Bank of New York Mellon Reviews

Pros

Good benefits. Decent entry level job. If you have a decent manager, you may get to places, but chances are they're probably gone.

Cons

Salary is not aligned with the rest of the industry. Employees are treated unfairly. Promotions are based on luck of team, not performance. Performance reviews reflect nothing. Smart, bright people who stay are punished by oppressive managers who are looking out for their own self interest to keep you.

Advice to Senior Management

There needs to be more clarity in management, and the employees need to believe that they are heading us in the right direction, especially in a time where revenues are diminishing due to the a stagnant economy.

Pros

Supervisors and management are reasonable
Work like bakance is decent, but not great

Cons

Pay
Growth opportunities
Training is virtually non existent
Incompetent and disgruntled co workers
Pretty much sucks

Advice to Senior Management

Develop a clearer path for people to grow

Pros

- Great Work/ Life Balance
- Great People & Co-workers
- Good Place to Learn about Banking
- Supports Professionalism and encourages employees to obtain certifications
- Lots of vacation days

Cons

- Pay is below industry standards (including bonus) and raises are not the best either
- In some departments w/in Audit limited opportunity for growth

Advice to Senior Management

- Create better ways to promote employees and support growth within the company.
- Pay the employees their worth and you'll retain more talent

Pros

Strong industry presence across almost all business units. Great industry access and clout, particularly in asset servicing.

Cons

Given its asset servicing nature, sometimes felt like an outsider to the rest of the marketplace.

Advice to Senior Management

Provide greater opportunities for employee movement and promotion.

Pros

It looks good on a CV

Cons

Ludicrously high turnover of staff due to gross mismanagement, and even in the economic downturn, the salary is insulting. Senior positions are occupied by careerist chancers, and there is a terrifying knowledge gap for a company which is looking after billions of pounds of other people's assets. Almost a Stalinist work environment - anyone expressing any sort of dissatifaction or even suggesting ways to improve are viewed with suspicion at the very least, at worst some staff are victimised by senior management

Advice to Senior Management

Probably too late. More than staff are in the process of leaving of have already left this year, mostly to RBS who pay in line with other companies. It must be clear to senior management in Europe that the move to Manchester has turned into nothing short of a disaster, brought on by their own arrogance in taking advantage of the economic climate and paying less than your average call centre for a job you can get 10k more for 40 miles away in Leeds. Their refusal to waver from this, or even acknowledge there could be a problem, has led to a decline which can only be halted by basically starting the entire site from scratch. It's like working in North Korea, pretty much

Pros

BNYM allows employees to learn the basics within one year. To learn more than the basics, you must research on your own

Cons

BNYM does not compensate its employees properly and the benefits are viewed as terrible against other Banks. There is little room for promotions.

Advice to Senior Management

Management needs to do a better job of communicating directly to its employees. BNYM needs to do a better job of compensating as a whole

Pros

This company provides opportunities for growth and advancement for its employees PROVIDED you are working in one of the good offices and with professional people. I worked in two different offices, Jacksonville, FL and Boston, MA. My time in Jacksonville was very well spent for the most part. I learned a lot about the business and espeically how to handle multiple projects during the course of a given day. For the region the salary was fair. When I started here, it took some time to get up to speed for some of the more complicated processes used by the Bank, but other employees assured me that it was common and were willing to assist. The management here at the time was accommadating about giving employess time off for vacation or sick leave, sometimes too accomodating. I had access to senior management here and I found most of them to be good people. I thought the overall treatment of employees was good and much better than many other places I had worked at. There was also opportunity for advancement; promotions happened quite frequently. I worked with some truly wonderful people here.

Cons

The office I worked in in Boston was less professional than the one I worked in in Jacksonville. I'm not sure why. There are many offices in Boston, so I can only speak to the environment in this one. Although I rarely felt overworked, many of the employees in this office felt overworked. At times, the language and attitude toward subordinates by many relationship managers here was demeaning or borderline abusive. It would be grounds for reprimand or dismissal in many other companies (or in the Jacksonville office) but nothing ever seemed to happen about it here. Overall, there were some personalities in the office that made it a toxic place to be and it showed. My manager seemed to always be overwhelmed with her work and upset at me that I wasn't doing her job for her. I was always able to complete my work. Working in this office really soured the positive experiences and opinions I had once held about the Bank.

Advice to Senior Management

I think more personal oversight and surveying of emplyees and particulary management is warranted. There seems to be a pattern of coddling problem RMs and managers. One of the problems in the aforementioned office was that senior management didn't seem to have a true grasp of the low morale in the office. A well-run organization starts from the top down.

Pros

BNY Mellon employees tend to have excellent work-life balance. Compensation is also very fair, though may be lower than others in its industry.

Cons

Promotion within the company may be hard to come by sometimes. It underwent a merger just several years ago, and is still adjusting to the consequent changes. Has a "this is the way it's always been done" type of culture.

Advice to Senior Management

Be more risk-taking and challenge the culture of your firm. Development within the firm seems hard to come by, and may be the reason for voluntary terminations.

Pros

Great benefits packages and vacation time. There are also a lot of great people, and great teams to work with!

Cons

There is a lot of bad senior management! The do not appreciate their employees, you are just a number to some of them! The salaries are awful, they hire outside graduates for more money than what they are paying their current hard working employees. And then they expect you to train the new guy/girl, who is making more money than you!!! Awful...Management thinks they can treat people however they want...

Advice to Senior Management

Start treating your employees with respect, and appreciaton! Give credit, where it is deserved, and recognize hard workers. Don't promote people, just because they are good at smooching your behind! Take a look around, and be involved with the work your employees do and know what they do.

Pros

If you want a job without a lot of downtown, this is the job for you. When it is slow, its very slow.

Cons

The pay is very low and there is very little opportunity for advancemenet within the company. The hours are also not the best. I work 4pm-12am and there is no way I can change my shift.

Advice to Senior Management

Give more opportunities for advancement and start your employees off with better salaries. $24,000 a year with a college degree is not acceptable.