Thread regarding Bank of New York Mellon Corp. layoffs

It was a nightmare to manage, analysts in Manchester came in at 30k with a 3k bonus, for their first day of work, whilst good tenured staff with years of service were circa £25k. The Analysts tended to have socialise their earnings at the first opportunity to anyone listening so caused obvious frustration. In my experience, these analysts average tenure was circa 18 months before moving on, as I'm sure they expected bonuses equivalent to the wolf of wall street.

On homepage there is a picture of them building G_damn Lego cities!! What the actual F! Is this Kindergarten?!?!

Ah the beauty and innocence of an intern and analyst. Bursting to the brim with self confidence, blinded by the possibility of a bright and long career in banking. Not worn down by years of bad management, constant changes in management and leadership and the daily dullness of overly complicated boring manual processes. Let them shine bright and carry the burden of monotony to a new generation.

This years class of interns = BELOW EXPECTATIONS compared to last year.

—— false narrative and skew perceptions about the current overall corporate culture as being vibrant, dynamic and humming——

This place vibrates and hums like a dirty used s-ex toy. Here everyone gets it in the b-um. And the lies amd flights of fancy fanatasy! If Robin was a deli manager he would be closed down for selling bad baloney.

I've said it once and I'll say it again, using interns/analysts like this a PR stunt to make this dinosaur company look more relevant. OP's post says it better.

I don't think anyone WANTS to be in the vicinity of having a meal with senior leadership but it is still bad optics to have these new interns do it while the rest of us stay back and have to do real work with real consequences if we don't do it. Years ago, these analysts were going out to eat every day while the rest of us had to brown bag it because we just weren't getting paid the same.

Interns have a mix of grunt work and low risk work but work with a lot of client facing people, but they themselves aren't really client facing. Most of them usually end up in some soft oversight role in GCM (or whatever we're calling it these days) where they are getting paid big bucks to manage a project, but aren't doing any real work or showing any hard skills or industry knowledge. That is if they aren't gone within 2-3 years for greener pastures.

I am curious how long the average intern/rotational analyst stays because it is a really bad look for the company to invest so much in people that don't stay long while giving long tenured employees the shaft every year.

BNY was filmed in front of a live studio audience.

Not sure about this crop but in years past interns and fresh grad recruits often related to c suite executives and other senior long standing employees basically way to ensure the next generation had an easy path into the financial sector and put on path to career in executive management. At very least helped JR build the old resume and ease into the old 9 to 5. Meanwhile long suffering low level managers had to train JR on how to sit in a chair 8 hours a day and stop watching YouTube and bi--hing that you have to learn to use PowerPoint when Pressy is better or Excel does not work the same as Google worksheets or whatever. Then watch JR get to work on “fun” projects because no way can you ask these interns to do the boring ugh work to actually help your team get ahead…

Yeah a bunch of people who want to do what they want and not go by rules and expectations but hey lets pay them more than you whose been here and knows the work and lets give a bonus after a fee months and hey lets increase them to keep up with competition but we arent raising any other employees pay. Great job bny for sc--wing us as usual. Choke on your analysts, choke on AI and choke on India

Yep and they came in making quite a bit more money than people who have tenure, get bonuses even being new and i heard they are getting market raises

It’s the Goldman way to create a revolving door of talent