Bank of New York Mellon Reviews

Former Employee – worked at Bank of New York Mellon full-time for more than a year

Pros – The career development is really good established, as there are many training programmes that you can attend to get new skills. The work-life balance is supported well, and there are some exciting opportunities for volunteering.

Cons – The remuneration was much less compared to the industry average. It depends on location, but some of the people didn't have enough educational background though were doing job well.

Advice to Senior Management – The company could find better employees from overseas by offering work permit.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

Current Employee – been working at Bank of New York 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 Management – Try to focus on technology

Yes, I would recommend this company to a friend

Former Employee – worked at Bank of New York Mellon full-time for more than a year

Pros – Easy working hours, good central location

Cons – Some 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 Management – Rid 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

Current Employee – been working at Bank of New York Mellon

Pros – Laid 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.

Cons – Technology 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 Management – Step 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

Current Employee – been working at Bank of New York Mellon

Pros – Level of management experience
Rewarding for those who look for a challenge

Cons – Manchester operation will only satisfy some of my needs with regards to career expansion

Yes, I would recommend this company to a friend

Former Employee – worked at Bank of New York Mellon

Pros – It looks good on a CV

Cons – Ludicrously high turnover of staff due to gross mismanagement, and even in the economic downturn, the salary is insulting. Senior positions are occupied by careerist chancers, and there is a terrifying knowledge gap for a company which is looking after billions of pounds of other people's assets. Almost a Stalinist work environment - anyone expressing any sort of dissatifaction or even suggesting ways to improve are viewed with suspicion at the very least, at worst some staff are victimised by senior management

Advice to Senior Management – Probably too late. More than staff are in the process of leaving of have already left this year, mostly to RBS who pay in line with other companies. It must be clear to senior management in Europe that the move to Manchester has turned into nothing short of a disaster, brought on by their own arrogance in taking advantage of the economic climate and paying less than your average call centre for a job you can get 10k more for 40 miles away in Leeds. Their refusal to waver from this, or even acknowledge there could be a problem, has led to a decline which can only be halted by basically starting the entire site from scratch. It's like working in North Korea, pretty much

No, I would not recommend this company to a friend

Current Employee – been working at Bank of New York Mellon

Pros – Hours worked aren't too long
When promotion opportunities arise they are filled largely on merit

Cons – Very poor bonuses paid, little differentiation between high and low performers in terms of renumeration
Little or no professional training given
Blame culture is rife especially at senior management levels
Senior management attempt to micro-manage the business

Advice to Senior Management – Increase professional training to all by a huge margin
Allow people the freedom to 'fail' without finger-pointing in order to encourage innovation
Allow managers to make decisions
Increase differentiation between bonuses paid to high and low performers

No, I would not recommend this company to a friend

Current Employee – been working at Bank of New York Mellon

Pros – Relatively stable
Pay is OK
Relatively relaxed
A lot of work still to do to complete the merger
Most staff

Cons – EMEA technology is ignored
Very big "tick the box" culture
Lack of focus on completing a good job
Lacking in technical management in EMEA
Increasing feeling of despondency

Advice to Senior Management – On a technology front there is very little focus on EMEA
I think many staff in London fear for their jobs - more reassurance could go a long way

Current Employee – been working at Bank of New York Mellon full-time for less than a year

Pros – good culture is there for employees

Cons – low growth is for emp

Advice to Senior Management – na ... ... na na na-------

Yes, I would recommend this company to a friend

Current Employee – been working at Bank of New York Mellon full-time for more than 3 years

Pros – Down to Earth atmosphere, can gain insight on numerous financial instruments, will see a solid foundation into the real world of finance & accounting from a custodial point of view. Tuition reimbursement available as long as other benefits.

Cons – A Limited focus on individuals development tracks. Paths and opportunities are present, BUT there is a lack of both time and guidance from upper level employees in assisting one to meet their goals. Success does happen but it's sometimes difficult to get there. Salary is par at best. Dedication isn't rewarded and poor performance isn't acknowledged enough.

Advice to Senior Management – Step 1 - Management should become more involved in what the staff they manage does on a daily basis. Step 2 - Managers should praise where deserved and increase awareness to those whom aren't meeting expectations.

Yes, I would recommend this company to a friend