Banc of America Securities

  www.bofasecurities.com
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Banc of America Securities Reviews

16 Reviews

3.5
16 Reviews
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Banc of America Securities President Brian T. Moynihan
Brian T. Moynihan
4 Ratings

Employee Reviews

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  1.  

    Great employer

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

    I worked at Banc of America Securities

    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 ManagementAdvice

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

    Recommends
    Approves of CEO
  2.  

    Merrill Lynch seems to be running the merger and may be the ruin of BofA if you don't watch out.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Research Department Professional  in  New York, NY
    Current Employee - Research Department Professional in New York, NY

    I have been working at Banc of America Securities

    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 ManagementAdvice

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

    No opinion of CEO
  3.  

    BAS - Not a bad place to work...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Investment Banking Associate  in  Dallas, TX
    Former Employee - Investment Banking Associate in Dallas, TX

    I worked at Banc of America Securities

    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 ManagementAdvice

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

    Recommends
    Approves of CEO
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  5.  

    Relatively good company to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Financial Analyst  in  New York, NY
    Current Employee - Financial Analyst in New York, NY

    I have been working at Banc of America Securities

    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 ManagementAdvice

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

    No opinion of CEO
  6.  

    It was a good entry level position after college, but glad I've moved on.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Financial Analyst
    Current Employee - Financial Analyst

    I have been working at Banc of America Securities

    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 ManagementAdvice

    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.

    No opinion of CEO
  7.  

    Banc of America Securities

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Investment Banking Analyst
    Former Employee - Investment Banking Analyst

    I worked at Banc of America Securities

    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 ManagementAdvice

    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.

    No opinion of CEO

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