed customer service rep in an asset retention role. I was determined to join the sales force and needed to stand out. I became my teams LEAN Gatekeeper and lead daily huddles. I had strong relationships with many sales reps and often job shadowed. I applied for the “Service to Sales” program but didn’t make the cut and was told that I wasn’t a good fit for sales. Needing to sharpen my presentation & leadership skills I approached management and received consent to join a newly created Toastmasters Club (2 hours/week away from my desk). 10 months later when the next service-to-sales program opened I re-applied and was accepted. The sales training, resources and support Fidelity invested in me made me a better employee, sales rep and person. Nothing good comes easy at Fidelity and everything must be earned and anything is possible if you are willing to put in the work. Incredible company to work for.
ProsTraining, education, resources & support for career advancement
ConsLower compensation then industry averages
Unit Leader | Westlake, TX | Jan 15, 2019
Stressful Decision Making
During a daily routine you are expected to make stressful buys for customers at a fast pace, that can lead to errors that are very costly. The company expresses a need for excellent customer service, however the bonus structure is broken down into two categories - client surveys and calls per hour. The bonus for calls per hour is higher than the survey average per quarter. You have more control over the calls per hour, which most work toward since it is the bigger payout. Everyday, you wait for the trade log support report that ensures you did not commit a trade error. This is very stressful due to the fact that everyone in the company receives the email. The managers are huddled in one location away from every team, which doesn't give a lot of support when you need them. The same is for the help desk agents. The culture is very relaxed in dress code, but stressful with call support. The best part of the day is when you take your lunch and breaks. You are allowed to take them anytime and break them up as you wish. Most tend to take a quick 5 minute break after a hard call. Overtime is open almost everyday, but most tend to avoid if possible.