Bank of America

  www.bankofamerica.com
  www.bankofamerica.com

Bank of America Reviews

Updated November 20, 2014
Updated November 20, 2014
6,955 Reviews
3.3
6,955 Reviews
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
2,971 Ratings

Review Highlights

Pros
  • Excellent work life balance including remote work from home for certain positions (in 408 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 171 reviews)

  • upper management failed to listen to the lower ranks often missing oppertuinitys (in 184 reviews)

More Highlights

572 Employee Reviews Back to all reviews

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  1. 1 person found this helpful  

    Deserving of its reputation

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Operations Manager in Rolling Meadows, IL
    Former Employee - Operations Manager in Rolling Meadows, IL

    I worked at Bank of America full-time (more than 5 years)

    Pros

    The company offers great benefits to it's lower level of associates, however as your compensation grows, the health insurance benefits deminish significantly. One is almost better off seeking coverage in the market place. The company promotes it's values incessentantly almost to the point of propaga. However their commitment to customer service is the least I've seen in my 25 years of experience in customer service.

    Cons

    Considerable lack of depth in managerial roles. Leadership is spoken of but in practice there is little knowledge of. Personal growth is almost impossible, this was the only company in which I served 5 years with out a promotion and I worked for much more presdigious, demanding and reputable firms. They restrict a lot. Demand participation in outside events and will even negate your review if you do not play in their reindeer games.

    Advice to ManagementAdvice

    Don't surrond yourself with yes men. Consider real leadership development programs instead of silo mentality. Beware of managers who view their associates as subordinates. The attendance policy is outdated and punative. The Brand deserves exactly what it got except possibly worse. If people only were aware. Seriously the largest contributor to Rick Perry's PAC. That's the guy that wants to shut down agencies whom doesn't know what they do. It speaks volumes.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    Bank of America discriminate among temporary contractors and employees that are minorities.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Post Closer in Simi Valley, CA
    Former Employee - Post Closer in Simi Valley, CA

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

    Pros

    The opportunity to work overtime was very beneficial when there was a large pallet of housing notes that are in foreclosure, along with other important documents. Also worked during the week with the opportunity to work on the weekends.

    Cons

    Sitting in one spot for more than two hours of processing documents and recording it on the AS 400 network. Satisfying the Senior Management when the assigned work is complete. Also, there was no opportunity for personal growth with the company unless the Senior Manager has a good and comfortable relationship with the contractor or employee.

    Advice to ManagementAdvice

    Learn how to treat all of your contractors and employees with respect and dignity. Also discrimination is a violation of federal law based on the Civil Rights Act of 1964.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3. 2 people found this helpful  

    The worst place to work

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

    I worked at Bank of America full-time (more than 8 years)

    Pros

    Health Benefits are somewhat okay

    Cons

    It's just business because they simply dont care about a resource, human or otherwise

    Advice to ManagementAdvice

    Always consider the whole story and not just appearances. Appearances can be very deceptive and misleading. Watch out for micro-managers that cannot take time for their family even if they have a baby returning to work 5 days later. Do not fire your Leaders for such petty micro-managers because they can tickle your ears with false flattery. Someone made a huge mistake in laying off a leader and keeping the micro-manager who stated "I hate that team!!"

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5. 1 person found this helpful  

    Aweful

    • 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 pay
    Team mates are good people.

    Cons

    Managers only care about their own success
    Extremely hard to earn insentive, sales goals are too far fetched

    Advice to ManagementAdvice

    Treat your employees like humans not numbers.

  6. 1 person found this helpful  

    Use only as a stepping stone! Your will NOT build a career HERE!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Collector II and Home Servicing Specialist II in Hunt Valley, MD
    Former Employee - Senior Collector II and Home Servicing Specialist II in Hunt Valley, MD

    I worked at Bank of America full-time (more than 5 years)

    Pros

    Nothinng about this bank was good except the fact you can say " I work at Bank of America" since they are one of the largest banks in the world.

    Cons

    Almost everything about the bank is a con. I started out as a Collector 1 and I spent 5yrs in my previous life as a wireless service sales rep and manager. I had little to no training at all. They never provided any type of training. I went from a Collector 1 to Collector 2 in 6months and Sr. Collector at 14months.mthen bc they bought countrywide in 2009 and we mitigated so much loss we turn into the mortgage process division. How do you start off as a collector and spend most of your banking career in collections and then all the sudden get thrown into mortgages. Let me tell ya, the training for that was awful and he qouta was 25loans clear to close by 25th of the month. Bc we were doing Refi's the " right of revision " was 3 days and if someone decides not to go through with it you got written up.

    To me, BOA was too big of a bank to biuld a career most of the veterans and old dogs there that spent 25+ yrs were fired without pension, severance and Webern I resigned I was told I was "not suited for this kind of job" by the president that was recently demoted bc he knew nothing of the mortgage industry. However, I am still processing mortgages and I love what I do now. They called us Processors at BOA but we knew very little about the whole industry.

    A couple of month ago, I found out they closed their "mortgage departement" and went back to "customer service reps" and they started to outsource most of their open spaces with people in the 3rd world countires. What does that tell you about the structure and the senior leaderhip.

    If you happen to get a job here do not stay bc they will throw you away when they think they are finished with you and they will not help you develope your skills sets. they will eventually find a way to get rid of you after you have been there 3+ years. use them only as a stepping stone as they will use you.

    Advice to ManagementAdvice

    Do not fire the old dogs that made your company and is the only reason you have a job.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7.  

    Avoid like the plague

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

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

    Pros

    Another line on your resume.

    Cons

    Technology senior management is chasing trends but has no overall strategy. The one and only positive, the work from home program is being shut down. The reason is to increase collaboration but yet they keep pushing India resources into projects. That does not increase face to face collaboration unless I am mistaken.

    Reorgs happen every few months and the wrong people are in positions of power. Poor management decision making is part of the daily working life here.

    Senior management pretends to care about employee feedback but it's all show.

    Morale is very low due to constant threat of layoffs and lack of direction.

    Benefits are horrible. Health insurance choices are high deductible and higher deductible plans.

    Advice to ManagementAdvice

    Enough with the dog and pony show. Put up or shut up.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 1 person found this helpful  

    Management was all wrong and from previous Countrywide

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Litigation Specialist in Fort Worth, TX
    Former Employee - Litigation Specialist in Fort Worth, TX

    I worked at Bank of America

    Pros

    good short term disability, great health care

    Cons

    The staff they had dealing with the litigation matters had no legal background and didnt know the judicial process, yet they were given hundreds of files to process.

    Advice to ManagementAdvice

    Stop hiring your friends and family and hire competent staff so that the experienced staff are not overloaded while the other have 1/3 less portfolio

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  9.  

    Terrible company but good on the resume

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Personal Banker in Boston, MA
    Former Employee - Personal Banker in Boston, MA

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

    Pros

    Many locations
    Big name
    Learn serious sales skills

    Cons

    Company doesn't care about its employees
    Very stressful environment
    Micro manages

    Advice to ManagementAdvice

    Don't micro manage and trust your employees.
    Treat your employees with respect and compassion.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10.  

    the target of banks.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Personal Banker in Highland Park, IL
    Former Employee - Personal Banker in Highland Park, IL

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

    Pros

    the benifits offered such as insurance and dental are top of the line aswell as paid vacation and the oppurtunity for advancent. 2 Weeks training provided and commute to training facility can be written off.

    Cons

    a company that cares very little for its employees and has a general attitude of you dont matter. as an employee you can expect to be driven endlessly, micro managed in 15 minute increments and be given little to no respect. A very repressive environment just do as you are told you dont need to know why ect ect. False systems in place to give the false impression of employee empowerment. Constant criticism (built into manager 'roadmap') lots of terms to soften the reality of things such as 'coaching' which it literally just criticism not necesarily contructive. Policies are in an employee accessible sites but are not always observed and if an employee violates a policy write ups are issued. Mangement however is outside of the rules and do not observe the same rules and policies imposed on there employees.

    Advice to ManagementAdvice

    practise what you preach. Live by the alleged morals and slogans constantly flooding the internal e-ways. Talk is only talk.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11.  

    Decent company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Associate in Charlotte, NC
    Current Employee - Associate in Charlotte, NC

    I have been working at Bank of America full-time (more than an year)

    Pros

    The pay is definitely higher at this company than what other companies pay for similar positions. There was flexibility in the past with working from home, but that has shrunken. From my experience the name of the company holds a lot weight. It will open doors for you externally.

    Cons

    It is the "good old boys club" type of atmosphere. It's all about who you know and not what you know. Expect to be treated unfairly. The hours expected are a lot but nothing nearly as bad as some other companies. Raises and bonuses are less than impressive. It is very difficult to move up and move to other departments in this company. Many people in management roles don't actually know how to manage nor do they really know what's going on in their area.

    Advice to ManagementAdvice

    I have no advice for this company. It is going to operate itself into the ground no matter what anyone advises just as it has already done.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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