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Worlds Apart....Asset Servicing Division

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Anonymous Employee  in  King of Prussia, PA
Current Employee - Anonymous Employee in King of Prussia, PA

I have been working at BNY Mellon full-time

Pros

Flexible and accommodating management. Supportive atmosphere. There should be more job opportunities in the near future due to prospective growth and new clients. Initial training for new hires is good. Training opportunities in classroom or WebEx are helpful...although not sure how that helps advance the career.

Cons

Disconnect from executive management. Annual merit increases are on average less than 3%, have been delayed for the last two years, and no additional bonuses are awarded for hard work. Total slap in the face to all those on the front lines that work their tail off for the company. Very difficult to transition to another department. Staff mangers and directors are clueless when it comes to recognizing employee contribution and hard work.

Occasional emails from CEO Hassell mention how successful the company lines of business are doing and future optimism, but that doesn't translate to lower level staff. It's not hard to read the news information regarding company performance year to year, but nothing more than a measly 2-3% merit increase as a thank you. Excuses excuses from Senior Management regarding the lack of merit increases is getting old. Eventually if not already the quality of service and work performed on behalf of our clients is going to suffer.

Advice to ManagementAdvice

Please start valuing the sacrifice and contributions your employees make on your behalf. Show a little effort in recognizing employee potential. In Asset Servicing there are too many chiefs and not enough indians. Get rid of some of the dead weight at the Director and Manager level. I.E. in Asset Servicing Fund Accounting and Administration and Client Services alone there seems to be a Director for every 5-6 employees. Those extra salaries could be and should be better spent on merit increases or special awards to recognize and highlight hard work. It's not rocket science! Corporate Management stresses company values and fostering a positive culture in the work place. A big part of that is how you treat your employees. How about lead the industry as opposed to just giving employees the bare minimum?

With today's technology and new web based accounting software system why can't management offer flexible scheduling and work at home opportunities. It seems to work just fine in the IT sector.

Scrap the whole Performance Review process. Because at the Director/Manager level on the floor it's more of going through the motions than providing valuable feedback to employees trying to advance their careers. Another example of the disconnect from Corporate.

Doesn't Recommend
Neutral Outlook
Disapproves of CEO

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