BNY Mellon

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

 

Great place to work

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Fund Accountant in Westborough, MA
Current Employee - Fund Accountant in Westborough, MA

I have been working at BNY Mellon full-time (more than a year)

Pros

Great people, easy work, plenty of free time, lay back environment. The managers are understanding and this job pay well relative to this job in the industry.

Cons

There does not seem to be a lot of encouragement to move upward in the company. They only allow you to move up a certain amount of paygrades at a time, despite what educational advances you might have made.

Advice to ManagementAdvice

Perhaps be a bit more open about how you can advance in the company. The website could use some work.

Recommends
Neutral Outlook
No opinion of CEO

1432 Other Employee Reviews for BNY Mellon (View Most Recent)

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  1. 1 person found this helpful  

    Not a Good Place to Work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President in New York, NY
    Former Employee - Vice President in New York, NY

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

    Pros

    Benefits were pretty good, but they are deteriorating since the merger. Health care seems to be next on the hit parade of benefits that will be gutted. There is little pressure to achieve specific goals, but is that a good thing?

    Cons

    Salary increases are miniscule, if they are even granted at all. A 3% raise is considered a very good increase and is reserved for top performers. Bonuses are in the 2-3% range, at least in my division, for excellent performers. Meaningful education and training is non-existent. Management, particularly senior management, is nearly non-existent. They provide no influence on day-to-day activities. They are not accessible and invisible. They do not engage with line employees. Consequently, they have no idea what is happening and lack any understanding of how to influence the areas or conditions which they deem to be important. Rollout of initiatives coming from senior management reflects this lack of understanding. Since there is little one-on-one contact with management, there is no opportunity to describe or identify the missteps associated with these rollouts. Apparently, this is the way senior management likes it. They solicit no input from the staff, save perhaps their direct reports. When I left, there was no exit interview -- by HR, by a manager, by anybody! This is the only company that I ever worked at where they didn't even have passing interest why an employee of seven years with very good performance reviews might be leaving. My guess is that despite the constant drone of "how much we support our employees", they know and understand the truth and don't want to be bombarded with negative feedback.

    Advice to ManagementAdvice

    Certainly the board of directors and senior management needs to resign. I would say it's that bad. Middle management is poor, but also poorly trained for the tasks at hand. If two levels of management were removed, I believe that this would force senior managers and what's left of middle management to set goals, set timetables, determine how those goals will be met , evaluate interim status towards meeting the goals and determine the success or failure towards achieving the goal and then to take appropriate action. We see nothing like this at BNY Mellon. Make sure that adequate and well-trained staff exists to meet the objectives. Don't simply declare success as any year in which senior management gets a great bonus, often by simply demanding more work from line employees and non-management staff without developing any resources towards the demand for more effort, more work, more, more, more. Share financial success with line employees. Reward those who perform despite the draconian and depressing atmosphere.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    Large bank with many issues after two acquisitions.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Jersey City, NJ
    Former Employee - Anonymous Employee in Jersey City, NJ

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

    Pros

    Large corporation with many areas of business.
    Variety of workplaces with offices across the country and overseas.

    Cons

    Very political workplace with more issues after the acquisition of the Bank of New York and subsequent merger with Mellon. There is a financial firm called Pershing that was layered into this and for those working for Pershing, issues never stopped once the merger and acquisitions were over. Lay offs and push of jobs to India has caused tension and overwork for the entire company. Many good employees let go with no explanation.

    Advice to ManagementAdvice

    Try harder to hold on to the good employees rather than allowing the sub par ones to remain even though they are making less. Be aware of your entire firm and not just the bank side.

    Neutral Outlook
    No opinion of CEO
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