Bank of America Reviews

Updated July 25, 2015
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
33 Ratings

Pros
  • Flexibility - work from home program; Work Life Balance; (in 417 reviews)

  • Flexibility to work from home when needed (in 223 reviews)

Cons
  • Work/Life balance is biased towards work (in 180 reviews)

  • no work-life balance only upper management (in 184 reviews)

More Pros and Cons

82 Employee Reviews

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  1. I dont know

    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY

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

    Pros

    They will hire you probably

    Cons

    They might not hire you

    Advice to Management

    Give me more money please


  2. Poor management and too much red tape

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President - Corporate Treasury in New York, NY
    Current Employee - Assistant Vice President - Corporate Treasury in New York, NY

    I have been working at Bank of America full-time (More than 8 years)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    A lot of mobility possibilities but they will never pay market value.

    Cons

    Terrible pay, poor middle management, poor infrastructure and technology, the past mergers of the firm have divided the employees and management. All parts of the bank are becoming Charlotte centered aside from the sales and trading.

    Advice to Management

    Invest in your people and technology. Invest in hiring the right managers and invest in training. Stop adding layers of management that seemingly do nothing like New Chief Administrative Officer role just created.


  3. They don't care about their tellers

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Self Employed in New York, NY
    Current Employee - Self Employed in New York, NY

    I have been working at Bank of America part-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Great hands on experience. You learn to see the communities you work in different, and share a deeper appreciation for the small businesses. Great if you're a business or finance student. Fast paced industry so you learn to be quick and precise, especially handling money. Paid holidays! Discount program, cheap healthcare as well as a flexible spending account for co pay.

    Cons

    You are NOT appreciated. You are used and forced to sell "products" (credit cards, loans, etc) to people who would do better without. You don't get bonuses, only personal bankers and higher ups do. You have to be fake and regular clients are on to you and they get annoyed after a while. Some people stay with the company for years since they don't have anything else going for them, causing them to do their job poorly.

    Advice to Management

    Offer bonuses to your tellers! Not some unrealistic incentive, either. Create realistic goals! Or how about you stop trying to make tellers harass the customers you "love" so much and come up with a genuine interactions marketing strategy. People don't need debt, stop forcing it!


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  5. Slow Moving

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Software Engineer in New York, NY
    Former Contractor - Software Engineer in New York, NY

    I worked at Bank of America as a contractor

    Doesn't Recommend
    Doesn't Recommend

    Pros

    The pay is very good

    Cons

    The company is slow moving. It takes weeks to complete the onboarding process. Contractors don't receive access to everything needed to complete the job. You have to sit in a thousand and one meetings.

    Advice to Management

    Provide developers with local admin privileges to their computers. Streamline the onboarding process.


  6. BofA

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in New York, NY
    Current Employee - Vice President in New York, NY

    I have been working at Bank of America

    Doesn't Recommend
    No opinion of CEO
    Doesn't Recommend
    No opinion of CEO

    Pros

    OBP is a convenient location. Company is philanthropic - lots of employee volunteerism.

    Cons

    Very political. New York vs Charlotte = toxic culture. HR controls the company. While company promotes internal moves or employee growth, they do not give you the tools to do so. Management makes false promises.

    Advice to Management

    There is a reason why your Employee Satisfaction ratings are so low. Survey should be renamed "Employee Dissatisfaction." Please take the feedback from the surveys seriously.


  7. Stay away if you're smart and young

    Former Employee - Vice President in New York, NY
    Former Employee - Vice President in New York, NY

    I worked at Bank of America (More than 8 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Decent pay, learned a lot for former Merrill team

    Cons

    Management, lack of leadership, no growth for young talent

    Advice to Management

    Get out of your own way and sell Merrill Lynch back


  8. Despite best efforts bureaucracy wins

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Vice President in New York, NY
    Current Employee - Senior Vice President in New York, NY

    I have been working at Bank of America

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    Pros

    B of As high level business strategy is simple and sound.

    Cons

    B of As true potential will never be realized because of a lack of leadership and courage.

    Advice to Management

    Become courageous. Don't let the bureaucracy win.


  9. Assistant Manager

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Banking Center Manager in New York, NY
    Current Employee - Assistant Banking Center Manager in New York, NY

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Great Benefits Advancement of career possible

    Cons

    Bad compensation plan Awful reporting structure Positions are often cut/changed without notice Politics game

    Advice to Management

    Listen to your employees. The upcoming associate survey will be terrible. Compensation plan changed yearly in order to not allow you to succeed. Squeezing every lenny out of you, seen as a commodity not a person


  10. Not a good experience

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Software Developer in New York, NY
    Current Employee - Software Developer in New York, NY

    I have been working at Bank of America

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Nothing as of now. because they are more inclined towards declining people.

    Cons

    No idea how they are interviewing. They should know how to interview people instead of stupid politics

    Advice to Management

    Get better recruitment process. The process is all random. They will just select people with experience with all stupid questions.


  11. Satisfactory company to work for

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Vice President in New York, NY
    Former Employee - Assistant Vice President in New York, NY

    I worked at Bank of America

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    Process is defined and followed

    Cons

    Work Life balance is difficult to maintain

    Advice to Management

    Too much focus on process hampers smooth flow of work



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