Bank of New York Mellon Reviews in New York City, NY Area

Pros

I loved my time with BNY. I worked with great people, many of whom I still consider friends almost 10 years later. I was very young, and I learned how to be a professional there.

Cons

Senior management is very tight with information about upcoming changes, and it leads to a rumor-mill full of misinformation, and frequent periods of unease that "something's coming".

Advice to Senior Management

Just keep doing what you do. The Bank is a great place to work, and fosters a strong learning environment.

Pros

Compensation is competitive, as long as you aren't looking for growth opportunities. The benefits options are decent. The hours and demands are pretty tolerable.

Cons

Company wants to be innovative, but won't do what is necessary (ie invest in it's infrastructure or employees). Company culture is not as a leader or risk taker. Middle management is too afraid of self preservation and their own status... the motto is don't rock the boat. Managers aren't very proactive or engaging with staff, even verging on disrespectful or condescending.

Advice to Senior Management

Employees would be encouraged and motivated if they felt more included in the process, not just pawns. Morale is low because there is no incentive to excel, or merit compensation. A fair performance review with realistic metrics and guidance that is productive would be encouraging.

Pros

Co workers were friendly and helpful .
Managers were understanding.
Work environment was fun and safe, company resources were well used for the job.

Cons

Work performance feedback was not given.
Did not see much opportunity for growth.
Salary was less than expected and raises were not given

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

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

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

Good pay for experieinced people, NY folks are great to work with, and the execs are trying to change the culture since the merger.

Cons

Technology is 20 years behind others, no joke! Pittsburgh employees are backstabbers, the IT folks in Pitt are mostly interested in Steelers vs. working - they are lazy, lack any real development skills, and mgmt seems to put women in key positions more often than not (all for it, as I am a woman myself)... way too many people in mgmt levels, lots fo $ being spent, but lousy technology and mostly a manual process to get anything. They have Lotus Notes E-mail ! HR is incompetent at best, they really are the worst I have ever seen in over 20+ years of working! They do nothing and contribute 0 to value-add. Try to work in NY i you have to work there, and avoid Pitt at all costs - they are lazy, backstabbers, and work at most 7 hour days - and way too many people in IT there - they should fire all of them!

Advice to Senior Management

Fire everyone in Pittsburgh for starters, get rid of the head of HR, ad get a new CIO who actually knows what he's doing!

Pros

Bank of New York Mellon has decent benefits and a good name. The location is very good and there are some really good people who work there.

Cons

The system is really disorganized and there are lots of inefficiencies. There is a lot of BS and not a lot of transparency. For instance, they were saying that we were doing really well financially compared with the other banks, then the next week, people were getting laid off.

Advice to Senior Management

Don't gossip about others in the office in front of other workers. It makes them wonder if you're going around and gossiping about them too.

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.