Bank of America Reviews

Updated July 31, 2015
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
186 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

466 Employee Reviews

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  1. Helpful (1)

    Great place with confused values

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Banking Developer in New York, NY
    Former Employee - Investment Banking Developer in New York, NY

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Work from home when needed; Great computer architecture; Moving to Python and sharing code. Very siloed. Hard to learn new technologies since we specialize in only certain parts of the development life cycle. Great teamwork and generally friendly culture inherited from Charlotte.

    Cons

    Politics of promoting based on race/ethnicity rather than meritocracy. Lots of bureaucracy though getting better. Public relations disaster when BofA spearheaded charging fees for those checking accounts with a small balance.

    Advice to Management

    It's ironic that we do so many charitable events yet we spearheaded charging fees for those checking accounts with a small balance. Those are the poor people who we say we support so much. Get your values straight. It could have been a great PR win to not be following the herd and to look out for the poor people. We would have had great PR and have done our charity at the same time.


  2. Headed in the right direction

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Intern - Analyst in New York, NY
    Current Intern - Analyst in New York, NY

    I have been working at Bank of America as an intern

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    - Reasonable hours for financial service industry - Top five investment bank - Moynihan is focused on providing the best services to his client - Good pay

    Cons

    - Currently the firm is in the middle of a huge cost cutting program that will lead to many layoffs in the coming years - You need to choose an area to specialize in early in your career to move up. Horizontal mobility within the company is extremely limited

    Advice to Management

    Upper management is trying extremely hard to create a new culture within the firm that is focused on doing what is best for the end customer/client. However, individuals lower in the company who embrace the new culture are rarely recognized and there is a lot of pressure to meet sales/revenue goals in departments.


  3. OK place to work

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

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

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    Good people, everything is new in the office, centrally located, decent benefits at the bank, great place to be a customer

    Cons

    Health insurance is not great (high deductible), brand not great internally, over worked/under appreciated, not enough networking events within the company or even within departments

    Advice to Management

    More networking events, and make people go when you have them


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  5. Good Trading Floor

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales & Trading Analyst in New York, NY
    Former Employee - Sales & Trading Analyst in New York, NY

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Fast-paced trading floor environment. Many resources available to increase knowledge. Friendly co-workers. Surrounded by intelligent individuals that are willing to teach and mentor.

    Cons

    Poor recognition of hard work, which leads to many refusing to go above and beyond. Emphasis on getting a task done the old-school way - "if it's not broke, don't fix it" mentality.

    Advice to Management

    Trading floor is run decently, but it would make more sense to re-think the way things are done and reward creativity in the rapidly changing world we live in today.


  6. Helpful (1)

    Low stress job for the most part

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President Senior Auditor I in New York, NY
    Current Employee - Assistant Vice President Senior Auditor I in New York, NY

    I have been working at Bank of America

    Recommends
    Neutral Outlook
    Recommends
    Neutral Outlook

    Pros

    This is probably one of the most low stress audit jobs you can find

    Cons

    Low pay, it is essential to jump to this company rather than be a loyal employee for a measly 7% promotion every other year

    Advice to Management

    Promote loyal employees with marketable pay raises. This way you will maintain relationships that auditors have with the business and retain trained employees. In this way the bank can be the company that is different from the others.


  7. I dont know

    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY

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

    Pros

    They will hire you probably

    Cons

    They might not hire you

    Advice to Management

    Give me more money please


  8. Poor management and too much red tape

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President - Corporate Treasury in New York, NY
    Current Employee - Assistant Vice President - Corporate Treasury in New York, NY

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

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    A lot of mobility possibilities but they will never pay market value.

    Cons

    Terrible pay, poor middle management, poor infrastructure and technology, the past mergers of the firm have divided the employees and management. All parts of the bank are becoming Charlotte centered aside from the sales and trading.

    Advice to Management

    Invest in your people and technology. Invest in hiring the right managers and invest in training. Stop adding layers of management that seemingly do nothing like New Chief Administrative Officer role just created.


  9. Great People to work for, bad benefits

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

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

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Smart and talented indiividuals. Spend on good technology and tools. Great managers when you are lucky.

    Cons

    Bad benefits, low bonuses, pay is on the low spectrum.


  10. Excelent

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Freelancer - Vice President Engineering in New York, NY
    Former Freelancer - Vice President Engineering in New York, NY

    I worked at Bank of America (More than a year)

    Pros

    Good work environment, work life balance.

    Cons

    None that I know. I had a work team and management was excellent.


  11. Administrative Assistant III

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Administrative Assistant III in New York, NY
    Current Employee - Administrative Assistant III in New York, NY

    I have been working at Bank of America full-time (More than 3 years)

    Recommends
    Neutral Outlook
    Recommends
    Neutral Outlook

    Pros

    Company has great employee benefits such as training, mobility, education, health, and philanthropy events.

    Cons

    A constant rotation of managers due to xyz reasons, as an Admin Assistant III your direct manager(s) may change routinely.

    Advice to Management

    In the administrative assistant supporting role, constancy is key to relationship building and longevity. Should strive to building relationship with supporting team to strengthen employee production and provide constancy.



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