Thread regarding Fidelity Investments layoffs

Clueless as to how managers are selected

My manager skips 1:1 with no warning, has team meetings whenever they are able to “fit it in” their calendar (seriously wtf) and will not respond to emails from the team. Sometimes trade approval takes MULTIPLE DAYS.

How are people with no time management skills or people management skills even in the running?! My manager also has zero tech or technical trading skills.

by
| 1523 views | | 10 replies (last July 21) | Reply
Post ID: @OP+1jznrgppz

10 replies (most recent on top)

Nah bro, managers need to understand the basics of the job if they’re approving trades. You must be a manager with the “ YOUR job”. It’s not anyone’s job but the manager if a rep needs an approval

by
| | Reply
Post ID: @24k+1jznrgppz

Your manager doesn’t need to know how to do your job. The aspects of YOUR job are not the things they were hired for. They’re hired to do people management, strategic planning, relationships, visibility, influencing, all that jazz.

You might be holding yourself back by thinking that to get ahead you need to be the best at your job, work hard, etc… while you do need to be competent at your current job, you need to be figuring out what’s required at the next level and start demonstrating those skills. You also need to get better at managing your manager. That’s a really important skill set for getting ahead. What do they want and need and how are you going to give it to them in order to really demonstrate your value and put yourself in the running for a better position? That’s how you do it, not by just working hard at what you think your current job is and hoping it gets noticed.

by
| | Reply
Post ID: @p4+1jznrgppz

To get a management role, if you’re not already managing people, you have to interview. The role gets posted at least internally if not externally. You are not just going to be appointed as a manager. And we encourage mobility here, so in theory you’re going to be competing with people for the role. So if you believe all the managers are bad here, then I guess the underlying issue is that the people here are generally bad, and the least bad person gets the manager role. I mean, right? Or do you think it’s like the current administration where they deliberately appoint the most unqualified person to any role because they’re trying to break the company?

by
| | Reply
Post ID: @nm+1jznrgppz

I would love to work for a manager who knows what they’re talking about. Mine is a micromanager to the max, but no technical skills. They told me “no” so many times I had to keep going above their head to make changes.

It’s annoying because once you get past a lower level incompetent manager, the higher managers ask why no one brought this to their attention.

We can’t, THERES TOO MUCH RED TAPE

by
| | Reply
Post ID: @df+1jznrgppz

@b7, a productive ex-engineer turned product manager here would disagree. I have tons of artifacts to backup my contributions to our products:

  • I write (functional) design docs that consistently put us one to two years ahead of the market.
  • I edit and author product documentations.
  • I offer technical design and architectural advices as appropriate.
  • I handle cross-functional push and pulls.

I'd love to to be given the order to "prove your contributions with artifacts, otherwise leave!" but, our upper management, : ( , : (, all they can come up is TrackIt

by
| | Reply
Post ID: @cs+1jznrgppz

Product and project managers are the worst.

They never do anything to move the ball. They are the most risk averse people I've ever met at Fidelity.

There are corrections and repairs that I can easily make. I was told no. I know it's because she's going to find a way to insert layers between her and the 'risk.' There is no 'risk.' Literally, zero risk.

How did she get there without knowing these basic things?

by
| | Reply
Post ID: @b7+1jznrgppz

Managers are selected either by: 1. The buddy system. aka people who become good buddies with the upper management folks. or 2. Applying for a level or 2 above their position. I've seen lots of 'promotions by simply applying' back in my day. The even better bet is to apply for a level or 2 above your current position outside the company, and work there a few years, and then do the same to come back to Fidelity if you want. Just my observation for a few decades. Always remember, if it wasn't for nepotism, every single person that is in their current position today, had to either apply or get promoted.

by
| | Reply
Post ID: @b5+1jznrgppz

I turn cartwheels when my 1:1 is skipped.

by
| | Reply
Post ID: @b3+1jznrgppz

I love skipping 1:1💃🏽

by
| | Reply
Post ID: @as+1jznrgppz

Genuinely was just talking to my coworker about this. My manager doesn’t know a single about how to do his job, be a resource, professionalism etc. He has only ever worked as a fast food manager prior to this position though (how did he get the job?) so it makes sense.

by
| | Reply
Post ID: @ag+1jznrgppz

Post a reply

: