Bank of America

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Bank of America Reviews in New York, NY

Updated Jul 23, 2014
All Employees Current Employees Only

3.1 325 reviews

70% Approve of the CEO

Bank of America President & CEO Brian T. Moynihan

Brian T. Moynihan

(124 ratings)

59% of employees recommend this company to a friend

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
62 Employee Reviews Back to all reviews
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

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

    Vice President (Former Employee) New York, NY

    ProsSomewhat 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.

    ConsAbsurd 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 Senior ManagementSlash 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.

    No, I would not recommend this company to a friend

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

    Vice President - Project Manager (Current Employee) New York, NY

    Prosgood work life balance, decent benefits

    ConsJob security, exciting opportunities, pay

    Advice to Senior ManagementConsider discussing problems, improve on 1-1 conversations, recognize talent

    No, I would not recommend this company to a friend

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    • No Opinion of CEO

     

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

    Entry Level (Former Employee) New York, NY

    Prosnot many. They are will to pay overtime

    ConsTreat people like cattle.Everyone is just a number

    Advice to Senior ManagementLeave while they can........you are disposable as well

    No, I would not recommend this company to a friend

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Worked in the technology division. Good people, horrible management

    Anonymous Employee (Former Employee) New York, NY

    ProsGood hours 9-5, descent technology infrastructure.

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

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

    No, I would not recommend this company to a friend

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    Overworked under paid

    Financial Analyst (Former Employee) New York, NY

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

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

    Advice to Senior ManagementHire more people rather then giving one person 3 different types of jobs that only one person can handle.

    No, I would not recommend this company to a friend

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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

    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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    • No Opinion of CEO

     

    Great people but no so great policies

    Analyst (Current Employee) New York, NY

    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

    • Culture & Values
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    • Approves of CEO

     

    Mortgage Loan Officer

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

    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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    • Disapproves of CEO

     

    Technology VP

    Vice President (Current Employee) New York, NY

    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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    • No Opinion of CEO

     

    Not good, not bad.

    Teller (Former Employee) New York, NY

    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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