Bank of America
3.2 of 5 5,441 reviews
www.bankofamerica.com Charlotte, NC 5000+ Employees

Bank of America Reviews in New York, NY

Updated Apr 20, 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
57 Employee Reviews Back to all reviews
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  • Disapproves of CEO

 

Bad pay in trading, senior management seems to treat people like commodities

Quantitative Analyst (Current Employee)
New York, NY

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

ProsGood work-life balance. If you like volunteering, you can do that as well. They are very much into volunteering for sure.

ConsPay is really bad in trading group, no matter what they might promise you at hiring time. That was certainly the case for me, and everybody else I spoke to.

Advice to Senior ManagementRead peopleware. You seem to not even have a shred of idea about how to manage people, and keep them happy. You seem to treat them like cost, not assets. That makes you much bigger cost.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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  • Culture & Values
         
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Great people but no so great policies

Analyst (Current Employee)
New York, NY

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

Proswork environment is nice, coworkers are great, the benefit is not bad. The immediate managers are trying their best to accommodate the associate's needs.

Conslittle career guidances, very unsatisfied time off policies, we need to know what time we need off for the entire year at the beginning of the year.

Advice to Senior Managementconsider equal opportunities for all associate across the board

Yes, I would recommend this company to a friend

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  • Culture & Values
         
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  • Approves of CEO

 

Mortgage Loan Officer

Senior Mortgage Loan Officer (Former Employee)
New York, NY

I worked at Bank of America full-time for less than a year

ProsAlmost no management supervision, left completely on your own, except for useless weekly sales meetings

ConsManagement is only concerned with management and their own upward mobility. They talk a great game about how concerned they are but it is 100% hot air!

Advice to Senior ManagementRealize that without your employees you will be out of business.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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  • Culture & Values
         
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Technology VP

Vice President (Current Employee)
New York, NY

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

ProsLocation flexibility, on time pay check,

ConsManagement is buried with organizational issues and that greatly impact on individual
Promotion is not merit basis. If you are not part of the circle, you end up doing what you doing for the rest of life

Advice to Senior ManagementIdentify and encourage in house true talent.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Not good, not bad.

Teller (Former Employee)
New York, NY

I worked at Bank of America part-time for less than a year

ProsPays better than the other banks.
You can benefit from bank products with a better rate.
After a certain time they might help you with your tuition payments.

ConsComputer systems are very old and always freeze.
Never have enough tellers, that's why there is always a line.
Managers are untrustworthy, they always lie to employees and customers.
Health benefit plans suck, especially if you are a part-time employee, you cannot even afford it with your little income.

Advice to Senior ManagementTry to be honest.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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  • Disapproves of CEO

 

Stagnating because resources are not utilized to maximum efficiency

Analyst (Current Employee)
New York, NY

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

ProsGood company benefits such as insurance and corporate discount.
Brand name that is well recognized on street.

ConsOutsourcing has caused confusion and decreased quality of work in that you spend a lot of time looking for some one who can help you complete a certain task.
There seems to be a lack of interest in developing individual careers. There is not much recognition and distinction between an outstanding and mediocre performance. There is not a lot of mobility or room for promotion.

Advice to Senior ManagementInvest time and money in the employees to properly asses individuals. Do not rely solely on managers for input on quality of work as a lot have no interest in furthering the course of the company and their subordinates development as their agenda may not be consistent with the best interest of the company and its client. Identify talent within and provide opportunities that inspire individuals to perform better. Currently the message is management is not interested in quality nor fully understanding the nature of the work as it relates to the entire process from front to back end.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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  • Culture & Values
         
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Rigid Traditional Environment

Technology Analyst (Former Employee)
New York, NY

I worked at Bank of America full-time for less than a year

ProsLayback. Nice conservative and well-meaningful people.

ConsLike many big corp, its all about reduction. People with innovative views can never work here, because the company is run by an old "thats just the way it is" mentality. Everyone is very rigid.

Advice to Senior ManagementPush innovation. Promote transparency, but thats never going to happen.

No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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Retail Culture in Investment Bank

Director (Current Employee)
New York, NY

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

ProsModerate salaries and bonuses with secure employment so this is the best place for employees who are not aggressive about career advancement or pay hikes.

ConsA laid back attitude that comes from the Retail culture which is uncommon in an Investment Bank. In this economy, Bank of America employs 100 employees for the job of 50. So, there is obviously too much politics to deal with in this organization which creates an unprofessional enviornment to work.

Advice to Senior ManagementIf you are happy with a steady pay check though not competitive or in par with the rest of the market and a slow work environment then this is the place for you. It is also best for candidates who have to juggle between their family responsibilities and work given work from home on fridays is a norm. And some employees work 2 days from home.

No, I would not recommend this company to a friend

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Terrible management, Decent Pay

Marketing Specialist (Current Employee)
New York, NY

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

ProsOffice location and actual office is actually pretty nice, the pay is FINE, but not terrible. the people there are more laid back than other banks

ConsManagement was awful, my supervisor in general, the bonuses are pretty low, hard to move up

Advice to Senior Managementbe nice.

No, I would not recommend this company to a friend

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High management turn over leaves developers looking out for themselves

Assistant Vice President (Current Employee)
New York, NY

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

ProsGood 401k matching
convenient location
good mix of technologies in place even if a bit stale

Consslow technology adoption rate
high turn over of upper management
constant compliance tests

Advice to Senior Managementinvest into work from home program, keep more of your developers happy instead of outsourcing work all the time

No, I would not recommend this company to a friend

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Glassdoor is your free inside look at Bank of America reviews and ratings in New York, NY — including employee satisfaction and approval rating for Bank of America CEO Brian T. Moynihan. All 57 reviews posted anonymously by Bank of America employees.