TellingIt...you are wrong. You are either a phone monkey or in a gilded cage. Your time will come. Many of us thought the same things. Tick tock. As somebody else posted it is the corporate version of Logan’s Run.
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Amen, TellingIt. Everyone gets encouraged to learn new skills, get CFP, etc. They PAY FOR IT. People getting let go can’t be bothered to make themselves more valuable.
A lot of these "older" people you speak of getting let-go are overpaid, who spend more time complaining about how things are changing, and who never want to learn new skills. These millennials have relevant skills for today's economy (sorry, but your decades old skills aren't relevant anymore), so what do you expect? You have to keep yourself relevant, otherwise the next generation is going to take your job. Sure, a good person occasionally gets let go, but it's extremely rare. Most people canned should have been shown the door years ago with their bad attitudes and lazy work ethic. And in case you're wondering, no, I'm not a millennial. :)
The 401k match and profit sharing are nice but the salary is not so great. Much of your pay can depend on your bonus. You are rated against others in the department and if your boss doesn't fight for you, your bonus s—s. I was there many years and I had some good managers. My last manager had his favorites and turned some of us down for items we volunteered to do. My team was short handed but they layed off a couple of us that are "older". Is it silly to think that they would want to keep older employers with high 401k balances in order to keep their money in house rather than have the former employee roll their 401k into a competitor's IRA or a new employer's 401k? I guess they'd rather bring in a new person at a much lower salary that is enthusiastic but doesn't have a clue.
It's not just about hard work, you have an opportunity to learn a skill. Many of you just sit on your arse and collect a paycheck... Then you're surprised when you're let go....
Bottom line, Fidelity blows
Oh bless your heart @11mDkni0-eteo. You are clearly:
- a Fido shill, or
- Under 40, or
- Naive AF.
Yeah that 7% 401k match and 10% profit sharing coupled with company stick is awful. Now the even let you work from home. Bottom line is work hard and don’t do anything unethical it’s a great place to work.
Truly horrendous place to work. So happy since I left. Can’t believe I put up with it as long as I did.
Co-sign. It’s even worse if you’re over 40.