In my opinion every financial institution has the same problems just in different amounts. For example, there is very little transparency, a lack of vision/clear direction and most importantly - top heavy. You can trade one company for another, but in my experience - there will always be the same problems. It astounds me when colleagues say they are going to work for such and such, then after time passes they complain about the same issues their previous employer has.
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Bny is by far the most toxic place to work based on what is on here. I would not like to work there...ever.
I guess BNY Lemon is still in the rat race fighting to reach that 1st place in the world of Banking industry. They are just running and trying to jump on the bandwagon where the other banks have already won a medal .In the race where Big Banks like JP, Goldman, BOA are already running fast they might as well topple over and the workers get pushed out due to lack of vision,strategy and goals to reach that position. It should know what other Banks are doing and we aren't if they really have to win a competition with them.
This is true for Large conglomerate banks like BK. Not true if you go into niche competitors that are private.
Let’s face it. Working for a big bank sucks. Everyone is there for the $ and there is no hope. Find the right small player that wants to grow big and there will be opportunities aplenty.
If you want to coast at BK I can’t fault you, but it is not and will not be a growth place.
The worst thing is we don't need genius leaders to implement some new state of the art financial solutions. All we need is leaders who can do management 101 correctly.
- Create 1, 3, 5, 10 year plans and figure out what projects are going to get us there.
- Prioritize those projects
- Fund those projects
- Have clear, realistic deadlines that are flexible
- Delegate and reward results
- Provide the tools for employees to do their job
- Teach them how to use those tools
- Copy google, facebook, amazon, ebay, myspace when it comes to systems development, infrastructure and implementation and support.
- Hire qualified people wherever they are available, not in some pre-conceived "low cost" area
and the bottom also floats between the same financial institutions and brings their culture and bad habits from one place to another.
That’s because at the top they all switch amongst each other and bring the same problems and poor ideas with them.