Pros
Decent Benefits package. Compensation plans between BNY and Mellon have not been fully 'merged', rumored that Pittsburgh (Mellon) still has a 'bonus' program that is not shared in NY (BNY). Organization is not forthcoming with information regarding this 'policy'. So if you are interviewing in Pittsburgh ask. If you are in IT you really won't be interviewing for a NY position, if by some chance you are- be very careful, get some kind of contract.
Cons
Since the merger the Bank of New York and the Mellon Corp things have been going downhill for NYC IT employees. Staff reductions (layoffs) are taking a toll, we have lost many valuable people and those that are left are being 'challenged' to do more (and more and more). Due to the loss of experience, tasks that previously took 2 days can now take more than 2 weeks. You can't replace years of experience with a month of training. Looks like IT jobs for this organization will soon be nonexistent in NYC except for the highest levels of management. They of course will not give up their NY digs and salaries.