The Student Perspective: One of our IMML students attended a presentation by Fidelity International, and here is what she found out…
"Whilst many of us have heard of Fidelity International, not many of us know exactly what they do. We might associate them with terms such as ‘asset management’ or ‘pension fund investment’. A lot of words, but what do they mean? James Budd, an Investment Research Specialist at Fidelity International, was able explain it into simple terms: ‘’The simplest way to describe what we do is make investment products using stocks, shares and bonds; investing other people’s money for them - whether that’s your mum and dad, a financial advisor, or a big pension fund - hopefully to make them even more money.’’
Like John Lewis, Fidelity International is a privately-owned company which is what makes them so special and sets them apart from its competitors. It’s owned by the people. It’s a family business in which employees are given equity as they advance in their career. James, like other employees, are passionate about their firm and love working there.
Their core values are highlighted as innovation, integrity and excellence. This means always putting the client first, staying ahead of the curve, and doing the best they can do. Whilst finance has had a bad name in recent years, they consider themselves to be honest. They pride themselves on confidence, not arrogance, which what gives the business such a nice culture.
The firm is separated into two divisions. Their parent company is based in the USA, whilst the other branch - Fidelity International - includes all other countries outside the USA. Although they are two separate companies owned by different people, they are part of the same family. This means that if your heart is set to work in New York City; the company may not be right for you. But that’s not to say there aren’t other opportunities to work abroad. Fidelity International is a multinational corporation, with branches in Tokyo, Copenhagen, Melbourne to name a few. It is a global business; business activity involves communicating with peers across the globe.
So, what is it that sets them apart from other asset managers? Fidelity International take a long-term perspective. Because it’s a privately-owned company, there’s no need to report to shareholders, meaning they can truly invest in the long-term. Staff bonuses are rewarded on a five-year basis; providing better long-term solutions for clients. They’re not reliant on outside research - in fact 80% of research is done in-house. Internal talent is nurtured; allowing employees to grow internally through the ranks.
If you’re seeking a career with Fidelity, they run investment schemes which take three broad strands. The most competitive is equity research, followed by analysis and evaluating stocks/shares. But if number crunching isn’t for you, there are many other commercial opportunities in sales and marketing, technology and infrastructure. James himself started with Fidelity on the sales and marketing graduate scheme – a role which gave him client exposure straightaway. Technology and infrastructure are particularly important to support the business and be the ‘glue’ that keeps everything together.
Fidelity International are seeking employees who are not only on course to achieve a 2:1 and above, but those who have a thirst for knowledge. It’s important that you’re curious, have an enquiring mind and really think about how things work. You also need to be able to build strong relationships and be able to communicate ideas – in both investment and commercial roles. They want employees to not just be able to stand and present, but to be able to explain what they mean and stand by their ideas. Whatever your background, they want you to have an open mind and be charismatic. Before he joined the graduate scheme, James was actually a history teacher! They accept employees from all different backgrounds. All of this makes the company stand out from other financial institutions.
If you’re not undertaking a particularly financially based degree, they ask potential employees to demonstrate that finance is of interest. Perhaps read the FT or The Economist. Don’t act like a ‘know it all’, but rather be enthusiastic and show you have a genuine interest in finance. Despite the fact that there’s a lot of new lingo when you start the job, which can be overwhelming – they insist that you are patient. Like in any career, things do get easier.
If you’re interested in working for them, the first step is to apply online and take part in an online assessment. If successful, you will receive an online interview, followed by a face to face interview – which they are able to carry via Skype if needs be. The final step would be attending an assessment centre, in which sessions vary according to the job role you are applying for. Often, interviewers will not see your CV until this point. It’s essential to interact with the business, show an interest and ask questions – particularly at the end of the interview. It’s important throughout the application process to not think about what Fidelity International would want you to do, but rather what you would naturally do; clarifying you are a natural fit to the organisation.
If you’re interested in standing out in their recruitment process – or other financial firms - Fidelity International are running workshops on Tuesday 30th October from 1:15pm to 2:05pm in 1W. This is a skill based workshop to go over tips and tricks to succeed at strength based interviews. Bookings opened for this session at 9:00 on Tuesday the 16th of October, which you can access from MyFuture."
Respond
