I noticed many new recruits who join full of excitement and hope for the future quickly realize they've made a huge mistake. I don't want to feel bad for them since they made their own bed (never join a company before doing proper research on it) but I still do. So here's some advice from somebody who's been here long enough to be able to provide it. Do yourself a huge favor and find another company. BNYM is by far the worst pick out of many. You will not be happy here.
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They didn't cruit the first time, how can they recruit?
There are greener pastures. Every day LinkedIn is full of folks who are starting a new position elsewhere. This is not the antebellum South where the enslaved could not leave. Find a new gig and be happy.
BK doesn't recruit.
Need it b said... rearranging the chairs on the titanic
Ok sure, that makes sense. The others mentioned actually are or were CEOs. There is only one CEO but it’s become fashionable to have dozens of CEOs, CIOs, MDs etc. I am actually CEO of our copier and color printer.
Suresh was CEO of iNautix. Hence the conflict of interest when he was CIO of BK and outsourcing all our jobs to iNautix.
Suresh was never CEO. He was a techie who rose 3 levels above his Peter Principle limit to CIO (not CEO) because he once saved money on a project for “the most important woman in banking”
Morale has been at an all time low ever since forced below expectation ratings became part of the culture. They have the same forced ratings but use different terminology now.
hoping the new CEO takes the culture in a positive direction is unrealistic. Bob, Suresh, Charlie, Todd were unable to take this bank in a positive direction.
They may be shuffling people around but BNYM can't get it right with management promotions. The criteria and skillset for a promotion to senior management is a mystery.
The new recruits can use BNYM as a stepping stone and leave once an opportunity opens up.
I wouldn't get anyone's hopes up about the new CEO. They all want to make their mark, but that usually isn't about improving a toxic culture. Expect a lot of shuffling in the Exco and senior leadership. It's already started with Frank LaSalla's departure for the DTCC CEO role.
While I agree that there are real problems with the culture, I don’t think that’s a fair statement.
It still works for some. One of the positives about BNYM, a reflection of how thinly staffed it is, is in many areas there are opportunities to get involved with things to a degree that employees at that level likely would not elsewhere. That can allow them to gain the experience needed to make a career jump. I’ve seen that with many people over the years.
So I think people should be cautious. But not rule it out. And hopefully the new CEO takes the culture in a positive direction.