Jumping Ship

[eggwards]

One of the Longhorns out at the old Work Ranch

I'm typing this as my first entry on my new iMac. The screen is huge and it's so fast. The desk lamp iMac is so out of here!

The new computer is a reward for getting a new job. I'd been kind of silent on the topic, but it's been almost two months from first hearing from my new company to going in to work yesterday, filing out paperwork.

This sadly, means I can't say that I'm posting something from the Ranch anymore.

When I moved to Dallas now a little more than two years ago I was really thrilled to be working for one of the largest financial firms around. I thought that the size of Fidelity Investments would provide many different opportunities to grow and build a great career. Early on i found that it wasn't to be. There were a lot of problems with the department I was in. It became clear early on that the company did not care about it's workers, and certainly did not take any time to try to develop their people for bigger and better positions in the company.

I saw that it was easier to get a higher position by coming in from outside the company than from applying internally. All the new managers but one were from other companies. When I took a step back to get to Dallas, I knew I wanted to quickly get on track to join management, or find a better position, both in stature or in compensation. My managers knew this, but they weren't really allowed to really manage their people.

The problem is, the managers were told to manage the process, not the people. Instead of worrying about quality, they worried about numbers, statistics and how files moved through the system. It never mattered that it was done right, just that they showed to be in standard. Being 10 days out of standard is bad, and it should be, but there was no one who cared about how the files were worked, so a lot of work just got pushed on, and no-one cared.

My first manager never spoke to me. she had to do an annual review and you could tell that she didn't know how I was contributing to the company. Everything was in generalities. My next three managers were better, but still, they were told to look at the numbers, not the actual work. Everyone on the floor knew that the month before the annual reviews was the only time you would be observed, and even that wasn't much of an observation.

Lets face it, I got tired for not being recognized for doing a good job, for taking on more files than many other people - one manager accidentally showed me the productivity stats for my group. I also worked a greater amount of overtime than other people, and actually tried to learn several other procedures, even writing down some procedures where they were none. I won't say that I'm God's gift to my employer - I do look at the internet a little more than I should, but I think I was one of the best people in the department. One manager mentioned that I was a "triple threat", stating that I'd be missed for my superior work. that particular manager does tend to touch people inappropriately and make little sense, but I'll take it as a complement.

One of my managers was great. He was the one who let me sit for my Series 7 license, and he was actually looking out for me. I wish he was my manager longer, but it wasn't to be. On Thursday he joked to another manager I was saying goodbye to that you should never let a guy get a license, because they'll run off to a new job as soon as they could. He was almost right.

One year of working for this department was enough, and I was already looking for a job internally. I went on interviews for 10 different positions and didn't get one of them. I would get frustrated that they wanted someone who had already done the job, asking if you knew their systems and procedures. How could I? I'm not sure why they even interviewed me if they really just wanted someone who already did the job at another firm.

I dropped my resume on Monster in September and got a few nibbles, and got an email in December from my new corporate overlords. Two interviews and I was in. Now I have to prepare for two more licensing exams (series 63 and the state insurance exam) and three and a half months of training. After Fidelity gave me two weeks of training and gave me no assistance for the Series 7 license, being a part of a company that really values training.

As I left on Thursday, taking my last trip around the ranch, i heard from several others who were happy for me, but you could tell they wished they were going. Some of them had been working there for 10 years or more, so really, how motivated are they? A few of those that have worked shorter stints like I did, I told that that they needed to make their own opportunities because they were rare there. They haven't replaced a departing worker in more than a year, so the demands on each person there to work more overtime will only increase.

It was worth it to get out. I was tired of working 10 overtime hours a week and still never getting caught up since we were so understaffed. It's worth it to start again, new and fresh. I'll have to build my reputation with my new employer, but really, I'm sure I can shine here as well.

oh, and get this, there was no exit interview. They really didn't care why i was leaving, or what they could do better for the next guy like me.

The new employer is also a large financial firm, but smaller than Fidelity. They have only had a presence in Dallas for about a year, so I'm getting in kind of early. I think a smaller office will make it easier for me to stand out.

I'll miss seeing the cattle and the pond outside of the building, buy I still have water to look at from the office as it's next to a levy of the Trinity River. I hope it doesn't flood. The office is also closer. It's 10 miles away from the house instead of 30. I'll be saving some gas as well as getting paid more, so maybe I'll finally get some time to pay off some bills and start saving!

It all looks good, it's just one of those things about having to start proving yourself all over. I'll admit I'm nervous about jumping ship and trying something new when I worked hard to get somewhere with Fidelity and never really saw my work being noticed until my last day. Still, I can make the jump, and I'll be successful here as I was elsewhere, in previous jobs. I have to look out for number one, and that means getting myself into a better, more positive workplace. I hope this will be a much better match!

Comments

[jdvsqz.livejournal.com]

Congratulations :)

[eggwards.livejournal.com]

Thank you!

Congratualtions!!!

[crbear.livejournal.com]

I also want to wish you lots of luck with your new job. Hopefully it will begin to make things easier for you.

Re: Congratualtions!!!

[eggwards.livejournal.com]

Thanks, I think It will be a good move in the end. Right now I'm just dealing with the unknown aspects.

[jrjarrett.livejournal.com]

Woo hoo, good deal Michael!

[eggwards.livejournal.com]

Yes, it seems to be a good think. Thanks!

[rafdfw.livejournal.com]

Yay! Congrats!

[eggwards.livejournal.com]

Thanks! Good luck on your continued search!

[mrdreamjeans.livejournal.com]

First of all, Congrats! It sounds like a natural progression to me. You've now got experience with two major fund families and that will certainly count for something! Fidelity's performance in recent years has suffered; part of the loss of prestige is the negative word of mouth ... that the company doesn't pay close enough attention to retaining and developing its managers, employees, it's in-house talent. You are a prime example of their blindness. Schwab has had some of the same issues.

I hope you shine, shine, shine with your new company! I'm really excited for you, my friend!

Big HUGS!

[eggwards.livejournal.com]

Yes, Fidelity has had their problems, and they all seem to do with a sense of scale. As they got bigger, things have gotten out of control. I completely agree that they don't really develop or retain talent, and it will hurt them. I understand trying to bring in fresh blood into the company, but there's a lot to be said for retaining and grooming people in the organizations. I tried for months to look internally, but when it cam down to it, I finally had to go outside the company to find something better. Not only Schwab, but Merrill and Ameriprise also have similar issues. Independent brokers seem to be doing better.

I think Fidelity would have done better staying as a fund group, and not trying to be a brokerage house. Now there focuse is completely on the 401(k) markets, so even their standard brokerage customers are suffering.

I think it will be a positive move. i've never worked for a not-for profit company before!

[eggwards.livejournal.com]

I think so. We'll just have to see. Give me a few months and I'll be bitching about them too. at least I don't have to drive out to the country any more.

Good luck on finding something that works for you as well. sounds like the medical field doesn't know how to treat their employees at all.

[redcub.livejournal.com]

This is phenominal news! Congrats!

[eggwards.livejournal.com]

Thanks Alan I've certainly learned how to interview better over the last year! Are you still looking to get a job closer to your home, or is it looking like time to move?

[redcub.livejournal.com]

The only thing I know right now is that I don't know anything. I will not be considered for work-at-home status for another 6 months at the very least. In the meantime I have to position my current house to sell because either way I can't afford to live here much longer. I am trying to keep an eye open for jobs, but there isn't much employment here in the first place which is why I wound up with a job an hour away. Meanwhile, until my current seperation is resolved one way or the other, I have to keep trying to work out what ever he will let me work out.

[eggwards.livejournal.com]

That really does suck, because getting out of town seems like a reasonable thing for you to do, if you didn't have the ties with the house and all.

Macs are party's!`

[gtijohn.livejournal.com]

Congrats on the new job, and might I really say even better is your new toy. I got myself one in December and I couldn't be happier. I wish I could date it...I'm trying in fact.

Re: Macs are party's!`

[eggwards.livejournal.com]

Shoes!

Thanks for the congrats. The new mac's screen is sooooo big! It's pretty lovely, and I now have a hard drive big enough to digitize my entire CD collection (About 200 in total)...it's just taking time to do it! The big screen makes things like pictures of Rugby player Ben Cohen look so good!

As for dating it, well i think the loading slot is a little too narrowl for my tastes. Just sayin" :-)