Bank of America
3.2 of 5 5,994 reviews
www.bankofamerica.com Charlotte, NC 5000+ Employees

Bank of America Reviews in Charlotte, NC

Updated Jul 8, 2014
All Employees Current Employees Only

3.4 425 reviews

                             

75% Approve of the CEO

Bank of America President & CEO Brian T. Moynihan

Brian T. Moynihan

(204 ratings)

69% of employees recommend this company to a friend
425 Employee Reviews Back to all reviews
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    1 person found this helpful  

    Great People, but hard to get full time employment if contracting

    Data Analyst (Former Employee)
    Charlotte, NC

    ProsThe pay rate is good a little better than other banks. Managers are friendly and they try to give you everything you need to get the job done that you are requested to do.

    ConsWorking as a contractor for years on and off because of the 'no more than 18 months contractor then layoff for 6 months to reset you back to another 18 month contractor', It's hard to get a full time position. They like to hire more from colleges then experienced contractors, because it saves them money. Contractors make a little more starting then a new college grad, but it's only temp and no benefits so they continue to add contractors instead of hiring them at the end of the contract period.

    Advice to Senior ManagementGive your contractors a good chance to be part of your business, with our experience and the need you have, you should be more open to them and less on hiring new people fresh out of college who normally leave for another position. That is why you call us back because they don't have the experience you need to keep your bank running and growing smoothly. Give everyone Contractors and College Grads the same consideration for jobs and advancement, don't just think of the bottom line at the moment look at the future and how you can grow.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    2 people found this helpful  

    Love working at "The Bank"

    Vice President, Senior Applications PROG Manager (Former Employee)
    Charlotte, NC

    ProsThere are many opportunities to move around and advance within the lower bands. Great vacation (4 weeks!). Flexibility to work from home when needed.

    ConsVery difficult to get a band 4 and then when you do, it puts a target on your back when layoffs come. Health benefits are very, very expensive. Senior executives are brought in from outside the bank and then they bring folks from their old jobs rather than promoting from within

    Advice to Senior ManagementHow do you expect to groom your next gen leaders when the focus is to cut based on band rather than on talent??

    Yes, I would recommend this company to a friend

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    Great company to work for

    Vice President (Former Employee)
    Charlotte, NC

    ProsGreat work environment
    Benefits are great for people with family and for working and expecting mothers
    Hard work is recognized

    ConsIt is not easy to change jobs within a department.

    Yes, I would recommend this company to a friend

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    • Culture & Values
           
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    Great growth and flexibility

    Senior Vice President (Current Employee)
    Charlotte, NC

    ProsWorking at such a large institution offers opportunities to be involved in many different areas, the culture embraces flexibility such as working from home But demands results.

    ConsCost pressures mean pay increases are minimal and the amount of work expected is well above Average - although the flexibility means that work can often be done at a time and location of your choosing ( instead of working late at the office sign on after the kids have gone to bed and finish things up thaT night at home)

    Yes, I would recommend this company to a friend

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    great learning experience

    Manager (Former Employee)
    Charlotte, NC

    Proslarge company with opportunities and good benefits

    Consoften impersonal because the company is so big

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Overall a good place to work, but definitely some headache spots.

    Senior Vice President (Current Employee)
    Charlotte, NC

    ProsGreat policies for work life balance. Some teams/managers are more supportive of these policies than others.
    Pay is good, but can be VERY inconsistent for people performing the same job.

    ConsLayoffs are seen every year, sometimes multiple times. Many times, good people are caught up in the layoffs, while others that aren't as strong survive. Layoffs sometimes appear to target associates with a long tenure or 20 years or more.

    Yes, I would recommend this company to a friend

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    Great

    Operations Project Manager (Current Employee)
    Charlotte, NC

    ProsExcellent Communication from Leadership, great benefits

    ConsLife work balance can sometimes be over bearing.

    Advice to Senior ManagementNA

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Various positions of short duration

    Paralegal III (Former Employee)
    Charlotte, NC

    ProsAbility to apply skills to demands of the position

    ConsLack of promotion opportunities for entry level employees or more senior employees.

    Advice to Senior ManagementManage the talent of employees to the changing needs of the regulatory environment. Improve the match between skill assets and job openings to enhance satisfaction of both bank and employee.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    A VERY large company. Experiences can vary widely by line of business and manager.

    Director (Former Employee)
    Charlotte, NC

    ProsSolid company, good benefits, can get good experience, particularly as a young person.

    ConsReorganizations and realignments are almost constant, leading to frequent changes in senior managers and their teams, as new managers want to appoint new leadership teams to demonstrate change. Actions do not always follow the company's stated values. HR is focused much more on supporting the will of managers than on doing the right thing for employees.

    Advice to Senior ManagementIncreased regulation has led to too much focus on risk management and control, making decision times and process too slow. If this trend continues, the company will have difficulty capturing business opportunities.

    Yes, I would recommend this company to a friend

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    Big Company

    Senior Manager (Current Employee)
    Charlotte, NC

    ProsGood work-life balance; growth opportunities are (just) okay

    ConsVery little pay increases, if you are lucky. Bonuses are a joke;

    No, I would not recommend this company to a friend

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