Anyone see RV’s latest LinkedIn post and the comment suggesting that what Robin Vince is building at BNY Mellon proves that the most enduring organizations treat their employees’ financial futures as seriously as their clients’?
That’s a strong statement but it doesn’t quite line up with reality.
In 2023, the company shifted its 401(k) match from a per-pay-period contribution to a single annual lump sum, paid the following year. In most cases, employees must still be employed on December 31 to receive it.
That change matters.
One of the core advantages of a 401(k) is compounding consistent contributions invested over time. Delaying the employer match reduces that compounding benefit, and tying it to year-end employment effectively places conditions on compensation that employees have already earned.
Policies like this send a different message than the one being promoted. If organizations want to position themselves as stewards of employees’ financial well-being, the structure and timing of benefits should align with that claim, not work against it.
5 replies (most recent on top)
It's optics for the Trump Accounts mandate. That's all.
@a8 Not to mention the low life senior directors and MDs whole sole purpose is to save their own backsides while plotting their employees' demise, never mind the endless sacrifices the employees made to support the very crook.
And you can’t forget about the increase of hours from 37.5 to 40 a week with no pay increase from a few years ago. I am volunteering 2.5 hours every week.
Did you forgot to mention the new (Oct2025) job advancement policies? You can apply for a higher level job but forget about an increase if you get it. You have to wait for the annual review process to have your manager jump through hoops in HOPES of getting the actual promotion title and wage. Mind you, you got the job and are doing the work of that higher level.
the most enduring organizations treat their employees’ financial futures as seriously as their clients
- No pension,
- No profit sharing,
- suspending 401K match misses 12 months market growth,
- High taxed, low payout Bonuses despite BNY corporate growth,
- Inferior and very low grade VOYA wealth management of 401K’s,
- VOYA funds are all repeats of many of the same stocks with very poor investment fund diversity,
- Highly expensive health insurance,
- Use of ALIGHT as a cheap and difficult service,
- NO RTO incentives except pre tax payment which always was here,
- No special employee for personal loans & financing discounts,
- EXTREMELY unstable work environment where taking out a mortgage or big loan is ill advised due to real fear of job loss,
- Bad place to be in when starting a family,
- No true flex or comp time anymore,
- Many so called ‘benefits’ are not available to the average employee - $6500 home purchase,
- Wages not keeping up with inflation & prices,
- RTO makes us poorer out of pocket,
- Insurance from company vendors and severance are now very difficult to obtain,
- Mental stress causes bad financial security in terms of health……..
The bottom line of truth:
Robin is as poisonous and as bad as his free coffee and the Mckinsians that brew it.
Seriously, you cannot have a long future here.