So all new hires will start out at 46,800.00 per year starting March 1st. 22.50 per hour. Anyone making less than that will receive an increase to bring them to that amount. The people that have been here for years and barely make more than that get screwed again! This place is something else.
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That’s even better yet! What’s the issue here?
Dude, you’re getting a raise to 46,800.00 for Christmas. Now go ahead and make it into a bad thing.
You sound out of touch with salary ranges at BNYMellon. That starting salary listed is about $10,000 greater than the starting at my location for entry level staff accountant straight out of college before they eliminated all staff level jobs and moved them to India. So it sounds pretty likely to me that $46,800 might be starting salary if such a position existed.
Congratulations… you stand out here as exactly the positive role model that the bulk of those on this forum need to emulate. I hope that people will self examine after reading your positive and true message.
Another woke move that forces productive people to go without their just compensation to subsidize the unproductive.
“Everyone is getting a nice raise this Christmas “…. That’s about the most ridiculous thing I read. Most of us don’t get nice raises and have to wait until January to hear about 1-3%.
This thread says it all about poor attitude. Everybody is getting a nice raise this Christmas and what do our stateside employees whine about?
They whine about India workers making Pennies on the dollar!!!!!
This place just never fails to find a cloud in the silver lining. What happened to you people?
Customer service does not pay a lot. Why not better yourself by getting a degree? We have an excellent tuition reimbursement benefit.
From your post you are clerical operations, no college. Your pay progression actually appears to be very good for your job. My advice is to sign up for tuition reimbursement and work to get a B.S. in business. College isn’t for everyone. If that’s not you, there are very good jobs in retail. Even WalMart offers great career profession.
If you’re handy look into union jobs such as carpentry, plumbing, electrician, etc.
No matter what you decide to do, don’t waste your time complaining here… make a New Years resolution to better yourself. Thats just my advice but it’s always worked for me.
For reference, I started at BNYM in NYC in 2011 making 40,500 - grade was FF I think. It was my first job out of college. Rose through the ranks to get an I-grade job (AVP?) at 66K in 2015, VP at 80K (but with bonus, more like 87K) in 2019, and then K-level at 92K base + 15K bonus managing people in 2021. I hit Exceeded most years here.
I joined another bank last year as a VP making 150K without direct reports and a more stable work/life balance. There's plenty of younger people making more than me, but I was flabbergasted how underpaid I was at BNYM and wish I had jumped ship sooner.
Hard work is good and all, but if your environment isn't great, you're really not going to see the rewards that are commensurate to the effort you put in. BNYM is notorious for low pay, especially if you rise through the ranks from the bottom. Those that start off as AVPs might get better momentum, but their growth will slow down fast too.
Well, it started with participation trophies, every kid a winner and complacency due to no winners and losers.
Wow, I see your problem… crying about a raise with a massive sense of entitlement.
Seriously, recognize a win and work hard to impress your managers.
Every generation had to work their tails off to make more money. I remember making $2.15 per hour and getting home at two in the morning but you learn something from every job.
You have to either be born to wealth or work your tail off to survive.
This makes you exactly like every human being from the end of time. pay your dues and be thankful for the mass raises.
Don’t be bitter at the new guy or girl making 22.50 an hour, be bitter with the execs making way more! Read the annual report, see what we are paying the top 5.
I think the executive team should give up their bonuses and salary increases. Spread it out to the workers who keep the business running on a daily basis and help make them look good. The spread just keeps getting bigger and bigger.
46K pay is not all positions, this is the minimum pay. Just about every job listed has higher than 46K for pay. 46K is a far cry from what most likely is a living wage in many east coast places in US.
I am a millennial and when I worked in college I got paid $9 an hour to work at an eatery. I worked there, quit, and kept moving up. I left BNYM and making 200k+ now. Know your worth.
Worsr place I have ever worked
I know of nobody who rose through the ranks and built a career without a great attitude, a solid work ethic and a cheerful attitude towards work and colleagues. Look for a mentor, ask them how they toiled. Success doesn’t just happen.
You’ll find the answer in your skillset and work ethic.
How do people here not understand that pay is based upon education, skillset and after being hired, attitude and work ethic. Rather than being envious of others why not emulate their work ethic? I truly fear for this generation. Growing up in tough times was certainly a key to boomers. We certainly made mistakes by sheltering GenX, GenZ and millennials.
$46 K is a great start for a career. You’ll be able to move out of mom’s basement.
This is the strategy to ATTRACT new young (aka cheap) talent. Flush out the expensive experienced people and use the saving to fund a slew of new grads.
@wsp not all the jobs are NYC as there are offices all over the US. Or are you saying you are currently in NYC and are going to be on the losing end here like a lot of others (myself included)? If they are bumping up the pay 2.50 an hour, it should be done across the board. Not just for new hires and employees making less than the new minimum of 22.50 per hour. If an employee is making 26.00 they should be bumped up to 28.50 and so on.
I wish India teams sc--w up all the files and numbers on daily basis and BNY pays for the penalty from US government.
How does one work "years and years" for a major bank in NYC and only make 46k? I joined BNY in 2001 at 35k and it was customer svc at best. 46k is not a lot.
Which means now they’ll eliminate more US jobs and send them to India for $3.00 an hour while pushing the narrative we have increased our starting pay cause we care about our people.