Taro Logo

Monopoly on Mediocrity

Software Engineer
Current Employee
Has worked at Fidelity Investments for 4 years
December 3, 2024
Merrimack, New Hampshire
2.0
Doesn't RecommendPositive OutlookDoesn't Approve of CEO
Pros

You're likely to work with kind people who just want to do their work as well as they can and then go home. You can have a very long and successful career (at the firm) if you choose to stay and play the game or opt-out entirely.

Cons

The culture of promotions and performance is based largely on tenure (at the firm) and visibility rather than actual contributions. Titles are given as "in-the-door" incentives to new hires and withheld from internal candidates (unless making internal moves for promotions). It's well known and frequently communicated that you need to move groups to get promotions, yet you're encouraged to communicate your intentions to your manager.

Every internal policy seems geared towards retaining mediocre talent (that can't leave) and encouraging talent to seek better options within or outside the firm. Pay is based on "cost of labor," which trails by one or more years. You'll constantly be paid at your "I would riot below this" number year-after-year.

Advice to Management

Stop stack-ranking for performance ratings. Start recognizing talent with base pay and direct incentives. Stop hiring externally with absurd titles that demean the already-employed and underpaid who make the bulk of the contributions year after year.

Additional Ratings

Work/Life Balance
4.0
Culture and Values
3.0
Diversity, Equity, and Inclusion
5.0
Career Opportunities
1.0
Compensation and Benefits
1.0
Senior Management
1.0

Was this helpful?

Fidelity Investments Interview Experiences