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Industry Spotlight > Clearing and Custodial Firms

Fidelity to Top 16,600 Hires This Year, Pay for Entry-Level Staff's Degrees

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Fidelity Investments announced Tuesday that it will offer to fully fund undergraduate degrees for roughly 18,000 U.S. associates that support its personal investing and workplace investing businesses.

The news comes as the firm — which hired 16,600 individuals in 2021 — says it is “on track to exceed that figure this year,” according to a press release, which adds that Fidelity’s customer service organization has grown by 127% over the past three years.

In April, Fidelity said it would likely add 12,000 new jobs by Sept. 30, including new positions for advisors. It also anticipated that for 2022 it would beat its 2021 hiring level, which it stated was 16,600.

According to the firm, the program announced Tuesday is “an investment in the next generation of financial services talent and part of a larger expansion of the firm’s education benefits.”

“We are constantly evolving our benefits so that we can improve the long-term success of our associates and our customers,” Megan Bourque, head of benefits at Fidelity Investments, said in a statement.

“This new benefit will create growth opportunities for our associates and increase accessibility to higher education, something we’ve been focused on for years through our student-debt relief benefit,” Bourque noted.

Program Details

The Fully Funded Undergraduate Degree Program will be available to entry-level customer service phone representatives who work in the company’s regional centers across the country with concentrated populations in Westlake, Texas; Merrimack, New Hampshire; and Covington, Kentucky.

Once an eligible associate completes an application, Fidelity will pay the cost directly to the school, eliminating the need for reimbursements. The degree programs are designed for working adults and are offered in a variety of majors that align with Fidelity’s business and the financial services industry.

Associates will also receive free coaching to assist with the selection of a school and the area of study and support balancing work, school and life.

Beyond the program, Fidelity’s expanded suite of education benefits includes access to about 175 programs at more than 30 schools with no upfront tuition costs for a wide range of learning opportunities beyond traditional degree programs. Associates also have access to one-on-one personalized support and career guidance, among other benefits.

– Janet Levaux contributed to this report. 


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