BNY reviews

This is where careers go to die. I would not recommend working here more than two years. If you are fresh out of college its not a bad place to get professional experience but you'll regret it if you get stay too long. There are absolutely no opportunities for advancement. What few opportunities there are go to external candidates that never turn out to be valuable. In my group alone we have a few people that were hired externally for mid level-high level positions (60K -90K) and they are doing mundane tasks that contractors can do. Nobody is held accountable...at all. The internal candidates that do get opportunites are often unqualified or undeserved. The performance reviews are a total joke. Management acts like they want you to hold employees accountable because thats what they are supposed to say, but in reality they dont want to address poor performance. Poor performers in my group are actually rewarded because their responsibilities get shifted to high performers who can be counted on. The benefits get worse and worse each year. The company's excuse each time is to "be consistent with our peers in the industry". What's odd is nothing ever works in our favor. I'm sure there are benefits/salary/incentives that other peers exceed BNYM in but you'll never hear that from management nor will you see any changes in the employees favor. Management changes non stop. There are constant changes and senior management promotions. There are so many that you can't even keep track of them anymore. It's to the point when I see a corporate communications email I just choose to hit the delete button. We are expected to do more and more each day with less and less staff and experience. A lot of work has been offshored which makes communication difficult. Now that the banks competitors are offshoring to the same location, they are taking the employees we have invested time in and the bank is letting these people leave without attempting to retain them.

Too many layers of management to the point that the head doesn't understand what the feet have to do and doesn't really care. Recent cutbacks have triggered layoffs at the bottom to pay for more layers in the middle. Little advancement or external training. Long days, many weekends and not much of a life balance. Recently instituted using metrics to gauge employee performance which only adds to the effort required to do an already tough job and doesn't really reflect what is going on down on in the trenches.