In technology, All vendor contractors come with the title of "principal software engineer" in most cases their actual capability would be 2 grades below. I have been told that this is due to the amount of Money being paid to the vendor company for the person, which usually matches with pay range of Principal in Fidelity for most vendors.
I just think it's very unfair to actual
Fidelity Principal Engineers who are playing that role and have put lot of effort to get there. The management doesn't care about these matters, which can seem trivial but can add up to overall demotivation long term.