Bank of New York Mellon Reviews

Pros

One of the reasons to work at Bank of New York is that it's a good place to learn your mortgage documents if you dont know them or have never been in mortgage and another reason is you know you will receive a payroll check twice a month.

Cons

There isn't any room for growth.

The ones that seem to get new position lateral or not have to be buddies of a buddy in management in order to get the position. There are also times when someone has another position before it's posted, after which they will post it knowing the whole time they already know who they want. That's not cool at all.

The security is--well just stand up and look right out into the waiting area,,,It's all glass..so no need to lie and say he/she isn't in...cause hello they can see you.

Advice to Senior Management

Get proper training for those new to management. Also, give a refresher course to those that have been in management for a while on how to treat and speak to those they manage. Not everyone is okay with being treated like a five year old. They should also know that being a member of management does not mean you get to be disrespectful to others

Pros

At the time, the benefit package was excellent, the work week was normally 40 - 50 hours, and the co-workers were the best.

Cons

Within the group I was in, Senior Management was not trustworthy, staff was not treated equally (and obviously so), tempers tended to rage as though the employees were children....and this was tolerated by the next level of management.

Advice to Senior Management

Take a hard look at how people are treated...all people...and by whom they are treated in different fashions. Demand your management have the 'people skills' you are requiring your staff to have.

Pros

Work-life balance is good
Work environment is not stressful
Large Company, experience can be quite valuable
Policies have become more in-line with industry in the last few years (the "9-5" mentality is not as prevalent as it once was).
Benefit package is competitive
Vacation policy is generous
Prestigious location
Many wellness initiatives are available to employees

Cons

Career development is not clear

Pros

Relaxed working environment
Not a mentally tough job
Get some 'big corporation' experience that looks more valuable on a resume that it is

Cons

Pay is pretty low
Promotions are fake. ie same job, new title, measly 3% raise
Don't expect to transfer departments if you do your job well

Advice to Senior Management

Don't offer fake promotions to lock in an employee for an extra year. They'll go elsewhere

Pros

Ability to be exposed to different fields and practices
Global company with businesses worldwide
Relaxing work environment

Cons

Lack of an organized training program
Below average compensation
Lot of bureaucracy

Pros

- Name recognition
- Good career opportunities and professional development
- Benefits package is decent but not the best
- People

Cons

- Aweful management, from top to bottom (not just now, but historically too)
- Favoritism
- Corporate Politics at their worst
- Salary is lower than at competitors
- Work/Life balance can be aweful at times

Advice to Senior Management

I have a two word advise to the management at The Bank of New York Mellon (from Bob Kelly to team leaders) - "Fire Yourselves!"

Pros

Opportuniites, salary, location, coworkers, schedule

Cons

Reporting and paperwork could be cumbersome at times

Pros

The pay is competitive and the benefits are ok.

Cons

Lack of communication
Micro-management
No flexibility
lousy hours

Advice to Senior Management

Stop micro-managing and treating employees like prisoners instead of human beings.

Pros

Professional working atmosphere, looks good on a resume

Cons

Low salaries (get as much as you can coming in), little or no salary increases, no bonuses,internal jobs available in Pittsburgh are either entry-level, IT or very high-level - not much room for advancement at the mid-level, many Asset Servicing jobs being outsourced to India

Advice to Senior Management

You need to reward the teams with $$$$, not lame team-building exercises! No matter how hard you work, you get nothing in return.

Pros

Very accomodating to a life work balance.

Cons

Financial compensation is not in line with the rest of the industry. Professional and financial growth is very difficult to obtain in the technology portion of this bank.

Advice to Senior Management

Provide higher value on maintaining qualified talent versus cost efficiency. The cost cuts being done were detrimental to the actual productivity of the product.