Pros
Bright, dedicated employees - most whose work ethic dates back to the PFPC days when quality mattered. Business-casual every day with dress-down Fridays. Optional telecommuting.
Cons
Where to begin? - Management is almost totally focused on short-term cost cutting. Little or no investment is being made in the division's future. - "Employee engagement" is just empty words. The infamous 2012 survey was filled with complaints and suggestions for change but management never acknowledged. Instead they trumpeted the few cherry-picked areas where the company wasn't below average - Raises are generally below inflation. Increases are tied to reviews as they should be, but the process is gamed so that it's almost impossible to achieve the "exceeds" rating needed for anything higher than 1%-1.25%, no matter what you've accomplished during the year - Even simple decisions end up going through multiple levels of management. Questions and ideas get kicked around so many times it can take weeks settle anything. No one has accountability; if a problem occurs there's tons of finger pointing but nobody tries to get to the root of the problem and fix it - And worst of all: Asset Servicing is being carved up and shipped overseas. When BNYM took over they said full-time employees would be augmented by a few offshore contractors whose positions could be added or eliminated as workloads required. Instead, people with 10 or 20 years worth of industry experience are being laid off and permanently replaced with Indian contractors who just got out of college and have no knowledge of mutual funds. Productivity's down and errors are up, but all that matters is that these guys (right, nearly all male) are a lot cheaper on payday. Asset Servicing has been an industry gold mine under previous owners but BNYM seems h3ll-bent on destroying it.