There are newer employer reviews for BNY Mellon

2 people found this helpful  

6 year employee-Disgruntled as hell!

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Trust Associate  in  Chicago, IL
Current Employee - Trust Associate in Chicago, IL

I have been working at BNY Mellon full-time for more than 5 years

Pros

Benefits are decent. Vacation and location probably the only reason I'm still here and haven't jumped ship. Get it together!

Cons

Pay is way below industry standard. How America's oldest bank continues to outsource jobs overseas is sad. Morale is terrible because operating model changes have increased stress, workload, and aggravation. The only thing that does not increase are our wages. 1.5% if you hit the top of their expectations. My last increase was sucked up by taxes.

Advice to ManagementAdvice

Get a clue as to what the folks on the bottom of the chain are doing. Telling people that they can feel free to work someplace else because they are dissatisfied with the bs you created is not fair. You get your increases, why can't we? We are doing all the work and you all are making it up as you go.

Doesn't Recommend
Negative Outlook
Disapproves of CEO

1232 Other Employee Reviews for BNY Mellon (View Most Recent)

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  1.  

    Below average pay

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

    I worked at BNY Mellon full-time for more than a year

    Pros

    -Very laid back environment
    -You CAN'T get fired, even if you tried..This is not a joke..once you get in, you really have to screw up a lot to get fired.
    -You can get by doing minimum work
    -You get a while to learn everything..
    -Good benefits
    -Some managers are amazing

    Cons

    -Horrible Pay, and very demoralizing bonuses (3% on average if you're lucky)
    -Expect to put in 2-3 years before getting a promotion (and bare minimum raise as a result)
    -You're rewarded based on seniority and how long you've been at the company. Even people dumber than you will make 50-60% more than you if they've been there for longer than you
    -People with CPA and MBA designations weren't rewarded accordingly and were passed over for promotion, even with almost 3 years of experience to boost. Morale of the story, hard work will not result in success at the company and may take a while till you see the rewards for it
    -No room for growth (Literally..this is not a joke)
    -Exit opportunities are HORRIBLE. You will be stuck here forever or companies similar to what your role will be. Think twice before starting your career here. You will be lucky to get interviews elsewhere.

    Advice to ManagementAdvice

    Promote your employees when they put in the work and pay them fairly..
    Provide more opportunity for growth.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2. 1 person found this helpful  

    Still merging after all these years

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - IT Professional  in  Syracuse, NY
    Former Employee - IT Professional in Syracuse, NY

    I worked at BNY Mellon full-time for more than 10 years

    Pros

    Good pay for upstate NY, one of the few large employers in the area

    Cons

    Internally the financial institution is still fiefdoms of BNY and Mellon. Each location feels that they have the short end of the stick when in fact the merger reduced the benefits for most and made a mess of the work environment for many. Benefits get worse every year with a song and dance about surveying our peer group and noticing that we can reduce your healthcare, retirement or other benefits and still stay marginally ahead of them. No significant pay increases in 5 - 6 years. New and improved processes, employee engagement or other non-compensation program come out every year to try and improve upon the dismal employee surveys. Crazy overtime in some areas, not pulling your weight if you leave on time. Some tech teams are overloaded with work and others are balanced or on smaller systems. Kudos often given to the teams with minimal work load that have time to do the 'above and beyond' work (or just time to write up their achievements creatively).

    Advice to ManagementAdvice

    Technical training is as needed or for a select few. Training initiatives are a joke. People fill training requirements with non-essential free training to check off the box because the good training is not authorized. Outsourcing needs to be reduced. Too much risk, kills morale and knowledge leaves too easily. Strike a better balance between shareholders profits and employee pay/benefits. New CIO is an idea person, not a leader/organizer. He needs to create a blueprint of his vision instead 'lets be innovative' speeches

    Doesn't Recommend
    Neutral Outlook
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