Pershing Reviews

Updated March 24, 2015
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Employee Reviews

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  1. Helpful (2)

    If you are looking for job

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    Current Employee - Anonymous
    Current Employee - Anonymous

    I have been working at Pershing (more than 10 years)

    No opinion of CEO
    No opinion of CEO

    Pros

    Decent pay and benefits, many good people.

    Cons

    Feels like slavery, more work for less people, very long hours and work for almost every weekend.

    Advice to Management

    add more US employees

  2. Pershing thinks they rule the world, but they don't

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Pershing

    Pros

    The people I work for are really nice, especially the one guy. I wish I could just work for him. My vacation is nice and you can buy an extra week each you (BNY policy). Nice location. Benefits are ok, again BNY policy.

    Cons

    Sr mgmt is looking out for themselves. I capped out on salary a few years ago. And was pretty much told too bad. Constant threat of layoffs and fear of being fired. It feels like BNY / Pershing wants to get rid of the remaining pnc folks. Always expected to do a lot more with less. Promo process for corp titles is insane with committees! Who does that? And they still promote people that don't deserve it. It's takes months or years to get things approved unless it's client related. Technology is awful. Lots of jobs being outsourced to India to save money. Most people are miserable and it's not going to change soon.

    Advice to Management

    Listen, really listen, to your employees. You'll find the answers.

  3. Helpful (1)

    Pershing

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Operations Specialist in Jersey City, NJ
    Current Employee - Operations Specialist in Jersey City, NJ

    I have been working at Pershing full-time (more than 5 years)

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    Good place to start a career or for those who can handle politics. Great for those who are complacent with careers. Good vacation package. Benefits are OK. Location is great for NJ residents.

    Cons

    Too many managers lack management skills. Opportunities for growth are limited. Takes a long time to get promoted. Technology is outdated. If you are exempt compensation is very low.

    Advice to Management

    Invest in technology.

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  5. Management high on their horse.

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

    I worked at Pershing

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Convienent Location in Jersey City.

    Cons

    Overworked, always threatening to relocate your job to Lake Mary Fl.

    Advice to Management

    To many supervisors who arent versed within the department. Promote from within!

  6. No chance for growth, middle management will keep you down.

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

    I have been working at Pershing full-time

    Doesn't Recommend
    Doesn't Recommend

    Pros

    Good benefits, business keeps coming in

    Cons

    Too many layoffs, lots of politics. No repercussions if you fail and no reward if you succeed. Middle management is out of touch and has no idea what they are doing. Antiquated ideas. No room for change. Also, when you report things to HR, they will not help you. They have not stopped management from actively blocking transitions to other parts of the firm.

    Advice to Management

    Clean out much of the current middle management. Encourage growth and rewards. Morale is important. Make employees and managers accountable.

  7. Helpful (4)

    Dissatisfied with management

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

    I have been working at Pershing

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    Pros

    Industry leader in clearing business

    Cons

    Unrealistic expectations, no work life balance and poor leadership. Leaders in positions because of contacts they know not based on skill set

  8. Helpful (6)

    One long frustrating experience

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

    I have been working at Pershing full-time (more than 5 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    It's better than being unemployed.

    Cons

    I work in the technology division and the management (and the majority of employees) are completely out of touch with reality. The products are badly designed and the execution is even worse - the fundamentals are regularly ignored (if they have ever been learned) and it's a joke to even contemplate the idea of "best practices" or "centers of excellence". We are constantly pulling back production changes because of terrible design and non-existent testing. (And good luck there if you EVER think there is going to be a root cause analysis for whatever debacle people are cleaning up, and NO CHANCE for the person causing the mess to lose their jobs over incompetent performance.) There are a few solid, helpful people who want to do good work and want to take pride in their jobs, but the perpetual beat down with substandard execution to projects and an "I don't care if it works or not, it's going to make the deadline" philosophy is soul crushing. On top of it, there are perpetual, quarterly rounds of layoffs and long timers (who know where all the bodies are buried, so to speak) are being pushed out with no continuity plans, so you can kiss goodbye to understanding any of the downstream effects of code changes. If you want to feel good about coming into work each day, this is not the place for you.

    Advice to Management

    Toss out the entire technology management team and start fresh with people who 1) are qualified, 2) care about putting out an application that works, and 3) understand how to communicate. Pershing senior management is always talking about values and best practices - well, put your money where your mouth is and start implementing 360 reviews (what company of this size/caliber DOESN'T have you review your manager/colleagues as part of the annual process??) and actually take a look at what's going on, rather than rely on bs "scorecards" that are manipulated to make the abysmal results look somewhat palatable. It's a disgrace in the difference of what is being reported and what is being executed. Sr management seems to want to micromanage in all the wrong places and is letting the overall division flounder. Get on top of the people that are being hired, the caliber of most of the development team is tragically under qualified. And it would be a pleasant change to have a long-, medium-, and short term strategic plan in place.

  9. Helpful (4)

    Bitter and frustrated...

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

    I have been working at Pershing full-time (more than 5 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Vacation and benefits are above average (5 days off for bereavement, 10 days off for birth of son/daughter per year). Flexible hours. Company will pay up to $10,000 in tuition reimbursement per year (approval is not hard to get).

    Cons

    Pershing is a subsidiary of BNY Mellon, therefore policies essentially reflect BNY Mellon (BNY Mellon has been ranked as one of the worst large companies to work for via this website). Salary is below what other companies in the area are willing to pay for your services and bonuses are primarily for management. Company has attrition plan in effect and is moving a lot of operations jobs to India. Top talent is not being retained and everyone with 5-15 years experience or more is leaving. Moral is low, company culture leaves a lot to desire. Employees are being asked to work harder with less and retention rate is getting worse. There really are no procedures or guidelines set up for training its employees. Training left me bitter and frustrated with the company. Upper/mid level management makes poor decisions and is not proactive. Overall, when hired, they place you at a desk and forget about you. Little opportunity for job growth/development. I can only recommend this job for recent college graduates or individuals attempting to get back in the work force. This company is easier than most to get your foot in the door.

    Advice to Management

    If your employees are unhappy, customer service will be affected...common sense, but management doesn't get it or doesn't care.

  10. Helpful (2)

    A company behind the times

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

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    It's easy to be successful as the overall talent pool is small.

    Cons

    Pershing rewards loyalty above skills and talent. They prefer that you simply stay at Pershing as long as you can. If you fail at your job, they move you to another position. Nobody is held accountable for their actual work, or lack of.

    The most "reactive" company out there. Pershing is decades behind their competitors when it comes to products, services and technology.

  11. Overall ok

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Client Service
    Current Employee - Client Service

    I have been working at Pershing full-time (more than 3 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Strong work ethics and team work

    Cons

    Bit old school mentality up north

    Advice to Management

    More frequents reviews with associates

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Building from the road.

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