Bank of New York Mellon Reviews

Pros

Wonderful colleagues. Wonderful networking opportunities, groups, community outreach, etc.

Cons

Communication and technology have improved over time but it took a while to catch up to other organizations.

Advice to Senior Management

Honest communication is key.

Pros

Highly competent colleagues, commitment to professionalism and customer service, recognition of need for work/life balance, very good benefits, company is well-managed and has weathered economic storms better than other banks.

Cons

Raises minimal, regardless of performance and the company's profitability. Not much career growth or development.

Advice to Senior Management

Reward employees for making company's profits possible by increasing salaries, or at least create opportunities for raises through performance

Pros

BNY Mellon has a great corporate culture and industry leadership

Cons

Limited room for growth and development

Pros

Good hours, benefits are nice, salary is just okay, managers tend to be pretty nice and understanding.

Cons

Salary could be better, management sometimes "talks down" to employees. Lack of communication and teamwork between some groups.

Advice to Senior Management

Encourage better communication between different parts of the company and remember that employees judge everything and anything you say to them critically.

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

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 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

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