BNY Mellon Reviews

Updated October 19, 2014
Updated October 19, 2014
1,271 Reviews
2.8
1,271 Reviews
Rating Trends

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

Review Highlights

Pros
  • Good work-life balance in my department, but not in all areas of the company (in 129 reviews)

  • Many good benefits, however, management was not proactive in developing talent (in 77 reviews)


Cons
  • No room for growth, salaries at lower end in the industry and merit increases are close to zero (in 29 reviews)

  • All the hard works we done are not appreciated by the senior management of the company (in 51 reviews)

More Highlights

187 Employee Reviews Back to all reviews

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  1. 1 person found this helpful  

    Shoot the messenger style of management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Supervisor in Jersey City, NJ
    Current Employee - Supervisor in Jersey City, NJ

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

    Pros

    Almost impossible to get fired. Bank continues to cut affiliates headcount and sending jobs to low cost areas such as Chennai India, Piittsburgh, Florida.The US staff always needs to babysit the India staff and redo the work because they are incompetent. Nothing will change because the CIO is from Chennai.

    Cons

    While business continues to do well(so we are told constantly) management continue to cut headcount while signing more complex customers and the pressure on remaining staff is horrible. The promotion process is a joke. It takes 3 months a year and multiple committees to review all promotions. If you are lucky to get promoted do not expect more money. You should be happy they gave you more responsibility and your family never sees you.

    Advice to ManagementAdvice

    If you care about employees, s you state often, give money with a promotion. Stop asking for multiple ad hoc reports of staff that are busy running the business. If you invest in centralized tools then use them.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  2.  

    the worst company i have ever worked for.

    • 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

    none at all, oh, leaving at 5 everyday because no one is willing to stay even an extra minute for a company that treats you like nothing.

    Cons

    bonuses only for higher ups, 1% raises after having to fight for it, low morale all around, roaches in the bathrooms, NO COFFEE, no refrigerator, napkins--no proper pantries

    Advice to ManagementAdvice

    this kind of ultra right wing thinking gets you many more employees than you need because they are unhappy and unwilling to work hard for you.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  3. 3 people found this helpful  

    No Direction

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

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

    Pros

    One of the largest employers in Pittsburgh. Huge financial company with locations all over the world. Largest custody bank and asset manager in the country. Nelson Peltz a activist investor might save this company from the current executive management running the company into the ground.

    Cons

    Horrible salaries with no salary growth. This company has jobs not careers and career opportunities are very limited The majority of jobs translate into nothing outside of the company. Very poor leadership, in fact this company is comprised of the typical narrow minded "wall street" managers that think nothing exists outside of New York city. Very poor leadership with faceless executive managers. There are no leaders just mangers in this company.

    Advice to ManagementAdvice

    Start paying a real "living wage". Become a leader in the financial industry by offering your employees more career growth and salary instead of following the rest of wall street. Completely gut and redo the executive management committee and give the larger regional hubs that do all of the work (i.e. not New York city) a voice and representation on the executive committee.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5. 1 person found this helpful  

    Too much work and too stressful

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

    I have been working at BNY Mellon full-time (more than 8 years)

    Pros

    Free parking. Flexible work arrangement. Casual dress code.

    Cons

    No work-life balancing at all. Average pay is below job market. No personal career growing opportunity.

    Advice to ManagementAdvice

    They won't listen anyway!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 2 people found this helpful  

    Not the place you want to be

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

    I worked at BNY Mellon full-time (more than 3 years)

    Pros

    Benefits are good, vacation time. Advancement early, but non-existent shortly into your tenure.

    Cons

    Money is pooled; the less management pay their employees, the more they get. Management is out of touch.

    Advice to ManagementAdvice

    Invest in your employees!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 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 (more than an 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
  8. 6 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 (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
  9. 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 (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
  10. 1 person found this helpful  

    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 (more than an 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
  11.  

    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 (less than an 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

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