BNY Mellon

www.bnymellon.com

BNY Mellon Reviews in New York, NY

Updated January 29, 2015
Updated January 29, 2015
1,430 Reviews
2.8
1,430 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
BNY Mellon Chairman, President and CEO Gerald Hassell
Gerald Hassell
442 Ratings

Review Highlights

Pros
  • Good work-life balance in my department, but not in all areas of the company (in 136 reviews)

  • Many good benefits, however, management was not proactive in developing talent (in 77 reviews)


Cons
  • No room for growth, salaries at lower end in the industry and merit increases are close to zero (in 32 reviews)

  • Plenty of talk but no regard for work life balance (in the technology sector) (in 23 reviews)

More Highlights

260 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1. 2 people found this helpful  

    Maximum 2 years then get out

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

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

    Pros

    Work is easy. Does not require any financial service experience at all.

    22 out of 30 days of the month you do about 3 solid hours of work a day.

    I had the privilege of working with a great group of people in an extremely casual laid back atmosphere.

    Just get your work done and no one bothers you.

    Great job for recent college grads to get experience in a corporate setting and learn BASIC office skills. Stay 2 years MAX then leave.

    Cons

    Compensation is pathetic considering geographic cost of living. Annual raises don't even keep up with inflation so you're actually losing money in the long run.

    Work is mundane and not challenging.

    Jobs are going to Florida, Delaware, and India.

    When people quit, they are not replaced. Those who are left are forced to do the extra work. God help you if someone calls out sick or goes on vacation.

    Advice to ManagementAdvice

    There are few senior managers that actually care and recognize hard work. most are MORONS who make 6figures and don't do anything but update their fantasy football rosters.

    Advice is to compensate better and distribute work evenly. Higher employee satisfaction equals less job turnover.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2.  

    Not that bad if you're willing to accept subpar pay rates.

    • 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 3 years)

    Pros

    Commute is pretty good for a city job. Impossible to get fired save for layoffs. Work environment is fairly stress-less and if you're in a tight-knit group, you're golden. Fairly consistent schedule (not too many unexpected late nights) so work/balance life is a bit better. Good recognition from the bosses (though this is really just my department - can't speak for others).

    Cons

    It takes forever to get things done because everything has to go through this complicated process where if someone doesn't like something, we have to start at square 1 again. While I said it's impossible to get fired, that's also a con. I feel like a lot of employees here were rejects compared to counterparts in better organizations. You wonder every day how some of these people ever passed an interview to work here. The worst part about BNYM is the extremely laughable pay. Benefits are good, but salary is near poverty line for many entry level NYC employees. It seems the trick is to work somewhere for a few years, then come back to the bank. Someone fresh out of college who works for BNYM for 6 years might make 45000 a year while someone who worked somewhere else for 2 years (regardless of pay figures there) then switching to BNYM might make 55000 after another 2 years.

    Advice to ManagementAdvice

    There's a lot of "fat" within certain groups of the company. Some departments can easily be done away with and the business would continue. Give better base pay for employees and be in tune with competitors' starting salaries.

    Recommends
    Approves of CEO
  3. 8 people found this helpful  

    Be prepared for bad salary and horrible promotions

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

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

    Pros

    Good Working Hours, Decent Vacation time, Decent benefits, Good diversity and infinity networks

    Cons

    Poor management period. The people who do work hard, don't get promoted. Meanwhile, the people who do get promoted take their friends with them to the top when they shouldn't be. Horrible office politics. Very old school mentality. Horrible systems to work with and way too many of them, nothing is streamlined correctly. Pay is awful and is based on management discretion, which again they give out raises and bonuses to their favorites and are not based on merits or hard work. They tend to promote from within, even if there is no one who is fit for the job, instead of going outside of the company for someone with better skillsets - which leads to employee dissatification, resentment and overall laziness. They keep employees with horrible work attitudes and poor work performance instead of hiring new blood with better overall morale.

    Advice to ManagementAdvice

    Trim the fat, get rid of employees with bad attitudes and bad work morale. Hire managers who actually have experience instead of promoting people who don't have the right experience. Have better reward systems for people who do work hard. Pay what your competitors are paying or better!

    Doesn't Recommend
    Disapproves of CEO
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  5. 2 people found this helpful  

    OK if you want a job in India

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

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

    Pros

    Fairly stable and ok if your ambitions are low.

    Cons

    If you are in the NYC area, they are trying to move staff to low cost areas i.e India, Florida. They won't pay relocation and really want high paid staff gone. You get what you pay for. Any new opening has to go to India.

    Advice to ManagementAdvice

    Stop telling staff that you can get the same work done in India cheaper and better. Losing good talent.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6. 2 people found this helpful  

    This is a good place to start or end your career, if you're a go getter this isn't for you.

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

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

    Pros

    Convenient location and good colleagues

    Cons

    Lack of upward or even lateral mobility. Pay has been stagnant for 4 years, benefits have been cut, low morale, change is slow and painful. Oh and they still use manual time cards!!!

    Advice to ManagementAdvice

    Engage employees more, compensate employees better (not just money but more complex duties and promotions). Senior management have town hall meetings to discuss the company goals on a larger scale but these are not necessarily translated to lower management and general employees.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7. 3 people found this helpful  

    Just be happy you have a job!

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

    I worked at BNY Mellon full-time (more than 10 years)

    Pros

    Good vacation time, decent benefits, some good people are still with the firm.

    Cons

    Terrible management across the board. Mangers spend all their time working on and cutting the budget. No people skills whatsoever. Be prepared to be treated with indifference until things go wrong. If you are a prospective employee do your homework on the department you are interviewing with before accepting an offer.

    Advice to ManagementAdvice

    Send the managers to mangement training. Get feedback from employees about how to improve morale. Invest the time coach and mentor employees. Increase pay, it's too easy to get an increase by changing jobs.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    Overall, a satisfying experience.

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

    I worked at BNY Mellon full-time (more than 10 years)

    Pros

    Good use of technology and good employee benefits. Quarterly technology review meetings keep everyone up to speed on the bank's use of technology.

    Cons

    Merit increases not worth the wait. Bonuses used to reward good work, but even they became small. Training was encouraged, but mostly through online courses.

    Advice to ManagementAdvice

    If you are not going to provide decent merit increases try rewarding through other means, such as telecommuting.

    Recommends
    Positive Outlook
    No opinion of CEO
  9. 2 people found this helpful  

    Pretending to be something it is not

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

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

    Pros

    Fairly good job security, especially if you live in India or Pittsburgh
    Good work/life balance for most departments
    No/few opportunities to advance results in less pressure

    Cons

    The company takes being cheap to all levels (no room in the budget for a blackberry)
    Do more with less has become dogmatic
    It attempts to be an investment firm without investing in resources then wonders why it is not a good investment firm
    Conflicts of interest are significant, resulting in pushing bad product on clients
    Inability to consistently live up to our fiduciary duty to clients is bad on morale

    Advice to ManagementAdvice

    Divest the company of the investment portions of the firm. You are doing a poor job at it and will eventually be sued/prosecuted for not living up to our fiduciary duty
    Stick to what you know best, trusts, taxes and custody
    Stop sending employees emails for donations into Super PACs. It further illustrates the chasm between what is important to you and us.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Excellent Firm - Excellent Values

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

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

    Pros

    Everyone works together at all levels. A firm you will grow with and build long lasting relationships. Change may not be immediate depending on improvement, but you will know it's forthcoming.

    Cons

    Sometimes the work load can get so heavy it difficult for one person to accomplish everything, this can be discouraging

    Advice to ManagementAdvice

    Bring in more people in areas where just one person cannot handle the work load

    Recommends
    Positive Outlook
    Approves of CEO
  11. 3 people found this helpful  

    BNY Mellon Marketing Department

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

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

    Pros

    You don't see the knife before they stab you in the back!!!!
    If your a great ass kisser and say yes to every thing your in!
    Very diverse company, if you have special needs you can become CEO

    Cons

    Managment is phony and lie right to your face.
    Not very innovative firm, stuck in the past.
    Very poor low moral in a cut throat environment and most departments
    A non American culture, high hindu hiring insourcing/outsourcing

    Advice to ManagementAdvice

    Know your employees for their skill set and learn some real managment skills. Managment is jaded and complain to employess about equals or higher ups. HR should use this department for violation practice.

    Doesn't Recommend
    Negative Outlook

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