Bank of America

www.bankofamerica.com

Bank of America Reviews in Charlotte, NC

Updated January 25, 2015
Updated January 25, 2015
7,413 Reviews
3.3
7,413 Reviews
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
3,165 Ratings

Review Highlights

Pros
  • Excellent work life balance including remote work from home for certain positions (in 417 reviews)

  • They have a program called MyWork which allows you to work from home or from any location (in 223 reviews)


Cons
  • Work/life balance was a little tough but you are going to get that anywhere to be honest (in 180 reviews)

  • upper management failed to listen to the lower ranks often missing oppertuinitys (in 184 reviews)

More Highlights

515 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    WORTH THE EFFORT

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

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

    Pros

    Competitive salaries AND good benefits
    Opportunities for advancement

    Cons

    Too much internal "organic right-sizing" (layoffs) that are not always public knowledge. Low morale.
    Extremely heavy workload for remaining employees in many areas due to reduced staff.

    Advice to ManagementAdvice

    Stop laying off experienced, knowledgeable workers only to have to hire them back as consultants later (without benefits). It's simply not a good business practice.

    Recommends
    Neutral Outlook
    Disapproves of CEO
  2.  

    Ugh, I can't even talk about it.

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

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

    Pros

    Benefits are fantastic, with 12 weeks maternity leave, decent 401k match.

    Cons

    I did about 3 people's jobs and wasn't given a raise or a promotion. People I know left the bank for the same reason. You job role will change or they will make you do things far above your pay grade, but when you do it, you're not given compensation fairly, and 9/10 times, they will make sure you don't meet expectations so that they keep you with your knowledge where you are. I don't feel valued or appreciated as an employee, and while it's a good job out of school, I think it's very frustrating sometimes. Culture is cut throat in some parts of the bank, while laid back in others, so inconsistent.

    Advice to ManagementAdvice

    play people to their strengths and don't hold people back, or they will leave the company for far better things elsewhere.

    Doesn't Recommend
    Neutral Outlook
  3.  

    Instability

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

    I worked at Bank of America full-time (more than 10 years)

    Pros

    Good benefits although declining in coverage options and increasing in costs in recent years. Compensation is slightly above average. Depending upon direct supervisor, flexible working conditions. Great place to meet people and network. Collaborative environment with opportunity for exposure to different levels of the organization. Ability to take on new responsibilities and gain new skills. Wide variety of opportunities available.

    Cons

    Constantly changing environment. Layoffs occur continuously and without a consistent plan. Heavy workload that is increasing as layoffs continue. Work/Life balance has become less of a priority as employees are asked to do more with fewer resources both people and funding. Many senior executives are only interested in building their own fiefdom and advancing their own career at the expense of those that work for them.

    Advice to ManagementAdvice

    Stop the constant churn, select a strategy and stick to it. Actually conduct strategic planning, planning for next year is NOT strategic planning.

    Recommends
    Neutral Outlook
    Approves of CEO
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  5.  

    Downward Spiral

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

    I have been working at Bank of America full-time

    Pros

    Benefits and time off are decent.

    Cons

    Company offered work from home program then took it away. Too much division/manager discretion on employee management and not enough backbone from HR. The Bank has also been in a downward employee satisfaction spiral since the economic crisis and has been cutting employee perks ever since. The company has also cut out all non-essential travel so there is no opportunity to further develop business partner relationships and/or support on-site LOB testing. Many full time jobs are not being back-filled and/or are contractor filled only. Constant training of the revolving door of contractors is a huge waste of time.

    Doesn't Recommend
    Negative Outlook
  6. 1 person found this helpful  

    Not as good a place to work as it use to be

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

    I worked at Bank of America full-time (more than 10 years)

    Pros

    The company offers great benefits and practice work life balance.

    Cons

    Always on edge wondering if you are going to be laid off.

    Advice to ManagementAdvice

    Figure how to make the culture like it was in the late 90's and early 2000's. Employees felt valued and appreciated.

    Recommends
    Neutral Outlook
    No opinion of CEO
  7.  

    Alright, nothing special.

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

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

    Pros

    -Bank holidays
    -Benefits
    -There are still bank bonuses, though smaller than they used to be
    -Flexibility

    Cons

    -People just seem to be keeping their heads down trying not to upset the ship. Used to feel like a truly innovative place to work but no longer feels that way.
    -Feel like there are a lot of disgruntled employees

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  8.  

    Typical experience for a large corporation

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    Former Employee - Operational Risk Manager in Charlotte, NC
    Former Employee - Operational Risk Manager in Charlotte, NC

    I worked at Bank of America full-time (more than 10 years)

    Pros

    Lots of different roles to take advantage of. At lower levels, lots of opportunities to make a name for yourself. In any given role, if you're in, you're good. If you screw up or tick someone off, you will have to work really hard to roll the boulder back up the mountain.

    Cons

    Limiting your availability can also limit your ability to move no matter how great your accomplishments. Expectations exist in most areas that employees are actively available as needs arise or email responses are requested. Trying to prioritize and get work done can be difficult in this kind of environment. Organizations are constantly changing management or structure so it's not unusual to have multiple successive managers while in the same role. It is also not unusual in the midst of organizational changes for priorities to change and current accomplishments to be wiped away by the goals of the new management.

    Advice to ManagementAdvice

    Really start thinking about how to make room for your next generation of leaders. Let the strengths of your people guide you in talent planning for those below the executive level so you find the right person for the right role in addition to determining where to spend your development money. Take time from the top down to demonstrate a personal interest in the lives of those who work for you - not just an interest by policy mandate and marketing message.

    Doesn't Recommend
    Neutral Outlook
  9.  

    Everything is a fire drill

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

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

    Pros

    Competitive salaries and exceptional benefits

    Cons

    Lack of organization, quality of work trumped by speed of delivery, I want this "yesterday" attitude

    Advice to ManagementAdvice

    Trust more in your employees and remove top-down style that prevents intelligent folks from delivering top-notch solutions

    Recommends
    Neutral Outlook
    Approves of CEO
  10.  

    Learning and Development Consultant III

    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - L&D Consultant III in Charlotte, NC
    Current Employee - L&D Consultant III in Charlotte, NC

    I have been working at Bank of America full-time (more than 8 years)

    Pros

    Very interesting work, interact with many lines of business and people.

    Cons

    Low pay. Too many changes in strategy. Little job protection.

    Advice to ManagementAdvice

    Stick to a plan. Stop the layoffs. Compensate better.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11.  

    .Excellent working environment and a great Team Spirit atmosphere. I would definitely work for Bank of America is asked

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

    I worked at Bank of America full-time (more than an year)

    Pros

    The work is challenging and rewarding and definitely challenges your skill set in a positive way. The Learning Center is a super way to keep you on yours toes.

    Cons

    Sometimes you may be placed on projects of which you have no knowledge or experience and be expected to walk in and figure it out with little to no training. In that situation you are no doubt set up to fail.

    Advice to ManagementAdvice

    Know the consultants Skill Set and assign tasks according to knowledge and experience.

    Recommends
    Positive Outlook
    Approves of CEO

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