BNY Mellon
2.8 of 5 1,129 reviews
www.bnymellon.com New York, NY 5000+ Employees

BNY Mellon Reviews

Updated Jul 9, 2014
All Employees Current Employees Only

2.8 1,129 reviews

                             

60% Approve of the CEO

BNY Mellon Chairman, President and CEO Gerald Hassell

Gerald Hassell

(318 ratings)

44% of employees recommend this company to a friend
1,129 Employee Reviews
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Review Highlights

Pros:
  • "I also get to work from home when needed, making the work life balance easier to handle"
    in 103 reviews
  • "Many good benefits, however, management was not proactive in developing talent"
    in 61 reviews
Cons:
  • "No room for growth, once someone gets to middle management, the career growth is shut off"
    in 23 reviews
  • "Disconnected senior management who don't communicate effectively (if at all) with the troops"
    in 44 reviews
  • Show more review highlights

Reviews

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    Good for entry level, then get out

    Fund Accounting Supervisor (Current Employee)

    ProsStable Job, Complimentary coffee, Good reputation

    ConsNo bonuses
    Terrible internal promotion structure
    Better to be an outsider than an internal employee because of horrible caps on promotions

    Advice to Senior ManagementStop playing favorites. Grudges are held. Cheap is not being efficient, and the company does not know the difference. merit increases do not keep up with rate of inflation.

    No, I would not recommend this company to a friend

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    Welcome to the machine

    Associate Client Service Manager (Current Employee)
    Houston, TX

    ProsWall street perception of the company is positive, breadth of reach is enormous, stock has been a good performer.

    ConsToo big to fail has its challenges. Take it or leave it culture locally. Operations management approach to a service with many solid competitors.

    Advice to Senior ManagementRemember that your employer has a $40b+ market capitalization.

    No, I would not recommend this company to a friend

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    3 people found this helpful  

    A-typical large, bloated company

    Current Employee (Current Employee)
    Everett, MA

    ProsThe company has some perks. The benefits are pretty good (though the company basically cut health benefits in half, surreptitiously, this year and simply laid the blame on Obamacare, which is doubtful), vacation time is actually very good (a perk that's hard to let go of for those with 5+ years under the belt), and work-life balance isn't discouraged (though efforts to outwardly advocate for it are typically followed with a, "...but,..." as in, "You can leave 3 hours early to pick up your kid from school, but you should probably stay late tomorrow." Getting the bank holidays off doesn't hurt.

    ConsSalaries at BNYM are a complete joke, as raises and merit pay have been relatively non-existent since 2007. The company does well each quarter, but typically misses Wall St. expectations, which has left the stock price stagnant. We are handed down the 'bad news' and we must do everything in our power to right the ship (basically trying to convince employees that the low wage and layoffs are for the greater good...they're not). Along with that, a lot of the 'perks' listed above are in response to the complete lack of employee happiness. The company knows that employees are not happy, but instead of reinvesting in employees they...let us wear jeans all week. Seriously. They are placating employees, but the fleeing of talent has already started and will only get worse.
    Middle management is completely bloated with lifers that just kind of 'get by' and do little (until their boss cares about something, then it's priority #1). Heavy office politics play out constantly (managers playing favorites, promotions and opportunities given to said favorites). Supervisors and managers do anything but manage and supervise (more often than not cleaning up a mess that resulted from their lack of oversight). Training for job-specific activity is non-existent after initial on-boarding, which leads to a lot of people blindly navigating job functions (if they're being navigated at all). Along with that, managers and supervisors do not take any type of active interest in people forwarding their knowledge or career, basically because they have no incentive to do so. Do something well, and you'll be lucky to get a "Good work," from your manager. Mess something up, and you'll be in a closed-door meeting soon enough to 'talk' about the error. All of that leads to lack of opportunity. Very rarely is anyone ever promoted up the chain, just doesn't happen due to the aforementioned lifers. Most people just waste away for as long as they can get by.

    Advice to Senior ManagementEnough is enough. Start focusing on the boots on the ground, the people that are the future of the company. Raises need to come back in full, and should cover some of the shafting from the last few years. Make it a priority for managers and supervisors to work DIRECTLY with their employees on training and career paths, and don't turn it into a, "Let's find out what you're doing wrong," discipline session (counterproductive).

    No, I would not recommend this company to a friend

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    1 person found this helpful  

    Fragmented, Difficult, in Need of a Major Culture Overhaul

    Managing Director (Current Employee)
    Pittsburgh, PA

    ProsMost people are hard working and dedicated, if underpaid.

    ConsAt first, things were ok, but over time, the experience degraded with further bureaucracy, red-tape and a fragmented business model that trickles down through every aspect of the business. There is little to no control from the top, every business unit is allowed to weigh in and have a say in every decision which has the obvious negative effects of impeding progress and making it challenging if not downright impossible to streamline core systems, functions, etc.

    Advice to Senior ManagementAll, please allow your experts to make the decisions closer to the line. Your operating model is failing and its costing you money.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Big Bank. American Bank... Outsourcing.

    Anonymous Employee (Current Employee)

    ProsDepending on your manager, your life can be great with a good balance of work and life. IF you don't get a micromanager your job can be fulfilling as well.

    ConsThey have no real sense of expansion in the technology realm. Big bank... little to no technological innovation. Who deals with large funds without the development and integration as well as continued maintenance of automated systems? Outsourcing 20% of State Side Jobs to India... while MD's and above get pay raises?

    Advice to Senior ManagementIf you keep outsourcing you'll no longer be an American bank... good luck with that.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    1 person found this helpful  

    Good overall, but can be a very cut throat environment with little change to grow.

    Investment Accounting Supervisor (Current Employee)

    ProsPaid vacation, can learn a lot if management likes you and wants to show you.

    ConsLong hours, management with dog pile work on their "Good people" until they eventually leave. Give the "not so good people" an easier workload instead of training them or letting them go.

    Advice to Senior ManagementAsk your Managers and Directors to be more hands on with the staff and "walk the floor". I've been at my job for 9 1/2 years. The last 3 years I have been in a new group and while in this group I've had 4 conversations with the Director of this group. That's right, we've talked 4 times in 3 years and the only reason we talked was because something was wrong.

    No, I would not recommend this company to a friend

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    was very interesting to learn so much about banking

    Senior Secerity Clerk (Former Employee)
    East Syracuse, NY

    Proswell the best thing about working there was learning more about banking, and being in a group where we all have a common goal to be the best that we can be

    Constraining is iffy, it seems know one has time to give you proper trainig

    Advice to Senior ManagementI think they always tried to keep us up on coming events .

    Yes, I would recommend this company to a friend

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    Started out great as Bank of NY hire - ended with layoff as BNY Mellon moved everything to Pittsburgh

    Senior Level Role In Human Resources (Former Employee)
    New York, NY

    ProsBank of NY benefits were 2nd to none; work life balance; people; my leadership team; diversity; reputation; culture

    ConsMellon changed everything - benefits declined; severance offering cut in HALF for most; Pittsburgh infused culture as everything in NY was migrated to Pittsburgh; less emphasis on quality; wrong people in high level jobs.

    Advice to Senior ManagementWhile I understand the need to be cost efficient, that does not mean laying off the All-Stars from NY and replacing them with mediocre talent in Pittsburgh. You get what you pay for and I know you are realizing that now. Hire where the talent exists or at least consider relocating key talent to your growth centers - maybe some will actually consider relocating to the new mother ship.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    The company has changed drastically.

    Applications Developer IV (Former Employee)
    New York, NY

    ProsCoworkers were great to work with. Environment was good, with many employees there for 10 - 15 years or more. Very knowledgeable group of people. Good 401k. Interesting work. Did a pretty good job of training employees after the Irving Trust takeover.

    ConsPay was always lower but profit sharing at the end of the year made up for it. Profit sharing was terminated but salaries never got any better. Second line manager was disinterested in the careers of the people who worked for him. After Mellon merger considered operations in New York (and suburbs) an expense and not worth the cost. I trained 2 people to take my job.

    Advice to Senior ManagementProvide career paths for employees. Engage employees. Regular skip level meetings would be a good.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    I am optimistic

    Debt Service Analyst (Current Employee)

    ProsWork/ life balance and potential for growth because of "pending situations in certain departments"

    ConsOffice culture and they hire way too many people who are undereducated. It should be required that people have at least a bachelors degree in some roles. Who cares if you've been there 20 years? Most people who are undereducated who have been here forever are not contributing and are over paid.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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