Awful culture. Awful Management. Awful CEO.
Pros
Not really any to speak to that cannot be found in any other organization.
Cons
Criminal CEO who committed fraud at Goldman Sachs (1MDB incident for reference) and stripped employee benefits. One of his first actions was to stop per pay period 401K matching in favor of matching once per year, profiting the bank's Executive Committee and shareholders at the expense of its employees. The entire Executive Committee operates on a "rules for thee, but not for me" mentality. Example: The recently fired CMO was fully remote, based in Silicon Valley, while she and the rest of the EC demanded average employees to return to the office or be fired. BNY wasted millions of dollars paying for the CMO's cushy travel to the NYC headquarters, along with premium lodging in Manhattan. This behavior was par for the course for the entire Executive Committee, all against the backdrop of company-wide cost cutting of resources and employee wages. Layers upon layers of useless, overpaid and incompetent middle-and-upper-management. No 360 degree reviews. Culture of fear and toxicity. Every employee is afraid to openly speak their mind for fear of retaliation by management. Forced bell-curve ratings for employee reviews - management MUST rank their direct reports on a bell curve, with 25% of their direct reports ranked as "did not meet expectations", 50% "met expectations" and 25% "exceeded expectations" - regardless of how each individual performed. Company is massively bloated in middle and upper management not just in headcount, but also salaries. All resources go to the top, with employees in execution-oriented roles having to do more with less daily. Monthly, small layoffs have occurred at BNY since CEO Robin Vince took charge. This is a purposeful tactic to avoid the penalties and bad press that comes with infrequent but large layoffs. This adds to the culture of fear among employees and drives the attrition the EC wants. The CEO surrounds himself, intentionally, with multiple young, female interns. Those same interns suddenly receive fast tracked promotions through corporate functions in the NYC office - take from that what you will. In summation, avoid BNY like the plague. Its poor reputation speaks for itself.
