There are newer employer reviews for BNY Mellon

 

Good place to start a career

Current Employee - Anonymous Employee
Current Employee - Anonymous Employee

I have been working at BNY Mellon

Pros

Working with fun and smart people

Cons

Management is clueless when it comes to decisions

1234 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 for 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.  

    The pay does not commensurate with experience.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Houston, TX
    Current Employee - Anonymous Employee in Houston, TX

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

    Pros

    Flexible schedule, depending on team you're on.

    Cons

    Poor pay, excessive work load, high turnover, micro managers, shifting of operations model made business processes less efficient. We have had at least 4 different head of departments.

    Advice to ManagementAdvice

    Managers need to listen to the current employees to find out what is working and what is not. We do not feel valued when our input is not taken into account.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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