So many threads on here are from people complaining how much BNY has changed and how brutal the culture is now. It’s become very paranoid and impossible to think you have a long-career here, etc.
Are there any colleagues who joined BNY from other big banks who can give their perspectives ? Curious if this is just banking culture or is BNY uniquely different?
I went from BofA to BNY and just recently left BNY for a regional bank. BofA has its own problems but it beat BNY by a mile.
This is just my experience so take it for what you will. At BofA my managers were pretty active in helping me plan my career, get promotions, and always encouraging me to job shadow in other areas to broaden my opportunities. Benefits and time off were much better and if you needed something HR-wise the digital resources were actually helpful. There were plenty of antiquated systems but there were still people on staff who knew how they worked so if something broke it wasn't broken for long. The workload could be intense but I never "had" to do something on a weekend or after hours unless there was a true emergency.
Going from BofA to BNY was a rude awakening. Very little support from direct managers, I was trained by people who had just been recently trained themselves, no clear paths for mobility or promotion, and unhelpful HR and digital resources. The pay and benefits were also sub-par compared to BofA by a large margin. I worked at a BofA ops center in a small town too so it's not like I was getting NYC wages.
If you can get out, then get out and if you're thinking about joining BNY don't.
YOU cannot have a career here. Perhaps RV and his cronies, but NOT YOU!
I've been around the street my entire career.
As others mentioned, there is an industry-wide trend of anxiety about market stability and AI, and how those will impact your job, so that part is not unique to us.
BNY leadership, in my experience, does have a uniquely poor skill at messaging. That's all - I don't think they're evil or corrupt, they're just really, REALLY bad at management and communications, and are more tone deaf than other execs at similar shops.
What's unique to a very vocal plurality, if not majority, of BNY employees is the attitude. Many of my colleagues act indignant at everything management messages about RTO, P-M, etc. - this is just the nature of the industry, most of us need to realize we aren't in a unionized trade job.
All the major firms have been increasing the temperature in hopes of voluntary attrition. You will find similar tactics in any large shop. YMMV team by team
The MERGER of BNY and GS has been in the works for some time.. The workforce has to be trimmed and that is happening at a good pace.
The duplicate services are being eliminated. Pershing as an independent entity was a good line of business that could have been sold for a high profit - do not understand why they wanted to retain and merge that in
But the merger is not far away.
I think the form was fine until Gerald Hassel was around. To some extent Todd. RV superstar has done it all he could do to downsize and potentially will sell the firm.
All that drama about AI. Huh.
All d-mbs out there are giggling about stock price is raising etc. including some MDs. Brainless idio*s
It’s gone from the best to the worst place I have worked in my 3 years here. Period.
Don't get comfortable at BNY. Your job is never safe.
I've worked at Goldman Sachs, Barclays, Blackstone Group, Bank of America, and Citi prior to BNY Mellon. Most of those aforementioned banks were absolutely abhorrent for the most part, and so far BNY was my best finance gig. Citi was okay, kind of, but Goldman was a maniacal cult of sociopaths. However, things have been declining rapidly since 2024 or so, and I'm having my doubts. This is the particular bank job I've worked at the longest, and I'm not sure how much longer I'll be here sadly. I never thought I'd be nostalgic for the pandemic, but here we are.
180 degree shift in the past two years. Came here specific because it seemed a respite from the big bank nonsense, which is pretty universal. Now we’ve totally overcompensated. Some of it was definitely necessary as our infrastructure was pitiful. The fake/forced severance savings bs is the worst i’ve seen.
This is not other banking culture. This abnormal environment we have at BNY today started 3 years ago with the rise of Robin. Long career here? Not anymore.
I've worked at other financial institutions and BNY is by far the worst culture. Banking is always evolving anywhere you go but BNY is a madhouse with nut jobs. My resume is dusted off in this climate here.