Worst experience in my career - Senior Analyst BNY Employee Review

1. Lack of Onboarding and Integration: From the very beginning, my experience at BNY was disappointing. There was no introduction or onboarding process, which stands out as the worst I've encountered in my career across three different banks. I was left without any team assignment or responsibilities for an entire month, and I did not even receive a face-to-face greeting from my manager. There were no onboarding activities, no training provided, and no sense of belonging fostered within the team. If it weren't for my three years of Corporate Actions experience, the team would have been in an even worse position due to the complete lack of support. 2. Favouritism: Favouritism is a serious issue within the company. Despite working diligently for 11 months, I have never had a face-to-face conversation or a one-to-one meeting with the senior manager. In stark contrast, other team members were directly approached by the senior manager. It was only recently that I had my first one-to-one meeting with my immediate manager, but still no interaction with the senior manager. This blatant disregard for hard-working employees is disheartening. 3. Inadequate Compensation and Unjust Promotions: The pay at BNY Mellon is uncompetitive, especially considering the market rates. It's absurd that analysts are paid more than senior analysts, with overtime factored in. The promotion process is equally flawed, as it appears to be driven by favouritism rather than merit. This has resulted in deserving employees being overlooked and undervalued. 4. Prejudice/Racism: I encountered what I believe to be prejudice in the workplace. After working on a large batch of exchange events alongside a colleague, the senior manager assured us that our hard work would not go unnoticed. However, the next day, my colleague received VIP points (basically cash bonus) while I did not. It wasn't until two months later, after I raised my concerns in a management feedback survey, that I was finally awarded VIP points, along with another analyst. However, the recognition felt hollow, as the message we received was a clear copy-and-paste, lacking any personal acknowledgment or genuine appreciation. This experience not only highlighted the underlying prejudice within the company but also demonstrated a lack of sincerity in how employee efforts are recognised. 5. Poor Recruitment Practices: The recruitment process at BNY Mellon is deeply flawed. The company consistently hires individuals with no experience in Corporate Actions, which places an undue burden on existing team members to train them. These new hires often lack the necessary skills and understanding, requiring constant guidance and repeatedly asking the same questions. This is especially problematic when even my immediate manager, who should be leading and supporting the team, has zero knowledge of Corporate Actions. While it’s understandable that a manager may not need to know the intricacies of processing within the system, they should at least possess basic fundamental knowledge of the field. Instead, we are spending 99% of our time explaining fundamental concepts to him every day, which is not only inefficient but also hampers the team’s overall productivity. 6. Poorly Managed Team Split: The decision to split the teams into Payments and R&I was handled terribly. Implementing such a significant change within a single week, without adequate planning, was a mistake. The reorganisation left critical aspects such as procedures, guidelines, templates, and task allocations for us to figure out on our own. Now, the company wants to merge the teams back together, acknowledging the poor decision-making process. This lack of professionalism and foresight is shocking for a company of BNY’s stature. 7. Unilateral Decisions and Disrespect: I was made the only senior in the Payments team without any prior notification or explanation from the senior manager who made this decision. It is astonishing that a decision of such significance was not communicated to me directly. Out of basic respect, the senior manager should have personally informed me of the change and provided an explanation of the rationale behind it and its impact on my role. Instead, I was left to discover this change indirectly, which is both unprofessional and deeply disrespectful. This lack of communication and consideration makes it clear that my contributions are undervalued, further highlighting the favouritism and poor management practices within the team. Expecting one senior to manage an entire team without proper support or communication not only increases the risk of manual errors but also jeopardises client relationships. How can employees be expected to care about their work when management fails to show them the basic courtesy of open and respectful communication?