Bank of America Reviews in New York City, NY Area

Pros

Benefits, Salary and Overall Compensation.

Cons

It's all BOA and no work life balance.

Advice to Senior Management

Think about your associates, they are the ones driving your business and bonus.

Pros

great opportunity to grow if you work hard and make the right contacts

Cons

you may get lost in the company

Advice to Senior Management

take feedback from staff to upper management

Pros

good benefit, flexible hours, easy to move up...

Cons

micro management...if u have bad am or manager

Pros

The interview process was fairly simple. I had a phone interview and spoke with a group of maybe three or four people. They asked about my background. All of the questions for either fairly general or related to my prior experinece. Almost right away I was asked to come in for a second interview that lasted at most an hour. They showed me the office and sked me a few more questions

Cons

Salary might be too low.

Pros

It is a good advantage to have a good company name in your resume, if you are looking for the job in the same field.

Cons

Salary raise is not for the annual review. It is at least 15 months to 18 months. The rate is very low.

Advice to Senior Management

Please don't ask for an associate to contribute the gifts and money in Christmax for some charities. Their salary are very low already.

Pros

Good social environment.
Very competitive salary and bonus package.
Generous vacation, 401k, pension, medical plans.
Very stable company with stable job.

Cons

Upward mobility is limited.
Application of new technology is surrounded by red tape which would take months to implement.
Infrastructure team is clueless.

Advice to Senior Management

Needs to empower employees to submit their idea and put into action. Needs more transparency between higher managements and employees.

Pros

My work associate program is one of the best reasons to work for Bank of America for employees who reside at a distance to phyisical work location.

Cons

The over all pay package in Bank of America is very disappointing compared to the other banks who are in the similar line of business.

Advice to Senior Management

The senior management should always value the associates working under them in their respective programs and also should make sure that the assoicates are payed in line with the market conditions.

Pros

Great Benefits, good discounts, generous vacation and sick days; hours are decent

Cons

Compensation is way below par; senior management is incompetent and out of touch with reality. Policies and procedures are exhaustive; minimal room for advancement; technology is antiquated - some depts still have DOS based systems that they decided to keep when they acquired from Countrywide.

Advice to Senior Management

Stop with the incessant policy changes; the exhaustive internal audits designed to berate and demoralize employees and allow employees to do thire jobs, exercise critical thinking and make decisions based on the skill set you hired them for.

Pros

Several divisions and several businesses. Its not easy to move around but its not frowned upon. People move from one role to another all the time. Most people who are there seem to like it for a long time. Good benefits and paid time off.

Cons

Lot of bureaucracy. Hiring decisions take a long time and every decision goes through several layers before getting approved. Lot of unnecessary and inefficient processes. Mgmt keeps changing and with them new projects which may or may be very cost effective and relevant.

Advice to Senior Management

Need to efficient and reduce the unnecessary work done by associates.

Pros

In the begining when you start to work may looks normal apparently. The pay is ok between $15-25 per hour.

Cons

Dont work on Home loans/HSS/ Set up/ Processing?:
I will NOT recommend anybody to applying for this position. It is a Horrible/Savage work envirment place to work. You will fill that you are going to a boot camp every day instead going to work for living and supporting your family.

This place is a place of WAR constantly working with ignorants/ arrogants/and selfish people.
Anybody who works there should find another place, quit before they will get on to you and FIRE you for nothing.
The really good and hardworking peple are leaving. I know because I was there, and I am talking about TOP people like Loan Officers. Some underwriters and some HSS, who ever left they are VERY smart to leave this deparment.
This is such a BOB TIME of work enviroment!!! I wont recomend to no one. Beleive me if you will you will regret the day you were born!!!

Advice to Senior Management

Management you should look back and check your employees and temps performance closely and accuratelly. Dont focus on your own gratification: ME, ME and but ME!!! Trying to be the TOP performance deparment but acutally your deparment is collapsing!!! When you figure out all employees are walking away from your deparment. This is a shame on you.