Bank of America
3.2 of 5 5,991 reviews
www.bankofamerica.com Charlotte, NC 5000+ Employees

Bank of America Reviews

Updated Jul 10, 2014
All Employees Current Employees Only

3.2 5,989 reviews

                             

74% Approve of the CEO

Bank of America President & CEO Brian T. Moynihan

Brian T. Moynihan

(2,521 ratings)

63% of employees recommend this company to a friend
905 Employee Reviews Back to all reviews
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    Great Benefits, Just another Cog in the Machine

    Personal Banker (Former Employee)

    ProsHealth Benefits and Vacation Time/PTO was amazing. Positive team environment. Constant training to stay up to date with current industry trends and policies.

    ConsNot enough career development. Low pay compared to competition. Company doesn't have a clear definition on role perimeters - Wants you to sell like crazy but don't product push. Make up your mind. Says they listen to their employees on what procedures to make changes to, but in such a highly regulated industry the changes get placed on a back burner in order not to upset the clients/customers. Be their slave and they will treat you with the same respect - as a slave. "40 hours a week" means they work you those 40 hours over a six day span no overtime permitted.

    Advice to Senior ManagementStop worrying about setting a specific way of making your employees sell/treat your customers. Micromanaging leads to frustration and dissatisfaction amongst employees. Let your employees express a little more individuality when its comes to client interactions to not seem like such robots and your clients will appreciate your employees since of such individualism. You are trying to do way to much to not upset your clients but you are way too far beyond reconciliation because of what you have already done. You know who you are and what you did!!!

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

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    It's scare to think these bank was considered to big to fail

    Anonymous Employee (Former Employee)

    ProsAlot of different location convient

    ConsDisfuntional Corp environment and doesn't empower their employees to do the right thing

    Advice to Senior ManagementTo stop worry about getting in trouble and do the right thing by the customer

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    Credit Analyst

    Anonymous Employee (Former Employee)

    Prospositive work environment. The task was not that hard..

    Consback to back calls coming in, no real break, same task for 9 hours everyday.

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    Bank Teller

    Bank Teller (Current Employee)
    Lake Oswego, OR

    ProsOpportunities for education, personal growth, leadership. They offer benefits toward your own bank account and credit card. Although the plans weren't the greatest, they did offer health insurance.

    ConsIt seemed like sometimes there was a target on your back. There often seemed to be a lack of communication among managers, too. Some weeks we would be scheduled to work 6 days.

    Yes, I would recommend this company to a friend

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    Bank of America promotes growth, while providing challenges

    Banking Center Manager II (Former Employee)

    ProsBank of America does a lot of promotion from within and there are many lines of business for individuals to pursue. If one works hard and builds the right relationships, opportunities will present themselves. The benefit structure is also ideal with tuition reimbursement, child care assistance, flexible vacation time, health insurance, etc.

    ConsBank of America does not prepare associates well for the next role. From a training perspective, all that's provided is a few virtual calls and desktop training. Otherwise, the new employee has to learn on the job. Also, salaries are not very competitive. As a manager, you are expected to work extremely hard with minimal recognition for going above and beyond. It is also challenging as the bank does not support retail banking centers with optimal staffing which can make it difficult to provide ideal service, sales, and operational results. Moreover, expectations are high with little assistance.

    Advice to Senior ManagementThe banking center has to be the focal point of the company if Bank of America desires to be #1 in customer service across all financial institutions. The clients are the most important part of our business and the associates have to be provided the appropriate assistance to handle the business. Also, Bank of America must do a better job of training its new to role employees. Each new teammate should have a peer mentor that he or she can shadow to make him proficient. In so doing, the experience associate can use this as an opportunity for development towards leadership roles. Moreover, the compensation structure should be more favorable and associates should be more highly appreciated.

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

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    Solid Waste rolls readily downhill at this company.

    Senior Teller (Current Employee)

    ProsThe company has great benefits and a real commitment at the corporate level to diversity and inclusion.

    ConsMuch of the benefit of working here is lost at the retail level due to horrible management. Both the general lack of ability of most retail managers combined with some of the worst policies, effectively allows working conditions to develop that are a real shame. In addition, retail branch staff are treated as red-headed step children. You might have been a CEO in the past - but if you take a teller job, you will be treated like a moron who is incapable of thought.

    Advice to Senior ManagementPay attention. High turnover can alert you to something. Hire BCMs with integrity.

    No, I would not recommend this company to a friend

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    Not a good place to work for

    Anonymous Employee (Former Employee)

    Prosworking from home, good benefit if you fall in the certain category.

    Consinexperienced management, low pay, micromanage.

    No, I would not recommend this company to a friend

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    Good Company but with mediocre leadership

    Anonymous Employee (Former Employee)

    ProsHas good benefits overall with nice vacation to start, 401k etc

    Consno much room for promotion or personal growth.

    Advice to Senior Managementbe realistic, work with your staff and stop micromanaging everything. is either their way or no way,

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

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    Former Financial Advisor: BofA is an Evil Empire and worse after rescue merger of Merrill Lynch!

    Financial Advisor (Former Employee)

    ProsEducated peers, comfortable office chairs, decent technology

    ConsLow Pay, constant flux, always changing, mess after multiple acquisitions of other banks to grow artificially, definitely view customers as profit centers and lots of pressure to cross sell bank products, have to consistently increase revenue by 120% YOY just to make the same income, Comp plan revised negatively every year to decrease payouts to FA's, bonus pool is funded by withholding 25% of your own production and then potentially paid back to you depending on hitting certain metric goals (bank loan referrals, HELOC's, Insurance, Fee Based growth, etc) but even when you hit 150% of goal somehow there aren't sufficient funds to payout the bonus.

    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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    • Senior Management
           
    • Comp & Benefits
           
    • Career Opportunities
           
    • Disapproves of CEO

     

    Only people with no drive should work here

    Vice President (Current Employee)
    Boston, MA

    ProsI would only suggest people right out of school to work here. If you have any creativity or drive you will get frustrated with working at this company. This company doesn't feel the need to have people that want to think outside the box.

    ConsNo salary increases, however they have no problem raising the cost of your benefits year after year.

    Advice to Senior ManagementLearn that you are only as good as the people you hire. Working for you is like working for a dictator.

    No, I would not recommend this company to a friend

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