Bank of America

www.bankofamerica.com
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Bank of America Reviews

Updated March 5, 2015
Updated March 5, 2015
7,797 Reviews
3.3
7,797 Reviews
Rating Trends

Recommend to a friend
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
3,330 Ratings

Review Highlights

Pros
  • Excellent work life balance including remote work from home for certain positions (in 417 reviews)

  • They have a program called MyWork which allows you to work from home or from any location (in 223 reviews)


Cons
  • Work/life balance was a little tough but you are going to get that anywhere to be honest (in 180 reviews)

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

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    Getting Stronger

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President
    Current Employee - Vice President

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

    Pros

    Competitive products for clients, very open to using technology to improve associates job processes as well as client accessibility

    Cons

    Consumer LOB is still focused on widget pushing. They are not given any business acumen to allow them to see the why behind what they are supposed to be doing. This is a direct reflection of their middle management.

    Advice to ManagementAdvice

    Spend time developing talent within the Consumer LOB instead of hiring ex-retail employees with no college education. Customers expect the people who handle their money to have some idea of what is happening in the business world not to just spout the lines they have been given. When the consumer segment is elevated to the level of the rest of the company, it will be unstoppable.

    Recommends
    Positive Outlook
    Approves of CEO
  2. 8 people found this helpful  

    Company Struggles Painful for Staff

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Vice President in Los Angeles, CA
    Current Employee - Senior Vice President in Los Angeles, CA

    I have been working at Bank of America full-time (more than 10 years)

    Pros

    Great benefits
    Good tech support
    Smart people

    Cons

    Extremely stressful environment. Constant fear of layoffs is exhausting the staff. Management is constantly re-organizing groups and laying people without adjusting the workload of the survivors.

    Advice to ManagementAdvice

    Please consider the human impact of constant reorganization. We feel like we are starting over and over every three months.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  3. 4 people found this helpful  

    Great Workplace

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

    I have been working at Bank of America

    Pros

    Work from home, outstanding team members, family oriented, family focused, work life balance, community service oriented, product perks, vacation time (20 days), all the benefits, great place to work.

    Cons

    Layoffs of top talented coworkers, salary is not comparable to market value, but great place to work.

    Recommends
    Neutral Outlook
    Approves of CEO
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  5. 4 people found this helpful  

    Awesome Place To Work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - UAT QA in Simi Valley, CA
    Current Employee - UAT QA in Simi Valley, CA

    I have been working at Bank of America

    Pros

    some departments allow you to work from home
    great rates for contractors
    pro work/life balance

    Cons

    Layoffs come quick without any prior notice

    Advice to ManagementAdvice

    Be more open to everyone
    Have a ascension program for talent that want to get ahead

    Recommends
    Positive Outlook
    Approves of CEO
  6. 3 people found this helpful  

    Bank of America exceeded all initial expectations for me.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Manager in Agoura Hills, CA
    Current Employee - Manager in Agoura Hills, CA

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

    Pros

    Great culture of professionalism, great benefits, honest focus on employee personal growth.

    Cons

    1) Unfortunately the burden of the Countrywide acquisition creates a cloud over the future of many in the Mortgage Technology division. It is the only division losing money due to repeated DOJ shakedowns and naturally a company must answer to its shareholders to become lean and profitable.

    2) Processes are being written constantly. Often without full consideration for the impact of changes and the interference with other other processes. Release management in Mortgage Technology is the definitive example of this.

    Advice to ManagementAdvice

    Maybe not fair to say but, last restructuring layoff decisions stopped short of the actual comparative value of the individual who was cut.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  7. 2 people found this helpful  

    Business Support

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Bank of America

    Pros

    competitive benefits, varied opportunities for lateral movement, some really great leaders, competitive salaries

    Cons

    tolerance for very unprofessional senior leaders who can't / don't walk the talk. Discontinued some flexible work programs instead of tailoring them.

    Advice to ManagementAdvice

    reinforce and mirror company core values

    Recommends
    Neutral Outlook
    Approves of CEO
  8. 1 person found this helpful  

    Great place to work!! Equal opportunity employer. Very fair. Always provided bonus even during 2008-2010 time frame.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Bank of America

    Pros

    Excellent management team. Very resourceful. Great tuition reimbursement program. Excellent benefits. Great first job experience.

    Cons

    I didn't think there were very many cons. Work hours may be. Goals were stretched and re structured more often then required.

    Recommends
    Negative Outlook
    Approves of CEO
  9. 1 person found this helpful  

    Good company - large bureaucracy slows down work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Manager in Agoura Hills, CA
    Former Employee - Manager in Agoura Hills, CA

    I worked at Bank of America

    Pros

    Good facilities and benefits.
    Management is focused on success and achieving goals
    Co-workers have good attitude and work well together

    Cons

    Constant lay offs create a "fear" environment
    Annual salary increases are small
    Difficult to move up within department. Most co-workers recommended I move departments in order to get promoted.

    Advice to ManagementAdvice

    Some strategies are not communicated well to the staff. Difficult to prioritize work unless we understand the strategies.

    Recommends
    Neutral Outlook
    Approves of CEO
  10.  

    Excellent experience!

    • Comp & Benefits
    • Work/Life Balance
    • Culture & Values
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Bank of America part-time (more than 8 years)

    Pros

    I worked for DOD Community bank Operated by BOA in the Military Overseas Division. I had the opportunity to travel around Europe and gain exposure to the international finance market. The experience with international currencies and the military environment was absolutely invaluable. The benefits were amazing! Small work force, intimate work environment.

    Cons

    Limited ability to advance. Due to the small work force.

    Recommends
  11.  

    Love working here, am valued and have opportunities for incentives

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Customer Service Representative
    Current Employee - Customer Service Representative

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

    Pros

    Great place for part-time work with full benefits for families!

    Cons

    Customer service can be challenging in any environment

    Recommends
    Positive Outlook
    Approves of CEO

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