Same BS? Or are they better employers to work for?
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If you like TIAA and stayed forever and got promoted beyond your worth, you likely will not like companies like Fidelity or Schwab.
These companies are no bull$hit for profit. If you are a project manager with little output/reports, or a go with the flow leader at TIAA that got promoted because you only managed up and knew a few other leaders, you will likely get washed out quickly at these companies or just get a foot in the door and get stuck in an entry role.
Actual performance is a virtue, and you can’t really hide in a role like TIAA. As long as you know this you’ll be fine. unfortunately TIAA has a bit of a negative reputation, and other firms kind of know it. Good Luck!
This is got all employees? Yikes.
@f7 green means you are exceeding goals. Yellow means you are right on the borderline. And red means you are behind on goals.
@es
Red , yellow, green meaning what?
Is that for project managers?
Fidelity is cut throat. You are either Red, Yellow, or Green and managers will remind of your color and how you are to getting fired each day.
Having worked at TIAA and Fidelity, I can tell you that the differences in corporate structure, culture, and compensation, are wildly different. TIAA is a good company, but it isn’t a great one. They mask below market total comp by paying strong salaries, but for individuals who are consistently top performers, that leads to under compensation and stagnation. Fidelity has even stronger retirement contributions than TIAA, and they don’t lock up any of the money that you’re required to either annuitize or draw down at 7% per year after 55.
The culture of Fidelity is very collaborative and there’s a strong sense of “the rising tide lifts all ships” in the institutional business. They expect you to sell, but there’s a premium placed on doing the basic excellently, and its reflected by an industry-leading retention rate of clients and advisors.
Leadership at Fidelity is also world-class. Departments are each run like individual businesses, despite strong inter-business cooperation. There’s no Chief Investment Officer, for example. Fund managers are expected to captain their own ship, which is how funds like Contrafund have beaten their benchmark every year for over 20 years. Give people the tools to succeed, help them set measurable goals, and hold them accountable for those goals. Competence is rewarded, mediocrity is coached, and senior leadership offers a steady hand to guide the overall organization without buzzwords, sizzle reels, musical flops, or flair.
Client-obsessed, performance-oriented, excellence-expected.
@OP. dude it’s the same everywhere. Vanguard, Fidelity, Empower, Schwab, LPL, {insert FinTech company name here} the only difference is a slap of different paint on a name/logo.
I left TIAA - not by choice, and my new company is almost the same as TIAA in almost every way. However I am actually learning and developing while feeling valued by my team and manger compared to multiple roles with micromanagers at TIAA who has extremely strict BS in office requirements tracking attendance like schoolchildren.
That said TIAA has better benefits with a higher Pension percentage and slightly more 401k match. While some may pay a higher salary, TIAA’s bonuses are actually pretty generous by comparison. So I would have stayed if they were better with remote flexibility or less strict with a hybrid in office schedule (or found a cheaper office outside of downtown Denver).
Both are very good employers. But they aren’t perfect either. They have better CEOs and seem to care more about employees.
Vanguard is a major employer in Charlotte. Fidelity has offices all over.
Both offer very good retirement benefits like TIAA.
But don’t be fooled thinking there aren’t problems like any big company.
TIAA is a solid company. The last few years have been challenging but it’s still a decent employer.
Who cares? If you don't like here just quit.