Thread regarding Fidelity Investments layoffs

How hard did you earn the promotion?

Someone mentioned here that the newer generations get promotions much faster than the previous ones who had to invest more effort and wait longer? I somewhat agree because there are always exceptions.
I try to be objective and I think I have long deserved a promotion that so far I wasn't able to get. I worked until the burnout, as best I could and it never resulted in a promotion.

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Post ID: @OP+1arK2M9N

5 replies (most recent on top)

Fidelity has been handing out promotions so easily to the younger generation within the last year. I look at LinkedIn and see the promotions happening all the time—been in the job a year—get a promotion. It’s ridiculous. Never like that ten years ago.

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Post ID: @Rhkn+1arK2M9N

Leadership and skills ? Or Politics and favouritism and ageism and color
I have seen many people climb up just based on these factors alone. The people writing here looks like internal recruiters who overlook internal candidates for positions and hire gladly from outside companies. They think internal candidates are stupid. Many good folks have eventually given up and moved outside fidelity.

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Post ID: @eqtm+1arK2M9N

If you go outside to get, for example, a principal for a team, that almost always means the existing seniors on the team aren't ready. It's really that simple.

You can get to principal in 5 years, you can get there never. It almost always comes down to your leadership and skills. My experience has been that, for principal, it's typically the leadership quality that seniors are missing that causes them to get skipped over. Not everyone is cut-out for leadership, no matter what they may think of themselves.

Frankly, I prefer an environment where I can get to a level based on the value I deliver and the skills I bring, and not some arbitrary tenure and/or experience requirement.

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Post ID: @9enh+1arK2M9N

It's not that people leave after promotion – the predominant way to get promoted is to apply for a job that's up a level. It's insane.

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Post ID: @5hco+1arK2M9N

In lot of cases, I have seen, employees leave the group as soon as they are promoted. The managers hold onto their promotions till the very last. Associate to Sr software engineer is very fast,2–3 year max.
They also prefer to bring younger folks from outside at principal level, rather than promoting from within.

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Post ID: @5yww+1arK2M9N

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