BNY Mellon Employee Reviews about "senior management"

Pros

Large organisation, with varied businesses provide a wide spectrum of experience.

Cons

Senior management changes every few years, each time bringing new strategies (similar to the NHS). All previous plans are scrapped and we start over again, on a path already tried a few years ago. Middle management is a joke. They are political charlatans who care nothing for the company, the clients or employees. This fudgy lot play politics and favouritism, in every effort to maintain their position. The constant change along with self-serving management style leaves employees in a toxic work environment with no future at the company. Most leave fast and there is a high staff turnover - which cost your shareholders dearly.

Pros

In general, the people are good and there is a general willingness to do things right amongst the administrators. City centre location is good.

Cons

The pay is poor. The parameters for any bonus are vague and open to interpretation, and therefore comes down to the opinion of your manager. Lower management are tick-box supervisors, with no interest in developing their staff. Their prime concern is flying under the radar of their bosses. The systems are appalling and require a huge overhaul and investment tha the company is never going to make. Training is weak, especially in areas such as CASS, where no attempt has been made to make it relevant to your role, and overall knowledge is learned through word of mouth from selected staff. Work life balance depends on the manager so there are no guarantees. This is especially true if you are male. Staff numbers have been cut by approx three quarters so it is doubtful if there is a long term future. This has been ongoing for over two years and the planning has been nonexistent, so staff have been allowed to leave with no plan as to how their work will be done in their absence. Favouritism. People promoted into good management positions with no interview. There is no real drive amongst management to tackle the major issues, such as training, the systems or the imbalance of knowledge held by a few and the office appears to be drifting. There is zero connection between teams, except for lynx messaging or email. Only four floors but you can go months without seeing anyone from another department. Furthermore, some managers revel in closing ranks and making it as difficult as possible for other teams by refusing to allow their staff to assist other teams who need help. The new Chief of Operations is invisible and is more concerned at name dropping her relationships with senior management. Essentially, upper management have been so focussed on the reduction in staff numbers, they have completely dropped the ball in terms of general operations,

Pros

Good people, friendly atmosphere at the lower levels. Lots of internal opportunities for progression and sideways movement. Excellent training programme. Company likes to push for individual development.

Cons

Young environment leads to unqualified, unprofessional, junior staff working on high profile initiatives. Serious disconnect between senior management and lower level managers/staff. Internal movements lead to senior managers leading groups where they don't actually know what the function is and cause extra strain as they are carried by the team. Favouritism from senior management leading to unjustified promotions for inexperienced team members. Individual development often comes to a cost to the wider team.

Pros

• Good name to have on CV • Work hours were good, even in busy periods • Company pension was generous in their matching to your own contribution

Cons

• Extremely low pay • Very high turnover of staff because of other banks moving to Manchester and offering £5k-£10k more than BNY Mellon • Senior management were cliquey and had their favourites • Good work was hardly recognised if you weren't in the "clique" • Too much reliance on hiring school-leavers (who could then be paid low salaries with little complaint) • Majority of staff had little interest in the industry • A lot of micromanagement

Pros

Experience a wide range of business activities across the globe. Great training opportunities. Most people are friendly and trustworthy. Great work-life balance.

Cons

Additional layers of senior management are created for the old boys network and filled by well-spoken yes-men with limited knowledge or experience, and who do not follow policies..These positions are mostly not advertised, filled by prior arrangement, and therefore impose a glass ceiling for internal employees. Even the top performers have little or no prospects of career advancement, complete with non-existing salary increases or bonuses. As a result the better performers leave in large numbers, and the weak ones with limited knowledge and poor performance stay behind.

Pros

Good opportunities for progression, inclusive work culture, open to change, initial basic salary is pitched at an appropriate level, opportunities to push yourself and learn something new

Cons

Salary increases are poor, under use of incentives (financial or otherwise), no compensation for increasing experience, unable to compete with local competitors for experienced staff, confused message from senior management, disconnect between effectiveness of cost cutting and promotion of risk management

Pros

Benefit scheme and training courses.

Cons

The senior management in Manchester Finance department is unprofessional. They don't care about retaining good dedicated staff. No respect and no reward from the management team. There is absolutely no career path and progression. There is favouritism where one could get promoted every year and the management would give you thousands of excuses not to offer you a promotion, even though you are more skilful and more experienced than their favourite ones. Salary is well below industry average and annual salary rise is minimal. Staff turnover is very high. No work-life balance.

Pros

There is an international mix of co-workers who are also social outside of work. It's a good place to learn the ropes, and they sponsor professional qualifications such as the CFA and IMC.

Cons

Career progress is slow and there is no obvious talent management strategy aside from fairly vacant presentations etc. I found that promises made by senior management of my division were not stuck to, and similarly more immediate managers are not empowered to take decisions - the asset management division is a very top-down micro managed organisation. I wouldn't have stayed for as long without the GFC making moves risky and tricky.

Pros

- It looks good on your CV - people are impressed by it i.e. those who do not work there - you can spin your experience and make the most menial tasks look like you had real responsibility - you can learn corporate know how and get inside information about the company

Cons

- The pay is low, very, very poor - The senior management are very young and inexperienced - There is a culture of anti-intellectualism where having a degree makes you the subject of negative envy and the culture of "do you think you are better than us?" - anti-social, cliquey culture - homogeneous with mainly local staff members who have a lack of experience of the outside world - senior management are distant, unapproachable and there is a blame culture - difficult to form personal relationships at work or enjoy work - a lad culture and "not in my job description" culture - dealing with IT queries is tedious e.g. there is a problem with a computer almost every day - working at BNY Mellon is not as attractive as working at Goldman Sachs, Bank of America or Ernst & Young - Constantly watched and under surveillance with supervisors logging your mistakes to use against you when possible - Long term career prospects are dire - Men are immature - Senior managers and HR block internal career progression