20 Reviews
Pay is okay if you're a senior or later in your career typically. The Bank is extremely inflexible with pay though, because compensation is a range of +/-5-10% of the median based on some salary survey data HR purchases. The survey is typically off though, especially for technical roles, so salaries are pushed down significantly when roles aren't well defined by their titles. WLB is great, lots of PTO for senior leaders. Still has a pension, but only vests after 5 years. Generally people are very kind and stress levels are typically low.
Senior bank leadership varies wildly in quality. The President and First Vice President are pretty far removed from actual operations. Any interaction with staff is treated like a PR exercise. Newer leadership tends to be better when coming from the private sector. The Bank is driven by two things. Critical needs for achieving its main objectives and internal politics. Very few things are critical needs, so almost everything is driven by internal politics. New grads, with the exception of Economics majors targeting the Research group, should avoid the bank. Very few options for career advancement. Comp is dramatically below market and career advantage is non-existent. Comp is all cash basically and mediocre at best. Expect a max 10% annual bonus. Obviously no stock etc. Standard annual raises are around ~5%. If promoted, you may see ~8%. 401k match is 6% +1% free, so effective 7%. Pension value is pretty low unless you work there for an extended duration (20+ years). Vesting period for 401k and pension are 5 years. Relocation and signing bonus are 2 years. WFH is minimum 2 days per week in office. Zero flexibility there. Lost many stuff due to poor WFH setup. Cafeteria food is about the same price as other food in FiDi and not good. Enormous restrictions on trading and investments for most staff. Default Analyst salary starts at $80k. Associate is $100k.
The two newly identified omicron subvariants, dubbed BQ.1 and BQ.1.1, are spreading fast in the New York region and could account for up to 37% of new cases,...
A selloff in U.S. government bonds resumed on Wednesday, pushing the benchmark 10-year Treasury yield to its highest level since mid-2008, as investors largely shrugged off a weak housing report and expected the Federal Reserve to remain aggressive in tightening rates. U.S. 10-year yields rose to 4.…