Bank of America

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Bank of America Reviews in New York, NY

Updated September 15, 2014
Updated September 15, 2014
6,474 Reviews
3.3
6,474 Reviews
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
2,761 Ratings

Review Highlights

Pros
  • Excellent work life balance including remote work from home for certain positions (in 352 reviews)

  • Great coworkers, good work /life balance they let a lot of people work from home (in 195 reviews)


Cons
  • Sexism; old BFF network; little work life balance, but they gave lip service to it (in 138 reviews)

  • Lack of communication from upper management with regards to procedure changes (in 162 reviews)

More Highlights

64 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    Technology on the investment side

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

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

    Pros

    There are lots of educational resources and opportunities. The compensation is decent. You can take advantage of some of their banking benefits.

    Cons

    Absolutely no work-life balance, everything is by the book, incredibly slow practices and lots of legacy systems. The technology culture is poor; as a woman developer, their women-in-technology program needs a lot of improvement. The mentorship program is weak. It takes ages to get promoted. Upper management expects you to live, breathe and sleep your work with barely any regard to your personal issues. The insurance benefits are a joke. No cohesion to a lot of their policies. If you work on the investment side, all your own investments are tracked by the bank and have to be approved by your direct manager.

    Advice to ManagementAdvice

    Make your employees happy, particularly the technologists. Apply some of the principles and policies Merrill Lynch had in place before it was acquired by BAC.

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

    Fulfilling but challenging

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

    I worked at Bank of America full-time for more than 10 years

    Pros

    Well balanced schedule and a solid retirement plan(401K).

    Cons

    Very long hours, and not easy on getting promoted.

    Advice to ManagementAdvice

    Reward the workers that are extremely dedicated to the firm.

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

    average company, average salary, decent work hours, layoffs everywhere

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

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

    Pros

    good work life balance, decent benefits

    Cons

    Job security, exciting opportunities, pay

    Advice to ManagementAdvice

    Consider discussing problems, improve on 1-1 conversations, recognize talent

    Doesn't Recommend
    Neutral Outlook
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  5. 2 people found this helpful  

    Most Incompetent management I've seen in decades long Wall Street Career

    • 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 for more than 3 years

    Pros

    Somewhat flexible in allowing remote work arrangements
    There are definitely some very smart, talented and capable people--including some leaders/managers--unfortunately the issues outlined in my "cons" makes it tough for such people to shine.

    Cons

    Absurd number of management levels; incredibly useless and clueless middle management;
    Most middle management I experienced did not understand the work being managed; this resulted in fixating on simplistic metrics that such management could understand--thus being oblivious to the big picture, the mediocrity of the results being produced, or meaningful leadership.
    Management roles are given out in lieu of other meaningful reward; the result is tons of management that has neither the aptitude or skill necessary to lead--and the bank does not provide meaningful leadership training.
    Extremely rigid and hierarchical management structure---that overtly asserts that a "higher" management title translates to a "superior" individual in terms of worth, brains, and competency--despite copious evidence this assertion is false.
    The company is fixated on managing risk--but the most laughable aspects of this is 1) the willful blindness to the risk posed by incompetent management; 2) the culture is not supportive of questioning "superiors"

    Advice to ManagementAdvice

    Slash the absurd number of management levels; require all managers--especially "senior" ones like MDs and Directors to get out of the office, and regularly and proactively go out and meet/greet the worker bees, and develop some sense of what is happening in the organization.
    Institute 360 reviews so managers get feedback from those they manage.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6.  

    Bank of America brought out my prior employer....it went down hill and then they shut us down

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

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

    Pros

    not many. They are will to pay overtime

    Cons

    Treat people like cattle.Everyone is just a number

    Advice to ManagementAdvice

    Leave while they can........you are disposable as well

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7.  

    Worked in the technology division. Good people, horrible management

    • 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 for more than 3 years

    Pros

    Good hours 9-5, descent technology infrastructure.

    Cons

    Poor management. Some of the most dysfunctional managers I’ve ever encountered.

    Advice to ManagementAdvice

    Implement a 360 review system where everyone in the team can review other people they work for or with; including other managers.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  8.  

    Overworked under paid

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

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

    Pros

    Tested my patients and opened my eyes up to the operations within BOA.

    Cons

    Always wanted more - never satisfied and wasn't compensated for excess work.

    Advice to ManagementAdvice

    Hire more people rather then giving one person 3 different types of jobs that only one person can handle.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  9.  

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

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

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

    Pros

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

    Cons

    Pay 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 ManagementAdvice

    Read 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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Great people but no so great policies

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

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

    Pros

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

    Cons

    little 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 ManagementAdvice

    consider equal opportunities for all associate across the board

    Recommends
    Neutral Outlook
    No opinion of CEO
  11.  

    Mortgage Loan Officer

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

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

    Pros

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

    Cons

    Management 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 ManagementAdvice

    Realize that without your employees you will be out of business.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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