Pershing Reviews | Glassdoor

Pershing Reviews

Updated March 16, 2017
198 reviews

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Full-time Part-time

2.9
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Pershing CEO Lisa Dolly
Lisa Dolly
16 Ratings

198 Employee Reviews

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Pros
  • Work life balance can be maintained (in 21 reviews)

  • Good company with great benefits and positive work environment (in 10 reviews)

Cons
More Pros and Cons

  1. "Land of Mediocrity"

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

    I worked at Pershing full-time

    Pros

    Flexible work arrangements for most employees.

    Cons

    Senior management only cares about senior management.

    Advice to Management

    Focus on your clients


  2. Helpful (1)

    "Great for certain kinds of people"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Great benefits, able to leave work at work, know what to expect, move laterally in theory

    Cons

    work life balance, pay, mundane, no advancement, some jobs are dead ends then you cant get out because you are too good at it

    Advice to Management

    dont lose all your recent grads because you do not embrace millennials. Be careful the way you fire mid level managers making "too much". Dont outsource too much


  3. "Limit time spent to build resume"

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

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

    Pros

    A large population of employees have been given the Vice President title which is a great resume builder.

    Cons

    Pershing is owned by BNY Mellon which mandates an extreme cost cutting strategy. The Clearing Firm business model is steadily shrinking.


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  5. "Stagnant"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I have been working at Pershing full-time

    Pros

    Follow the right people and you'll do well

    Cons

    Does not want to change business or culture

    Advice to Management

    Time to bring in some outsiders to shake things up


  6. "Service Desk"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Pershing full-time

    Pros

    friendly people in KOP office

    Cons

    management, work life balance, clique


  7. Helpful (2)

    "Employees aren't valued"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Lake Mary, FL
    Former Employee - Anonymous Employee in Lake Mary, FL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Pershing full-time (More than 8 years)

    Pros

    The benefits, especially vacation time, are great for tenured associates (3-5 weeks), which is why most stay. There are a lot of volunteer opportunities and they do charitable matching around the holidays. There are tons of entry level opportunities, making it a good place to get your foot in the door if you're looking for a career in financial services.

    Cons

    -Pay is below market and even as a consistent, documented high performer, it is nearly impossible to get any type of raise outside of an annual 1-2% merit increase.
    -Few advancement opportunities; very entrenched layer of middle management.
    -Many managers have been in their respective department for 20-30 years and are very resistant to change.
    -The majority of the top performers leave for better opportunities/pay, leaving a subpar workforce.
    -Bureaucracy and corporate red tape tend to discourage process improvement and innovation.
    -If promoted within the company to a higher level position, they tend to offer you the lowest salary in that range, while giving external hires far higher starting salaries for the same position.
    -The amount of meetings can leave little time to actually accomplish work tasks.
    -Some initiatives implemented by upper management display a lack of understanding of how the job role functions, increasing the workload with no clear benefit.
    -In some departments the work can be extremely mundane and repetitive

    Advice to Management

    Put forth effort to reward and retain top talent.


  8. Helpful (3)

    "Director"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Jersey City, NJ
    Current Employee - Anonymous Employee in Jersey City, NJ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Pershing full-time

    Pros

    The only pro I can think of is that the office is only a few steps outside of the Grove Street Path Stop and that they just opened a Krispy Creme Donut in the building.

    Cons

    If you only had to know one thing about this firm, its this - people who have dedicated their entire careers to the organization, 20 plus years and now earn more than their role warrants are laid off. So the only reward you have to look forward to with this firm is after breaking your back they will eventually just lay you off so they can hire someone and pay them $100k less.

    Advice to Management

    When your COO leaves in a few months something should tell you that your firm has significant issues, like too many meetings about nothing. Sound familiar?


  9. "Sr Customer Service Rep"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Customer Service Representative in Altamonte Springs, FL
    Current Employee - Senior Customer Service Representative in Altamonte Springs, FL
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Good benefits. Good hours. Enjoy the environment and enjoy helping people out and coworkers too.

    Cons

    Some supervisors need to have people skills and or take classes. Just don't put someone in a lead position because they moved down from NJ.
    Try to look at someone who has been in the business for 10 years and wants to move up. Tired of having the NJ people come down and say they make 3-5 times more than the people that were hired in LM.

    Advice to Management

    Train your management staff


  10. Helpful (5)

    "Avoid"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    ~Benefits
    ~Work/life balance
    ~Their proprietary system NetX360 is probably one of the best on the street
    ~Nice people

    Cons

    ~The pay is extremely low.
    ~Bonuses were taken away for anyone below VP level around 2010.
    ~Since Pershing is a clearing firm, the overwhelming majority of the work is back office/grunt work.
    ~NO room for advancement. Even though I had the experience, skills, licenses and degrees necessary to be a manager, I was never promoted. Management literally told me, "You're talented, but there's nothing here for you."
    ~Extremely low morale
    ~RED TAPE. There is so much RED TAPE to get anything done.
    ~Every department and team is like a section of an assembly line, so workers feel little to no connection to those "behind" or "in front" of them. One of the effects of this is the "Pershing Shuffle," where callers are transferred 5 or 6 times (or more!) before finally finding the right department.
    ~The firm is "old". I'm in my mid 30s and - aside from high school and college interns - was still one of the "young" people.

    Advice to Management

    Stop wasting the talent.


  11. Helpful (1)

    "Boring atmosphere and coworkers"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Cafeteria food was okay
    Surrounding lunch spots
    Transportation and places nearby
    Managers are ok nothing special very lenient at times

    Cons

    Longgggggg hours and low pay with bad benefits..........and vacation days off are not that great but okay in general with standard limits

    Advice to Management

    Keep up the good work



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