Bank of America

www.bankofamerica.com

Bank of America Reviews

Updated January 27, 2015
Updated January 27, 2015
7,440 Reviews
3.3
7,440 Reviews
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
3,180 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.  

    A great company to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Assistant Banking Center Manager in Hyderābād (India)
    Current Employee - Assistant Banking Center Manager in Hyderābād (India)

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

    Pros

    Good Culture and Ethics and a storng risk driven culture

    Cons

    Values and belief are less prevalent among the staffs junior levels

    Advice to ManagementAdvice

    Embed the culture among the junior level staff

    Recommends
    Positive Outlook
    Approves of CEO
  2. 7 people found this helpful  

    Teller

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

    I have been working at Bank of America

    Pros

    Good benefits including 401k match, paid vacations and sick days etc, even for part time employees. Flexible and work with school schedule. Good starting pay.

    Cons

    Constant changes in the company are hard to keep up with. Tellers don't get bonuses and aren't paid enough for all the responabilites that they are giveb. Very hard to have a life outside of work. Can be very stressful at times .

    Recommends
    Positive Outlook
    Approves of CEO
  3. 5 people found this helpful  

    The Bank

    • 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 full-time (more than 8 years)

    Pros

    -Many diffrent opportunities
    -generally pay is extremely competitive
    -benefits are outstanding
    -work life balance is a focus

    Cons

    -very political in terms of promotions
    -layoffs every year
    -high turnover in leadership positions
    -large focus on theory vs practicality

    Advice to ManagementAdvice

    Once your start down a strategic path stick with it for long enough to see the long term out comes instead of changing the focus every 1 or 2 years before the results can ever fully be realized.

    Recommends
    Neutral Outlook
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. 1 person found this helpful  

    I worked for Bank of America for almost 30 years. It's a good company to work for.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Vice President IT in Charlotte, NC
    Former Employee - Senior Vice President IT in Charlotte, NC

    I worked at Bank of America

    Pros

    Bank of America provides good benefits to it's employees. There are a lot of different areas, so employees can move around and learn new skills.

    Cons

    There are a lot of layoffs, so that scares many employees because they don't know how long they will have their job.

    Advice to ManagementAdvice

    The technology funding process is flawed, and if it were given the attention it needs, then the yearly lay offs in the tech area could be minimalized.

    Recommends
    Neutral Outlook
    No opinion of CEO
  6. 1 person found this helpful  

    Great Career Opportunity, Limited Security

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Assistant Vice President in Kansas City, MO
    Current Employee - Assistant Vice President in Kansas City, MO

    I have been working at Bank of America

    Pros

    Bank of America really does care about their employees. They have decent salaries with great benefits. Working conditions are good. As always, it depends on the department and manager you work for, but generally, I have had great experience with managers at all levels. There are always opportunities for advancement, though they are not always clear, but they have ways to increase your learning via web classes. I went from cash handling to an at home work position over the twenty plus years I worked there.

    Cons

    Some have complained about a work life balance when you move to higher positions, or if you are in a high volume type production environment. The tellers and banking centers deal with sales issues, but in many back office positions that is not the case. One major issue is that when they do their yearly "house cleaning", they consolidate departments and lay folks off without warning. We held our breath every year or whenever an internal re-org took place. This does not lend itself to job security and gives the impression that the company is not really concerned about its employees.

    Advice to ManagementAdvice

    Internal advancement opportunities need to be made more clear. Furthermore, the re-organization/consolidation process creates A LOT of stress for the regular employee and ultimately effects their loyalty to the company. When an employee doesn't believe, or perceive, that the company is concerned about them because they lay folks off at a whim just to save money (when we all know BOA has enough), it effects their performance and their sense of dedication. A better way is to allow attrition to solve the problem as much as possible, and to offer opportunities within the company BEFORE just cold turkey laying folks off. An employee doesn't feel like the bank's "greatest resource" when they are treated as expendable so easily.

    Recommends
    Neutral Outlook
    Approves of CEO
  7.  

    Summer experience - lot's of learning

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

    I have been working at Bank of America as an intern (less than a year)

    Pros

    Very kind people, a team devoted and extremely helpful for my learning
    A lot of exposure to different types of deals

    Cons

    Lot's of work (including some Sundays when on deals)

    Recommends
  8.  

    Right company, job just isn't for me

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Customer Service and Sales Specialist II in Phoenix, AZ
    Current Employee - Customer Service and Sales Specialist II in Phoenix, AZ

    I have been working at Bank of America

    Pros

    The comradery! This was the most embracing and open environment that offered endless employee life support and career growth opportunities.

    Cons

    In terms of the company, I don't find any cons. I just truely hate the sales position I accepted over a fraud position I was originally offered. I HATE sales but I allowed the pay difference to sway my decision.

    Advice to ManagementAdvice

    Keep putting your employees first! I feel awesome to be apart of such a morally sound company.

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Good place to work. Lots of turnover.

    • 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 full-time (more than a year)

    Pros

    The people are enjoyable to work with and the company seems to value there employees. They really were into doing things the bank of america way.

    Cons

    The banking center is a very stressful environment. Also, there is not much emphasis on career growth for banking center employees.

    Recommends
    Neutral Outlook
    Approves of CEO
  10.  

    Good company and good benefits.

    • 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

    Good company to work for.

    Cons

    May be a little behind the times, but still a good place to trade time for dollars.

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    Good large business, professional organization, committed to customers

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Associate Broker in Houston, TX
    Former Employee - Associate Broker in Houston, TX

    I worked at Bank of America

    Pros

    Large, industry leader helps everyone downstream within the organization. I worked at Merrill, which was absorbed by BofA, and to my surprise the two had very similar mindsets from two completely different retail strategies. Training was the best, most robust and detailed in the industry. Opportunities for advancement (within Merrill especially) were everywhere.

    Cons

    Regulations... regulations... regulations. Smaller firms have more flexibility (or less to lose?)
    Mostly post housing debacle have made doing anything creative a no-go. Regulations become increasingly difficult for smaller/single brokers to survive, especially due to social media and other restrictions (which may have changed since my time there, hopefully for my former colleagues sake..)

    Advice to ManagementAdvice

    Try to get ahead of regulators/regulation and free up some of the creative talent that made the firm what it is... a successful and robust large financial services leader.

    Recommends
    Neutral Outlook
    Approves of CEO

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