Bank of America Reviews

Updated July 23, 2015
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3.2
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
6 Ratings

Pros
  • Flexibility - work from home program; Work Life Balance; (in 417 reviews)

  • Flexibility to work from home when needed (in 223 reviews)

Cons
  • Work/Life balance is biased towards work (in 180 reviews)

  • no work-life balance only upper management (in 184 reviews)

More Pros and Cons

16 Employee Reviews

Sort: Popular Rating Date
  1. Good if you are at senior level

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Intelligence Analyst in Irvine, CA
    Current Employee - Business Intelligence Analyst in Irvine, CA
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    They have good benefits, 12 week paternity leave, 100% 401k matching for first 5%, 2% additional matching. Very good telecommuting program.

    Cons

    There is a serious traffic jam on the corporate ladder. Don't hope too much to move up. Instead try to move up by moving around in the company. A lot of red tap, although they are trying to streamline the entire company.

    Advice to Management

    For a bank, its employees are it's assets. Don't let your assets be a drag on the balance sheet, instead nurture them and give them real opportunity. Implement a internal job portal. What we have currently seems like it's just a formality.


  2. Too Big to Care?

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Wealth Management in Irvine, CA
    Former Employee - Wealth Management in Irvine, CA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Many job categories at Bank of America which allows employees to learn new skills. Mortgage loans, retail management, investments, trusts, etc. Vacation, sick time and holidays seem to be above industry standards. Big company that is recognizable. Pay seems to be in line with industry standards.

    Cons

    With all the mergers and acquisitions there is discontent of employees from each company (Fleet Boston, Merrill Lynch, Countrywide and so on) Management has "good old boys" mentality. The company changes business models often which lead to more layoffs. Not sure if they have clear direction with a plan in place. Layoffs are done without looking at performance. Seems to be random but it is more up to manager's discretion. Years of service and loyalty is not considered when laying off employees. Unfair treatment of some employees while others are protected. Some work environments can be hostile depending on if you are working with employees from a different legacy background. (Bank of America, Fleet Boston, Merrill Lynch, Countrywide)

    Advice to Management

    Figure out a plan, stick to it and reward your loyal employees. Some employees are taking great advantage of the company and management is keeping a blind eye.


  3. Great training and profession environment to work in.

    Current Employee - Portfolio Management Officer in Irvine, CA
    Current Employee - Portfolio Management Officer in Irvine, CA
    No opinion of CEO

    Pros

    Good pay, benefits and flexibility. Lots of company resources available to help you learn and self train. Very solid corporate structure.

    Cons

    You get lost in a big corporation. Sit in front of a computer screen a lot and do repetitive work

    Advice to Management

    Make this job more rewarding


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  5. Lost in the masses

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Data Analyst in Irvine, CA
    Former Employee - Senior Data Analyst in Irvine, CA
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Stability in a massive company; Too big to fail. Ability to learn good skills and process development that can be leveraged later in your career.

    Cons

    lots of red tape. capped salary increases at promotion keeping you below market rate. inconsistency in titles and compensation across the organization. Don't recognize talent that can be utilized in other businesses.


  6. Helpful (1)

    teller

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Teller in Irvine, CA
    Current Employee - Teller in Irvine, CA
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Bank of America part-time (More than a year)

    Pros

    You have great opportunity to advance if you want to stick around in the next 3-10+ years. Like any other customer service jobs, you get to see different people and talk to them. Some of the customers are really nice and we usually had a great time talking when doing transactions

    Cons

    It really depend on the managers, if your manager is really good and knows how to be a leader, you will have a great time. However, vice versa, some of my friends left the company within 2 months because he/she couldnt stand the manager.

    Advice to Management

    more communications overall inside the bank are needed. Since the HR department is not easy to reach, managers need to be more caring to their people.


  7. Challenging organization with many process improvement opportunities bringing job satisfaction

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President in Irvine, CA
    Current Employee - Assistant Vice President in Irvine, CA
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Training, teamwork, partnership, communication and rewards

    Cons

    Not completing projects that add value to the organization

    Advice to Management

    None


  8. Unpaid Intern

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Intern - Intern in Irvine, CA
    Former Intern - Intern in Irvine, CA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great Place to start. Great connections with company.

    Cons

    No pay for interns in the department

    Advice to Management

    Pay us


  9. Former AVP/Product Marketing Manager I in Insurance Services

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Product Marketing Manager in Irvine, CA
    Former Employee - Product Marketing Manager in Irvine, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Bank of America full-time

    Pros

    Excellent compensation and benefits, great volunteer program, overall a wonderful company to work for. I wish I still worked there!

    Cons

    The company failed to effectively integrate into the Bank of America culture those companies it acquired through various buyouts. The division in which I worked bore very little resemblance to what I I was introduced to during my orientation. In fact, I found myself working with people from two different company cultures, neither of which had the sense of balance or enthusiasm that Bank of America demonstrates in its orientation training. Extremely inflexible culture within their in-house advertising agency (which originated within an East Coast bank with a far more rigid culture). I found the inflexibility and rigid demands too much and, unfortunately, lost my job. I would love to work for Band of America again, but not within one of its acquired companies!

    Advice to Management

    When acquiring companies, make it clear that they are part of Bank of America and need to adapt to BofA's culture, which stresses more balance and rewards.


  10. Good place to work while in school.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Teller in Irvine, CA
    Former Employee - Teller in Irvine, CA
    Disapproves of CEO

    Pros

    great place to work when in school because of the tuition reimbursement

    Cons

    managers are often incompetent and dont listen to lower level employees.

    Advice to Management

    Be a better leader and not just a manager.


  11. Fair and Mellow

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Operations Project Analyst in Irvine, CA
    Current Employee - Senior Operations Project Analyst in Irvine, CA
    Recommends
    Approves of CEO

    Pros

    Work experience differs greatly between Lines of Business and managers. My experiences is great with diligent and fair management and good compensation, but have heard horror stories from other employees. My Work (working from home) is a nice perk some positions can take advantage of. Make sure you get along well with your direct before getting into new positions.

    Cons

    NYSE: BAC... Facilities are uninspiriting / depressing...Old employees with grim outlook...Getting responses from employees that role up to a different management team...incompetence is ignored

    Advice to Management

    BAC is facing many headwinds but should be able to come out without too much damage. Get our Legacy Issues behind us and focus on client integration. The customer experience needs to either be segmented (like old navy, gap and banana) or standardized across all LOBs. (I.e. Merrill Private wealth clients need to know they can go into branches and be treated with the same level of service or provide that service in another location)



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