Bank of America Reviews

Updated March 30, 2015
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3.3
546 Reviews
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
3,416 Ratings

546 Employee Reviews

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  1. Good working environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Analyst in Charlotte, NC
    Current Employee - Analyst in Charlotte, NC

    I have been working at Bank of America

    Pros

    full-line business means many opportunities across different functions`

    Cons

    huge org, takes long to climb the ladder

    Recommends
    Positive Outlook
    No opinion of CEO
  2. Good place to work, if you can stay employed, which is unlikely.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Consult: Applications Prog in Charlotte, NC
    Former Employee - Consult: Applications Prog in Charlotte, NC

    I worked at Bank of America

    Pros

    Good benefits. Ability to volunteer for community service. If you get in a with a good group, you may have the opportunity to learn new technologies, but that is rare. The MyWork program was great, allowing flexible working arrangements, like working from home. This is great when you are providing technical production support, and need to be connected to the bank network at 2am.

    Cons

    Always....Always worrying about layoffs that seem constant and random. In 5 years at the bank as a developer, I had 6 different manager. Re-orgs are constant. The last manager who laid me off, was my manager for less then a month, had never met with me one on one, and had only a vague idea of the work I did. The staff is constantly on edge and nervous. It's no way to run a business. I watched the group I was a part of, go from a team 6 to just myself in the course of a year and a half. All the problems that the group was created for, still existed, but I was unable to carry the work of a team of 6, so the problems were just swept aside and ignored. The bank is so large, your job in technology is basically an assembly line job. No creativity, changes are resisted, managers don't care about ideas, they just want the assembly line to continue moving and their metrics to remain green. The phasing out of the MyWork program is detrimental to keeping the best staff.

    Advice to ManagementAdvice

    Stop the constant re-org to justify some new executive's ego. Your technology staff is scared. The best ones realize the situation and leave the bank for more stable opportunities. Those that are left...not the best. And your defect rate reflects it.

    Recommends
    Negative Outlook
    Disapproves of CEO
  3. 1 person found this helpful

    Great place to work if you can live with employment uncertainty.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Analyst in Charlotte, NC
    Current Employee - Business Analyst in Charlotte, NC

    I have been working at Bank of America

    Pros

    Competitive pay and good benefits including health insurance, pension, paid time off, charitable contributions matching program.

    Cons

    Uncertain employment environment in which the company has frequent reorgs (avg of 1/yr in my space) with no apparent employer to employee commitment, regardless of the employees ability and commitment.

    Advice to ManagementAdvice

    Develop a work atmosphere in which employees are utilized, perhaps repurposed, in the company's reorgs rather than the widespread layoffs that are commonplace. Become a company that is known for employer-employee loyalty, even if shareholders do not earn as high of profits.

    Recommends
    Neutral Outlook
    Approves of CEO
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  5. quantitative analyst in CLT

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Quantitative Finance Analyst in Charlotte, NC
    Current Employee - Quantitative Finance Analyst in Charlotte, NC

    I have been working at Bank of America full-time (more than 3 years)

    Pros

    work/life balance is fantastic, great to be in the middle of BAC headquarters, smart colleagues, CLT is great

    Cons

    overwhelming amounts of bureaucracy, pigeon-holed into a specialty so one doesn't get a broad perspective of the bank

    Advice to ManagementAdvice

    reduce the number and complexity of the hierarchy

    Recommends
    Positive Outlook
    Approves of CEO
  6. Summer Associate

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Intern - Summer Associate - Graduate Leadership Development Program in Charlotte, NC
    Current Intern - Summer Associate - Graduate Leadership Development Program in Charlotte, NC

    I have been working at Bank of America as an intern (less than a year)

    Pros

    Patient managers who are willing to guide you throughout the summer

    Cons

    Opportunities to work with other Lines of Business at the bank

    Advice to ManagementAdvice

    Make internships for graduate students more cross-functional

    Recommends
    Positive Outlook
    Approves of CEO
  7. Too many managers, not enough workers.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Global Human Resources in Charlotte, NC
    Current Employee - Global Human Resources in Charlotte, NC

    I have been working at Bank of America full-time (more than 5 years)

    Pros

    Benefits are good. Work location is fine.

    Cons

    Managers don't manage. No communication between LOB leadership team and worker level employees.

    Advice to ManagementAdvice

    Note that some areas within LOB have too many managers and not enough workers.

    Doesn't Recommend
    Neutral Outlook
  8. 1 person found this helpful

    Bank of America technology

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President Technology in Charlotte, NC
    Current Employee - Vice President Technology in Charlotte, NC

    I have been working at Bank of America full-time (more than 10 years)

    Pros

    Lots of change to build experience. Learn how to build resilient apps

    Cons

    They do not treat people well at all. If you worked for lehmans you have a pass

    Advice to ManagementAdvice

    Care for the people. They run their folks through the ringer. Lots of execs who dont care for any of their talent

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  9. All in all I've had a pretty good experience working for Bank of America.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vendor Manager in Charlotte, NC
    Current Employee - Vendor Manager in Charlotte, NC

    I have been working at Bank of America

    Pros

    Great benefits. A lot of different job opportunities.

    Cons

    Depending on the line of business you are in moving up in the company is difficult. Pay for a new position is based on your prior pay and capped at a certain percentage, not on the job you are actually doing.

    Advice to ManagementAdvice

    Pay based on current position.

    Recommends
    Positive Outlook
    Approves of CEO
  10. Perfect home for underachievers who don't want to think.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President in Charlotte, NC
    Former Employee - Vice President in Charlotte, NC

    I worked at Bank of America full-time (more than 5 years)

    Pros

    Pretty easy to get by doing the bare minimum as exceeding that is not encouraged or rewarded.
    They will pay you on time.

    Cons

    Lies at every turn if you question anything you are reprimanded and punished.
    People in management who have no business knowledge.
    Insulting Compensation

    Advice to ManagementAdvice

    Hire people who know what they are doing rather than those who know how to kiss up to the right people. In a sinking ship egos are fragile and those who know how to massage them and regurgitate corporate sunshine messaging are those in leadership roles. This is why the company is failing. Reality should not be ignored and painting a pretty picture is not effective business management. Your sunshine singers will just leave for bigger paychecks once they've gotten that fancy title and your real workers will remain miserable until they eventually leave too. Reward everyone fairly and you will see improvement in output.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11. 1 person found this helpful

    LARGE Corporate Environment - Constantly Improving

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Product Specialist in Charlotte, NC
    Current Employee - Product Specialist in Charlotte, NC

    I have been working at Bank of America full-time (more than 10 years)

    Pros

    Company always tries to address concerns, improve processes. Charlotte headquarters has very bright, hard-working associates.

    Cons

    Sometimes getting to the "right" person or group to get things changed is a challenge. Best to work within a team that has a direct channel/rapport with high-level upper management.

    Advice to ManagementAdvice

    Clearing expectations and providing feedback is always appreciated.

    Recommends
    Positive Outlook
    Approves of CEO

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