BNY Mellon - Good pay but Poor leadership | Glassdoor
There are newer employer reviews for BNY Mellon
There are newer employer reviews for BNY Mellon

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"Good pay but Poor leadership"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Managing Director in New York, NY
Former Employee - Managing Director in New York, NY
Recommends
Neutral Outlook

I worked at BNY Mellon full-time (More than 10 years)

Pros

Abilty to balance home life

Cons

Senior mgt does not spread wealth

Advice to Management

shaee profits with employees

Other Employee Reviews for BNY Mellon

  1. "Asset Servicing is not the place to be"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Fund Accountant in Brooklyn, NY
    Current Employee - Fund Accountant in Brooklyn, NY
    Disapproves of CEO

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

    Pros

    -Minimal pressure from management
    -401k & health benefits

    Cons

    -Not a challenging position
    -Below average pay/comp
    -Management is terrible
    -Coworkers are all very negative about the company even some managers
    -Morale is low
    -Political environment

    Advice to Management

    A new CEO who isn't afraid of shaking up this company. Management needs to be changed, absolutely.


  2. Helpful (2)

    "Not a Good Place to Work"

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

    I worked at BNY Mellon full-time (More than 5 years)

    Pros

    Benefits were pretty good, but they are deteriorating since the merger. Health care seems to be next on the hit parade of benefits that will be gutted. There is little pressure to achieve specific goals, but is that a good thing?

    Cons

    Salary increases are miniscule, if they are even granted at all. A 3% raise is considered a very good increase and is reserved for top performers. Bonuses are in the 2-3% range, at least in my division, for excellent performers. Meaningful education and training is non-existent. Management, particularly senior management, is nearly non-existent. They provide no influence on day-to-day activities. They are not accessible and invisible. They do not engage with line employees. Consequently, they have no idea what is happening and lack any understanding of how to influence the areas or conditions which they deem to be important. Rollout of initiatives coming from senior management reflects this lack of understanding. Since there is little one-on-one contact with management, there is no opportunity to describe or identify the missteps associated with these rollouts. Apparently, this is the way senior management likes it. They solicit no input from the staff, save perhaps their direct reports. When I left, there was no exit interview -- by HR, by a manager, by anybody! This is the only company that I ever worked at where they didn't even have passing interest why an employee of seven years with very good performance reviews might be leaving. My guess is that despite the constant drone of "how much we support our employees", they know and understand the truth and don't want to be bombarded with negative feedback.

    Advice to Management

    Certainly the board of directors and senior management needs to resign. I would say it's that bad. Middle management is poor, but also poorly trained for the tasks at hand. If two levels of management were removed, I believe that this would force senior managers and what's left of middle management to set goals, set timetables, determine how those goals will be met , evaluate interim status towards meeting the goals and determine the success or failure towards achieving the goal and then to take appropriate action. We see nothing like this at BNY Mellon. Make sure that adequate and well-trained staff exists to meet the objectives. Don't simply declare success as any year in which senior management gets a great bonus, often by simply demanding more work from line employees and non-management staff without developing any resources towards the demand for more effort, more work, more, more, more. Share financial success with line employees. Reward those who perform despite the draconian and depressing atmosphere.

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

See Most Recent

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