Thread regarding Fidelity Investments layoffs

why so many Principal Engineers and Directors in Tech?

I joined last year but I see just way too many Principal Engineers and Directors. Like teams of 8 with 3-4 Principal Engineers? I have seen teams of 10 where 5-6 are Principal Engineers!!! Also, teams with multiple Directors. Is there any promotion process? or its just outcome of people staying here for their life?


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| 1 view | | 6 replies (last April 2) | Reply
Post ID: @OP+1km4mqxcz

6 replies (most recent on top)

there's a serious dilution in the titles. In my tech group, entry level is grade 4. So Principal is really performing sr. level work

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Post ID: @242+1km4mqxcz

lying and fraud are the basis for everything at fidelity

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Post ID: @tr+1km4mqxcz

Too bad you didn't join via the LEAP program. I worked with one who asked me the FIRST day of the job on our group what they needed to do to get promoted. I said prove yourself worthy of one. 🙄 he didn't even have his login to our systems at the time. Fast forward to their class' monthly lunches where they compared salaries etc. Whst I wanted to say was - hey how about learning how to behave in a meeting before you become Director?

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Post ID: @mz+1km4mqxcz

Remarkable observation, which position did you join at ? Stay for 3-4 years before you eye a promotion.

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Post ID: @en+1km4mqxcz

its just title inflation. A non bank / financial company would be calling these people senior engineers and paying them in the same ballpark.

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Post ID: @c1+1km4mqxcz

It’s just the pay grade, titles have no meaning . with rising inflation after covid people were hired at higher salary hence the titles

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Post ID: @a1+1km4mqxcz

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