BNY reviews

General cons: • Low salaries • Low-end benefits and perks, such as limited healthcare options, minimum workplace perks (e.g. costly cafeteria food, small gym membership discount), limited community engagement, no transportation subsidies (only provides for the federal standard of pre-tax contributions for transportation and parking from your own salary) • Segregated disciplines, leading to poor career growth opportunities • Risk-adverse company means little innovation or new market headway • Aging workforce with minimal sympathy from occasional younger talent • Classic hierarchical management model with minimal transparency, limited dissemination of business vision ( marketing vagueness such as "BNY Mellon's Plan to Win") IT-specific cons: • Ancient, non-standards compliant systems and technology • Impossible teams and management structure • "Flavour of the day" technology focus • Lack of communication and coordination amongst IT groups, leading to redundant development and support • U.S.-centric despite substantial development focus in India • Completely behind all major tech and engineering firms when it comes to new technology, development, and innovation

This is a company that accepts poor management throughout its structure. Lots of cronyism/favoritism from lower management, and a refusal to actually manage poor performance despite upper management stating that this will be an emphasis. Upper management seems to have no plan or vision for the future. Focus is solely on increasing profit by cost cutting (of people and technology enhancements) to the extent that it is now negatively impacting the client experience. Clients are unhappy with old, bug-ridden, substandard tools and constant turnover of their points of contact within BNYM and are leaving in droves. BNYM refuses to spend the money to fix the product issues and what does get fixed is done by offshore contractors--the ones that submit the lowest bids. Let's just say you get what you pay for! The layoffs are neverending. BNYM is cutting jobs and offshoring as fast as they can. People disappear all the time. Staff has been cut to the bone and more big cuts are on the way. Remaining staff is already overburdened and morale is zero. No motivation to go the extra mile any longer--in essence we are all just waiting to be let go and collect our severance package so we can move on. Limited ability to advance one's career. Difficult to move laterally or upward. Salary is below standard and raises have been between 0-1.5% for the last seven years, accompanied by a yearly decrease in bonus and decrease in health care benefits. Company claims to emphasize employee engagement and that is laughable. You are nothing more than a number at BNYM, a headcount that they are trying to cut/offshore ASAP.