Bank of America

  www.bankofamerica.com
  www.bankofamerica.com

Bank of America Reviews

Updated December 23, 2014
Updated December 23, 2014
7,159 Reviews
3.3
7,159 Reviews
Rating Trends

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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
3,058 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

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  1.  

    Rich in Benefits, Poor in Salaries

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

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

    Pros

    The benefits offered at Bank of America are top-notch: health benefits, 401K + match, tuition reimbursement, charitable gift matches, 10 sick/personal days, 10 bank holidays, at least 2 weeks vacation (incrementally increases the longer you work there), discounts or credits on banking products and services, and they generally support a healthy work/life balance.

    Cons

    While they have started to offer competitive salaries to new hires, they didn't always, and now have not been able to bring veterans up-to-speed on their salaries. In my case, I make significantly less than my peers who are doing the same job, despite the fact that I have an advanced degree and they don't. It seems to be true that the only way to get a significant raise at this company is to leave for a while and be hired back.

    Recommends
    Positive Outlook
    Approves of CEO
  2. 6 people found this helpful  

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

    Pros

    Decent base...good bonus opportunity. In my time there I always exceeded my goals and maxed out my incentive, which provided a lucrative quarterly bonus.

    Cons

    Little to no opportunity for high performing personal bankers unless you want a management position.

    Advice to ManagementAdvice

    Have a program to license you high performing bankers! BOA is a very shark like sales environment....survival of the fittest....but those of us that survive get bored with no further sales opportunity to further our careers. I left because a competitor is paying to get me licensed and move me into a Wealth Mgmt. role. Also, cut all the red tape out, revamp the mortgage and customer service (800 number) departments as they cause the most customer complaints. Understand that your customers are so so angry at the company that they come in and take it out on the local branches. Working at a BOA branch, you brace for impact everyday because the customers always come in the bank so angry. Value your customers and value your front line employees who get screamed and cursed at on a regular basis by the customers that are just totally over all the red tape, the mtg dept. losing the paperwork for the 4th time, and the customer service dept for giving them the wrong info yet again.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3. 2 people found this helpful  

    Bank of America

    • 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 benifits. Good people. Exact opposite of what you hear about the bank in the press. the have been nothing but positive and trying to do the right thing for the last 5 years.

    Cons

    No job security. Lay offs have been part of the culture for the last 3 years. As the bank is shrinking it is not a stable place to work at any level. Be sure to have a contractor mentality as work is shrinking as are jobs.

    Advice to ManagementAdvice

    Transparancy around job life spands.

    Recommends
    Neutral Outlook
    Approves of CEO
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  5. 2 people found this helpful  

    Good company to work for if you're in the right department. If not, watch out, you will be sacrificed en masse.

    • 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

    Call center was a friendly, family environment.
    Hardworking people
    First name basis with upper and middle management
    Great pay for the position
    Constant training modules and classroom instruction
    Excellent benefits
    Place to build a life-time career

    Cons

    Off site management not always truthful. After awhile you learn to identify the 1984 level lies. When the bank wants to save money they have no problem laying off hundreds of people at a time or shutting the entire site down. CEO and Senior Management make bad financial decisions for the health of the bank and then get a golden parachute, while the employees are left to clean up the mess, up to and including having their jobs sacrificed to increase revenue

    Advice to ManagementAdvice

    Stop making greedy financial decisions and then forcing employees to bear the burden when it doesnt turn out well.

  6.  

    It's been a great experience.

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

    I have been working at Bank of America part-time (more than an year)

    Pros

    Very team orientated, position that allows you to improve your customers' life.

    Cons

    Can sometimes become hectic with new company outlook and goals.

    Recommends
    Neutral Outlook
  7.  

    Good

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

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

    Pros

    My office functioned like a family

    Cons

    No cons to think of

    Advice to ManagementAdvice

    None

    Recommends
    Neutral Outlook
  8.  

    Great Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Business Support Manager in Charlotte, NC
    Former Employee - Business Support Manager in Charlotte, NC

    I worked at Bank of America

    Pros

    Great benefits, educational tools that are avaliable to build skills for future roles within the company and beyond, kept informed about the business

    Cons

    Instability, advancement oport unity is limited unless you really know someone, salaries and bonus' have been seriously reduced over time

    Advice to ManagementAdvice

    Invest more in your people

    Recommends
    Negative Outlook
    Approves of CEO
  9.  

    Thoroughly enjoyed my time there.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Project Manager in Dallas, TX
    Former Employee - Project Manager in Dallas, TX

    I worked at Bank of America

    Pros

    Because it's a large company, there are limitless opportunities to move around. The talent level is very high! If you're lucky enough to get into a MyWork role, you get to work from home and that's great.

    Cons

    If you don't like constant reorganizations and moving from one group of leaders to another, this is probably not the place for you. As new leaders emerge and take on higher roles, there tend to be reorganizations and changes in direction. You must stay flexible to succeed.

    Advice to ManagementAdvice

    Be open in communication to your associates. Change is never easy, but it's even more difficult when the change is kept a huge secret over and over again and you constantly spring major reorganization changes on folks, sometimes causing them to lose teams they're leading through no fault of their own. Have a plan for those leaders when that happens, not just return them to their old position. That feels like a demotion despite extraordinary performance. Check your mid-level managers and verify they're actually living out the core values, not just giving lip service.

    Recommends
    Neutral Outlook
    Approves of CEO
  10. 1 person found this helpful  

    A great introduction to corporate banking and a place of many opportunities for learning.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Teller in Jacksonville, FL
    Former Employee - Teller in Jacksonville, FL

    I worked at Bank of America part-time (less than an year)

    Pros

    Many locations
    ease of transition
    great brand

    Cons

    management style per location can vary

    Advice to ManagementAdvice

    Be open to new ideas.

    Recommends
    Positive Outlook
  11.  

    Loved it

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Teller in Stone Mountain, GA
    Current Employee - Teller in Stone Mountain, GA

    I have been working at Bank of America

    Pros

    Lots and lots of benefits. Easy to move up. Great company.

    Cons

    People will try to commit fraud

    Recommends
    Positive Outlook
    No opinion of CEO

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