What Fidelity does: Fidelity offers financial expertise in investment management, life insurance, retirement investments, security execution, and clearance.
Mission: Fidelity through top-notch financial expertise helps to improve its client’s financial strength.
Size and Presence: Fidelity provides top-tier financial expertise with its workforce of over 70,000 workers in around 140 locations within the United States.
Best known for: Fidelity’s wide array of well-managed and low-cost funds makes it an ideal investment choice for its impressively multinational clients.
The good bits: For everyone who takes personal and professional development seriously, Fidelity is the perfect place to work as they are big on the growth and development of their employees.
The not-so-good bits: At Fidelity, employees are required to take things up quickly which could put some pressure on employees but also helps their professional growth.
The roots of Fidelity can be traced back to 1930 following 1929's financial crash. About three years after its founding, the company had to handle its first big issue - the great depression.
Edward C. Johnson acquired the investment company at the time. In 1947, Fidelity introduced the Fidelity Puritan Fund to drive income from stocks.
The company between its bold management of equity funds in 1958, took Trend and Capital funds as its first. They began to look for more technologically advanced ways to serve customers with the introduction of computers in 1965.
They also became the first to undertake check-writing and designed an 800 number to interact with prospective investors in 1974.
Fidelity also began to tailor its financial services according to the need of the public and law changes. Some of these services include retirement plans, 401(k) products, and more. In 2018, they began investment provisions for digital assets through Fidelity Digital Assets.
Housing more than 40 integral units, Fidelity projects a work culture that sees every department tick as one. Their culture is built on principles of; integrity, respect for employees, putting customers first, competitiveness, and hunger for innovation and development.
By holding these principles dearly, they do right by customers, satisfy the people they work with, and deliver the best results always. The vibe at Fidelity is generally fast-paced yet friendly and competitive yet learning-oriented to make their results stand out and help them remain true to their vision.
Fidelity looks to maintain consistency in the level of success they deliver hence, they need talents who are willing to get on the mark and go from the onset. To achieve this level of successful consistency, they have a thorough recruitment process for graduates and interns.
There are five steps in the hiring process at Fidelity first of which is the submission of an application and an entrance interview. After this interview, graduates and internship applicants are invited for an aptitude test to lay a foundation that tests their listening skills.
Graduate and internship applicants are then required to take a more technical programming test. Applicants who complete this programming test are invited for a manager and an HR interview. These interview sessions give graduate and internship applicants an opportunity to showcase their personalities and demonstrate how much of a cultural fit they are.
The entire recruitment process at Fidelity gives applicants a sneak peek into the values of the company and the level of quality they expect from workers at the company.
Fidelity claims to encourage its employees to grow professionally within the organization. Every role has a standard set of resources and tools with which graduates and interns can make the best of their time.
As a new graduate or intern hire, Fidelity engages workers in nine intense training weeks. This training helps to bring employees up to speed with the practices of the organization.
They also claim to offer tools and resources like Client Management Training, video lectures, and planning tools to help employees get the best out of their Fidelity experience.
To balance their quest for progression while remaining competitive, Fidelity links employees with mentors and coaches. These coaches are internal and help employees navigate the intricacies of a career in Fidelity.
Employees at Fidelity earn around $136,993 per year while interns are paid $94,428 annually.
Fidelity supports investment in environmental, social, and governance causes. They also work on projects that help them reduce carbon footprints while getting satisfactory results.
Fidelity focuses on areas of; climate change, resource efficiency and conservation, and stakeholder engagement.
Fidelity joined a long list of Wall Street companies involved in sexual assault allegations in 2017. Two of the company’s executives were accused of sexual assault after their deals with Harvey Weinstein fell off.
Harvey Weinstein was dealing with cases of sexual assault at the time as well. Both employees were fired from work and the company made promises to improve transparency in its work culture.