Bank of America Reviews in Boston, MA Area

Pros

You work a nine to five so the hours are great. Good solid hourly pay plus some bonus.

Cons

It is very hard to get your bonus if your branch as a whole doesn't meet their goals. Sales never end. Everyday is a new day and you have to sell products everyday.

Advice to Senior Management

Develop more incentives

Pros

BOA is amazing with the flexible work life and work at home programs they offer. The also have all jobs posted online giving you the opportunity to easily post for them. Several recognition programs exisit and each team meeting is started with recognition to team members.

Cons

Demanding and forever changing processes. It seems as soon as they roll out a process they have a change to it.
Recently BOA has cut back on a recognition program that the employees valued due to expense reduction. Benefit offering for health care are very expensive, other employers offer the same package with out the hefty price tag offered by the bank.

Advice to Senior Management

Although changes is a constant we should evaluate our process with the mind set of less complexity in order to deliver to market faster.

Pros

Unique corporate culture, regular work hours

Cons

Promotions might be difficult and raises might not be as high as other employers

Advice to Senior Management

Better and more frequent communication of the Bank's decisions and changes would be helpful.

Pros

Anyone who works hard enough can advance quickly in the company.

Cons

In the wake of the financial crisis Bank of America was too quick to abandon its employees. On top of a hiring freeze Bank of America became very stingy with its bonuses even of those who had deserved one.

Advice to Senior Management

Recently Bank of America refocused on retaining it's customers and keeping them from walking out the door. It should invest in doing the same for its employees as the talent is leaving in record numbers because of the inadequete support from Bank. And is Starbucks has shown the business world anything it's that when you pay your employees well they will support your business.

Pros

Good benefits, Medical, Dental, Vision, 401k match, Pension, recognition for a job well done in some cases.... overall friendly place to work, easy to keep busy, and sometimes will feel like a smaller company than it actually is. Upper Management seems to care about their employees

Cons

Very big company, sometimes hard to accomplish things, sometimes because it is so big reorganizations happen all the time, sometimes the focus is not easy to determine, things can get started, and then disappear into thin air, without notice or reason to change direction.

Advice to Senior Management

more focus, less reorganizations, maintain the big company advantages, while finding more of a small company feel.

Pros

Opportunity to grow your career along with recognition for the work done.

Cons

Sometimes the size of the company can be daunting.

Advice to Senior Management

Continue to empower your employees to do the right thing.

Pros

The best reason to work for BOA is that it is a strong force in the banking world. Bank of America is not going any where.

Cons

It is often difficult to balance life outside of BOA because of how much time put into managing the centers. Management is not well compensated for this amount of time.

Advice to Senior Management

Carefully reviewing pay for performance and offer a better incentive to get best associates content. Also, a clear focus on promotion opportunites.

Pros

Pros: Benefits & job security, bonuses, big company to transfer

Cons

Cons: paid is weak unless you are in a management position or high level banded position. Too many old wood (people that stay at the same position for x number of years) whether is from merging or just didn’t want the added responsibility, BOA need to get rid of these old wood in order to keep new recruit

Advice to Senior Management

BOA need to get rid of these old wood in order to keep new recruit from leaving...

Pros

Work life balance
Benefits package
Good people
An organization that takes into consideration the needs of others. BAC has consistently allowed associates to be fliexible in terms of going for further education, some times working remotely if need be and other measures that take into account the needs of the associate.
People at the bank are nice. BAC has a good culture. The culture is not the same throughout BAC but does have a strong presence in Charlotte, CA, Florida, TX and some of the other well known AC foot print markets. The core value are critical for success but not enough to get promoted.

Cons

Darn right difficult to move up in organization
Company has a good career search tool that finally has gotten better with staff responding to inquiries. However, the down side of the response back has all been no job for you. Performance reviews have consistently been meet, meet but no career change in several years. Feel stuck. Difficult to move within an organization of a quarer of a million people without a strong, strong sponsor. Sponsor needs to be some one that cares about you and your career. Otherwise, high risk of being loss in the shuffle, especially after merger after merger.

Advice to Senior Management

Attempt to practice meritocracy

Pros

Bank of America is a very large, stable company and because of that jobs are generally secure. There are many opportunities to move into new positions and groups because of the wide variety of businesses the Bank is involved in. In addition, associates are encouraged to move around to gather new experiences which is reflected in the Bank's talent planning processes.

While pay is somewhat mediocre, the Bank's benefits package is pretty decent and covers many different aspects of the benefits equation from retirements, to better rates on Bank products. And as opposed to many companies, the benefits package seems to expand yearly rather than contracting.

Cons

Being a large company is both a positive and a negative and the same is true with Bank of America. The Bank's size leads to a ton of bureaucracy. This can be extremely frustrating and it means decisions are made slowly and via committee. Also, because the Bank believes in moving assocaites around, especially for senior executives, large organizational moves happen all the time, which disturbs work in progress and leads to constantly changing priorities. All this leads to strained communication between businesses and their management teams.

In addition, while the Bank makes lots of noise about gathering and responding to associate feedback, I'm afraid most of it is just paying lip service.

Advice to Senior Management

Find ways to cut back on bureaucracy. Get better at communicating to associates, especially at the middle manager level. Take associate feedback and do something with it, rather than having endless committees and discussions on minor details.