Received an offer yesterday for an engineering position. Is this a bad time to join. Its a significant pay increase from my previous job. I feel secure at my current job, these threads have me worried. They want me to let them know by the end of the week.
39 replies (most recent on top)
Everybody wants you to succeed. It’s the same toxic employees every day here. You sound like a rational person. Take that job for a nice increase and don5 look back.
To the original poster...
If the increase is $30K over what your are currently earning, it's significant and you should probably take it. And because you are new to the firm, your manager will likely keep you out of any real consideration for layoffs for at least the first year, unless you are truly a poor performer or they close the office you are in and you can't relocate. Do you job well and you'll likely be stable for at least a few years.
@sk same thing happened to me this past week. 30 day improvement development plan and have a performance warning in effect for 12 months where I can be “terminated with cause” at the drop of a dime.
Does anyone put on a PIP in 2025 have a similar 12 month termination clause?
So where oh where do the trillions in managed assets and assets under custody come from? RV's left hip pocket? You? No, clients. Not employees.
@sk+1jmyp91vj
Tell your manager in an email you do not feel safe. You are threatened and feel harrassed. Call in sick that day and every day afterward
I got PIP’ed this past Wednesday, got now 27 days before I’m chopped. Received a baloney partially met expectations in Dec. Now I got invited to an All Hands conference call for next Friday. Wtf??? lol
So original poster,
What are you going to decide? Are you going to keep looking or get in the BNY Titanic submersible and come for a ride?
Man I am so tired of this f**king 42 person, what sadistic pleasure in trolling others? lowest level of layoff? WTF..if you don’t have something useful to say,be quiet..people are already down and looking for advice,DONT TROLL!
Stop wasting your time in this dysfunctional corporate graveyard! Get out of here!
It's always a bad time to be at BNY
401k match is not paid if your here in Oct, must be here on 12/31
Basically a troll that comes on here, spouting nonsense day after day , and trying to kick people when they’re already down on this form.
doesn’t matter… He no longer works at the bank even though he thinks he knows everything going on And despite his claims of greatness, he admitted recently he was very average
who or what is '42'?
It keeps getting mentioned in different posts.
Not sure if you were told but at BNY:
- Unused vacations will not be paid if you resign or the bank terminates your employment
- 401k employer matches are only paid in the following year, assuming you're employed until October of the previous year
Think about that.
42- this new employee will be brought in way over your pay rate for your very average career & what must’ve been a very average work ethic.
& shouldn’t it be 43 years now for you big shot
Don’t listen to Mr 42. He purposely gives bad advice and thinks he knows everything even though he’s been retired for 15 years. You might be ok for 2 years depending on your location. I know they are creating pods or something within the teams plus engineering to use AI and automate everything. You’ll be good until that project is over at least if that’s what you’re getting hired for.
Two year guarantee LOL ;-)
I wouldn’t worry. Layoffs are at the lowest levels in 42 years and anyone who will actually (shudder) come in and work will be treated like gold.
If you feel secure at your current job, why were you looking for another? Nobody has a crystal ball. You could be let go from your secure current job anytime. You could be let go at a future job. If more money is what you want, you were offered it. No brainer.
Given the increase you maybe should take the job.. Don't know how you manage to run a family of 5 for 115k nowadays. You are a hero. 30k split bi-weekly and after tax may not give you huge bump but 2k more per month is noticeable also add in possible small bonus and 401k match and maybe it's worth it. You probably don't need to worry about 401k match paid only starting next year because likely vesting only takes place after 1-2 years (maybe wrong here)...
It is worth accepting the offer. You will gain valuable experience and bolster your resume. They aren’t gonna hire you to let you go. Your stress and anxiety levels will probably go up. They will put you through your paces but you will be better for it.
Never follow 42’s advise. He’s a big talker & recently admitted he’s avg at best.
All productive employees love working under forced Ranking systems.
Slackers? Not so much…
Dude… you don’t give your employer money. You sell your time to your employer.
Allow me to guess… University of Phoenix Grad?
Idiocy. Nobody gives money to the bank. You are seriously confused.
Linked in really is a joke. It’s all posturing except for being useful to find people with whom you’ve lost contact.
OP here. My current TC is $115k, this would be ~$145k. Pretty big change for my family. It’s a step up position for me. I’m married with 3 kids. Would like to stay here for a 3-5 years at minimum. Have 3 months emergency cash + could liquidate and take the hit on some investments if I’m let go.
@ac+1jmyp91vj
Linkedin is a joke and this guy is not going for c-suite. Mag7, pharma? Stop the nonsense please. The OP person asked very specific questions and doesn’t deserve this half baked B S.
Great feedback my other commentators, are you joining BNY to play the long game? Or just a short stint? What’s you backup plan if you are fired? Is the pay bump worth it? Are you ready to commute 5 days a week? If you have answers to all these questions and willing to join,go ahead! Good luck
Poster @a9+1jmyp91vj is gold on this…
If you are single and can devote a lot of time and are willing to put up with extra hours that you will not get paid or comp time for then fine. Be prepared to get texts and calls from your manager at odd hours. If you have young kids or old parents or specials needs for time away, you will likely get criticized for it. Get all of your wants in writing and agreed if you decide to say yes
My take is almost every company these days is looking for ways to financial engineer to keep the stock price and board happy. In BNY, it has become very severe in the past few years with new senior management who simply see "legacy" people as distractors.
I track a specific pharma company in NJ. Look at the NJ warn notice. You will see which one and will wonder who is even left in that company if you look at the rounds of layoff and the numbers.
I was talking to someone who work in a mag 7. Clue: books. Similar forced ranking and ongoing firing there as well.
Don't simply go with the negative points in this forum from people who hate RTO.
On a positive side, I have seen many grow in career and income potential by jumping from one place to other every 4 or 5 years. Look at the LinkedIn profiles of most of BNY C level folks.
Rolling Stone does gather $
Honestly the only one who can make this decision is YOU. Ask yourself- How badly do I want to leave my current position? Knowing what I’ve seen and understand from real living red blooded human beings that work at BNY, am I prepared for chaos and unforgiving management just to get a temporary bump in salary? If I do not like it, am I prepared to quit and find a new position? How happy am I now? What would I do if I became less happy than I am now? ……. If you do choose to come here, yes, you will likely be safe for 1 or 2 years but are you prepared to put in nights, weekends and holidays and spend a lot of time on emails explaining? Poster @a6+1jmyp91vj has given you brotherly- sisterly advice.
Be happy with your life and choices.
Don't give this place your time or your money, unless there is NO other possible alternative.
Oh, forgot about vacation pay.
When you leave the company. they don't pay out unused vacation. You can carry over up to 5 days from current year to the next, but those 5 days must be used by 3/31 or they are forfeited.
If you have a nice emergency fund built up and could handle being laid off, then it might be worth taking the job just to boost your resume and salary record. You can always keep an eye out for another position even if you take this one.
Negatives to be aware of:
BNY uses a forced ranking system. My manager told me he was only allowed give three people 'exceeds expectations' this year, out of at least 200 people. Managers are told that between 5% and 10% of people must be ranked 'below expectations', which is then used to build lists for layoffs.
The 401(k) match has a vesting schedule (I forget how long you have to wait), and also, company contributions are not added to your account during the year. They are added as a lump sum in Jan/Feb the following year, as long as you don't leave the company before October 31st of the current year. If you leave in November/December, you lose that year's company match.
RTO (return to office) is a thing here. If you would have a cr-ppy commute, then assume you may have it five days a week.
If you are happy where you are & can pay your bills , I d pass on working here.
If you take this job, I’d continue to keep job hunting
All depends on where you're at in life.
If you take it, get at least a 2 year guarantee.