Bank of America Reviews

Updated March 25, 2015
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544 Employee Reviews

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  1. Unclear direction from senior management

    • 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

    Pros

    Flexibility and work-life balance could be really great, of course it depends on which team and supervisor you are with. Salary is average in the market.

    Cons

    Unclear direction from senior management, numbers of huge project started, sunk cost spent, and then suddenly cancelled due to insufficient budget. Ongoing layoffs still happening for years.

    Advice to ManagementAdvice

    Do have some real vision for the company instead of thinking of new names for the so-called re-engineering program, aka layoff plans.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2. Great company to grow your career

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

    I have been working at Bank of America

    Pros

    Excellent benefits...401K match, pre-paid legal services, discounts on banking services and products! Also, there are endless career opportunities for those that are willing to network and go for them. You have to be an excellent performer and the right people have to know you in order to get ahead.

    Cons

    The bank is scaling down on their work at home opportunities, so many people are being brought back into the office. This has been a killjoy for morale. There are also constant layoffs, and many people are let go only to be brought back as contractors. That's also a downer for morale as well.

    Advice to ManagementAdvice

    I would like to see management helping associates make the right connections in order to get them where they would like to go next in their careers.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  3. great

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

    I worked at Bank of America

    Pros

    great benefits love the company

    Cons

    none. no cons to speak of

    Advice to ManagementAdvice

    none

    Recommends
    Positive Outlook
    Approves of CEO
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  5. Great job mobility.

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

    I have been working at Bank of America

    Pros

    They foster creative ideas and transformational thinking.

    Cons

    Not enough resouces to execute the work.

    Recommends
    Neutral Outlook
    No opinion of CEO
  6. Good benefits, can be a great place to work - if you find the right group

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

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

    Pros

    Benefits are solid. Flexibility in moving around to find work that interests you and fits with you. Its a big company so lots of room to explore.

    Cons

    Finding a good team can be tough and once you switch jobs you have to stay in it for a year, which can suck if its not a good fit (although I understand why they do this).

    Lots of bureaucracy. Lots of regulation. Very corporate. I've never felt FULLY engaged at work. But I've also grown to accept thats probably not going to be the case for me at this company.

    Advice to ManagementAdvice

    I've seen a lot of improvement in pushing to make things simpler and easier on the employees. Continue to listen to your people as you've been doing.

    Recommends
    Positive Outlook
    No opinion of CEO
  7. Needs to get its swagger back

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

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

    Pros

    Work from home (while it lasted), decent benefits.

    Cons

    Constant lawsuits and bad press make one not want to admit to working there.

    Advice to ManagementAdvice

    Make employees proud to work there again!

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  8. Great Company

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

    I worked at Bank of America

    Pros

    Great benefits, educational tools that are avaliable to build skills for future roles within the company and beyond, kept informed about the business

    Cons

    Instability, advancement oport unity is limited unless you really know someone, salaries and bonus' have been seriously reduced over time

    Advice to ManagementAdvice

    Invest more in your people

    Recommends
    Negative Outlook
    Approves of CEO
  9. Review of Customer Systems I. T.

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

    I worked at Bank of America

    Pros

    You get to work around really smart peoples. Lot's of help with your job everywhere. Get to work remote when needed to. Flex hours but must attend meetings.

    Cons

    Very very fast paces. Must work 5 projects at a time. Always running to meetings. Meetings all day long. Dealing with folks all over the world so hours sometimes are bad.

    Advice to ManagementAdvice

    Keep your hard workers instead of laying them off.

    Recommends
    Neutral Outlook
    Approves of CEO
  10. Was ok !

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

    I worked at Bank of America as a contractor

    Pros

    No pressure, Independence at your work

    Cons

    No new opportunities, Old technologies, Bad Work from home policy

    Advice to ManagementAdvice

    Hire all contractors

    Recommends
    Negative Outlook
    Approves of CEO
  11. Lousy compensation, to many hours worked, always waiting for the next layoff.

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

    I have been working at Bank of America full-time

    Pros

    None any longer. The have taken away the home office now. Cost of benefits has risen. They were never that good anyway.

    Cons

    Since 2010 when Brian Moynihan became CEO of Bank of America, all he has done is try to cost cut his way to greatness. There have been no less that 8 lay offs since he took control. Bank of America employees get laid off and others have to pick up their workload. More and more people go, no or little new blood is infused. At lease down in the trenches that is. So here we are in 2015 and we are being told that the raises and the bonus, you know, for the "little people" making less than $150K a year, will be miniscule this year. This after the credit card division spent 3 years preparing for a conversion from an in-house mainframe to TSYS. Working countless hours, nights, weekends, for a conversion that will happen in early Feb. 2015.

    So, let's look at Mr. Moynihan's compensation for this period.

    $ .95 million salary and 10 million Bonus for 2010
    $ 1.5 million salary and 12.5 million Bonus for 2014

    The BAC share price was $15.24 the day you became CEO. What did it open at today after you announced the 2014 4th Qtr earnings? $15.60. Way to go Brian.

    Advice to ManagementAdvice

    I know this is contrary to the thin king in corporate America today but you employees are your best asset. You should take care of them. Not keep stepping on their necks.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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