Bank of America

www.bankofamerica.com

Bank of America Reviews in Charlotte, NC

Updated January 25, 2015
Updated January 25, 2015
7,423 Reviews
3.3
7,423 Reviews
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
3,172 Ratings

Review Highlights

Pros
  • Excellent work life balance including remote work from home for certain positions (in 417 reviews)

  • They have a program called MyWork which allows you to work from home or from any location (in 223 reviews)


Cons
  • Work/life balance was a little tough but you are going to get that anywhere to be honest (in 180 reviews)

  • upper management failed to listen to the lower ranks often missing oppertuinitys (in 184 reviews)

More Highlights

321 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    Large Organization, With Typical Large Organization Problems

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Project Manager in Charlotte, NC
    Current Employee - Project Manager in Charlotte, NC

    I have been working at Bank of America full-time (more than 5 years)

    Pros

    Lots of opportunity to move within the bank to different functions, somewhat employee-focused management (in my experience), opportunity to work with robust resources, flexible work arrangements, pretty competitive compensation.

    Cons

    It's been a difficult environment with 5 years of poor bank performance. If you aren't in a revenue generating role, layoffs occur sporadically. Lots of red tape and bureaucracy, and politics.

    Advice to ManagementAdvice

    Empower people in lower positions to make decisions in order to add agility when responding to issues.

    Recommends
    Neutral Outlook
  2.  

    Great company to grow your career

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Manager in Charlotte, NC
    Current Employee - Business Manager in Charlotte, NC

    I have been working at Bank of America

    Pros

    Excellent benefits...401K match, pre-paid legal services, discounts on banking services and products! Also, there are endless career opportunities for those that are willing to network and go for them. You have to be an excellent performer and the right people have to know you in order to get ahead.

    Cons

    The bank is scaling down on their work at home opportunities, so many people are being brought back into the office. This has been a killjoy for morale. There are also constant layoffs, and many people are let go only to be brought back as contractors. That's also a downer for morale as well.

    Advice to ManagementAdvice

    I would like to see management helping associates make the right connections in order to get them where they would like to go next in their careers.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  3.  

    Great job mobility.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Process Design Consultant in Charlotte, NC
    Current Employee - Process Design Consultant in Charlotte, NC

    I have been working at Bank of America

    Pros

    They foster creative ideas and transformational thinking.

    Cons

    Not enough resouces to execute the work.

    Recommends
    Neutral Outlook
    No opinion of CEO
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  5.  

    Good benefits, can be a great place to work - if you find the right group

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Assistant Vice President - Project Manager in Charlotte, NC
    Current Employee - Assistant Vice President - Project Manager in Charlotte, NC

    I have been working at Bank of America full-time (more than 5 years)

    Pros

    Benefits are solid. Flexibility in moving around to find work that interests you and fits with you. Its a big company so lots of room to explore.

    Cons

    Finding a good team can be tough and once you switch jobs you have to stay in it for a year, which can suck if its not a good fit (although I understand why they do this).

    Lots of bureaucracy. Lots of regulation. Very corporate. I've never felt FULLY engaged at work. But I've also grown to accept thats probably not going to be the case for me at this company.

    Advice to ManagementAdvice

    I've seen a lot of improvement in pushing to make things simpler and easier on the employees. Continue to listen to your people as you've been doing.

    Recommends
    Positive Outlook
    No opinion of CEO
  6.  

    Needs to get its swagger back

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Architect in Charlotte, NC
    Current Employee - Architect in Charlotte, NC

    I have been working at Bank of America full-time (more than 5 years)

    Pros

    Work from home (while it lasted), decent benefits.

    Cons

    Constant lawsuits and bad press make one not want to admit to working there.

    Advice to ManagementAdvice

    Make employees proud to work there again!

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  7.  

    Long hours but flexibiliity

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Analyst in Charlotte, NC
    Current Employee - Business Analyst in Charlotte, NC

    I have been working at Bank of America

    Pros

    Company benefits, flexibility, people, location, can move to other teams within the company

    Cons

    Worked too many hours, team members located all over the country and over seas

    Advice to ManagementAdvice

    Use US based vendors only

    Recommends
    Positive Outlook
    No opinion of CEO
  8.  

    Good Company, Good People, Okay Future

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Supply Chain Associate in Charlotte, NC
    Current Employee - Supply Chain Associate in Charlotte, NC

    I have been working at Bank of America full-time

    Pros

    Benefits, Time off, visibility to executives. Great employees. A very accepting culture. Good collaboration. Not overly political, which is good for a bank.

    Cons

    Everything needs approval, from multiple people (different from getting consensus)

    Advice to ManagementAdvice

    You need to have better ways to differentiate performers at the lower levels.

    Recommends
    Neutral Outlook
    Approves of CEO
  9.  

    Lousy compensation, to many hours worked, always waiting for the next layoff.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President - Project Manager in Charlotte, NC
    Current Employee - Vice President - Project Manager in Charlotte, NC

    I have been working at Bank of America full-time

    Pros

    None any longer. The have taken away the home office now. Cost of benefits has risen. They were never that good anyway.

    Cons

    Since 2010 when Brian Moynihan became CEO of Bank of America, all he has done is try to cost cut his way to greatness. There have been no less that 8 lay offs since he took control. Bank of America employees get laid off and others have to pick up their workload. More and more people go, no or little new blood is infused. At lease down in the trenches that is. So here we are in 2015 and we are being told that the raises and the bonus, you know, for the "little people" making less than $150K a year, will be miniscule this year. This after the credit card division spent 3 years preparing for a conversion from an in-house mainframe to TSYS. Working countless hours, nights, weekends, for a conversion that will happen in early Feb. 2015.

    So, let's look at Mr. Moynihan's compensation for this period.

    $ .95 million salary and 10 million Bonus for 2010
    $ 1.5 million salary and 12.5 million Bonus for 2014

    The BAC share price was $15.24 the day you became CEO. What did it open at today after you announced the 2014 4th Qtr earnings? $15.60. Way to go Brian.

    Advice to ManagementAdvice

    I know this is contrary to the thin king in corporate America today but you employees are your best asset. You should take care of them. Not keep stepping on their necks.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Can be difficult

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vendor Manager in Charlotte, NC
    Current Employee - Vendor Manager in Charlotte, NC

    I have been working at Bank of America full-time (more than 10 years)

    Pros

    The wide footprint can provide opportunity if you either live near one of their hub cities or are willing to move.

    Cons

    Difficult to maneuver through the maze of such an enormous company. Much information gets lost when dealing with so many. The layers of people and overlapping structures can impede progress, in spite of the efforts made by Sr. Mgmt to remove obstacles and empower employees.

    Advice to ManagementAdvice

    Understanding that restructuring to remain nimble is often necessary, care needs to be taken to ensure that the leadership understands the area to which they are being assigned. Equally important is the need to eliminate restaffing the mgmt. team with their friends/former associates when those individuals also do not understand the particular line of business. The well intended "fresh approach", in reality, becomes a group of leaders who do not understand what the heck is going on. Motivation drops. You often end up with one ill-equipped leader dealing with another ill-equipped leader, and so on...

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11.  

    BofA Review

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Performance Analyst in Charlotte, NC
    Current Employee - Performance Analyst in Charlotte, NC

    I have been working at Bank of America full-time (more than 3 years)

    Pros

    Lots of opportunity for growth and fairly easy to make lateral job movements.

    Cons

    Hard to move up to higher positions and get higher pay.

    Recommends
    Neutral Outlook
    Approves of CEO

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