For all of you that have been accepting new graduate hires on your teams and departments for the campus analyst program little do you know they are coming in making 52k in the Pittsburgh office which is more than individuals who are Analysts and Sr.Analysts with the company for years. Such a shame Mellon just can’t figure it out.
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I think the only analyst relevant to this discussion is a psycho-analyst for anyone who wants to work here.
They're getting ripped off! PNC Rotational Analysts make $55k plus $5k sign on bonus!
I started at 32,500 11 years ago. Probably have the same degree as many of these guys from the same institution in Pittsburgh...
Most of these campus analysts are friends of the family of managing directors and executives...go figure. It's why they show up all smug, know nothing, do nothing and get paid more. It's also why they are treated as though they special by all the other managing directors. They are only there to add a title to their resume after college, make connections with the higher up cronies and their young family while collecting a paycheck to buy stylish clothing until they move on to their real career job in a year or two ...nothing more.
It's disgusting behavior to see for those of us that take our customers projects and activities seriously, work hard and honestly in the hopes of fair recognition to support our families with decent pay.
I do not think 52K is that high.
Here is the info reported to the government (H1B hires, therefore BNYM has to report it to the gov) - just look for Analysts, the lowest I've seen is at 60K - keep in mind these are mostly Indian hires and none of them have US degrees.
Here is the link
https://h1bdata.info/index.php?em=Bny+Mellon&job=&city=&year=All+Years
It's a complete joke of a program and a slap in the face to anyone that worked their way up. The campus analyst in my department does absolutely nothing except hang out on the innovation floor all day drinking free coffee and thinking of his exit strategy. The favoritism shown to him has led to at least one of my coworkers posting out and practically everyone else in my department looking for a way out. Beware if your team gets one - the smug starts from the top with the witch that runs the program.
The same stuff is happening here in Massachusetts. They're hiring former Dunkin Donuts employees and paying them at the same rate as those who've been here for years.
What does a “campus analyst” actually do? From what I saw they sit in the corner, never interact with anyone, and send off emails to some boss at another site.
I started out at $35,000 as an analyst in Pittsburgh 3 years ago have moved up to Sr.Analyst where they would only offer me $45,400 and now we have college grads with the same degree and less experience making as much as team leads pisses me off.
It is kind of a kick in the face to those of us that started a few years back and were offered like $15k less. I'm glad they are now offering new grads more but the fact they won't adjust current employees salaries accordingly is pretty annoying
$52K is the average starting salary out of school these days. It's probably even low compared to other financial firms on Wall Street.
Pittsburgh was historically a major city but is now is a mid-sized city with small city pay scales and a small town feel. As in any small town, everybody has the story on working at BNYMellon since 2007..
So... three categories of applicants:
-Clerical for cheap family medical when spouse is main breadwinner. Pay grade based costs, out of pocket max and bank HSA contributions equate to well over a tax free $10K yearly family raise.
-Displaced & desperate for employment .
-Risk takers taking shots for a really great pay increase.
So... the calculus is neither experience nor what current Pittsburgh senior analysts make.
The calculus is whether a job could possibly be done in India, and if not, how much cheaper it is to hire in Pittsburgh relative to New York.
Same thing with these contractors they are bringing on. They are paying them a much higher salary walking in the door and giving them the days off before and after major holidays. It's all part of the tactics being deployed to replace employee benefits. The company doesn't want to pay for benefits like healthcare, 401k etc.
These people are useless, know next to nothing and are putting customer activity at risk. But as long as they play the company politics, they are "in".
What a dump