An Old, Tired Company that Needs Improvement - Senior Business Analyst Fidelity Investments Employee Review

Its an old, tired company that is way too top heavy. Particularly with senior managers who have been around for 10+ year and seem to be in "coast mode" and are out of touch. In my specific group there are twice as many managers as there are actual employees (developers, analysts, QA, etc.). This makes for a politically charged environment. Promotions are based on who you know and how long you've been around instead of how good you are. The opportunity to move up in the company by moving on to other groups within the company has recently been removed. You can still transfer, but it must be a lateral movement (ie: they won't pay you more for doing more, and any type of promotion is out of the question even though they'll expect you to do the work of people with a higher job title).