To improve the ductility of bulk metallic glasses (BMGs), external mechanical stimulations can be applied. Thereby, cyclically loading the samples at stress levels below the macroscopic elastic limit leads to permanent structural changes, which can alter the plasticity in bulk metallic glasses. Here, the effect of systematic variations of Pd<sub>43</sub>Cu<sub>27</sub>Ni<sub>10</sub>P<sub>20</sub> BMG’s structural state, achieved through cyclically loading the material to 70, 80, and 90% of the yield strength, on a range of mechanical properties like modulus, hardness, yield strength, strain rate sensitivity, and activation volume is studied. It is observed that, from the raw amorphous sample to the 80% yield stress loaded sample, the above-mentioned mechanical properties improve (i.e., increase) only to decrease again for the 90% yield strength loaded sample. This effect might be because cycling at 90% macroscopic yield strength may cause local microscopic yielding events insufficient to form a shear band but enough to weaken the material.