- Report: #439306
Complaint Review: Fidelity Investments - Covington Kentucky
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Fidelity Investments
100 Crosby Parkway Covington, 45002 Kentucky, U.S.A.
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Fidelity Investments truth behind it all Covington Kentucky
Well.......I guess she's just "lucky to have a job."
One dept. moves all salaried employees to hourly due to the new compensation structure that was implemented. Because of this, some had to take a 20% decrease in pay. Yes, that is disheartening, but wait, there's more!
There was one individual who was always hourly. She met with her boss so her boss could show her the new comp structure. During this meeting, her boss said he hoped to move her into the next compensation quartile by helping her obtain certain experiences and certificates. She was quite pleased because during this meeting her boss also pointed to a salary figure and said that this is where she fell currently, but could jump up when she got these certificates. Truth be told, she was below that salary point and figured:
Much as some had to take salary adjustments in terms of a decrease so they fell in line with the new comp structure, she expected to have a salary adjustment in terms of an increase so that she was within the right salary.
She informed her boss that she was actually not at the midpoint range. His response: Oh.......I didn't check..........I just assumed you were there. Uhhhhh.....budgets are tight right now.
Funny how some had to take a decrease in pay to be in line with the new comp structure. Yet, there was no salary adjustment for her - It just didn't benefit the company. She feels very upset by this. Personally, I think she's over-reacting - She should feel lucky just to have a job.
Truth be told
Florence, Kentucky
U.S.A.
One dept. moves all salaried employees to hourly due to the new compensation structure that was implemented. Because of this, some had to take a 20% decrease in pay. Yes, that is disheartening, but wait, there's more!
There was one individual who was always hourly. She met with her boss so her boss could show her the new comp structure. During this meeting, her boss said he hoped to move her into the next compensation quartile by helping her obtain certain experiences and certificates. She was quite pleased because during this meeting her boss also pointed to a salary figure and said that this is where she fell currently, but could jump up when she got these certificates. Truth be told, she was below that salary point and figured:
Much as some had to take salary adjustments in terms of a decrease so they fell in line with the new comp structure, she expected to have a salary adjustment in terms of an increase so that she was within the right salary.
She informed her boss that she was actually not at the midpoint range. His response: Oh.......I didn't check..........I just assumed you were there. Uhhhhh.....budgets are tight right now.
Funny how some had to take a decrease in pay to be in line with the new comp structure. Yet, there was no salary adjustment for her - It just didn't benefit the company. She feels very upset by this. Personally, I think she's over-reacting - She should feel lucky just to have a job.
Truth be told
Florence, Kentucky
U.S.A.
1 Updates & Rebuttals
Sam
Raleigh,North Carolina,
U.S.A.
sadly....
#2UPDATE EX-employee responds
Thu, May 28, 2009
It didn't matter where she fell on the pay scale. I used to work for Fidelity and they were working like hell to freeze pay or scale back pay. Fidelity, as a company, pays less than it's other securities competitors, but at this point, if Fidelity is still willing to honor the certifications (and FYI, they can reneg at ANY TIME FOR ANY REASON and HAVE!), let her take them! Fidelity has to pay for them and license her where appropriate. Then she can go to another firm and thus make herself more marketable in the future, probably make more than someone of her new co-workers who aren't licensed. Take the opportunities your given and run when you get them! Fidelity ain't gonna show any loyalty to her!
