Bank of New York Mellon Reviews

Pros

First 2 years were good, lots to learn, easy to learn, good benefits, decent starting salary

Cons

Little Growth opportunity, little salary increase, little chance for advancement

Advice to Senior Management

Take better measures to retain smart, talented people. They are disenchanted by the managers.

Pros

People are decent
Organization is relatively strong in the financial services industry
NEW CEO is making a point to show he's committed to the company and to be bringing a fresh approach.

Cons

Ossified thinking and exaggerated fear of risk stifles innovation
Unfair performance ranking system and sub-par compensation for star performers
Shamefully low percentage of women in upper management
Many employees skeptical that new CEO will bring needed change.

Advice to Senior Management

Employees feel performance isn't recognized--esp among women.
And offering more than $20 million in a severance package to a failed CEO while employees see their spending power eroded over the past three years is not the way to keep talent.

Pros

the company is very risk averse, some groups are very nice. the upper management is accessible, and essentially any problem can be discussed with them, however that doesn't mean they will jump on top of it.

Cons

the technology is clueless, not very helpful.
the food is overpriced, very bland and poor selection.
the decor is horrendous

Advice to Senior Management

THere should be more communication with the staff, and not in reporting manner, but rather in such a way that allows staff to speak on any issues.

Pros

Busy and challenging, without being impossible

Cons

Busy is still busy... can be exhausting

Advice to Senior Management

Hire more knowledgeable employees and less contractors. Teaching a contractor who is gone in 6 months is a waste of time.

Pros

Stable company even during poor economic conditions
Ethical environment
Conservative management

Cons

Company is squandering opportunity to take more market share in areas of strength
  -too much focus on cost cutting
  -company should be doubling down on medium and long term strategy
 Too many middle managers
 DISPARATE MGT REPORTING STRUCTURE

Advice to Senior Management

-Cut out the dotted line reporting structure. A lot more can get done and fast. If its a wrong decision, then it can also be fixed faster.
-too many managing directors. They make great meeting attendees but what do they do?
And no management consultants! We are smart: can identify our shortcomings and act to remediate

Pros

benefits, some flexibility, vacation, holidays

Cons

poor management, lack of coaching/feedback

Advice to Senior Management

more communication

Pros

Friendly atmosphere and easy work environment. YOu will never be in over your head.

Cons

Very boring atmosphere and not a ton of young people. You won't get paid very much but don't have to do much.

Advice to Senior Management

Just make it so there are more incentives to achieve above and beyond besides just the basic salary that is given.

Pros

Pay is increased when bringing experience, perhaps your 2nd or 3rd job. Extremely stable company

Cons

Low pay for people just beginning, long way to climb, slow advancements.

Advice to Senior Management

Communication with lower staff can be better. Overall, the foundation is great.

Pros

The company name looks great on a resume, vacation time, the benefits are decent, training is available but the training prepares you to go elsewhere

Cons

If you are hard working, intelligent, determined, you care about the quality of your work, are honest and will not sacrifice your integrity The Bank of New York Mellon is not the place for you. If you are someone who is looking for a career not a job but a career that offers endless growth, opportunities, and room for advancement The Bank of New York Mellon is not the place for you. The only way to advance in this organization is to know someone in upper/senior management or become a “teacher’s pet”. Throughout the years I have seen individuals be promoted on the basis of…I have no clue, but I do know that promotions are not based on knowledge, skill or expertise it’s all about whom you know not what you know. Office politics is most definitely at its best here.

The compensation is significantly below the market rate, to be exact compensation is pitiful and downright pathetic. The raises are minuscule, you will probably find more cash in the cup holder in your car than what you would receive as a raise. Outperformers are not compensated, appreciated or recognized as they should be.

The office environment is daycare for adults, management hand holds and makes excuses for the incompetent adults instead of immediately addressing the individual or firing them. Management does not reward the hard workers the incompetent receive all of the attention, intelligence is not rewarded or required here.

Advice to Senior Management

Do not ask for your staff/worker bees to have a certain skill set when management doesn’t have that skill set. All managers should know their employee’s jobs so that they can actually answer a question that someone asks them. Employees want to be rewarded with decent raises and bonuses not boring team building exercises and $5 gift cards. Give credit where it’s deserved recognize the hard workers, remove the weak links. Don’t promote people because they’re good at kissing behind. I can’t reiterate enough reward your top performers!! Turnover is at an all time high, this company needs to take a good long hard look as to why the good employees are leaving. The answer to that is right in the front of you in the form of Management.

Pros

The staff is very helpful to each other and management is very accommodating and flexible. Everyone is generally professional and polite.

Cons

Being in a regional office can some times make it hard to get in touch with upper management and things like the IT department.

Advice to Senior Management

I think the office is generally run very well. Keep doing what you're doing and people will stay happy like they are currently.