BNY Mellon

www.bnymellon.com
There are newer employer reviews for BNY Mellon

2 people found this helpful  

Archaic, but stable company who cares about your future

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Investment Management Services in Orlando, FL
Former Employee - Investment Management Services in Orlando, FL

I worked at BNY Mellon full-time (more than 5 years)

Pros

Good 401(k) match. Good vacation time options. Many health and other insurance benefits to choose from. Although primarily a custodial bank, this behemoth has many departments and companies it owns to allow you to expand your career in different areas of the business. Also, one of very few companies left offering a pension plan. Very dedicated to diversity and inclusion among any "minority" group you can think of. Most roles are non-exempt, so overtime helps you increase your salary to a half-decent living situation.

Cons

Terrible advancement rules with upgrades in salary grade or transfers/promotions to other departments. If your current salary is anywhere within the massive range of the salary grade of your promotion or transfer, you keep your salary. This ends up forming groups of people where analysts are hired on making more money than senior members of the team and supervisors, and discourages employees from wanting jobs with extra challenge.
Only the very top of the food chain receives bonuses or stock awards.
Extraordinarily bureaucratic.

Advice to ManagementAdvice

Spend some time revisiting some of the ridiculous rules in place for the advancement of your employees.

Doesn't Recommend
Positive Outlook
Approves of CEO

1430 Other Employee Reviews for BNY Mellon (View Most Recent)

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  1. 1 person found this helpful  

    Avoid fund accounting at all costs

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at BNY Mellon full-time (more than 8 years)

    Pros

    If you're desperate for money, I guess the paycheck could be considered a pro.
    Decent vacation time.

    Cons

    If you show an ounce of competency or talent you will be swimming in work while less competent employees browse the internet and take 2 hour lunches.

    No incentive to work hard. No matter what, your "raise" will be less than inflation.

    Job is so automated that you don't really learn much. Consider it more of a data entry/ "copy and paste" job.

    The longer you stay the harder it will be to leave. This is because you become pigeonholed and will find it hard to be considered for anything other than fund accounting jobs. If you must work here , have a plan to get out in 2 years or less.

    You only need 6 accounting credits. That should tell you how much "accounting" is involved.

    When people in your group leave, they are not replaced. Thus, your workload increases while your pay stays the same.

    Advice to ManagementAdvice

    Why bother? You don't listen. You're ranked as one of the worst companies to work for and clearly you've done nothing to improve the work environment and the low morale.

    Doesn't Recommend
    Disapproves of CEO
  2.  

    work here if you want a soul sucking dead end job

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Trade Specialist in Pittsburgh, PA
    Former Employee - Trade Specialist in Pittsburgh, PA

    I worked at BNY Mellon full-time (more than 3 years)

    Pros

    There was a decent amount of vacation time. The best part of working there was the days when I didn't have to be there.

    Cons

    unrealistic goals are set that you have to reach to even be considered for your less than cost of living increase "pay raise", no work/life balance- this place is like office space and they expect you to work all hours, an extremely boring, mind numbing job, and management is clueless.

    Advice to ManagementAdvice

    Actually learn what your team does and then find real ways to make things more efficient and help people rather than standing around cracking the whip. My experience was that my manager just constantly went out for coffee, or to the gym, and was never actually around. And then when he was around he'd just yell at people over stupid things. And got paid big bucks for this?! REALLY?!

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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