BNY Mellon
2.8 of 5 1,136 reviews
www.bnymellon.com New York, NY 5000+ Employees

BNY Mellon Reviews in Everett, MA

Updated Jun 30, 2014
All Employees Current Employees Only

2.5 31 reviews

                             

20% Approve of the CEO

BNY Mellon Chairman, President and CEO Gerald Hassell

Gerald Hassell

(10 ratings)

36% of employees recommend this company to a friend
31 Employee Reviews Back to all reviews
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    1 person found this helpful  

    Good entry level Company

    Senior Client Accounting and Reporting Specialist (Current Employee)
    Everett, MA

    Pros-Good job to gain experience
    -Laid back culture
    -Friendly management

    Cons-Low salary
    -Really Low Salary
    -Really... really low salary
    -Somehow unorganized management team
    -Lack of growth

    Advice to Senior ManagementX_X.....not point in giving advice..... they are only looking at cutting expenses(People) and all they talk is profit ratios....

    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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    The Loch Ness Monster, Bigfoot, Aliens and Pay For Performance

    Fund Accounting Supervisor (Former Employee)
    Everett, MA

    ProsYou receive a paycheck...that's about all I can say for positives

    ConsWhat do the items in the title have in common? None of them exist, especially pay for performance. Unless you consider a 1% raise adequate compensation for your efforts. On top of that you will have the pleasure of being forced ranked at review time.
    Here is what you need to know:
    Stay out of Fund accounting (CARS) at all costs. This group has been letting people leave without replacing them for years, as part of their cost saving strategy.
    Work is being sent to India left and right.Everyone there is on borrowed time and are acting like it. Many of the managers and especially the senior managers are playing out the string and will do anything not to rock the boat.
    If you make a mistake you will be treated like a mass murderer. You will be forced to come in during blizzards and work past 730 every night.
    Stay out of the third floor bathroom in Everett. It is an abomination. These people have no respect for their bodies much less their coworkers.

    Advice to Senior ManagementTake some of the millions you pocket in bonuses each year and buy a soul.

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

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    2 people found this helpful  

    Are you in the club? If you realize you aren't, get out as soon as you can!

    Client Service Officer (Former Employee)
    Everett, MA

    ProsYou could end up working for a caring boss. Many different departments to work in and transfer to. Cafeteria on site with nice staff.

    ConsIf you aren't in "the club" you will realize it soon enough. There's always favorites in every company, but this one seemed not to be shy about it. Compensation is slightly below average (from talking with counterparts at competitors). No real sense of life/work balance.

    Advice to Senior ManagementFocus more on your employees and understanding what is making them happy or unhappy. Happy employees stay and do good work... unhappy employees stay and do mediocre work or go off somewhere else.

    No, I would not recommend this company to a friend

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    Good entry level position

    Client Accounting and Reporting Services Analyst (Former Employee)
    Everett, MA

    Proscompetitive entry level salary
    generous benefits
    Supportive teams

    ConsLimited internal growth opportunities
    Poor merit increase and rewards

    Yes, I would recommend this company to a friend

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    Avoid until interest rates increase

    Supervisor (Former Employee)
    Everett, MA

    ProsGreat place to start after graduation. Benefits are very competitive, and company offers a generous 401(k) match. Company really does touch every aspect of the financial services industry, which is good exposure for recent grads. The initial training program is great. BNY offers a lot of vacation time. I personally had the pleasure of working with some really great, talented individuals, and made some good friends along the way.

    ConsThis company does not have any decision makers who can drive profits/revenues. Everything is based on market conditions, particularly interest rates. When the rates are low, cost cutting measures are taken to increase spreads. This often means displacements, underpaid and over worked employees. The real issue with this company is the middle management. There are too many people that "survive" by doing the bear minimum. High performers are not rewarded, and in my case, leave. Mediocre performers will always have a job. If you want to come in, do the bare minimum, and not go above and beyond, BNY Mellon (CARS) is the place for you. There is little to no turnover above the supervisor level because of this.

    Advice to Senior ManagementWhile market conditions make the current environment tough for a company that depends on interest revenue, your lack of ability to generate new revenues has had a downstream effect on company morale. Reducing merit increase and salaries to near zero levels, while the board approves their own pay structure, really rubs people the wrong way. Do away with middle managers who don't add any value to the organization. Promote those who actually make a difference.

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

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    Accounting and Reporting Specialist II

    Accounting and Reporting Specialist II (Current Employee)
    Everett, MA

    ProsWork with good people and a decent amount of vacation days. Good place to start but I wouldn't recommend staying for too long.

    ConsLots of favoritism when getting promoted, once you reach a certain level there is no advancement. Underpaid compared to competition.

    Advice to Senior ManagementYou need to give better merit increases per year. A lot of talented people are leaving as they are over worked and not appreciated.

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

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    Good place to start for new graduates

    Senior Client Accounting and Reporting Specialist (Former Employee)
    Everett, MA

    ProsOffer alot of trainings to new employee. I was lucky to join a great team with nice manager/supervisor. Long hours but It was okay to take short break in between to check your phone or do a little bit of internet surfing during slow time as long as your work is done. Great benefits and alot of vacation for new employee

    ConsPay is low for entry level. Annual raise isnt high neither. Not alot of promotion unless someone is leaving the position. The work is reasonable but can become extremely overwhelming when a teammate quitting or on vacation. Clients arent always nice.

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    Terrible

    Supervisor (Current Employee)
    Everett, MA

    ProsAbsolutely Nothing. Place is terrible.

    ConsAbsolutely Everything. Place is terrible

    Advice to Senior Managementyou suck at basically everything.

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

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    Been here since college, ready to move on. I am drained.

    Senior Accounting and Reporting Specialist (Current Employee)
    Everett, MA

    ProsRelaxed laid back atmosphere. Friendly management, staff. The work load of each day is different, so it is nice to have a lite work load on certain days. Large nice building.

    ConsThe pay is not good, the benefits are not good, work/ life balance is unheard of. The upper management has favorites and it has been very hurtful at times.

    Advice to Senior ManagementListen to your employees before they quit. Fairness is important, but there are some times when rewarding those who work harder than others is OK.

    No, I would not recommend this company to a friend

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Glassdoor is your free inside look at BNY Mellon reviews and ratings in Everett, MA — including employee satisfaction and approval rating for BNY Mellon CEO Gerald Hassell. All 31 reviews posted anonymously by BNY Mellon employees.