BNY Mellon - Some great divisions but slow to promotions | Glassdoor
There are newer employer reviews for BNY Mellon
There are newer employer reviews for BNY Mellon

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Helpful (1)

"Some great divisions but slow to promotions"

StarStarStarStarStar
  • 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
No opinion of CEO

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

Pros

"Safe" bank where no Cravath system is in place.
Some international opportunities.
Several interesting divisions with good earning potential.
Good work life balance.

Cons

Low bonuses/Lower salaries than other banks
Slow to promote.
Most positions are very rote and do not offer varied experiences.

Advice to Management

Promote your people more.
Encourage cross-division moves.
Realign bonuses
Fire more people

Other Employee Reviews for BNY Mellon

  1. Helpful (1)

    "Terrible."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Regulatory Associate in Boston, MA
    Current Employee - Regulatory Associate in Boston, MA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    - Good entry-level salary
    - if your looking for a position with minimal interaction with people, and a lot of time to browse the internet then its perfect for you.

    Cons

    - no advancement
    - barely any salary increases
    - managers and directors do not know how to use technology, treat associates terribly, do not communicate well on projects, talk down to you. Basically they are awful.

    Advice to Management

    Get new management.


  2. "Lack of corporate direction and vision. Negative year-over-year compensation."

    StarStarStarStarStar
    • 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
    Negative Outlook

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

    Pros

    Good location particularly for anyone in NJ commuting on the PATH. There is a decent 401(k) matching program. Good vacation benefits (4 weeks for VPs).

    Cons

    Employee compensation in real terms has been negative for the past 4-5 years. The employee cost of benefits has also been steadily climbing further eroding compensation. There is a recurring theme of doing more and more work with fewer and fewer people. There is no relationship between performance, compensation and promotions.

    Advice to Management

    Invest in your people, systems and infrastructure.

    The firm's performance is mediocre at best in most of its business. Decide on which businesses you want to be in long-term (again 5-10+ years). Invest heavily in those area to become the best and divest of the business not in alignment with that strategic vision.

    Drastically restructure the executive management compensation structure to align it with the long term performance of the company (5-10+ years) rather than just year-over-year measures. The executive compensation should also be consistent with overall employee compensation for the year.

    Allow investors to vote on the compensation of the executive management team.

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

See Most Recent

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