I have been in BNY for over 10 years. I started as E (entry level) and climb the ladder until now. I am a G (senior position) and it seems that BNY implemented a rule for internals to only get 10% of increase if they get a higher position.
Every single position I got in BNY, I made sure to work my a-s off, work extra hours and weekends as need and always got 20% to 30% increase every single time.
Now, the HR recruiters will tell you "We find that 10% increase is really fair offer for you"
I thought that the issue was me or the positions I applied, but this last position I applied J ( VP position) I contacted the HR recruiter directly and asked if this was a rule now for internals, he confirmed the information follow by the "BS sentence they used"
22 replies (most recent on top)
employees often think other locations get more but the salary is mostly defined by global HR with local providers, who provide a market salary, which results in different life standards as taxation and social structure is different by country
global HR has no interest in changing this
US : higher bonus and low taxation results overall in high life standard, but level is key
India : low levels are at the bottom, managers levels result in steep increases, regularly gain more on the same level net as other wealthier regions (UK), moderate - higher levels are rich
UK : medium bonus and salary with higher taxation result in average life standard, difference between entry employees and managers is low / moderate increasing line
rest of Europe : similar to UK
the conditions are year by year different and also by location
there were promotions, even 2 levels up, without any increase at all as the salary band allowed it
there were promotions one level up with 30 % increases and more in the past
the last 2 years the maximum you can get in many locations is 7 - 10 % but all depends who you know, for everything exist exceptions and nepotism, the bonus system is even more crooked
HR does try to cap you when you are going from one role to another and its a pretty significant increase. I have always explained the role starts at $$$ and it brings the person in line and its always gotten approved. They try to pull that cap sh-t and thats too bad. If someone is moving up then they need to f off and and quit trying to sc--w people
⸻
After nearly 11 years at BNY, I made a big move—switching from the “H” to the “I” level—and received a 28% increase. I was thrilled, worked hard, consistently went above and beyond. Then, after two years in the Alternative Investments department, I was informed my position had been eliminated.
At first, I believed it was just about my role, but within a month, I saw the same thing happen to several colleagues. It felt like a strategic way to quietly phase people out without room for pushback.
I used to think Pershing/BNY was a great company to grow with. But now, if someone asks my opinion, I’d say it’s no longer a place to build a long-term future.
the ladder ends in india for non-execs. this is not the firm to choose a rat race
I’ve had several 30% bonuses, but it’s not easy.
Here’s my rule … quit while u can
Children….
Participation trophies ruined your work ethic and your helicopter moms who meant well ruined your ability to compete.
You are now adults, but adults without a work ethic. And also poorly educated . Your only hope is to network with boomers.
Get on it, we don’t bite. You’ve had a very poor educational experience but find a boomer and pick their brains.
I truly feel bad for Robin Vince, for inheriting. A toxic work environment.
This topic seems to be all recently hired clerical OPs employees.
Suggest that you look into the Bank’s Tuition reimbursement programs.
Good luck to you. Take advantage of all opportunities.
E-G is a very low entry level. Assume that you came in at a clerical level and worked hard. Encourage you to at least work on a two year business degree.
There are educational reimbursement programs at the Bank. I encourage you to take advantage of them.
@av unfortunately, facts may sound negative because they are.... doesnt mean that there is a toxic behavior here
@ak they’ve done away with the “bands” or “ranges”. It’s now all manager/director discretion per HR
@ae it was not easy. They had to involve a bunch of people that thank god knew me personally.
I went from 55k to 70k.
It was before Covid.
Do you mean 3% and not 30? How can you get 30% increase but only be at G level.
@aj I made a mistake.
I am an I (Senior position)
@ae I have heard of 30% increases. His name is Robin Vince. OP, are you in ops? Anything under Alejandro is jacked up. Movement only once per year, and you can only move one grade up. The only way of improving yourself is to leave the bank.
You are just so wrong. Your toxic attitude is ki-ling both you and your career.
They will always give an internal mover either 10% max or put them at the bottom of the band they are moving to, which ever is the highest. At least that's what happened to me twice, although both were ore the cutting regime. Anything else is untrue.
Every single time? E-G is only 2 increases and it could have easily correlated with increased minimum bank-wide pay, making it seem like larger increases.
Unless things have changed since late 2024, they typically only allow you to skip one level for internal moves. Meaning if you are a G now you can only go to an I. And yes internal moves are always the lowest pay that they can get away with.
Climbing the ladder…..
Really? Here?
This is like saying going to the bathroom counts as body building exercise.
Puhleeeze!
I never heard of anyone getting a 30% increase-ever.