BNY Mellon

  www.bnymellon.com
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BNY Mellon Reviews in Manchester, England

Updated Mar 7, 2014
All Employees Current Employees Only

2.8 17 reviews

60% Approve of the CEO

BNY Mellon Chairman, President and CEO Gerald Hassell

Gerald Hassell

(5 ratings)

50% of employees recommend this company to a friend

Review Highlights

Pros
  • I also get to work from home when needed, making the work life balance easier to handle(in 114 reviews)

  • Many good benefits, however, management was not proactive in developing talent(in 60 reviews)


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

  • Disconnected senior management who don't communicate effectively (if at all) with the troops(in 46 reviews)

17 Employee Reviews Back to all reviews
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
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    • Approves of CEO

     

    Interview

    Specialist (Current Employee) Manchester, England (UK)

    ProsLovely workmates , room for growth

    ConsPay is not commensurate to the positions

    Advice to Senior ManagementReview salaries

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

     

    Not my cup of tea

    Anonymous Employee (Former Employee) Manchester, England (UK)

    ProsNice offices and decent vending machines

    ConsFull of people who have no clue what they are doing
    If you don't know ''somebody'' or a manager then you are likely to be ignored
    Poor decision making
    Absolutely rubbish pay
    Top level managers have no clue what is going on in the day to day running

    Advice to Senior ManagementStop giving opportunities to the same old people and look at what each individual can bring. A lot of people feel left out as those who have been with the company for ages are deemed important or valuable.

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

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    4 people found this helpful  

    Mediocre

    Fund Administrator (Former Employee) Manchester, England (UK)

    Pros- It looks good on your CV
    - people are impressed by it i.e. those who do not work there
    - you can spin your experience and make the most menial tasks look like you had real responsibility
    - you can learn corporate know how and get inside information about the company

    Cons- The pay is low, very, very poor
    - The senior management are very young and inexperienced
    - There is a culture of anti-intellectualism where having a degree makes you the subject of negative envy and the culture of "do you think you are better than us?"
    - anti-social, cliquey culture
    - homogeneous with mainly local staff members who have a lack of experience of the outside world
    - senior management are distant, unapproachable and there is a blame culture
    - difficult to form personal relationships at work or enjoy work
    - a lad culture and "not in my job description" culture
    - dealing with IT queries is tedious e.g. there is a problem with a computer almost every day
    - working at BNY Mellon is not as attractive as working at Goldman Sachs, Bank of America or Ernst & Young
    - Constantly watched and under surveillance with supervisors logging your mistakes to use against you when possible
    - Long term career prospects are dire
    - Men are immature
    - Senior managers and HR block internal career progression

    Advice to Senior ManagementBeing angry and arrogant creates disgruntled employees. You are not as good as you think you are. Improve your qualifications and personal skills. Stop using buzzwords like "innovation", "professional" and "diverse" - when innovation, professionalism and diversity is present - it really speaks for itself.
    Employ older staff members with more experience than you. You are big fish in a small pond.

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

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
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    • Approves of CEO

     

    Interesting and challenging role as Fund Administrator

    Fund Administrator (Former Employee) Manchester, England (UK)

    ProsThe career development is really good established, as there are many training programmes that you can attend to get new skills. The work-life balance is supported well, and there are some exciting opportunities for volunteering.

    ConsThe remuneration was much less compared to the industry average. It depends on location, but some of the people didn't have enough educational background though were doing job well.

    Advice to Senior ManagementThe company could find better employees from overseas by offering work permit.

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

    • Culture & Values
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    • Senior Management
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    • No Opinion of CEO

    1 person found this helpful  

    A lot of opportunities to learn and develop but remuneration is not motivating

    Anonymous Employee (Current Employee) Manchester, England (UK)

    ProsThe company encourages you to move between departments so there is a lot of opportunities to develop your skills/knowledge. Very good induction process, especially for those without previous experience-gives a good background of the finance industry. Pension scheme on really good terms

    ConsThe salary and bonuses are quite low especially for entry level positions. It is a good starting point for people without experience, but when thinking of a long term career, the salary encourages you to move somewhere else.

    Advice to Senior ManagementReview the wages. The comapny is loosing employees and all the time invested in training them due to low salaries

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
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    Staff engagement is a lie

    Client Service Manager (Former Employee) Manchester, England (UK)

    Prosmodern office, global international exposure.

    Conslong hours, high turnover of staff, old systems.

    Advice to Senior Managementto look after staff more

    No, I would not recommend this company to a friend

    • Culture & Values
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    • No Opinion of CEO

     

    could have been better

    Senior Financial Analyst (Current Employee) Manchester, England (UK)

    Pros-relax environment
    -training opportunities
    -location (for manchester)
    -good name on a cv

    People are nice enough and helpful but there are imbalances between finance teams - some people get a promotion every year while others just stay still. Will go under a reengineering therefore new opportunities may arise.

    Cons-low pay
    -not clear advancement in career

    Advice to Senior ManagementTry to focus on technology

    Yes, I would recommend this company to a friend

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    Plenty of training opportunities, but don't expect to go anywhere

    Anonymous Employee (Current Employee) Manchester, England (UK)

    ProsThe training available to employees is excellent. There is a mixture of self learning, online courses, phone presentations and in-person courses. As a starter coming into the industry without any experience, you can become as knowledgable as you like.

    ConsThe process across regions is incredbly fragmented, with two people on the same job title in the US doing a completely different job to one in EMEA, despite both working together. Though there are attempts to realign this, the situation as it stands is that there are tiny pockets of information which do not filter down.
    The general policy is "do first - ask questions later" where new policy initiatives that affect clients are not thoroughly worked through prior to implementation causing incredible and inexplicable delays.
    Departments are so risk averse that they are often not willing to do things which would ordinarily be part of their remit.
    Processes and Procedures are used to minimise risk, to the extent tha every minute error, even human error is over analysed and then proceduarlised.
    De

    Advice to Senior ManagementStreamline the process across sites.
    Realise that human error can only be reduced, never removed.
    Ensure that any process changes, even at "ground level" are fully prepared prior to implementation.

    No, I would not recommend this company to a friend

    • Career Opportunities

     

    Stable custodian

    Vice President (Former Employee) Manchester, England (UK)

    ProsGood investment in staff And core induction within Manchester base

    ConsMediocre salaries and poor pay structure

    Advice to Senior ManagementBetter communication and objective setting is needed

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    Senior global management need to realise that the Manchester operations are in serious trouble

    Senior Administrative (Former Employee) Manchester, England (UK)

    Pros- I have tried and struggled to find any...at best, this is some banking experience to put on your CV whilst you find something else

    Cons- All the work is extremely mundane; updating spreadsheets, sending out the same emails hundreds of times or chasing people on the phone - unless you reach senior management level there will be no interaction with products, clients etc....don't be fooled into thinking you'll be carrying out glamorous banking work, travelling, negotiating deals...it will not happen. Asset Servicing is all the back office button-pushing work
    - Corporate strategy and the latest managerial buzz words and projects are constantly shoved down your throat only to be dropped again, meetings usually take place just for the sake of having them or because "we've not had one for a while"
    - Employees are promoted according to how long they've been there, or how close they are to the managerial "clique"...I once heard somebody denied a promotion with the excuse that the other candidate "has been here much longer, so it's only fair he gets it." Because of this advancement and career opportunities are hard to come by...promotion from entry level to senior clerk, then clerk to manager will probably take around 7-10 years if you're lucky, and the difference between entry level and managerial pay is much less than £10k. Any further promotion you're looking at decades...
    - the vast majority of people have little or no educational qualifications which is worrying given the vast amounts of money they are responsible for....anyone with degrees in my department was treated with extreme suspicion and contempt. I was once told "a degree means nothing here" and myself and another colleague who came in through the corporate internship and brought in at a senior level were told everyone viewed us as arrogant because of this, and that was the reason no one liked us
    - salary is far below market level and bonuses and pay rises have been virtually non-existent for years. If you actually want to pursue this line of work you may as well go and work at RBS or Bank of America who pay thousands more for exactly the same job
    - Most of the work has been outsourced to cheaper sites like India and Poland which is phasing out jobs in Manchester; yet they still continue to fill job roles when people leave, when their leaving would probably have opened up work for other colleagues. Whilst working there I experienced a consolidation project aiming to eliminate wasteful processes that were no longer necessary. When I suggested merging two daily processes that didn't give two people enough work to do each day I was told this wouldn't be happening as "if we do that there won't be enough work for us"....rather than consolidating the work and moving one person to another team/department
    - The office atmosphere and employee moral is extremely low. Most people don't have enough work to keep them going throughout the day and spend the days trawling the internet or applying for other jobs. Virtually every week several people leave to go and work for the Bank's competitors
    - The hiring process is beyond ridiculous...as long as you turn up and seem relatively coherent you'll probably get the job...people with zero financial experience or interest or those that are obviously going to leave very quickly are constantly hired

    Advice to Senior Management- Management needs to take more interest in the daily work their teams are carrying out and adjusting their hiring processes....if there is not enough work to keep people busy then new work needs to be brought in or people moved on
    - Promotion should be based on merit and what individuals can bring to the role rather than length of service or relationship with management
    - Senior global management need to realise that the Manchester operations are in serious trouble. Terrible pay structure and office environment is leading to people leaving, and this desperation is causing the hiring process to become extremely unprofessional. Outsourcing work is also driving people in Manchester out of their jobs
    The bank might be able to afford to keep turning round jobs but they're also losing expertise which I have seen negatively impact clients and incur costly errors..the Bank needs to bring itself in line with its peers and senior management must become more aware of the people on the ground

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

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