Whether you are freshly graduated from college or you are looking for a career change, BNY Mellon can be a great option as an employer for those who want all the benefits of working at a large banking company.
With years of established success as an organization, BNY Mellon is a place many folks are proud to call their long-term employer.
If you’re debating whether you should apply or take a job offer from this company, our list of pros and cons below may help you narrow down your choice.
Table of Contents
- Pros of Working for BNY Mellon
- 1. BNY Mellon has locations across the United States and beyond
- 2. BNY Mellon has a range of different roles available
- 3. This company offers plenty of room for growth
- 4. They have programs and opportunities for students and professionals in the field
- 5. Undergraduate students can participate in short-term pre-internship programs
- 6. BNY Mellon is openly committed to diverse employment practices
- 7. BNY Mellon offers clearly defined paths to advancement for serious career professionals
- 8. Some roles have work-from-home flexibility
- Cons of Working for BNY Mellon
- 1. The healthcare benefits are not top-notch for some employees’ needs
- 2. The starting pay can be below the market rate
- 3. Some roles such as data entry can be repetitive
- 4. Some employees report low innovation and outdated technology
- 5. Some teams are a better fit than others at BNY Mellon
- 6. Some locations at BNY Mellon are slower than others
- 7. Some roles at BNY Mellon are sedentary
- 8. Frequent lay-offs
- 16 Pros and Cons of Working for BNY Mellon – Summary Table
Pros of Working for BNY Mellon
1. BNY Mellon has locations across the United States and beyond
From Pittsburgh, PA to Dallas, TX to Paris, France, those who plan on relocating at some point will have plenty of options for offices as a BNY Mellon employee.
Depending on your preferred state and country, you may find that certain areas have more openings than others.
A major city like New York or Paris may need more employees than a small local bank branch located in a smaller town.
Still, if you know that your partner may need to move for work at some point in your life or that you would like to travel the country or the world, BNY Mellon might offer the flexibility in the location of your workplace that you need to take that leap.
2. BNY Mellon has a range of different roles available
While a smaller company might only have a few different types of professional “hats” to wear, BNY Mellon hires a range of professionals.
From customer service representatives to data entry professionals to bankers and beyond, this company makes it easy to transition from one profession to another within the same organization.
If you expect to make a career change, BNY Mellon might be able to support that within their company.
3. This company offers plenty of room for growth
If you need an employer that will support your professional development, BNY Mellon can be an ideal option.
After all, they hire from within.
They also offer employees who are interested in advancing a clear path to advancement.
You won’t have to guess what promotion or climbing the corporate ladder looks like with their structured advancement.
4. They have programs and opportunities for students and professionals in the field
If you are still going through undergraduate studies, then BNY Mellon’s opportunities for students can be the perfect way to gain experience before graduation day.
As a career professional in banking, their professional opportunities will be appealing to those with more experience.
No matter the stage of your career, you can find opportunities that match your experience at BNY Mellon.
5. Undergraduate students can participate in short-term pre-internship programs
At BNY Mellon, the pre-internship programming such as their three-part Freshman JumpStart series and their one-day Sophomore Summit conference can give students who want to explore their interest in a potential career in finance without too much of a time commitment a happy medium between a complete internship and simply speaking with a recruiter.
6. BNY Mellon is openly committed to diverse employment practices
For those who want to work in an environment that actively attempts to achieve equity in their employment practices, BNY Mellon can feel like a supportive work environment.
On top of their public commitment to avoiding discrimination, they also practice affirmative action hiring and seek to hire underrepresented racial and ethnic groups, females, individuals with disabilities, and protected veterans, according to their company website.
7. BNY Mellon offers clearly defined paths to advancement for serious career professionals
For many professionals, advancing in a company can be an unclear and even confusing process.
If you want to have a long career with the same organization, the clearly defined paths that BNY Mellon offers their employees can be a source of security and excitement.
When you know what is coming next in your career, you can focus on succeeding and reaching your fullest potential.
8. Some roles have work-from-home flexibility
If working remotely is important to you, the work-from-home roles that BNY Mellon offers at times can be ideal.
For some folks, working in an office setting or with people helps them produce their best work.
For others, remote work makes it easier for them to concentrate on giving their best efforts at work every day.
No matter what your preference is, this company might be able to work with you to strike a decent work-life balance with remote or hybrid opportunities.
Cons of Working for BNY Mellon
1. The healthcare benefits are not top-notch for some employees’ needs
On Indeed.com, some employees have shared that the healthcare benefits at this employer were not great.
While this is subjective, it is helpful to consider.
If you have high healthcare costs or you know that you will need a certain level of healthcare coverage, it may help to ask about insurance as you are going through the hiring process.
2. The starting pay can be below the market rate
While many employees consider the pay raises and other financial incentives to make up for this, the starting rate at BNY Mellon can be lower than the average for the industry.
Depending on your cost of living, it might not be enough to support your preferred lifestyle.
It can also be stressful to rely on raises to compensate for the relatively low starting pay.
3. Some roles such as data entry can be repetitive
While some jobs are naturally repetitive, it can be worthwhile to consider whether you can stand a repetitive job before agreeing to the role.
Asking what a day in a role looks like on average can make it easier to see whether your prospective role will give you the kind of variety and stimulation you need to stay motivated.
4. Some employees report low innovation and outdated technology
In a fast-paced world that is constantly changing from a tech perspective, companies need to keep up with the times and evolve.
For some employees, BNY Mellon does not seem to be able to keep up with the rapid changes that are occurring in our technological landscape.
While this might be a perk for those who are more comfortable with older technology, new graduates and those who value technological advancement in a company may feel stunted and stifled with this kind of company culture.
5. Some teams are a better fit than others at BNY Mellon
For many BNY Mellon employees, the coworkers that surround them can make or break their experience.
While many BNY Mellon employees report high satisfaction with the quality of the teammates that make up their coworkers, others say that their team lacks the level of experience and teamwork they need to succeed, according to reviews on Indeed.
Since there is no way of knowing whether you and your colleagues will do well together until you start working at a company, it can be tricky to make decisions based on this con.
Still, it’s worth considering whether you and the potential coworkers you meet may be a good fit based on your experiences in the hiring process or asking questions during the interview stage about the potential for moving departments if you are not a good fit for your current one.
6. Some locations at BNY Mellon are slower than others
If a fast-paced work environment is where you would thrive, then some of the locations of BNY Mellon are not going to be a good fit for you.
During the interview, it can be helpful to ask about the average pace and volume of work.
Depending on your role, you might find that certain times of year are unbearably slow while others are intensely busy at this company.
7. Some roles at BNY Mellon are sedentary
If you want a workplace that gets you up and moving every hour of your shift, BNY Mellon might not be the best choice for you.
Since many of their job openings take place in professional office settings, you can expect to spend a lot of time sitting at a desk in front of a computer.
If this sounds like an entirely unfulfilling or unhealthy way to spend your time, you might want to seek out a company with more active roles that will keep you on your toes–literally.
8. Frequent lay-offs
While this might not be an issue at all locations, some locations at BNY Mellon report frequent lay-offs and terminations.
This can be stressful for employees who want long-term security.
If financial security and job security matter to you, check to make sure that this is not a problem at your preferred location before proceeding to apply.
16 Pros and Cons of Working for BNY Mellon – Summary Table
|Pros of Working for BNY Mellon||Cons of Working for BNY Mellon|
|1. BNY Mellon has locations across the United States and beyond||1. The healthcare benefits are not top-notch for some employees’ needs|
|2. BNY Mellon has a range of different roles available||2. The starting pay can be below the market rate|
|3. This company offers plenty of room for growth||3. Some roles such as data entry can be repetitive|
|4. They have programs and opportunities for students and professionals in the field||4. Some employees report low innovation and outdated technology|
|5. Undergraduate students can participate in short-term pre-internship programs||5. Some teams are a better fit than others at BNY Mellon|
|6. BNY Mellon is openly committed to diverse employment practices||6. Some locations at BNY Mellon are slower than others|
|7. BNY Mellon offers clearly defined paths to advancement for serious career professionals||7. Some roles at BNY Mellon are sedentary|
|8. Some roles have work-from-home flexibility||8. Frequent lay-offs|
Should You Work for BNY Mellon?
Although your employer is a personal decision, you should work for BNY Mellon if values like diversity and clearly delineated paths to promotion matter to you.
If you are working in banking, data entry, or customer service, it could be a good company to choose.
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