They offered me a fairly lucrative position, but I'm reading a lot of negative things about BNY. Seriously considering declining. Glad I came to this site first, understanding that there will always be some disgruntled employees. (But this is a little much, and most of it verifiable.)
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I will be here ten years later this year. I love my job and the people I work with daily. So I would say yes.
Now…. People, even the happy ones, do have complaints. They don’t like being in the office, they don’t like have office space and having to share a desk, heck they don’t even like the music played in the bathrooms! My point….. If you are a complainer then you are going to complain. If you aren’t then you will get frustrated sooner or later and then get over it.
I left and initially took a lower pay, but the benefits were better so it evened out. I could never recommend BNY
How is your severance package look like? Is it still 2 weeks per 1 year and max 1 year?
@j4+1jm2yvm93
Look at it this way, you gave it all you had and you had a great career. I am hoping you are set and do not need to work anymore. You are also Eligible for the small pension before Gerald stopped that in 2008. Other thing is, they were honest with why you were sent out. I get the impression they didnt mess with your last review. Question.. were you in asset servicing, technology, ops?
I was let go after almost 30 years with the company. Why? I was told I make too much and India staff is much cheaper labor. I never had a bad review, no personnel issues, no attendance/RTO issues. So it really does not matter if you do a good job or not with this company. If some higher up thinks you are replaceable, then you are out. Am I bitter? Maybe a little. Was I surprised? No. Am I happier? Yes, 100%. Do I ever want to work for a financial institution ever again? Absolutely not. My advice is to look elsewhere because this place will su-k the life out of you.
Watch your back.
Do you like 2% "raises"?
@fm+1jm2yvm93
Your posts show you as poorly educated offshore. You have very crude written and low communication skills. And resorting to obscene comments and racism also demonstrates that your parents were failures.
The prune juice advice is probably something you should follow to the letter.
"white trash"
"and they do not trust anyone from the old loser pools - who want status quo , basically be lazy and an automaton can replace them"
"whatever name calling these losers resort to"
Talk about the pot calling the kettle black... Don't take advice from this person, please.
Not throw up - throw away. The post was not edited. So this becomes the last post :)
@fh+1jm2yvm93 and folks like him call anyone who offers an advice as Mr 42. And you could, potentially could throw up a good opportunity.
This place is undergoing lots of changes - it is disruptive. And any disruption is an opportunity. Again it depends on how aggressive you are in leading and getting results. If you are a follower - follow these losers.
You may wonder why am I in this board. I joined during the Covid hiring frenzy (so I am not the Mr 42 ) and I am caught on the wrong side of the fence in this P-M upheaval. So I am looking to get canned. But if you are coming in as a fresher (with a great offering as you mention - implies you are VALUED ) you are in the right side of the fence. On the side that can grow.
Bottom line - if you worth the money they are offering you then you can lead and shape the groups with your ideas and plans. They really need a leader (and they do not trust anyone from the old loser pools - who want status quo , basically be lazy and an automaton can replace them ). I am not able to transfer over as I am tainted (from their perspective). For me it is a uphill battle to remove that image where as you are coming in afresh. No baggage.
Also think like this way. You will learn and lead and shape and the learning will help you to be a leader if you decide to move on with another firm. IMO , some one is giving you a opening to lead a group in this big firm.
In the end it is your choice. But do not base it on this forum
Last post on this - whatever name calling these losers resort to. They all deserve to be kicked out (no mercy - I would love Musk to come over here and do the pruning )
Go back and follow your in cestual practices and sa tan worship .. That is what you are fit for - white trash
Nobody should ever listen to 42…(..f8+1jm2yvm93)
He comes on here day after day spouting nonsense. He knows nothing about.
1- He doesn’t work for bny.
2- Despite all his great claims, recently he admitted he was average at best. Average pay in his salary band & average grade level despite putting in all this supposed work & time.
@f8+1jm2yvm93
And you my boy, need to consume two quarts of prune juice and milk of magnesia immediately as you are full of bull by the horns. You are one of these paid homers for glass door and linkedin aren’t you? Yeah, this place is just 7th heaven. Stock price is high because people are being slashed and fees are being raised. But please Peter Pan, do go on with the advice.
Simple Accept it.
This is a WRONG place to look for POSITIVE and REAL feedback
You can learn (it is evolving and it is changing. There is lot of chaos and they are finding their feet. You can have a positive impact, take the bull by the horns and guide them But you have to be a LEADER in your mind - not a subservient worker.
If you have that ATTITUDE then you can really rule this place It is in shambles and deteriorating but you can build it and thus become the star.
It is all in your attitude
Guess what - this will get broad based negative voting. Just do not , please do not make your career decision based on this forum.
Look at the stock price - ALL TIME HIGH .. and is speculated to go even higher. The investors are seeing positive growth. Be a part of it ,, if you have the mindset to LEAD from the front
I would not recommend this company. If layoffs happen in your new group (which will happen) you would be first out the door. Constantly seeing entire groups suddenly disappear will really cause you depression and mental instability. Better to go work for a smaller investment firm.
If you accept, have future plans in your back pocket. I started here pulled by the allure of “big banks”. Day to day things were ok, but the higher level trajectory and certain things I noticed that really bothered me never went away and kept happening. I’ve since left for a smaller company outside of banking. The experience of being in a huge company I think has helped me in my new role, and for many outside of the large bank industry, “big banks” still have a sense of prestige that may help your prospects in the future. I wouldn’t say just reject the offer unless you have other prospects that feel much better, but maybe go into it with a little skepticism. Give it 3 years and evaluate your experience honestly. If things aren’t feeling great, move to a different industry and ride the coat tails. Big banks don’t have the same power on a resume as experience in the FAANG companies might, but it’s still better than a bunch of smaller companies most people don’t know.
I would not come here unless you are absolutely desperate or ready and willing to sell your soul.
As a long time employee, I completely agree with @as+1jm2yvm93, it's disgraceful what this place has turned into.
I left and took at 20% pay cut. I’m 200% happier. I’ll take that return on “investment” any day.
Don’t accept their offer.
Let me ask the @OP two questions (not sure whether they were discussed somewhere in your hiring process):
1 - Would you be ok knowing that if you leave BNY (or they terminate you), any unused vacations accrued in a given year will be NOT paid (unless you live in a state that requires that)?
2 - Would you be ok knowing that 401k matching is not paid with every paycheck but instead paid once in the following fiscal year, and if you lose your job before a day in October (forgot which one), you won't get any matching comes March?
If they are bringing you in, you are safe. You will gain a lot of experience.
If you value your time, stay away.
If you are in a manager position, be ready to just lie to your employees.
I have been here for 20 plus years, and sad to see what we have become. Really sad
If you have other offers I would definitely avoid coming here. If you are in technology the culture is 6-7 days per week and 18 hour days are not unusual. Also you’ll have to deal with open preference for visa employees.
If I was comparing against another offer I would take a 25% pay cut for a better culture in a heartbeat.
The tone is definitely changing in the last few years with too much emphasis placed on financial performance. Still, it all depends on the role you’ve landed. I worked for many years for another large global custodian before BNY and I still think BNY is a great company to work for and certainly better than the other GC in many aspects. Top clients, a good few smart and knowledgeable colleagues, generally good environment, good perks. From a financial perspective I also found that BNY is also better than others (bonuses in particular are larger).
That said, it all depends on where you land, who’s you manager and, importantly, your LOB executive (MD level). Also, I think it is likely a very different experience working BNY in Europe (like I do) and in the US.
Please remember, the grass is not always greener on the other side.
Depends on line of business and location
Employees are replaceable here so I would come to create a career unless you drink the koolaid and ready to grovel to leadership.
If you’re looking for a job and need something then I say go for it. If you’re looking for a career, then I wouldn’t bother working at BNY.
If you value your emotional wellness, don't come to BNY.
Define ‘lucrative’ in terms of money and benefits please. If you are unemployed then come here. If you are well like where you are, stay there or keep looking.
The one thing that’s good about the open office environment is I can hear what some of these executives are talking about as I sit near some……and it is despicable the way they talk about some of the employees….. all I can say is, I hope karma hits them like a ton of bricks
I was surprised at how dated some of their technology and processes were. Money is great, but so is staying relevant.
Unless you don’t have a job or you’re right out of college. I would not come here… Not a chance. And even if you’re right out of college, and don’t have a job… If you accept, I would be looking immediately for something else
I can not even describable the environment here and how awful leadership is and how little they care about the employees.
Whatever they’re offering you and claiming your bonus will be it won’t be that I can guarantee you … And whatever benefits they’re telling you, you will get, something will be taken away next year