BNY Mellon Reviews

Updated September 17, 2014
Updated September 17, 2014
1,232 Reviews
2.8
1,232 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
BNY Mellon Chairman, President and CEO Gerald Hassell
Gerald Hassell
361 Ratings

Review Highlights

Pros
  • I also get to work from home when needed, making the work life balance easier to handle (in 116 reviews)

  • Many good benefits, however, management was not proactive in developing talent (in 61 reviews)


Cons
  • There is no room for GROWTH and the PAY SUCKS OVERALL (in 25 reviews)

  • All the hard works we done are not appreciated by the senior management of the company (in 49 reviews)

More Highlights

181 Employee Reviews Back to all reviews

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  1. 4 people found this helpful  

    Work Anywhere Else

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Pittsburgh, PA
    Former Employee - Anonymous Employee in Pittsburgh, PA

    I worked at BNY Mellon full-time for more than a year

    Pros

    Recognizable brand name and opportunity to learn a lot about the business, if you are motivated.
    It is nearly impossible to get fired.

    Cons

    1) Pay (expect 20-40% less than any competitor, from entry level through mid-management
    2) Complete lack of motivation from employees, poor performance is not punished, good performance is not rewarded
    3) Business line managers are not accountable for their poor decisions and results
    4) Low/Mid Level managers have little power to retain their best employees or get rid of their worst
    5) Everyone is a Vice President and none of them do anything other than sit on conference calls with 35 other VPs.
    6) It is a corporate bureaucracy in the absolute worse sense
    7) HR is abysmal. No concern for current employees. All effort is spent hiring temps to replace full-time employees who have fled the bank. Some departments have >100% turnover.

    Advice to recent graduates:
    1) Take a job at any other financial institution
    2) If your only offer is from BNYM, take it, but immediately start applying for other jobs
    3) Never let anyone know that you are competent; do the bare minimum, anything more than that will go unrewarded and make you a target for all the lazy people to dump their work on

    Advice to ManagementAdvice

    Retain (re: PAY) top performing employees. Fire poorly performing employees

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    Not invested in employees, out of touch management cushioning their pockets at employee expense

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous  in  Pittsburgh, PA
    Current Employee - Anonymous in Pittsburgh, PA

    I have been working at BNY Mellon full-time for more than 3 years

    Pros

    Benefits are good, vacation time

    Cons

    Money is pooled; the less management pay their employees, the more they get. Non competitive wages and no comp-time or bonuses for many employees as a result. Internal promotions of minimal increase in salary are used as a "retention tool" locking you down for 12mo. They'd rather lock you into your position than retain talent in the company.

    Advice to ManagementAdvice

    Invest in your employees!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3. 1 person found this helpful  

    Mellon is DEAD, Long Live BONY and that's not good.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Consultant  in  Boston, MA
    Former Employee - Consultant in Boston, MA

    I worked at BNY Mellon full-time for more than 10 years

    Pros

    If you do not work therer or are a client that's a plus!

    Cons

    While not a sinking ship. It's no longer the place to work or be a client. They sold their procucts by differentiating themselves on superior client service. Then they fire most of the client facing staff. They are just like State Street, it's all about cost saving and firing people to saves $. Don't be a client and don't be an employee.

    Advice to ManagementAdvice

    Ha, like they would listen, they are to busy talking about how safe his/her car is compared to the cars "You All" drive. You are just like State Street now, nothing special and you can thank Gerry for it and watch your share price stay stuck in the mud. You change the structure so often you should see if you could sell that service to others, too bad you suck at that too! Hence, you are always changing it and it is adding no value so you are useless.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5.  

    I would never want to work here.

    • Comp & Benefits
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at BNY Mellon full-time for more than a year

    Pros

    Competitive salary, and that is honestly the only perk that I can possibly list.

    Cons

    Awful benefits; Management is completely disconnected from their staff; Completely unrealistic expectations; Lack of job security; Horrible working environment; Work from home was terminated as a program;

    Advice to ManagementAdvice

    Management is completely disconnected from their employees. Work from home needs to be revisited, as it is a major work perk. I had a child, got no paternity leave, and my manager never even asked how the family was doing when I returned. There is a ridiculous and utter lack of care for the actual employees.

    Doesn't Recommend
    Disapproves of CEO
  6.  

    Very hostile and mean work environment from supervisors and manager.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Module Processor  in  Pittsburgh, PA
    Current Employee - Module Processor in Pittsburgh, PA

    I have been working at BNY Mellon full-time for less than a year

    Pros

    Benefits are good as well as shift

    Cons

    Supervisors have no respect for their employees and do not like when employees work well with others

    Advice to ManagementAdvice

    Find another job you might enjoy.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7. 5 people found this helpful  

    A company thrashing desperately

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at BNY Mellon full-time for more than 10 years

    Pros

    Intelligent, talented, and friendly co-workers who pull together as a team in spite of numerous company problems.
    Flexible hours and generous telecommuting policies.
    Free coffee.

    Cons

    Where to start?

    There are rolling layoffs due to a stated goal of replacing half the US workforce with lower-paid people in India. Everyone's looking over their shoulder and wondering if and when they'll be next. Survivors get to pick up the pieces, not just from those who were let go but from the overseas staff who lack necessary training and experience to do their jobs effectively.

    Advancement opportunities are limited. The bar for success is set so high that almost everyone gets an "average" rating at review time. Promotions come in the form of increased responsibilities but no accompanying pay increase. Annual raises are generally capped at 1% to 1.5% and this year have been more than eaten up by changes in health coverage that forced everyone into high-deductible plans.

    The Boardroom is of course insulated from any sacrifices; Forbes ranks Gerald Hassell as one of the highest-paid CEOs in the industry, while lower-level employees are falling behind.

    Cost-cutting isn't matched by any clear strategy to grow revenue. BNY's much-trumpeted "Plan to Win!" seems focused on finding a single magic revenue source that will cure all ills. At the same time multiple, smaller initiatives where the firm already has a competitive advantage sit on the table.

    A strongly risk-averse, almost hidebound culture stifles innovation and creativity, especially in IT. Efforts to move away from outdated technologies are met with resistance from managers who haven't updated their skill sets in years and chant the not-invented-here mantra. Inbred attitudes are reinforced when younger employees and those with higher skill levels get discouraged and leave.

    Bottom line, morale is in the tank. People are openly discussing their job searches and wondering when clients will start jumping ship for other providers. If things keep up the way they've been going it may not take too long to find out.

    Advice to ManagementAdvice

    If upper management isn't willing to resign in favor of people who can do more than just send jobs overseas, at least change the name of the company so it reflects reality. "Bank of India Mellon" should work just fine.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    AWFUL! Management has no clue about the reality of daily work. Countless hours spent in useless meetings.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at BNY Mellon

    Pros

    Generous PTO policy and ability to work-from-home on occasion.

    Cons

    Management does not understand the client experience.

    Advice to ManagementAdvice

    Get an understanding of the client experience before creating projects designed to "help

    Doesn't Recommend
    No opinion of CEO
  9. 2 people found this helpful  

    Bob Cratchit had better advancement opportunities, salary and benefits even before the Christmas Ghosts visited Scrooge.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Operations Specialist  in  Everett, MA
    Current Employee - Operations Specialist in Everett, MA

    I have been working at BNY Mellon full-time for more than 5 years

    Pros

    It barely pays the bills. Good life/work balance. This company used to be more employee oriented when I started, not anymore.

    Cons

    The health benefits offered are terrible. There are no advancement opportunities. The company has expressed measures for removing jobs by attrition. There is no job security. There is no recognition for performance by upper management. The work is repetitive and few skills are required. Everything is being outsourced.

    Advice to ManagementAdvice

    Take better care of your employees. The company emphasizes on keeping the clients happy, however, it is necessary for employees to be happy too.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    Not for young talent.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Global Markets  in  New York, NY
    Current Employee - Global Markets in New York, NY

    I have been working at BNY Mellon full-time for more than a year

    Pros

    Relaxed working environment. There are a lot of good people and a lot of smart people who work for the bank. If you do find yourself employed by BNY Mellon make sure you take full advantage and learn everything you can from the people around you.

    Cons

    Low salary, limited career advancement, low raises and the company would rather let young talent go then pay to keep them on board. The company also seems to be stuck in the past and has not changed a single board member in years. There is no growth at the company so they have resorted to cutting salary, benefits and staff to improve their financial position instead of building a better business.

    Advice to ManagementAdvice

    Remove the old guard and change the way the company operates. As competitors have grown and progressed BNY Mellon has stayed in the past and not adapted to the new normal in finance.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11. 1 person found this helpful  

    US Tax Specialist

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - US Tax Specialist  in  Pittsburgh, PA
    Former Employee - US Tax Specialist in Pittsburgh, PA

    I worked at BNY Mellon full-time for more than a year

    Pros

    Not any other then a pretty flexible boss and could adjust my schedule however I wanted

    Cons

    This could quite possibly be the worst company to work for. Everyone is so depressed and I have never met anyone that enjoys their job. They are the butt of jokes in the Pittsburgh community. They are overstaffed and unpaid. There is no communication between the different levels of management. While working there for two years, I witnessed countless employees leave because they were so miserable. The work is not challenging and any experience gained is inapplicable to other firms. I truly feel sorry for anyone who still works there.

    Advice to ManagementAdvice

    Be honest with employees.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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