Why not skill up and join the party?
31 replies (most recent on top)
OMG NO -- No you should NOT move anywhere or make ANY really life decisions based on BNYM.
Please be smart. Do what is bet for YOU and only YOU.
Look out for #1 (YOU) 24/7/365. And be extremely good to yourself while in that environment, even on good days.
This company will sh----n you in a 3 minute 7am meeting (whilst you THINK you are up for a promotion and ki-ling it - leading your team, overwhelmed with work -- and suddenly -- after your surprise "catch up" call. These callous removals began 1/2023.
Any decision should be in your best interest only -- or do not do it.
It amazes me that there are so many at BNY with these huge salaries meanwhile those of us barely in the middle class are being let go in droves. They need to start letting go of the useless people making 200k plus another 200k bonus. That’s absolutely absurd.
I suggest talking to the folks at Pershing. They opened up an office in LM in 2007. Many folks who transferred from JC to LM are no longer with the firm. They carried their northeast salary to LM and over the years the Bank has pruned those experienced salaries out. Go at your own risk.
@5gku, rents are easily accessible online so I call BS.
Parts of Florida are appealing... at least for a week or two... but "wise" and Lake Mary (or any non-South Florida area) have no business being in the same sentence. Ever.
Last commenter obviously doesn’t live in Fl. Rents are through the roof along with home insurance that has doubled in the last 2 yrs. Insurers are leaving the state. And nobody wants to teach here because the pay is low and the governor is a moralizing a$$, fighting culture wars instead of making life better for residents.
Pretty sure that you meant “Hear, Hear”.
But no worries… we’ve been covering for University of Phoenix graduates here for four years and we’ve gotcha covered…
Florida is cheap and no hassle. No income tax. Low to no sales tax. Very limited taxes. One super low bill per year for schools, county, emergency services, police, etc. Northern blue states typically pay four or five property based taxes plus state income taxes. Tourism taxes carry the load. No state taxes on retirement withdrawals.
Get hurricane construction and homestead, which has huge benefits, unlike wimpy blue state homesteading.
Here here. Lake Mary should be "key" to nothing! The location should be a mostly back office subsidiary/entity, operating under tremendous oversight from larger region.
Lake Mary was key to BXP and subsequent virtualization through Greenfield.
If facts still matter here…
Enh. 190k might make you a 1%er in LM (doesn't take much). In Metropolitan NY I hope your spouse pulls down at least that amount to put you somewhere upper middle.
For people who had mentioned that my salary was low for NY I’m not sure if I was under paid. I’m in tech at L level I was paid 190k plus bonus in NY.
Bny tech is dead at lake mary. If your in IT GL
Right. They don't reduce it because the salary is likely already low. The roles in Lake Mary that correspond to NY based ones are low paying in either location.
@2bj…they don’t reduce your salary when you relo to a lower cost location. If you are too far from the median in your new location, you will likely get salary and bonus frozen and increases frozen or reduced, until your peers catch up.
Is it really worth it to you to make the big change in where you live just to stay with BNYM? Lots of things to keep in mind - cost of relocating (Florida is not cheap). Extremely high home owner’s insurance which also translates into high rents (so that eats away at savings from no state tax). And pay attention to the Florida politics. While that draws some people to Florida, there are plenty who are leaving because of it. Just make sure it fits in with your personal beliefs.
@1jng+1s9enkJk, keeping your salary only means you weren't paid a NYC salary. So don't look at it as a positive
Moved from NY to Lake Mary last quarter.
Paycheck same as NY , being a growth center and new roles opening up only in FL or Pitts is a strong reason. No new openings in NJ or NY
Noooooo!
Awful do not even entertain Lake Mary, surprised it is considered as a growth center.
@tpt+1s9enkJk you think executives vacation in Lake Mary? REALLY??
It's an hour and a half drive from Orlando to Tampa. Doesn't make any financial sense to keep moving for job opportunities. Car and house/renters insurance is astronomical
No talent in LM do not waste your time.
I would NOT let this company be a factor at all when deciding where I want to live.
You will have to take a haircut in your salary as you won't be paid NYC metro salary in a lower cost location.
The housing there is not cheap. I don't get why it's seen as a cheaper area save for the state including me tax.
However, housing is astronomical, food very high, endless traffic. Look before you leap.
No, even though it’s a growth center I would not want to work for this company if I switched groups. It’s better to just interview on the outside and go. But I think you already know that.
Yes! Growth center and no state payroll taxes! Nicer weather too! If you get laid off they have lots of banking jobs in Orlando and Tampa! Executive do nothing managers will never get rid of Florida locations so they keep visiting and enjoying vacations at the co. dime!