Banc of America Securities Reviews

Pros

BAS gives you the same basic training as any other Investment Bank and deal flow in certain areas is very strong

Cons

Not being in NY can be challenging and working within the ever changing org structure can become very frustrating over time

Advice to Senior Management

Advice would include better feedback and provide more stable work environment by not constantly re-organizing product areas and promote better communication across geographic regions

Pros

The team leaders were strong and supportive. And the comradeship between the analysts and associates was incredible. Also, I think we had one of the best Quantitative Support teams in the business.

Cons

Beyond the individual team leadership, there was practically none. No clear direction for the company or the business units. Senior executives were absent. The company handled the merger with Merrill Lynch incredibly poorly. I still understand there is animosity between the two loyalties.

Advice to Senior Management

Try to develop more of a horizontal structure. It's important for the young people (and old people) to see they have support from management and understand the goals of the company.

Pros

BofA had an excellent investment banking analyst training course. The learning curve of an investment banking analyst cannot be beat, although this is true of almost any investment bank. Benefits and bonus seemed fair, given I was toward the top. Although deal flow was slow, the deals I did work on were also extremely educational.

Cons

Hours, hours, hours wasted on pitches that were never technically scheduled! Also many hours spent in the office simply because that was what was expected, but did not seem necessary.

Advice to Senior Management

I do not mind working hard, but I like to see some results from the effort. I also felt there were definitely times when managers required the analyst to be at the office simply for the sake of being in the office.

Pros

- comparable to other financial institutions in analyst pay and benefits

Cons

- hired way too many analysts than were jobs available
- did not communicate warnings, or information about analyst career oppportunities and where the company was headed (and did not quell negative rumors either)
- managers were confused and could not lead teams effectively under duress from above issue

Advice to Senior Management

- communicate better with MDs

Pros

* Compensation
* Colleagues are some of most intelligent in the industry
* Great place to network for future opportunities
* Good deal flow
* Resume builder with experience at a bulge bracket bank

Cons

* Tough work/life balance
* Not a place to work if you thrive on positive feedback
* Little to no communication with senior management

Advice to Senior Management

Thank you for the opportunity and experience.

Pros

One gets the chance to work for a big player in the field as well be in a growing company.

Cons

It is a growing company so not so much deals, plus the economy is terrible. Lost of hours so be prepared.

Advice to Senior Management

reduce the hours of the employees to make them happy and keep them, or else they leave to do other jobs

Pros

Some great and talented people work here
Salary is good

Cons

Offices other than the BOAT [Bank of America Tower] are pretty mediocre

Everything depends on your immediate and one level up manager, if they aren't appreciate of their workers, don't expect any recognition.....at all

Advice to Senior Management

Stop bringing in outsiders to run the company, grow talent from within, seriously, you have some really gifted people in mediocre mid management roles, seek them out!

Pros

The Leveraged Finance group provided me with a rigorous and challenging experience. I learned a lot, and made some very good friends (at the analyst and at the associate level). Coming out of the analyst program, I had a solid fundamental understanding of finance and the debt side of the capital markets.

Cons

Compared to friends at Morgan Stanley, Wachovia, etc., I had to be VERY secretive when I was exploring new jobs in private equity. My friends at the aforementioned firms did not - in fact, their firms offered WORKSHOPS for PE interviews (including question answering, model workshops, case study workshops, etc.). We had no such thing, and on top of that I felt like I had to be ridiculous shady about interviewing for fear of getting fired (we were mid layoffs). In the end, I however, I could confide in colleagues with whom I was close and it all worked out, but it was pretty disconcerting to have to be so secretive.

Advice to Senior Management

Be clearer with employees about plans for the future and changes happening to the group. Also, the review process was flawed - my comments wouldn't necessarily match my "score," and it was absurd when my friends and I would compare our reviews; it was like they literally just changed the name on the review.

Pros

I really enjoyed the people I worked with. The analytical skills taught were exceptional in addition to client time. I would work there again.

Cons

Not enough exposure to clients

Advice to Senior Management

Involve people below senior level management more exposure to clientele and have them involved in the winning business process rather than solely execution.

Pros

- relatively stable investment bank with true universal bank platform
- no "cut throat" competition among bankers
- great place to learn and get exposure
- some senior bankers are great to work for and very supportive and it is easy to identify them

Cons

- poor management and lack of information sharing
- limited deal flow, difficult for large clients to look past the traditional commercial banking platform...although the ML acquisition may change that perspective
- disproportionate time spent on elephant hunting (marketing/pitching to big clients for big deals)

Advice to Senior Management

- share information, involve bankers with decision making
- leverage junior and mid level bankers to do more than create pitch books
- pay at least street comp