Bank of New York Mellon Reviews

Pros

Good experience out of college, and lots to learn. Many business areas within company which creates several areas to work and/or be promoted.

Cons

Poor pay versus similar companies, senior management is not candid enough with employees, management does not encourage and recognize hard work, poor bonus structure.

Advice to Senior Management

Spend money to make money and offer incentives to employees at all levels. Increase moral by encouraging and recognizing hard work from the top down.

Pros

health insurance, 401k and other benefits which are few

Cons

No appreciation, no recognition and very low pay scale.

Advice to Senior Management

If management cared things would have changed a long time ago. I worked there 7 years and it only got worse. Weed out bad managers and employees.

Pros

good tuition reimbursement package offered

Cons

too much middle management to wade through

Pros

They pay for your tuitions, life balance in some departments.

Cons

Low salary, no opportunity to grow.
You can only get promoted if you know someone in the company.
The jobs are being outsoursed and people laid off all the time.
Many employees have nothing to do all day long and search internet, but some of them are extremely busy.

Advice to Senior Management

Stop outsourcing American jobs to India and increase hard working employee's pay.

Pros

Very focused on work/life balance
Strong community focus/committment
Many employees are committed to consistently delivering quality service

Cons

Difficulty understanding our brand identity in the marketplace
Poor stock performance
Poor financial performance will result in more layoffs and job uncertainty

Advice to Senior Management

Focus on organic growth, return capital to shareholders, and ensure employees understand what the strategic vision is

Pros

Health Benefits, 401K, paid vacation
Location

Cons

Limitations in growth and promotion
Underpaid in comparison to competitors in the industry

Advice to Senior Management

Pay more attention to employees (mid level)

Pros

Good introduction to the finance industry.
Many programs for intern education.
Friendly and relaxed work environment
Very supportive management
Great feedback from supervisors

Cons

The firm does not do a great job in hiring for full time positions from its pool of summer interns.

Advice to Senior Management

Re-evaluate the intern program and tailor it more as a training program for full time employees.

Pros

compensation was above average and there was room to move laterally in some departments which let you expand client base

Cons

not enough room to grow beyond lateral moves, the management style was stagnant and needed to be refreshed in order to stay interesting

Advice to Senior Management

think about expanding beyond the traditional means of client/employee relationship; employees are capable of much more than is given to them

Pros

Good work/life balance for the majority of job types. Good benefits package though its been getting reduced each year. Family oriented environment and many employees stay with the company for a long time.

Cons

Pay raises are pathetic. For examply in 2010, 2% raise was given to those who outperform the rest. 1% to 0% is not uncommon. Promotions only garner minimal raises such as 5%. Employees do not get properly compensated for superior performance. If you work a lot of overtime it doesnt get recognized in compensation. Therefore, many employees shoot for the 'norm' due to disappointing incentives. Also, underperforming employees do not get fired... Bad performance not properly dealt with. Culture of not wanting to rock the boat makes the company less nimble and competitive.

Advice to Senior Management

Pay your top employees more and fire those who are not performing. Make the company more attractive to top talent in order to grow revenue. Reduce the top-heaviness of senior management.

Pros

Very good work life balance, reasonable benefits, flexibility in terms of occasionally working from home.

Cons

Limited career growth, way too many levels of management. Some very senior managers are not exactly inspiring or seemingly competent. Organization is not setup to reward individual contributors as much as they are setup to reward anyone with a sales type of a position/management type role. In other words, if you are not looking to get into management you have for the most part capped your development and compensation growth.