BNY Mellon
2.8 of 5 1,008 reviews
www.bnymellon.com New York, NY 5000+ Employees

BNY Mellon Reviews

Updated Apr 22, 2014
All Employees Current Employees Only

2.8 1,008 reviews

                             

64% Approve of the CEO

BNY Mellon Chairman, President and CEO Gerald Hassell

Gerald Hassell

(259 ratings)

45% of employees recommend this company to a friend
1,008 Employee Reviews
Relevance Date Rating
in

Review Highlights

Pros:
  • "Good work/life balance and generally fellow employees want to succeed"
    in 93 reviews
  • "It offers good benefits, very laid back and relaxed working environment"
    in 55 reviews
Cons:
  • "No room for growth, once someone gets to middle management, the career growth is shut off"
    in 22 reviews
  • "Senior management is not engaged at all in the day-to-day operation of the company"
    in 39 reviews
  • Show more review highlights

Reviews

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • No Opinion of CEO

 

could have been better

Senior Financial Analyst (Current Employee)
Manchester, England

I have been working at BNY Mellon full-time for less than a year

Pros-relax environment
-training opportunities
-location (for manchester)
-good name on a cv

People are nice enough and helpful but there are imbalances between finance teams - some people get a promotion every year while others just stay still. Will go under a reengineering therefore new opportunities may arise.

Cons-low pay
-not clear advancement in career

Advice to Senior ManagementTry to focus on technology

Yes, I would recommend this company to a friend

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         

 

Plenty of training opportunities, but don't expect to go anywhere

Anonymous Employee (Current Employee)
Manchester, England

I have been working at BNY Mellon full-time for more than a year

ProsThe training available to employees is excellent. There is a mixture of self learning, online courses, phone presentations and in-person courses. As a starter coming into the industry without any experience, you can become as knowledgable as you like.

ConsThe process across regions is incredbly fragmented, with two people on the same job title in the US doing a completely different job to one in EMEA, despite both working together. Though there are attempts to realign this, the situation as it stands is that there are tiny pockets of information which do not filter down.
The general policy is "do first - ask questions later" where new policy initiatives that affect clients are not thoroughly worked through prior to implementation causing incredible and inexplicable delays.
Departments are so risk averse that they are often not willing to do things which would ordinarily be part of their remit.
Processes and Procedures are used to minimise risk, to the extent tha every minute error, even human error is over analysed and then proceduarlised.
De

Advice to Senior ManagementStreamline the process across sites.
Realise that human error can only be reduced, never removed.
Ensure that any process changes, even at "ground level" are fully prepared prior to implementation.

No, I would not recommend this company to a friend

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

1 person found this helpful  

Senior global management need to realise that the Manchester operations are in serious trouble

Senior Administrative (Former Employee)
Manchester, England

I worked at BNY Mellon full-time for less than a year

Pros- I have tried and struggled to find any...at best, this is some banking experience to put on your CV whilst you find something else

Cons- All the work is extremely mundane; updating spreadsheets, sending out the same emails hundreds of times or chasing people on the phone - unless you reach senior management level there will be no interaction with products, clients etc....don't be fooled into thinking you'll be carrying out glamorous banking work, travelling, negotiating deals...it will not happen. Asset Servicing is all the back office button-pushing work
- Corporate strategy and the latest managerial buzz words and projects are constantly shoved down your throat only to be dropped again, meetings usually take place just for the sake of having them or because "we've not had one for a while"
- Employees are promoted according to how long they've been there, or how close they are to the managerial "clique"...I once heard somebody denied a promotion with the excuse that the other candidate "has been here much longer, so it's only fair he gets it." Because of this advancement and career opportunities are hard to come by...promotion from entry level to senior clerk, then clerk to manager will probably take around 7-10 years if you're lucky, and the difference between entry level and managerial pay is much less than £10k. Any further promotion you're looking at decades...
- the vast majority of people have little or no educational qualifications which is worrying given the vast amounts of money they are responsible for....anyone with degrees in my department was treated with extreme suspicion and contempt. I was once told "a degree means nothing here" and myself and another colleague who came in through the corporate internship and brought in at a senior level were told everyone viewed us as arrogant because of this, and that was the reason no one liked us
- salary is far below market level and bonuses and pay rises have been virtually non-existent for years. If you actually want to pursue this line of work you may as well go and work at RBS or Bank of America who pay thousands more for exactly the same job
- Most of the work has been outsourced to cheaper sites like India and Poland which is phasing out jobs in Manchester; yet they still continue to fill job roles when people leave, when their leaving would probably have opened up work for other colleagues. Whilst working there I experienced a consolidation project aiming to eliminate wasteful processes that were no longer necessary. When I suggested merging two daily processes that didn't give two people enough work to do each day I was told this wouldn't be happening as "if we do that there won't be enough work for us"....rather than consolidating the work and moving one person to another team/department
- The office atmosphere and employee moral is extremely low. Most people don't have enough work to keep them going throughout the day and spend the days trawling the internet or applying for other jobs. Virtually every week several people leave to go and work for the Bank's competitors
- The hiring process is beyond ridiculous...as long as you turn up and seem relatively coherent you'll probably get the job...people with zero financial experience or interest or those that are obviously going to leave very quickly are constantly hired

Advice to Senior Management- Management needs to take more interest in the daily work their teams are carrying out and adjusting their hiring processes....if there is not enough work to keep people busy then new work needs to be brought in or people moved on
- Promotion should be based on merit and what individuals can bring to the role rather than length of service or relationship with management
- Senior global management need to realise that the Manchester operations are in serious trouble. Terrible pay structure and office environment is leading to people leaving, and this desperation is causing the hiring process to become extremely unprofessional. Outsourcing work is also driving people in Manchester out of their jobs
The bank might be able to afford to keep turning round jobs but they're also losing expertise which I have seen negatively impact clients and incur costly errors..the Bank needs to bring itself in line with its peers and senior management must become more aware of the people on the ground

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Career Opportunities
         

 

Stable custodian

Vice President (Former Employee)
Manchester, England

I worked at BNY Mellon full-time for more than 8 years

ProsGood investment in staff And core induction within Manchester base

ConsMediocre salaries and poor pay structure

Advice to Senior ManagementBetter communication and objective setting is needed

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Approves of CEO

 

Good introduction to a career in the financial markets however low pay was a minus point

Anonymous Employee (Former Employee)
Manchester, England

I worked at BNY Mellon full-time for more than a year

ProsComprehensive initial training and continuous support to study.
Young Workforce
Good work ethic.
Opportunities to move to different parts of the Bank.
Nice Offices

ConsLow renumeration.
Not a lot of opportunities to move upwards.

Advice to Senior ManagementAlthought there is a good work ethic that encourages hard work and career progresion there should be an increase of Pay in line with competitors in the area so that talent does not leave.

Yes, I would recommend this company to a friend

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • No Opinion of CEO

 

A good stepping stone

Global Income Specialist (Current Employee)
Manchester, England

I have been working at BNY Mellon full-time for less than a year

Pros- A well renowned comany worldwide.
- Strong fundamentals as a bank.
- A good place to kick start your career without real pressure.
- Plenty of opportunity in Manchester as a growth site.
- Senior management have plenty of cumulative experience between them.

Cons- As a growth site, there can be a high turnover of staff.
- As a growth site, salaries are much less competitive than at other locations.
- Lower level employees can be quite inexperienced.

Yes, I would recommend this company to a friend

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

 

Poor Professional Experience - There needs to be a radical overhaul

Income and Tax Administrator (Former Employee)
Manchester, England

I worked at BNY Mellon full-time for more than a year

ProsEasy working hours, good central location

ConsSome departments border on comical with high staff turnover; demoralised employees; horrendously low pay; little to no career progression opportunities. For me this was an extremely disappointing work experience. Poor management with surprisingly no interest in financial services or the broader economic picture. Arrogant management who refuse to recognise that there is a problem with their hiring, training, and remuneration. However, there are a few smart individuals working for this company but their efforts are not acknowledged which is a crying shame.

Advice to Senior ManagementRid yourself of your self imposed ego, you do not possess the appropriate professional qualifications nor transferable industry expertise. Start to take an internal look at what you bring to the table

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

 

Good exposure

Senior Analyst (Current Employee)
Leeds, England

I have been working at BNY Mellon

ProsFlexible working hours are a great add-on

Constoo much politics in Management

Advice to Senior ManagementNeeds improvement

No, I would not recommend this company to a friend

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Approves of CEO

 

good

Anonymous Employee (Current Employee)
Manchester, England

I have been working at BNY Mellon

Prosrelaxed frindly place to work

Conspeople leave all the time for better pay

Advice to Senior Managementincrese salary to keep experienced staff

Yes, I would recommend this company to a friend

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • No Opinion of CEO

1 person found this helpful  

I would say both eclectic and frustrating in equal parts.

Relationships Manager (Current Employee)
City of London, England

I have been working at BNY Mellon

ProsLaid back style of management with good people that make it worthwhile
Conservative bank with exposure to broad markets and a stepping stone for the future.

ConsTechnology is frustrating archaic and despite promises to improve it has become a hindrance.
Promotion is slow with no clear career paths, if your ambitious then it's best to try elsewhere
Management seem to be of a club of their own with no engagement with employees.
Pay and Promoion is lower than what you would get equivalent in the market.
To much focus on risk reduction has stifled innovation in some segments.

Advice to Senior ManagementStep by Step changes when trying to implement plans / Communcation
Improve the Technology and if you want to retain the best talent, pay more.

No, I would not recommend this company to a friend

Was this review helpful?
Yes | No
Add Employer Response Flag Review
RSS Feed Embed

Worked for BNY Mellon? Contribute to the Community!

Your response will be removed from the review – this cannot be undone.

Glassdoor is your free inside look at BNY Mellon reviews and ratings - including employee satisfaction and approval ratings for BNY Mellon CEO Gerald Hassell. All 1,008 reviews are posted anonymously by BNY Mellon employees.