Bank of America Reviews in Chicago, IL

Updated October 23, 2014
Updated October 23, 2014
6,822 Reviews
3.3
6,822 Reviews
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
2,917 Ratings

Review Highlights

Pros
  • Excellent work life balance including remote work from home for certain positions (in 408 reviews)

  • They have a program called MyWork which allows you to work from home or from any location (in 218 reviews)


Cons
  • Work-life balance seems to be skewed towards work side more often than not (in 171 reviews)

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

More Highlights

174 Employee Reviews Back to all reviews

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  1.  

    Summer Analyst 2014 GBAM

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - GBAM Summer Analyst in Chicago, IL
    Former Employee - GBAM Summer Analyst in Chicago, IL

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

    Pros

    Top-quality culture; the people I worked with were of the highest caliber. Pay is very competitive, and work-life balance is stressed & acceptable.

    Cons

    Could do with more mentorship from more experienced employees. More one-on-one time to help adjust from a college mind-set to a corporate mind-set.

    Advice to ManagementAdvice

    Don't pair first year analyst interns with senior directors that don't have time or desire to develop temporary employees. The directors have much more to do than help mold us into the caliber of individual the company desires.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    the target of banks.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Personal Banker in Highland Park, IL
    Former Employee - Personal Banker in Highland Park, IL

    I worked at Bank of America full-time (more than 3 years)

    Pros

    the benifits offered such as insurance and dental are top of the line aswell as paid vacation and the oppurtunity for advancent. 2 Weeks training provided and commute to training facility can be written off.

    Cons

    a company that cares very little for its employees and has a general attitude of you dont matter. as an employee you can expect to be driven endlessly, micro managed in 15 minute increments and be given little to no respect. A very repressive environment just do as you are told you dont need to know why ect ect. False systems in place to give the false impression of employee empowerment. Constant criticism (built into manager 'roadmap') lots of terms to soften the reality of things such as 'coaching' which it literally just criticism not necesarily contructive. Policies are in an employee accessible sites but are not always observed and if an employee violates a policy write ups are issued. Mangement however is outside of the rules and do not observe the same rules and policies imposed on there employees.

    Advice to ManagementAdvice

    practise what you preach. Live by the alleged morals and slogans constantly flooding the internal e-ways. Talk is only talk.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3.  

    Long and sometimes difficult

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Teller in Chicago, IL
    Former Employee - Teller in Chicago, IL

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

    Pros

    moved around with ease. If you really want it you can move up. Culture is like high school and sometimes doesn't feel like a job. That might be a con depending on the person you are.

    Cons

    Management is highly inexperienced with poor decision making skills. Overtime is high discouraged and you will get in trouble if you have overtime.

    Advice to ManagementAdvice

    Stop micromanaging and trust your trained employees.

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    Worst company I've ever worked for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Chicago, IL
    Current Employee - Anonymous Employee in Chicago, IL

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

    Pros

    Not sure I have experienced any.

    Cons

    Everything. Low pay. Poor management. Office full of unhappy people. Management just concerned with their own advancement and could care less about supporting their subordinates. Only people who think way inside a very small box are looked at for advancement. Management dangles pay raises and bonuses in front of employees only to take them away come performance review time. Apparently this is true for at least one of the India locations as well according to one of my confidants there.

    Advice to ManagementAdvice

    Try being real managers of people instead of just managers of your own careers.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    No thought leadership, most employees in technology just staying for work from home benefits

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Technology Manager in Chicago, IL
    Current Employee - Senior Technology Manager in Chicago, IL

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

    Pros

    Work from home via the myWork program.

    Cons

    No thought leadership or visionary thinking, no culture of innovation, too much reliance on foreign workers

    Advice to ManagementAdvice

    Consider hiring fresh graduates in Computer Science from Universities within the US rather than relying on foreign workers for your IT systems. Hire the right kind of talent, people with advanced degrees who can provide thought leadership to help gain and sustain competitive advantage.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7.  

    Rewarding

    Former Employee - Personal Banker in Chicago, IL
    Former Employee - Personal Banker in Chicago, IL

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

    Pros

    Holiday pay Vacation time Great pay

    Cons

    Requesting time off is like pulling teeth

    Advice to ManagementAdvice

    Better upper management is needed

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8.  

    Good Company to work for!!!!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Officer in Chicago, IL
    Current Employee - Officer in Chicago, IL

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

    Pros

    Discounts, steady employment, challenging work

    Cons

    Some departments treat you like a child, others devalue their employees

    Advice to ManagementAdvice

    Allow more self-managed positions and remove some of the managers who do not actual involve themselves in all aspects of their department. They add no value to the department and usually are reason certain departments are having a difficult time.

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Good company, but watch for setbacks

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

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

    Pros

    Able to work remotely is a big plus. Never felt micromanaged at all. If you want a promotion, a good manager will help get you there. Manager was phenominal.

    Cons

    Lots of different and challenging areas of the bank to get answers. Mid level management was good, but doesn't appear to have the right strategy and focus in certain areas. Rarely could hire to help out expanding team in order to manage work load efficiently for our clients. Set up for failure at times. Medical insurance was decent, but not great. With so many people working for this big company, a lot of different answers (some right, some wrong).

    Advice to ManagementAdvice

    Look at ways to manage client work load better. If that means for FTE's, then hire more FTE's. Because if you don't, the bank doesn't directly suffer, the client does. And that reverberates throughout the immediate organization, and sets a bad experience for these clients.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  10.  

    Good not great

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - TSA in Chicago, IL
    Former Employee - TSA in Chicago, IL

    I worked at Bank of America as an intern (less than an year)

    Pros

    Good experience it was a pretty interesting time

    Cons

    People were not that nice

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  11.  

    Outstanding organization to invest a career...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Chicago, IL
    Current Employee - Anonymous Employee in Chicago, IL

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

    Pros

    Leadership roles, relationship building, job specific detailing at a pace you can be comfortable by. Strong proven organization that very competitive with their competition...

    Cons

    Inconsistent with departmental policies and standards...

    Advice to ManagementAdvice

    Become one big organization instead on too many silos...

    Recommends
    Positive Outlook
    Approves of CEO

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