BNY Mellon Jobs in King of Prussia, PA

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2 days ago

FAA Financial Reporting Manager – new

BNY Mellon King of Prussia, PA

BNY Mellon's Asset Servicing business is dedicated to dynamically supporting our clients' investments and safeguarding their assets, keeping them… BNY Mellon


3 days ago

Operations Processing Project Mgr - Mgd Investments – new

BNY Mellon King of Prussia, PA

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors… BNY Mellon


3 days ago

Account Manager 3 - Mgd Investments – new

BNY Mellon King of Prussia, PA

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors… BNY Mellon


3 days ago

Client Services Admin III - Mgd Investments Ops – new

BNY Mellon King of Prussia, PA

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors… BNY Mellon


4 days ago

RECONCILIATION ADMIN - Mgd Investments Ops

BNY Mellon King of Prussia, PA

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors… BNY Mellon


5 days ago

Reconciliation Ops Manager - Mgd Investments

BNY Mellon King of Prussia, PA

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors… BNY Mellon


5 days ago

Ops Project Mgr Money Mgr Service - Mgd Investments

BNY Mellon King of Prussia, PA

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors… BNY Mellon


16 days ago

Perf Reporting Admin - Operations

BNY Mellon King of Prussia, PA

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors… BNY Mellon


8 days ago

Investment Support Svcs Rep - Trading Ops

BNY Mellon King of Prussia, PA

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors… BNY Mellon


20 days ago

Operations Supervisor - DPM

BNY Mellon King of Prussia, PA

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors… BNY Mellon


BNY Mellon Reviews

2.7
Rating Trends
Recommend to a friend
Approve of CEO
BNY Mellon Chairman, President and CEO Gerald Hassell
Gerald Hassell
505 Ratings
  • Helpful (9)

    Welcome to Office Space

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Control Accounting Specialist in King of Prussia, PA
    Current Employee - Control Accounting Specialist in King of Prussia, PA

    I have been working at BNY Mellon full-time (More than 3 years)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    Good 401k program. Company match and fund selection are good.

    Health benefits are declining year after year, but are still decent if you don't have a lot of health problems.

    Good amount of time off. Two weeks of vacation to start. Another after three years of service and then another week after 10 years.

    Educational resources are good. Tuition assistance with a one-year vesting period. The company also offers a wealth of online classes and training material to learn about various lines of business.

    Cons

    First and foremost - The salaries are not competitive and annual raises are a joke, even for top performers. Our main competitors (SEI, State Street, Northern Trust, JP Morgan) manage to provide similar returns for their shareholders while paying their employees more. Three former colleagues of mine left for competitors and each received significantly more (20-50%) salary-wise.

    Promotions are hard to come by and usually given to managers' personal favorites. Internal mobility and career advancement are supposedly improving, but over the past several years only 30% of job openings have been filled with internal candidates. The raises that come with promotions/moves are not commensurate at all.

    There is a lack of praise for outperformers and discipline for underachievers. Hard workers are usually 'rewarded' with more work to make up for the slackers.

    Bland atmosphere and everyday is almost exactly the same as the one before.

    Layoffs are not uncommon, with jobs frequently being moved to India.

    There is a lack of direction from senior management, although I'll admit that it seems to be improving.

    Senior management heralds 'employee engagement' efforts, but selectively acknowledge feedback, usually only addressing issues that won't cost much to fix. And this leads to my final 'Con'...

    There is a huge disconnect between senior management and everyone else. The current CEO, Gerald Hassell, has been on a cost-cutting rampage since taking over the helm. For the past five years or so, employees have been asked to do more with less (work harder for less money). At first, it seemed necessary due to the economic climate. However, the company is no longer struggling and employees are fed up.
    Employees, including lower level managers and some VPs, have become increasingly open about their distaste for senior management's decisions regarding employee compensation. Mangers and VPs have publicly (via online employee forums and other means) been outspoken in their pleads for more resources to compensate staff, but those requests consistently fall on deaf ears, as senior management dodges and/or denies reality.

    Advice to Management

    Stop gutting the company and compensate employees fairly. Believe it or not, employees realize that senior management is under pressure to produce profits for shareholders. But the go-to method shouldn't be taking money from employees' pockets to add a penny to the quarterly dividend.

    Don't take employees for granted and certainly don't think they're stupid - We read the quarterly/annual performance reports and can see revenue and profits rising while expenses, including salary and benefits costs, are falling.. If you want to cheap out on your employees, just be honest about it instead of promising people the world if they just hang in there a little longer. Staff are becoming increasingly frustrated and are tired of waiting to have their patience rewarded.


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