BNY reviews

Senior Management - Its a hit or miss if they truly know whats going on. Each year, a new focus is pushed and once its about to take root the management team that started it leaves and a new focus is started. Such as the motto "investment company to the world." So when your family asks what investments they offer have fun finding out. Because the company makes so much money with little effort, there are activist investors pushing the company to focus on share buy backs and extreme cost reductions. There is no thought about increasing rates, sales, or establishing more business when you can massage earnings by eliminating staff and taking shares out of the active market. Management/Team - This area will either make or break your time there. For the majority of managers there, this is their only job and they do not have much training on the actual management side. Some will micromanage while others will be non-existent. If you get on a good team they will be flexible with your hours and really help you with a work/life balance while other teams will make you dream of a life outside of work. Once you have been there for a few months be expected to know pretty much everything even though you may have a new person training you. Team members - Some are aloof while others know everything about the bank. Every team has their chosen employees that get whatever they want. Some may be helpful while others may never say a word. promotions - non-existent. you are told that you must know every function to make it to senior while at the same time people are randomly given a promotion to senior for not doing much. do not plan on moving up the ladder as this is laughed at and discouraged. if you move teams they will see you as disloyal and question if you want to be there. most of the management staff could not do the job else where and have no plans to retire. because of this there is a bottle neck starting all the way on the bottom of the chain. raises - you are doing great if you can get something close to 2% but the average is a little over 1% a year. In addition to this, with a low starting salary makes it even more belittling. technology - still maintains original systems and will not consolidate all the programs even though the bank has 5 technology centers. this continues to cause issues with each client and makes daily work difficult. if the money spent on share buy backs was not done and instead spent on technology, the bank could cut staff in half. but with the current technology all teams are over staffed and very few people understand how the systems work with each other. overall - changes have been made based off yearly reviews from the workers and they are positive. the downside is that most employees don't take it serious or don't do them at all. the rate of change makes a government project look fast.

The last 3 years things went quickly downhill. Every cost cutting measure has been directed at employees - benefits, bonuses, pay, perks. Supply freezes, increased prices in the cafe, taking away everyone's personal printers, making employees use their personal cell phones. You can't get blood from a stone. Lay-offs are now a monthly occurrence so you need to get used to a very nerve-wracking culture of unmotivated and frightened employees. My last manager at BNY Mellon was very hostile towards the staff and several employees walked out after the last round of lay offs due specifically to her behavior. A formal ethics complaint was filed but was never followed up on. I only hope someone will finally see what is happening and bring in leadership who actually knows how to lead.