Bank of America

www.bankofamerica.com
Employer Engaged

Bank of America Reviews in New York, NY

Updated February 26, 2015
Updated February 26, 2015
73 Reviews
2.0
73 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
73 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

73 Employee Reviews Back to all Reviews

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

    Terrible Employer

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

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

    Pros

    Free bank accounts, no overdraft fees

    Cons

    very inconsiderate, low salary compared to other banks, customers are rude, banking centers are understaffed

    Advice to ManagementAdvice

    You need more staff, you cannot expect to run a bank with 2 tellers and one pb.....get more PB or SSS

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2.  

    Environment

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

    I worked at Bank of America as a contractor (more than a year)

    Pros

    Very political and controlling
    Micro management and lack of moral

    Cons

    Political environment
    No room for growth

    Advice to ManagementAdvice

    Team building activities

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3.  

    Product specialist

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

    I have been working at Bank of America

    Pros

    People were great, hours were good. Good work life balance

    Cons

    Lack of training. Technology needs to be updates

    Advice to ManagementAdvice

    Give additional training to stop attrition

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. 1 person found this helpful  

    No future in retail banking centers

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Teller Operations Specialist in New York, NY
    Former Employee - Teller Operations Specialist in New York, NY

    I worked at Bank of America full-time (more than 5 years)

    Pros

    Peers are great for the most part, on the same page. Help each other. Management is not fair, half don't know what their doing . Management worried about their payouts only, other positions that do all the work do not qualify for bonus or payouts.

    Cons

    All positions being phased out, replaced my machines

    Advice to ManagementAdvice

    Leave the corporate office and surprise banking centers and see whats really gong on.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    Very Bad

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

    I have been working at Bank of America

    Pros

    You will earn base salary + bonus. But, your income will never over 100,000 no matter how many years you work

    Cons

    Very Bureaucratic. Your manager control you all the time. Sometimes, your manager asks you to do his personal favor.

    Advice to ManagementAdvice

    Do not give too much power to branch manager. Company should always watch branch manager to abuse powers.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  7.  

    Overworked, Underpaid

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

    I worked at Bank of America full-time (more than 8 years)

    Pros

    working with smart people, clients

    Cons

    a lot, too many to consider really on the equity side. Management is only out for themselves.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    High turnover, questionable leadership, and paltry drive for promotions.

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

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

    Pros

    Bank of America reputation on your resume

    Cons

    High turn over for analysts. During the several years I have been employed there, in my department I had a total of four managers cycle through in that specific position. In early 2014 there was also was a large exodus of SVP's to better paying and managed competitor firms. Though in 2014 the company did fair well and revenue was high, through the actions of the CEO Brian T. Moynihan, they decided to bolster their balance sheets by having several waves of layoffs. In summary, I had felt they DID NOT VALUE THEIR EMPLOYEES. In addition, the management in the division I worked in was cheap about raises and promotions. There were people who worked diligently to surpass goals and metrics that were not awarded promotions. An example would be a brilliant colleague of mine that was long overdue for a promotion that never received it. This analyst was a hard worker AND was accepted into the HARVARD SCHOOL OF BUSINESS MBA program (to attest to her caliber both intellectually and drive) but was denied a promotion. Suffice to say after several requests, my colleague got fed up and left the establishment. Note that I do not know how other divisions operate in Bank of America but the above review reflects my experiences within my division for commercial credit.

    Advice to ManagementAdvice

    Value your hard working employees. Perhaps it was because my department was managed (or mismanaged) by legacy people from FLEET when it was acquired by Bank of America, but when an individual receives a MEETS and EXCEEDS on their annual performance reviews consistently AND gets into Harvard Business School and CAN'T GET A PROMOTION shows a lot about the company and the culture. I am glad I do not work for this institution anymore and would NOT ever want to work here again. Management is below par and displays a high level of favoritism within the groups.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  9.  

    Soul crushing

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

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

    Pros

    You don't want to be homeless

    Cons

    You'll really miss being homeless

    Advice to ManagementAdvice

    Keep your resume up to date, they get fired on a regular basis.

    Disapproves of CEO
  10.  

    Wheels are coming off

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

    I worked at Bank of America full-time (more than 5 years)

    Pros

    It's a great office environment with wonderful, hard-working colleagues. Some perks available like discounted car loans/mortgages

    Cons

    You must manage up, or you will go nowhere. Face-time is critical; make sure you are in your seat by 7:30am when the head guy walks in (and I hear its gotten even worse since I left) Anything above the VP level is completely political, not a meritocracy at all. Large rounds of lay-offs come too frequently, and the decisions on who stays are clearly politically motivated. I saw them sack people who had been with the firm for 20+ years

    Advice to ManagementAdvice

    Pay more attention to the people working in the trenches

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11.  

    Rates Sales

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

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

    Pros

    Large bank, lots of opportunity if you can navigate the politics and bureaucracy

    Cons

    Top heavy issues, everyone in it for themselves, lack of mentors, work juniors like dogs while seniors on desk are off "entertaining" clients, your holiday schedule is policed with no flexibility

    Advice to ManagementAdvice

    Provide better chanels of mentoring

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

Work at Bank of America? Share Your Experiences

Bank of America

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.