It just seems things are getting worse and worse

People are stretched very thin, working so many extra hours for little reward. Benefits seem to dwindle more and more every year. Internal websites get clunkier and clunkier every month (most infamous is the oracle HR website) and are difficult to use. Layoffs are still imminent - it’s not the bloodbath people predict but all it takes is a few dozen per quarter to be noticed. There are plenty more to be had. So many have wished to be let go just for that package. Then there are draconian return to office metrics that micromanage you and have an impact on year end reviews. I’ve been here for 15 years and this year people seem most unhappy.

What is BNYM doing to fix some of this? I get other rival firms have their own issues but at least if you jump ship there, it can come with a large bump in pay. And other firms have been offering other new benefits. Seems BNYM takes and takes.

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I put in 7% of my salary, they put in 7% of my salary. This higher number is in lieu of a pension. They could give 3% and a pension. You will be much better off if you go this way and invest properly. Do the math.

@1aer

Grasshopper, I encourage you to sit with a calculator and compare the “7% match” with the match that you actually receive. The three changes in the past 7 years were all announced in weasel word emails written by lawyers on the assumption that nobody would check. Enjoy the rabbit ho-e and looking forward to your questions.

If you only knew how the health plan really works and who your premiums are paid to, you might feel differently. And yes, the HSA bonus was very nice. Helped to pay about 50% of my family’s out of pocket expenses…or should I say the very high deductibles for our plan?

i hate that they got rid of the hsa bonus. but oh wait they give free starbucks or whatever at 240 so that must be better

BNYM matches 401k up to 7% thats pretty good so not sure where Pi---d off in Pittsburgh is coming up with this stuff. Health plan doesn’t get cut Premiums do go up - but thats not a BNYM issue. And people get more than 1% raises - maybe you dont

You are so right. Our systems are actually hysterically funny if you don’t have to actually use them. It’s tragic if you do. Apps disappear overnight, suddenly it takes 20 minutes to print to pdf. This is bizarre world. And every week a new exec is hired. Mega bucks. I really really really really wish that our CEO or his directs would meet one on one with VP and below levels to really hear the truth. Nope, they will surround themselves with followers who yes them to death. Gee, wouldn’t it be great to have a CEO who was an independent thinker? Never happen. Go Elon!

Who cares, loyal to the end, go down with the BNY Mellon ship, then I collect unemployment

Leave BNY! I left a few months ago and I couldn’t be happier. You can do better. You deserve better

Each and every year in Pittsburgh since the merger has been worse. Every year health plan is cut, no exception. Nobody even gets a 1% raise. Bonus pool is severely cut. 401K match was cut four times, and the last two cuts were weasel worded to HIDE the cuts. Pension was gutted to a third of promised amounts in 2008 for 80% of the organization.

All of this even as Robin and the Executive Committee grow ever more rich ever more rapidly.

Up next: the company is preparing to face some headwinds and as a result, promotions and raises will be very thin in 2023.

Meanwhile we continue to hire expensive executives and if you look at the top 5 execs in the annual report and proxy next year, you will not see a tightening of the belt as a result of the headwinds.

Just my take on the topic.

Thread regarding Bank of New York Mellon Corp. layoffs

It just seems things are getting worse and worse

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