Bank of America

  www.bankofamerica.com
  www.bankofamerica.com

Bank of America Reviews in New York, NY

Updated October 22, 2014
Updated October 22, 2014
6,779 Reviews
3.3
6,779 Reviews
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
2,899 Ratings

Review Highlights

Pros
  • Excellent work life balance including remote work from home for certain positions (in 402 reviews)

  • They have a program called MyWork which allows you to work from home or from any location (in 218 reviews)


Cons
  • Work-life balance seems to be skewed towards work side more often than not (in 166 reviews)

  • upper management failed to listen to the lower ranks often missing oppertuinitys (in 182 reviews)

More Highlights

126 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    Intern

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

    I worked at Bank of America as an intern (less than an year)

    Pros

    Great location and facilities. Good corporate structure and work-life balance.

    Cons

    It was surprising to see how little everyone knew. There is a reason Bank of America has been hit with so many lawsuits: no one knows whats going on.

    Advice to ManagementAdvice

    Make all employees take a financial aptitude test.

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

    Best time at Bank of America was before it went through all those mergers and outsourcing jobs to India.

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

    I have been working at Bank of America full-time (more than 10 years)

    Pros

    Opportunity for advancement.
    Bonus.
    37.5 hours a week

    Cons

    Too many mergers and outsourcing jobs to India.
    Medical benefits not so good. Little too much out of the pocket.
    New York back office moving operations to PA and Richmond, VA, therefore a lot of people are losing their jobs.

    Advice to ManagementAdvice

    Cannot replace people with expertise for people with no experience at all and expect them to learn wire transfer operations as well as claims and investigations in one year.
    They might save some money but in the long run it will cost the bank the loss of customers.

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

    Great place to build experience

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

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

    Pros

    Work-Life balance has reduced drastically depends on manager
    Great opportunities to volunteer
    Networking
    Benefits are not great. Healthcare has been very costly and options have drastically reduced.
    Corporate General Auditor is superb! Down to earth - if you get to meet her.

    Cons

    New BAC plans (sharing your ideas with the company) are not very effective.
    Poor external training. It makes you think either bank is cheap or your manager/directors are.
    Healthcare benefits are not the best
    You need to really kiss your manager's butt or work sweatshop shifts to get promotions and also pray for the opportunity to arise
    Very poor bonus compared to industry standards.

    Advice to ManagementAdvice

    Management brings initiative but never let's it sink through the organization. Need to motivate employees not by inviting for BYOD events.

    Recommends
    Neutral Outlook
    Approves of CEO
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  5.  

    The job is fine.

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

    I worked at Bank of America full-time (more than an year)

    Pros

    Compensation is OK, benefits are good.

    Cons

    Working hour is too long.

    Advice to ManagementAdvice

    Make the decision in a more efficient way.

    Recommends
    Negative Outlook
    No opinion of CEO
  6.  

    SSS

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

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

    Pros

    Good benefits, Advancement, friendly coworkers

    Cons

    hourly rate is very low compared to the service

    Advice to ManagementAdvice

    be just

    Recommends
    Approves of CEO
  7.  

    All things considered, Bank of America is a decent company to work for

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

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

    Pros

    Bank of America is leading the way in technology in banking channel. They offer a decent decent benefits which includes four weeks of vacation, all major holidays and three months maternity/paternity leave.

    Cons

    Staffing reductions are though on management and skew the work life balance. Since banking is so regulated, on-boarding time is long and work is laborious.

  8.  

    Good place to work. Very dynamic and moving.

    Former Employee - Project Manager in New York, NY
    Former Employee - Project Manager in New York, NY

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

    Pros

    They reward employess with lots of work and challenges/opportunities. Overall a great place to learn. Don't expect free lunches and treats but brown bag sessions to satisfy your quinch for more and more knowledge.

    Cons

    Heavy work load and need to perform. In my dept there was a clear shortage of human resources but team will have to manage. Some managers in the same departments are too mean and not flexible.

    Advice to ManagementAdvice

    In addition to work, need to ensure people are not bogging due to work.

  9.  

    Look elsewhere for technology work.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    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 10 years)

    Pros

    Great work-life balance, good team spirit, most people are willing to lend a helping hand.

    Cons

    Lack of direction from leadership, many hoops to jump through for a simple technology request

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  10.  

    Large company, great training and great fertility healthcare benefits.

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

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

    Pros

    Great learning opportunities from talented coworkers and training.
    Great fertility healthcare benefits.

    Cons

    Very large company
    Bureaucratic
    Expensive healthcare (more so than other banks based on conversations with friends)
    Lower than market pay in Risk

    Advice to ManagementAdvice

    Keep up great talent management and training

    Recommends
    Neutral Outlook
    No opinion of CEO
  11.  

    BOA Event Planner Experience

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

    I have been working at Bank of America as a contractor (less than an year)

    Pros

    Great work life balance, reasonable hours.

    Cons

    Zero opportunity to transition from a contracted employee to a permanent employee of the bank.

    Recommends
    Neutral Outlook
    Approves of CEO

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