BNY Mellon - A Really Bad Company | Glassdoor
There are newer employer reviews for BNY Mellon
There are newer employer reviews for BNY Mellon

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Helpful (3)

"A Really Bad Company"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Vice President in New York, NY
Current Employee - Vice President in New York, NY
Doesn't Recommend
Neutral Outlook
Disapproves of CEO

I have been working at BNY Mellon full-time (More than 5 years)

Pros

Benefits are decent. Pension plan and 401K plan with up to 5% company match. Health benefits were good, but are now deteriorating.

Cons

Just some of the worst management that I have ever seen. Senior management is not engaged at all in the day-to-day operation of the company. They are not typically seen and they don't set priorities in any way that describes or affects what line workers, and by line workers, I can mean vice presidents, do or are responsible for. From my vantage point, neither senior or middle management has much understanding of the issues and problems which prevent BNY Mellon from advancing, even in areas where management claims to understand that improvement is necessary. Worse, it seems that they don't want to know or understand the issues. Rather than identification, detailed strategizing on remedies and then contemporaneous management of factors where the company needs to improve, much emphasis is placed on "road shows", events and marketing of fuzzy solutions to employees. While I agree that much needs to be done to lift the spirits of employees, as there is a malaise which exists there among the employees that anything can truly be different, as the bank seems to have been mismanaged for decades, the demeanor of employees will start to change when they see that long-standing problems are finally being recognized, discussed openly, and addressed.

Management is content with a "hands-off" strategy, often purchasing software to take the place of contemporaneous management, measuring the wrong things, insane cutbacks in staffing and/or materials or infrastructure.

Meaningful education and training is seriously lacking. In technology areas at least, where specific technical knowledge is required, and the field is changing rapidly -- perhaps a good up-to-date technologist needs to gain control of 20-30% new information a year -- training which is meaningful and specific to work that the technologist is responsible for knowing is very difficult to come by, particularly if it must be paid for to an outside party. Yet, much lip service is given to training especially since it was the source of much employee dissatisfaction in previous employee engagement surveys. What has resulted is that the employee is responsible for acquiring 18 hours of training and is rated on it, usually without any serious training budget. This means that he must scrounge free education, seminars, vendor indoctrination, etc., which is not the training that most need. In this sense, management is working against its line technology workers and even against its own long-term interests.

Our new president sent an email that they are planning a new education initiative called BNY Mellon University. There were no specifics and no statement of how this university would be different from the current offerings for in-house education. I would think that such an announcement could wait for some details, some framework and some description of what gap the university would fill that the current education offerings lacked.

Advice to Management

Direct involvement in the company is more than developing a superficial checklist and checking all the boxes.

Recent activities, such as the superficial manner in which results of the employee engagement survey were presented are entirely dissatisfactory and even a step backward from what was established under the previous CEO. A one-page summary of the results obtained from a 50 or so question survey of 45,000 employees and with no true specificity on either the results, nor the conclusions obtained from the results, nor the way forward, is clearly inadequate.

Other Employee Reviews for BNY Mellon

  1. "Blahhh"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - ETF Accountant in Brooklyn, NY
    Current Employee - ETF Accountant in Brooklyn, NY
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at BNY Mellon full-time (More than 3 years)

    Pros

    I had the opportunity to improve my communication skills by training new hires on how to handle the day to day task. Lots of client interaction.

    Cons

    Automated Process for many of the task. Hard to distinguish between employees, Zero focus on employee retention and engagement. Lots of downtime

    Advice to Management

    Figure out a way to have the employees engaged. Figure out way to increase talent.


  2. Helpful (3)

    "No where to go"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Taxes in Pittsburgh, PA
    Current Employee - Taxes in Pittsburgh, PA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    They will give you $10,000 per year for school right off the bat, problem is that they grab students who are fresh off out of undergrad, pay them a low wage and lock them in a spot until they finish grad school.

    Cons

    There is no where to grow or move to. I have been here for 2 years making less than $35K a year and have only received a $300 pay increase since then, and that's with great year end reviews. They claim that raises "are not in the budget" but our company has been increasing profits every quarter. I cannot leave because I started going back to school so my only options are to stick it out and finish school or pay back $8K and get a new job. The reason I want to leave is that my degree is in Accounting and looking at my job description you would think this is a good spot for me, but its not. I do no accounting what and deal with more stress and headaches than the pay is worth. Do not trust their job descriptions if you are looking at working here. Also, they have been cutting our benefits back more and more each year.

    Advice to Management

    Give us room to grow and at least increase our wages with inflation. You are making millions of dollars and the rest of us cannot even afford to pay our student loans.


There are newer employer reviews for BNY Mellon
There are newer employer reviews for BNY Mellon

See Most Recent

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