Bank of New York Mellon Reviews

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

Willingness to promote from within when available
Excellent benefits packages

Cons

Slow growth and frequent hiring freezes
Favoritism exhibited at lower levels of management discourages many entry level workers, leads to high turnover
Overemphasis and over management in regards to employee performance management

Pros

good work life balance, managable workload, solid exposure to the financial services industry, development opportunities

Cons

Salary, merit scheme lacking compared to competitors, slow pace if individual seeks a fast paced and dynamic environment

Pros

Work / Life balance is good.

Cons

If you work the amount expected of you, you are fine. Produce more, then you are continuously expected to produce more. Don't do it - the difference in the amount of raises is not worth the work.
Want a promotion? This can take a while. My promotion has been "in the works" for nearly a year. I started this March of 2011. I was given every excuse by my manager why the papers were never filed. I would admit the exuses were very good. Now, in January 2012, still no promotion, and now we have just had an announcement from the CEO stating that merit raises are being postponed from April 2012 to July 2012. This is not a worthwhile employer.

Advice to Senior Management

Reward those that perform. Get rid of those that don't.

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

1. Good work and life balance
2. Easy work
3. Good working environment

Cons

1. No organic growth
2. No promotions
3. Unfair compensation
4. Does not offer diverse experience

Advice to Senior Management

Please get new clients and promote the people who actually worked

Pros

- Growing environment
- Job Security
- Good exposure to understand financial services cross sections
- Endeavour to provide technology support
Secret of success - PLEASE YOUR BOSS AND KEEP HIM PLEASED !! WORK DOES NOT MATTER

Cons

The company has been focussing on creating 3 global growth centres and has been focussing on Pittsburg, Manchester and India.
In the name of growth it has been only moving jobs and headcount to save costs. The presence of senior management sitting miles away in high rise office buildings are amused by fancy presentations presented to them by the senior managers from these growth centres and assume all is well coz the colours and fonts on perfect - far from reality.
The overal employee engagement is poor - since quarterly employee townhalls are assumed as excellent employee connect forums where employees are threatened to attend by their managers and managers are pull up if the employees do not attend these sessions of townhalls. - so much in the name of employee engagement. Message conveyed of having an open door policy are only superficial - if an employee reaches out to the senior managers for help - well beware !! - they are put on a Performance improvement plan. Promotions are only basis how good are you with your manager. The growth locations also lack a good leadership team - just a bunch of senior managers !! Its like giving a razor in the hands of a baboon !!
The biased (senior) management approach is evident from week 2 of you joining - cant miss the artificial environment in the air.
The alienation between the business and support functions is an open for all affair ! Free mud slinging is evident !! No respect for each other !!
Employee engagement scores of the company clearly show areas of focus but for years now they have been just ignored and brushed under carpet !!
Having late night management meetings in closed meeting room doors is a classic example of employee engagement - Hilarious !!
Appetite to accept feedback by the senior management team is extremely poort !! They would only do what they think is right - there is no best practise emulation across the company.
Growth opportunitites are poor
Ownership is low at senior managment level. An additional level of managers is just been in the system without being productive.... its evident since at these levels retention has been a 100% - no work only job of co ordination and good salaries with having the option to put the neck of junior staff on the line without taking ownership - who would want to quit such jobs !!
Immaturity of senior managers and their power "politics" has a direct impact on the employee base and the oblivious behaviour of the senior managers is appalling.
Rigged cost saving initiatives to show efficiency of operations is an old trait of the senior management team at the growth centres.
Forced participation in community activities is another example of employee engagement - dare not attend coz it is monitored and non attendance is pull up in your annual appraisal !!

Advice to Senior Management

Everything does not work from a 40,000 feet view.. The world always looks beautiful from up there... connecting with employees is important - not through writing blogs or holding leadership sessions with 50 employees but by being seen on the operations floor and having a connect.. remember you are there coz your employees are doing the jobs for you !!! Keep to your roots ... you will always succeed !!
If you love seeing reports and MI data - ask yourself - what am I going to do with this data !!
All the best !!

Pros

Salary and benefits are decent

Cons

Management is very biased
Not a lot of opportunities due to management

Advice to Senior Management

Please stop playing favorites!

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

Opportunities to advance within company

Cons

Compensation lacking and moral is decreasing

Advice to Senior Management

Performance review are counterproductive