Banc of America Securities Reviews

Pros

fun; opportunities for advancement; long history; your boss will be very proactive in making sure you understand the concepts and skills needed to perform the job.

Cons

a large company may limit the amount of responsibilities you may have. because of financial crisis, job security may be a concern.

Advice to Senior Management

make corporate structure more flat; offer more internship activities and events; senior management need to open the door. better mentorship

Pros

Smaller operation within a huge corporation. BofA gave the Global Corporate & Investment Bank shelter.

Cons

The bureaucracy of a huge corporation when it came to benefits, etc.

Advice to Senior Management

Stop being so enamored with growth. You overdid on the Countrywide and especially the Merrill Lynch acquisitions.

Pros

BAS tends to be one of the more stable investment banks. They may not pay the highest on the street, but they also do not get hit as hard during the downturns.

Cons

Working for an investment bank tied to a commercial bank (in the pre-fallout era) did mean that you had to put up with some commercial banking PR garbage that was unnecessary. Stuff like corporate donations to various charities, training that was a waste of time for investment banking personell...etc. There were a few instances in 2007 of groups that received zero bonuses for the year, although this was laregly in groups that were MBS/ABS related.

Advice to Senior Management

Senior Management has done an acceptable job in managing the investment bank, but they should let BAS have more autonomy from BAC.

Pros

Friendly environment, pays well versus other investment banks, relatively stable company, large universal model, just built a new tower in Manhattan with nice perks, good benefits

Cons

Second tier bank, management lacks a clear vision on where the bank is headed, there is prejudice against non-white male Americans and hardly any diversity outside corporate finance, too much politics in day to day business, lack of firm culture

Advice to Senior Management

Implement better retention policies, design continuing education/training, have fairer compensation policies, improve business model