Fidelity Investments offer
Hey everyone, I have a bit of a conundrum... I have to make a decision by the end of the week, and I'm not entirely sure what the best choice is. I am currently a Quant Data Analyst for a top-tier Hedge Fund in Boston and have been interviewing for the past 6 months or so. My current compensation: TC: ~$180,000 This monday I got an offer from a massive investment firm (Fidelity), that initially gave me a meh offer, but after I showed hesitancy I think they're giving me a bit of a sweetheart deal: 1st year TC: ~$195,000 2nd year TC and onward: ~$240,000 to $250,000+ I am also in the interview process with a very elite hedge fund/private equity firm in Boston. I told them I had gotten an offer from Fidelity, but unfortunately they are not willing to accelerate the interview schedule (as they are still evaluating multiple candidates). The ultimate questions I'm mulling over in my head: 1) Right now, I'm fairly close to the buy-side process of a fairly well-known hedge fund. There's not much room for vertical growth, but I have been learning a lot about finance and how hedge funds invest. Would joining a massive company that's much more risk-averse end up with me just being a cog-in-the-machine? How does one stand out in a massive company? 2) Would it be terrible to put in two-weeks notice with my current firm, accept the offer from Fidelity, but keep interviewing with the other hedge fund/private equity firm in Boston? How bad is it to renege on an offer? I don't think the elite HF/PE shop will beat 240/250 TC in 2 yrs but will probably be better in the long run. Edit to add to this: In terms of WLB, Fidelity is by far the best with my current place and the other PE/HF shop being pretty close. In terms of prestige, it is the opposite both my current place and the other PE/HF shop are known for long hours #boston #fidelity #offerdecision #offer #finance #technology
theres another fidelity comp thread floating around; i would give that a read. also, does your offer letter include awarded shares? if not, you wont see the increased TC until your 3rd year.
Could you please let me know what level this offer is for ? I am expecting an offer from them soon and would like some direction on comp negotiations..thanks
As an L6, that’s a damn good offer from Fido. What is the level you’re coming in as? What’s base?
Shares get vested in 2 years, 401k get vested in 5 years. If you’re not in a hurry to leave your company, maybe wait for the more prestigious company.
What’s the base salary?
How much shares does fidelity offer for a director level role _ new hire ?
Can you provide the TC breakdown for the fidelity offer? What level is this for? L6?
This is most likely a L6 offer
Feels more like a L7, but maybe they made an exception — or that Fid is starting to realize that people won’t work for them being underpaid any longer?
Please share your level and salary break down
1. Why is the second year fidelity comp so much more? Are they offering promo? If it's not in your offer, it won't materialize. It's just a sales pitch. 2. You don't owe these companies anything. Reneging to get the best deal for yourself is fine. 3. Keep interviewing if you're in the funnel and the TC is good 4. Don't put in 2 weeks until you've accepted an offer you like and don't plan to renege
1. It is in the offer letter, many aspects don't start applying/vesting until the second year. (Shares, Profit Sharing, even 401k matching). Fidelity seems very weird in this aspect, haven't ever seen so much compensation time gated behind vesting schedules. For 2 to 4, I think that's what my gut is telling me too. Obviously not sending out any more resumes, but better to finish through with the process I am currently in...