BNY Mellon Reviews

Updated April 18, 2015
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278 Employee Reviews

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  1. Lack of corporate direction and vision. Negative year-over-year compensation.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President in New York, NY
    Current Employee - Vice President in New York, NY

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

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    Good location particularly for anyone in NJ commuting on the PATH. There is a decent 401(k) matching program. Good vacation benefits (4 weeks for VPs).

    Cons

    Employee compensation in real terms has been negative for the past 4-5 years. The employee cost of benefits has also been steadily climbing further eroding compensation. There is a recurring theme of doing more and more work with fewer and fewer people. There is no relationship between performance, compensation and promotions.

    Advice to Management

    Invest in your people, systems and infrastructure.

    The firm's performance is mediocre at best in most of its business. Decide on which businesses you want to be in long-term (again 5-10+ years). Invest heavily in those area to become the best and divest of the business not in alignment with that strategic vision.

    Drastically restructure the executive management compensation structure to align it with the long term performance of the company (5-10+ years) rather than just year-over-year measures. The executive compensation should also be consistent with overall employee compensation for the year.

    Allow investors to vote on the compensation of the executive management team.

  2. Helpful (1)

    BNY mellon is a good place to start your career but not to end your career

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Asset Servicing in New York, NY
    Current Employee - Asset Servicing in New York, NY

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

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

    Pros

    Relaxed work environment, great people to work with, good training, decent hours depending on which department, exposure to different kinds of people and personalities.

    Cons

    No opportunity to excel, company gives horrible raises and lucky to even get a bonus, very narrow exposure on different business sectors, sometimes office environment can be very informal.

  3. Accountability is hard to find

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Associate in New York, NY
    Former Employee - Senior Associate in New York, NY

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

    Doesn't Recommend
    Positive Outlook
    Doesn't Recommend
    Positive Outlook

    Pros

    Flexible work hours,cordial, low work pressure which is good for family life etc.
    Decent health benefits although appeared to be lessening in recent years.

    Cons

    Slow to seize business opportunities. Deeply entrenched middle management structure. Thrift mentality stifles innovation and idea generation from employees with an ambition to think strategically. More emphasis on tenure vs meritocracy as related to promotions, internal transfers and compensation/reward. Errors, mistakes and failing to execute are tolerated with little attention paid to accountability. Excessive hiding behind bureaucratic processes hinders effective decision-making and leads to competitive disadvantage. Career development in name only with a high proportion of managers lacking genuine interest in staff development. Career development is approached procedurally, not substantively, with little quality investment in career-pathing on a sustained basis. Technology is severely outdated.

    Advice to Management

    Much more emphasis on genuine career development of talented graduates. Greater scrutiny of the level of contribution being made by senior business managers. Needs to be much more investment in strategy and much clearer characterization of the vision of the firm. There is no disclosed vision statement.

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  5. Nice to work there.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Quantitative Analyst in New York, NY
    Current Employee - Senior Quantitative Analyst in New York, NY

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Easy life style. Balanced work/life.

    Cons

    Somewhat politics play an important role.

    Advice to Management

    Be more aggressive in compensation to stimulate the 20% true work force.

  6. An elephant that can't dance but has solid footing

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Wealth Management in New York, NY
    Current Employee - Wealth Management in New York, NY

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

    Recommends
    Neutral Outlook
    Recommends
    Neutral Outlook

    Pros

    Company stays out of the news media spotlight. One of the most secure companies.

    Cons

    No perks. No lunch room. No fun. We come to work and sit all day alone in our offices communicating with our computers. Employees are still pissed that the Board paid the last CEO $34 million to go away, even though they never should have brought him back.

    Advice to Management

    This market has humbled you. Stay that way.

  7. Great Place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Analyst in New York, NY
    Former Employee - Analyst in New York, NY

    I worked at BNY Mellon full-time (less than a year)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Great work environment, great benefits, good pay.

    Cons

    Occasionally,you will have to work long hours.

    Advice to Management

    Keep up the good work.

  8. Programmer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Associate in New York, NY
    Current Employee - Senior Associate in New York, NY

    I have been working at BNY Mellon (more than a year)

    Recommends
    Neutral Outlook
    Recommends
    Neutral Outlook

    Pros

    Great place to work and build your career

    Cons

    to much red tape involved

    Advice to Management

    listen to others on how to do things

  9. Old time BNY'ers are on the way out

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - IT in New York, NY
    Current Employee - IT in New York, NY

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

    Doesn't Recommend
    Approves of CEO
    Doesn't Recommend
    Approves of CEO

    Pros

    Old Time BNY'ers try to continue with the culture of working together

    Cons

    The Mellon culture is taking over

    Advice to Management

    rebuild the BNY culture

  10. Helpful (3)

    A Really Bad Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President in New York, NY
    Current Employee - Vice President in New York, NY

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

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

    Pros

    Benefits are decent. Pension plan and 401K plan with up to 5% company match. Health benefits were good, but are now deteriorating.

    Cons

    Just some of the worst management that I have ever seen. Senior management is not engaged at all in the day-to-day operation of the company. They are not typically seen and they don't set priorities in any way that describes or affects what line workers, and by line workers, I can mean vice presidents, do or are responsible for. From my vantage point, neither senior or middle management has much understanding of the issues and problems which prevent BNY Mellon from advancing, even in areas where management claims to understand that improvement is necessary. Worse, it seems that they don't want to know or understand the issues. Rather than identification, detailed strategizing on remedies and then contemporaneous management of factors where the company needs to improve, much emphasis is placed on "road shows", events and marketing of fuzzy solutions to employees. While I agree that much needs to be done to lift the spirits of employees, as there is a malaise which exists there among the employees that anything can truly be different, as the bank seems to have been mismanaged for decades, the demeanor of employees will start to change when they see that long-standing problems are finally being recognized, discussed openly, and addressed.

    Management is content with a "hands-off" strategy, often purchasing software to take the place of contemporaneous management, measuring the wrong things, insane cutbacks in staffing and/or materials or infrastructure.

    Meaningful education and training is seriously lacking. In technology areas at least, where specific technical knowledge is required, and the field is changing rapidly -- perhaps a good up-to-date technologist needs to gain control of 20-30% new information a year -- training which is meaningful and specific to work that the technologist is responsible for knowing is very difficult to come by, particularly if it must be paid for to an outside party. Yet, much lip service is given to training especially since it was the source of much employee dissatisfaction in previous employee engagement surveys. What has resulted is that the employee is responsible for acquiring 18 hours of training and is rated on it, usually without any serious training budget. This means that he must scrounge free education, seminars, vendor indoctrination, etc., which is not the training that most need. In this sense, management is working against its line technology workers and even against its own long-term interests.

    Our new president sent an email that they are planning a new education initiative called BNY Mellon University. There were no specifics and no statement of how this university would be different from the current offerings for in-house education. I would think that such an announcement could wait for some details, some framework and some description of what gap the university would fill that the current education offerings lacked.

    Advice to Management

    Direct involvement in the company is more than developing a superficial checklist and checking all the boxes.

    Recent activities, such as the superficial manner in which results of the employee engagement survey were presented are entirely dissatisfactory and even a step backward from what was established under the previous CEO. A one-page summary of the results obtained from a 50 or so question survey of 45,000 employees and with no true specificity on either the results, nor the conclusions obtained from the results, nor the way forward, is clearly inadequate.

  11. Large organization with strong balance sheet and opportunities for growth

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Contractor - Senior Project Manager in New York, NY
    Current Contractor - Senior Project Manager in New York, NY

    I have been working at BNY Mellon as a contractor (more than a year)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Large organization with strong balance sheet
    Good inhouse training opportunities
    Good work life balance

    Cons

    Not an innovator
    People are good but not very entrpreneurial
    Silos within the bank make it difficult to get things done and to get certain groups to take ownership
    Cannot easily process anything that is out of the ordinary

    Advice to Management

    Incubate innovation in smaller groups

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