Thread regarding Fidelity Investments layoffs

I mentored someone while at Fidelity who was new to the firm and our team. She whined about not getting promoted but refused to present to the larger organization when the opportunity came up. She had a masters in computer science and was a bright young lady, but wouldn't put herself out there. You have to grab opportunities to get your name out there and be memorable in the best way possible. Quietly doing good work alone will not get you there.

I feel like I wrote this. I have had the same experience

Hey OP, I used to work at Fidelity. I’m a man, but in my case I had 2 options of which company to start my career. Part of why I chose fidelity is because a 401k company ran by a woman. My mom sacrificed having a 401k to put food on the table for 2 children, one needing care for the rest of his life due to his autism. I’m the older one so I figured it’d be a great way to pay her back and make sure she’s good for the rest of her life.

I fell for the guise, too. I’m definitely not a boomer, but I don’t condone the ageism from both sides of the coin. You usually don’t see women CEOs so I’m assuming this is heartbreaking to you because of that.

HOWEVER, do not, and I repeat, do NOT leave your job on your own yet. NOT until you have another job lined up. I was laid off but came back much stronger. Part of why the market is messed up because of tech being used to streamline hiring processes. So, if you simply put yourself out there in person to get a job, that’s half the interview already. Many employers are untrusting of people who may have been generated by AI. In this sense, it’s not entirely harder to get a job once you’re in the interview. It’s just a change that no one has been used to. Take this from someone who was laid off and had to find a job for 6 months. Go into the fidelity office as much as you despise it, shake as many hands as possible to grow your network, then once you have what you feel is a strong network with fidelity, network exteriorly. Good luck.

@g6 **fix

@b8 my favorite thing are the IT folks who are seen as heroes for fixing the terrible code that they hastily put into production. They are lauded as superstars, when the fact is if they were more thoughtful about error handling and collaborated more about the right solutions the fox wouldn't have been needed.

I’m glad you are resolved to leave. Fidelity is exactly like you say, it’s about personal relationships and very little to do with actual work ethic. You sound like a wonderful teammate to have. I hope you find something much better.

I'd bet the majority of promotions are due to applying for a job above your current pay grade. Apply. Never depend upon some silly manager for a promotion. It won't happen.

You are a woman and can’t get promoted?

You aren’t doing very good work or you’d definitely get promoted. Fidelity promotes women just as a matter of course.

A little tip for everyone in here. Don’t waste your time doing things that you feel should get noticed, be loud and obnoxious over visible things that have a “broad impact”. Doing busy work or more of your normal work will not get you promoted. You have to have the “oh look at me go” type of outward expression to get promoted even if it’s awkward and not in your personality. It’s sad but you gotta play the game.

There are so many posts like this on here, “I worked so hard and it wasn’t recognized.” There is a whole skill set you need to learn that’s about, “what does my boss want from me, and how am I going to focus my energy on the things that matter to them, the things that are high visibility, the things that will have the most impact on the business?” There’s another skill set about showing how driven you are, finding allies and sponsors who will speak up for you, letting your boss know you want to advance, discussing what it will take to get there, checking in about your achievements etc etc etc.

Hard work alone and waiting for your boss to notice, never paid off. That’s not how it works. You’re more likely to get ahead just by being loud and selling your accomplishments. What has worked best for me over the years is to figure out what’s actually important and try to focus on that, as well as speaking up and asking for what I want.

"All the nights I stayed up late", as a manager who values WLB, I despise the kind of behavior and manage the person out after gentle nudging fails to correct the behavior.

Good riddance!