Bank of America

www.bankofamerica.com

Bank of America Reviews

Updated January 30, 2015
Updated January 30, 2015
7,497 Reviews
3.3
7,497 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
3,201 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

2,349 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1. 7 people found this helpful  

    Teller

    • 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

    Pros

    Good benefits including 401k match, paid vacations and sick days etc, even for part time employees. Flexible and work with school schedule. Good starting pay.

    Cons

    Constant changes in the company are hard to keep up with. Tellers don't get bonuses and aren't paid enough for all the responabilites that they are giveb. Very hard to have a life outside of work. Can be very stressful at times .

    Recommends
    Positive Outlook
    Approves of CEO
  2. 5 people found this helpful  

    The Bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Bank of America full-time (more than 8 years)

    Pros

    -Many diffrent opportunities
    -generally pay is extremely competitive
    -benefits are outstanding
    -work life balance is a focus

    Cons

    -very political in terms of promotions
    -layoffs every year
    -high turnover in leadership positions
    -large focus on theory vs practicality

    Advice to ManagementAdvice

    Once your start down a strategic path stick with it for long enough to see the long term out comes instead of changing the focus every 1 or 2 years before the results can ever fully be realized.

    Recommends
    Neutral Outlook
  3. 1 person found this helpful  

    Great Career Opportunity, Limited Security

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Assistant Vice President in Kansas City, MO
    Current Employee - Assistant Vice President in Kansas City, MO

    I have been working at Bank of America

    Pros

    Bank of America really does care about their employees. They have decent salaries with great benefits. Working conditions are good. As always, it depends on the department and manager you work for, but generally, I have had great experience with managers at all levels. There are always opportunities for advancement, though they are not always clear, but they have ways to increase your learning via web classes. I went from cash handling to an at home work position over the twenty plus years I worked there.

    Cons

    Some have complained about a work life balance when you move to higher positions, or if you are in a high volume type production environment. The tellers and banking centers deal with sales issues, but in many back office positions that is not the case. One major issue is that when they do their yearly "house cleaning", they consolidate departments and lay folks off without warning. We held our breath every year or whenever an internal re-org took place. This does not lend itself to job security and gives the impression that the company is not really concerned about its employees.

    Advice to ManagementAdvice

    Internal advancement opportunities need to be made more clear. Furthermore, the re-organization/consolidation process creates A LOT of stress for the regular employee and ultimately effects their loyalty to the company. When an employee doesn't believe, or perceive, that the company is concerned about them because they lay folks off at a whim just to save money (when we all know BOA has enough), it effects their performance and their sense of dedication. A better way is to allow attrition to solve the problem as much as possible, and to offer opportunities within the company BEFORE just cold turkey laying folks off. An employee doesn't feel like the bank's "greatest resource" when they are treated as expendable so easily.

    Recommends
    Neutral Outlook
    Approves of CEO
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. 1 person found this helpful  

    I worked for Bank of America for almost 30 years. It's a good company to work for.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Vice President IT in Charlotte, NC
    Former Employee - Senior Vice President IT in Charlotte, NC

    I worked at Bank of America

    Pros

    Bank of America provides good benefits to it's employees. There are a lot of different areas, so employees can move around and learn new skills.

    Cons

    There are a lot of layoffs, so that scares many employees because they don't know how long they will have their job.

    Advice to ManagementAdvice

    The technology funding process is flawed, and if it were given the attention it needs, then the yearly lay offs in the tech area could be minimalized.

    Recommends
    Neutral Outlook
    No opinion of CEO
  6.  

    Typical Big Bank culture..

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President in Los Angeles, CA
    Former Employee - Vice President in Los Angeles, CA

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

    Pros

    Bank of America or BAC as its affectionately called is your typical friendly neighborhood, big lumbering bank with a zillion middle management layers. It is also a splendid place if you are in the right place - especially the Merrill side or the erstwhile Countrywide side of the business. The Bank is still fixing itself from the self afflicted wounds of buying out Countrywide.

    The typical big bank bureaucracy abounds everywhere.But then again, do you see those other nimble footed banks? Wait...you don't? Yes, that is because that notion died with the Dodd-Frank rule, the Volcker amendment and a myriad other byzantine rules invented to basically make banks less "risky". Bank of America (BAC) is not immune to those rules. What it translates to in organizational culture terms is: layer upon layers of "defense" . No, the bank isn't defending against risk. it is defending against regulators! In a sense BAC is very disproportionately targeted by regulators. Tons of fines...Everyone screwed up, but no one got hit as hard as BAC did...

    All of these translate into a less than spectacular experience. But in terms of opportunity, BAC is a good place to be in. All prospective employees, please read "The Crash of the Titans" - it basically explains the corporate culture of BAC. Overall I would recommend a career here. It is a good place.

    Cons

    The layers, confusing org structure, kinda slow to react...but I experienced this: they do pay you for performance in BAC. At least, that was my experience.

    Advice to ManagementAdvice

    Lobby the Government to get off the backs of big banks! Encourage risk taking...Take banking back to what it once was!

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    Teller

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

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

    Pros

    great company and benefits overall

    Cons

    needs to give employess more

    Recommends
    Positive Outlook
  8.  

    Overall, a good company to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Technology Associate
    Former Employee - Technology Associate

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

    Pros

    The best part of working for the company are its people, they are truly an asset. Great telecommute policies for those jobs that are eligible.

    Cons

    Continual rounds of lay-offs, you just never feel safe in your job, even if you are a good or exceptional employee. It is difficult to take on additional work as others are let go, people are spread very thin.

    Advice to ManagementAdvice

    Find positions for the good employees rather than lay off entire departments.

    Recommends
    Neutral Outlook
    Approves of CEO
  9.  

    BofA

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

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

    Pros

    People are nice to work with.

    Cons

    Losing Benefits Slowly
    Always changing within the organization.
    Salaries are lower then normal.
    No vacation time.

    Recommends
    Neutral Outlook
  10.  

    BofA is a good company to work for if you love corporate america. Lots of good benefits.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Consultant - Applications Programming in Dallas, TX
    Current Employee - Consultant - Applications Programming in Dallas, TX

    I have been working at Bank of America

    Pros

    4 weeks vacation, 11 paid holidays, 2 weeks sick pay, 5% matching 401k, work from home, very good supervisors and managers or at least in my case, company takes employees concerns very seriously,

    Cons

    Lots of BS type work and activities in addition to what you were hired to do. For example volunteer work, lots of government compliance training, United Way heavily promoted, too many wasteful meetings when a email would have been better, lots of red tape required from everyone before anything can get done by anyone, lots of BS time consuming activities required by all levels of management, cyber security paranoia (and rightly so!).

    Advice to ManagementAdvice

    Let each employee spend more time on the main thing they were hired to do and cut out all the time consuming BS, interruptions, and distractions. More training that improves the workers main skills for which they were hired for. i.e. If you are a programmer then more training for programming skills.

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    Good company to work for.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Bank of America

    Pros

    Good work life balance compared to other companies.

    Cons

    Difficult to move up due to management.

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.