Fidelity Investments reviews

The Fidelity office in Durham office has a hiring quota agreement with the city in return for tax advantages. The agreed hiring quota far exceeds business needs. Fidelity manages to meet the quota, yet at the same time, save their budget by making sure that employee turnover is pretty high in this office. Instead of spreading in-coming calls evenly among associates, they create separate work units called MU's. A particular MU receives ALL incoming calls with other MU's receiving only spill over workload. As a result, people quit constantly in the overloaded MU who are then replaced by newly recruited associates. Other questionable business practices also exist in this office. People are randomly given additional reponsibilities or promotions with the promise that they will receive increased pay commensurate with their added duties. Months later, promoted employees are still waiting for their increased pay. The excuse by management is that they are still waiting to see if you can actually do the job. Instead of a salary increase, they try to placate these employees by decreasing their workload by dumping their duties on the overloaded MU. This is a widespread practice throughout this office. They also hire people at level I and give them Level III duties once you are in the job with Level I pay. Because of the widespread unemployment situation employees grit their teeth and put up with the situation until they can find another job. In my experience with local and international organizations, I have never seen such dishonest business practices as witnessed in this office. It is truly regrettable that organizations can actually get away with such behavior right here in the United States. You will constantly see numerous job ads by this office but think twice before you apply.

Leadership has zero idea what it's like to be a phone rep at Fidelity. They are constantly adding new rules and reworking KPI calculations to effectively make phone reps work more for no pay increase, despite the call centers operating more efficiently back then than they do now. The term constructive dismissal comes to mind. Successfully performing your role will get you nowhere - no promotions, no pay increase, no extra perks, nothing. You have to play the corporate game if you ever want to get promoted out of the entry level role. Not an extrovert? Then good luck. 50% in-office requirement despite no formal rules being brought back by the regulators for "culture" reasons. Fidelity skipped their company-wide associate sentiment survey in the months after rolling out 50% RTO because they knew they would see double digit percentage point drops across every measured category. When they finally did the survey 6 months later, that's exactly what happened. They highlight how dynamic working is supposed to be flexible, but it's literally the exact opposite of flexible, you have required in-office days that you cannot change or miss without them taking away your bonus, which is a significant chunk of our total compensation. As other reviews highlight, we're already being paid lower than other companies in this industry.