Bank of America
3.2 of 5 5,437 reviews
www.bankofamerica.com Charlotte, NC 5000+ Employees

Bank of America Reviews in New York, NY

Updated Apr 17, 2014
All Employees Current Employees Only

3.1 295 reviews

                             

71% Approve of the CEO

Bank of America President & CEO Brian T. Moynihan

Brian T. Moynihan

(107 ratings)

59% of employees recommend this company to a friend
85 Employee Reviews Back to all reviews
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People are really invested in your well being

Summer Analyst (Current Employee)
New York, NY

I have been working at Bank of America as an intern for less than a year

ProsEveryone at the firm was friendly

ConsTheir reputation is not the best.

Advice to Senior ManagementContinue to cultivate relationships with the interns

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Flexible Management

Applications Development Manager (Former Employee)
New York, NY

I worked at Bank of America as a contractor for more than 3 years

ProsThe department where I worked had a very flexible management. Management gave technical team freedom to choose the right solutions and methodologies. It resulted in some cool applications.

ConsSalaries are less attractive that other financial services firm on the New York area. Bonuses are less attractive too.

Advice to Senior ManagementKeep the open culture intact.

Yes, I would recommend this company to a friend

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A steady ship through turbulent waters

Vice President (Current Employee)
New York, NY

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

ProsVery proactive senior management - they take active steps to manage risk pro-actively (not merely hedging but actively taking risk as well)
Very good feedback loop - feedback works on 360 (steps are taken by senior management to address issues on which adverse feedback has been received from juniors)
Fair compensation - at par with peers and good visibility vs performance

ConsSupport functions are excessively bureaucratic.
Can be slow to venture into new areas / sieze new opportunities.
Still in the process of 'right sizing' - that means managing VaR, capital ratios and headcount.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Drinking the cool aid, you love it and hate it

Associate (Former Employee)
New York, NY

I worked at Bank of America full-time for more than 3 years

ProsGreat benefits package and other perks

ConsHuge corporation, feeling like a number, drinking the cool aid

Advice to Senior ManagementTo give people more freedom to be creative and entrepreneurial. Additoinally, if you want people to work hard and give you their best, you should make them feel as if they are heard and have a say in important decisions. Too often at Merril and I am sure the other bulge bracket firms, the non management mentally checks out and wipes themself of responsibility when it comes to many important business decisions that need to be made and could use the fresh minds, but do not because it is a given that management is making all decisions and dont take or want anyone elses opinion,.

Yes, I would recommend this company to a friend

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Bac

Vice President (Current Employee)
New York, NY

I have been working at Bank of America full-time for more than 8 years

ProsGreat learning platform, great people to help.

ConsNot the best total comp among top banks

Advice to Senior ManagementReward the talent

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Good work life balance.

Client Associate (Current Employee)
New York, NY

I have been working at Bank of America full-time for less than a year

ProsGood work life balance and friendly coworkers.

ConsTraining programs could be a little more structured and organized.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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2 people found this helpful  

learn the brokerage business

Registered Client Associate (Former Employee)
New York, NY

I worked at Bank of America full-time for more than 3 years

Prosthe technology is great to understand the financial markets. ml/boa will sponsor your series7/66. you can enter the FA program if you do well and can convince mgt that you are capable of bringing in business.

Consnot a whole lot. you must choose to work with FA's who will help you understand the business and explain the business to you. if you don't pick their brains the job isn't worth doing.

Advice to Senior Managementregistered client associates aren't explained how to deal with the different personalities of the FA's they work for. more one on one training is needed to optimize ca performance.

Yes, I would recommend this company to a friend

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  • Disapproves of CEO

 

Good opportunities in a tough market

Financial Advisor (Former Employee)
New York, NY

I worked at Bank of America full-time for more than 3 years

ProsYou are surrounded by smart people, good managers, within a diverse, tolerant culture

ConsThe bureaucracy of a big bank never ends. There are constant compliance requirements and cross-selling "suggestions" so as to integrate the ML folks into the bank culture.

Advice to Senior ManagementLet Merrill Lynch employees have more autonomy. Stop shoving cross-selling down everyone's throats.

Yes, I would recommend this company to a friend

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If you like a relatively stress-free corporate job, you can easily find one at BoAML

Analyst (Current Employee)
New York, NY

I have been working at Bank of America full-time for more than a year

ProsGood compensation and the hours are typically 8:30-5:30.

ConsCulture is dry and boring. Things move slowly.

Advice to Senior ManagementInvest in employees. Give them more opportunity to advance.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Managers are keen on professional growth, but company does not have a clear direction on where to go

Analyst (Current Employee)
New York, NY

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

Pros-Managers care about your professional growth
-You are constantly challenged with new assignments which help you understand the bigger picture of the business

Cons-Hours can be long at times, but this has become the norm in the industry so should be expected

Advice to Senior ManagementWhile building capital reserves is currently the top priority for the bank, management should really start thinking about how to proactively understand (and predict) the needs of clients and act accordingly.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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