Thread regarding Fidelity Investments layoffs

Having Fidelity on my resume is a curse

Been here 5+ years, stuck with a toxic boss/team for a good chunk of those years. Been trying to leave for the last 2 years with no luck. (And my job search started even before RTO btw, I'd imagine more people here are looking elsewhere now.)

I used to like this place and the growth opportunities it gave me, good benefits, and flexibility. All that went away when I was restructured onto this current team (and restructured again within the team so toxic boss can "better divide his time amongst the few direct reports that he cares more about"), with a toxic boss who tells me frequently, "there are others on this team who are a better fit for this role than you," and actively tries to replace me.

When I tried to interview elsewhere for a lateral move (same role/title, same responsibilities, no title or pay raise), even after I pass all final interviews, companies tell me "Fidelity is such a great place I don't see why you want to leave...", I get rejected for simply being a fidelity employee and this fake perception this place carries externally. And believe me, I've tried to look internally too and failed many times here - either for roles with another internal candidate already lined up or ghost postings that aren't actually real.

There's a perception that this place is amazing (and it is, 4-5 years ago maybe but no longer), and now I get why people have such long tenures here - they can't leave, they are stuck in the same roles with no transferable skillset to go anywhere else. RTO pains just make it all worse.


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| 17 views | | 5 replies (last 4 days ago) | Reply
Post ID: @OP+1m6sr30y1

5 replies (most recent on top)

Perhaps it’s different as a current employee interviewing elsewhere, but over the multiple RIFs I’ve seen in over 20 years, I’ve been told that other companies love to pick up Fidelity employees because other companies know Fidelity employees work hard and have been accustomed to meeting high standards. Best wishes for you in finding what you need. 💛

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Post ID: @hb+1m6sr30y1

@cb I think that’s one way to look at it, but I think the original poster also has some very good points. I’ve interviewed externally before and people always ask why would you ever leave such a good company. You can’t really get into the negatives because that makes them think - oh this person is negative and will be negative here. The longer your tenure the better story you need to have about why you are looking. With RTO it’s easiest to pin it on the commute because a long commute every day into the office is something no one wants to do. Say “it just doesn’t make sense anymore to spend so much time in the car so I’m looking for a shorter commute”. Seems like the optimal time to escape the nonsense. If you have someone in the other company that can vouch for you that makes a big difference. Internals are usually getting the job but if there is a chance for an external, it’s the people you know that are I’ll help you out.

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Post ID: @cm+1m6sr30y1

This sounds less like Fidelity is a "curse" and more like you can’t accept that other employers aren’t choosing you. Passing the final round doesn’t mean you were their top candidate. If they keep asking why you’d leave a "great place", they may be giving you a polite way to say they weren’t convinced you were the right hire. Blaming Fidelity’s reputation is a lot easier than asking whether your own pitch, attitude, skills, or interview answers are part of the problem.

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Post ID: @cb+1m6sr30y1

I'm going to guess that you're accidentally revealing some problem or negative aspect at interview when quizzed about why you're leaving. It's easy to do and can cost you job opportunities.

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Post ID: @bc+1m6sr30y1

@OP I agree with a lot of this, but if you come right out and say that you are looking for a closer commute then they don’t think you are leaving for a performance reason. Most people would understand if your commute is an hour or more.

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Post ID: @ae+1m6sr30y1

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