Fidelity’s hiring spree will add jobs in NJ

While most jobs headlines these days have to do with cuts, Fidelity Investments is bucking the trend, saying it expects to add 4,000 new hires to its ranks in the first half of the year.

Of those spots, which will focus on customer service and technology, 54 new roles will be created in the New Jersey/New York region, the Boston-based company said this week. These “people-focused investments” are driven by strong financials from 2022.

On Feb. 15, the company reported revenue of $25.2 billion for 2022, a record high that bests 2021’s revenue by 5%. And while operating income did show a 1% dip from 2021 in 2022, according to chairman and CEO Abigail Johnson’s letter, issued with the report, “this was an expected and planned development, as we made significant increases in hiring and substantial investments in the company’s technology platforms.”

The 2023 efforts build on a strong year of regional hiring. According to Fidelity, the company saw a 47% increase in roles added last year compared with 2021. On top of that, Fidelity highlighted a 15% increase in total headcount year over year in New Jersey/New York, with 1,154 area employees at the end of 2022.

According to Johnson’s correspondence, Fidelity filled more than 17,000 associate roles in 2022 across all job functions, making for 68,000 total employees.

Last year marked another high point at Fidelity in terms of employees, with the most mobility reported in five years and 36% of associates – or 20,000 people – assuming new internal positions. The figures, according to Fidelity, highlight its efforts to build – and keep – a deep bench of talent.

“We take a long-term view to investing in our overall workforce and our people, just as we do in our businesses,” said Kirsten Kuykendoll, head of talent acquisition at Fidelity. “We’re not only continuing to fill new roles in 2023, but we’re investing in the people who work here through our benefits, career, and development opportunities. We encourage our associates to ask, ‘What’s next?’ and learn-by-doing across our company, which offers an unmatched amount of career exploration pathways.”

According to its website, Fidelity has nine office locations in New Jersey: Bridgewater, Manalapan, Marlton, Millburn, Morristown, Paramus, Princeton, Red Bank/Shrewsbury and Wayne.