Bank of America Reviews in Hartford, CT Area

Pros

- great work life balance
- staff is friendly and helpful with a handful of exceptions
- always pushing new technology

Cons

- constant reorganization and department name changes
- some people don't move on , making opportunity in some areas harder to get.

Advice to Senior Management

reward the top performers - looks like bonuses are awarded in an unequal fashion.

Pros

Benefits and opportunity to enhance your resume to move a new professional opportunity in other organization.

Cons

Lack of knowledges for management team
Policies and regulations

Pros

BofA offers great benefits. 100% match up to 5% of salary for 401k contributions, they contribute a set percentage of your salary to a pension as well (for me this if 4%). Anywhere from 3-5 weeks of vacation time plus 10 sick days and 10 bank holidays.

Cons

there is a lack of work life balance!!!

Advice to Senior Management

People need to have a work life balance in order to perform to their full potential!

Pros

This company offers competitive salaries to Client Managers who are doing well. Company benefits are second to none compared to competitors.

Cons

Management was poor. Some client managers get assigned to territories where they can hardly make a sale, and yet are expected to perform at the same level with others in more affluent territories.

Advice to Senior Management

Introduce some fairness in the assignment of territories. Shuffle client managers from time to time to ensure fairness. Listen to your employees and help resolve their concerns - They're not just a number in a million; they're also humans!

Pros

Bank of America does offer good medical benefits as well as tuition re-embursement. In my position, I get 3 weeks of paid vacation per year.

Cons

The base pay is less than desireable, the training programs and continual education is not where it should be.

Advice to Senior Management

I would say that it is important for there to be more rapid changes based on the feedback in the associate survey.

Pros

Company is good at being a corporation.

Cons

Not a good company to work for because they are so unfair to both their customers and their employees.

Advice to Senior Management

The market realized your faults and the company needs to realize the same mistakes. Treat your employees better and the customers better.

Pros

Good to have on your resume, growth available

Cons

Pay is not competitive

Personal bankers do not have series 6, 63, or health insurance. if you left as a PB, you might have difficulty getting anohter PB position because competitve banks (CHASE) have their PB's licensed.

PB's typically have a low salary, 33,000-36,000
you have to make your money on the commission, which is harder because you don't have your series 6! you dont get anything for referring for mortgages or financial advisors.

So you're limited in your sales. Management positions are seemilingly boring. you have to deal with the tellers crap, and push the PB to make sales. You're usually not in charge of many people so i'm not sure how much you'll enjoy your job. It's very difficult to get promoted to a district manager, that's where you'll see the real money though, but other bank's district managers make more.

People get very lazy at this bank, and the customer's suffer through it.

Advice to Senior Management

Set a better example for your workers

Pros

they give you pretty good benefits but are a big company and moving up is the same as in any other big company - it is not easy.

Cons

it is difficult to get promoted and you often work in a very high volume environment. if you are looking to get promoted to a higher level you really need to spend too much time there. nobody really cares if you have college or not, you need to go over the regular ropes

Advice to Senior Management

wake up! if you are getting out of college and already work there it should mean something!

Pros

If you really want it, you can move up in the company, but it isn't necessarily all based on your job abilities. With such a big company, there are always different areas available to work in, or move to. They treat part time employees well.

Cons

It is a large company, and all the parts don't necessarily work together as a whole. With everything constantly changing, it can be hard to keep up with all the necessary changes. The right manager is required to really get the job done, and if you don't have that, then you won't have a lot of support.

Advice to Senior Management

Be appreciative of your colleagues on the front lines.

Pros

The opportunity to work part-time (20 hours) and receive full benefits, including vacation. There is also a lot of opportunity and encouragement to advance within banking center and throughout the organization.

Cons

The biggest downside is the low financial compensation, especially at the lowest level position. As a bank teller there have been no raises for the last three years, while each year the contributions for health benefit premiums have been raised resulting in a net reduction in pay. The quarterly incentive bonus program is supposed to be performance based, but lacks any clarity as to the specific financial reward for outstanding performance. In addition, one-half of the bonus comes from an obscure rating for your banking center almost entirely out of the teller's control. As an example, after being transferred from a so-call "low performing" banking center to one of the top centers in the market (and with high points in all categories) my bonus went down from $135 to $127. In other words, you have no idea what reward your working toward.

Advice to Senior Management

During orientation for becoming a Bank of America employee, we was told how much we were valued. It was also stressed that there was 360 degree, meaning feedback was encouraged from tellers to every level of management. That philosophy has not been shown through deeds and actions. In fact, feedback and opinions are ignored and it's been made clear we can be replaced with ease. I suggest senior management treat all employees like they an important part of their company.