Bank of America
3.2 of 5 5,992 reviews
www.bankofamerica.com Charlotte, NC 5000+ Employees

Bank of America Reviews

Updated Jul 10, 2014
All Employees Current Employees Only

3.2 5,992 reviews

                             

74% Approve of the CEO

Bank of America President & CEO Brian T. Moynihan

Brian T. Moynihan

(2,522 ratings)

63% of employees recommend this company to a friend
5,992 Employee Reviews
in

Review Highlights

Pros:
  • "The work-life balance can be better but most managers are pretty flexible with you"
    in 327 reviews
  • "Great coworkers, good work /life balance they let a lot of people work from home"
    in 181 reviews
Cons:
  • "There is very little work life balance and the pay doesn't justify the hours worked"
    in 119 reviews
  • "Lack of communication from upper management with regards to procedure changes"
    in 150 reviews
  • Show more review highlights

Reviews

    • Culture & Values
           
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    • No Opinion of CEO

     

    Worked as an IT engineer for many years.

    Anonymous Employee (Former Employee)
    Richmond, VA

    ProsPays well. Good people to work with who know there stuff. (not necessary to work for). Has high earnings on their earnings report.

    ConsNo career advancement. Always wondering when the axe was going to fall. All the good manager left for other opportunities. Upper management positioning their cronies in management positions. Tensions are high.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Their mission statement should be "DO IT, OR ELSE!!!"

    Dedicated Service Director (Former Employee)
    Charlotte, NC

    ProsGreat benefits, child care reimbursement, complimentary coffee in the break rooms,

    ConsMicromanagement, counterproductive metrics (which are continually inaccurate), inadequate training, poor leadership, and pitiful incentives. This company is driving at full speed to self-service, automation, and outsourcing and they make it clearly known. You are a number, you are evaluated by numbers, and your days are numbered. You are expendable from day one and that is exactly how you are treated and regarded.

    Advice to Senior ManagementAdvice goes unheard and/or ignored.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    bank teller

    Bank Teller (Current Employee)
    Santa Clarita, CA

    Prosgood starting pay. no experience needed

    Constreat teller horribly. expect wayyyy to much out of tellers. don't get payed enough. the bankers are suppose to be the sellers yet everything falls on the tellers. Its always he tellers fault.

    Advice to Senior Managementlazy,

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    • Culture & Values
           
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    • Disapproves of CEO

     

    The old bait and switch!

    Anonymous Employee (Former Employee)
    Pittsburgh, PA

    ProsThe bathrooms were always clean. The benefits were decent. Pay was mediocre

    ConsEVERYTHING! From BofA buying out HLS and then started downsizing. Despite being told over and over by them that everything was great and everyone would still have a job. Laughable!

    Advice to Senior ManagementGrow up!

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Lots of layoffs

    Vice President (Former Employee)
    London, England (UK)

    ProsDue to the widespread problems, you won't be bored there.

    ConsBudgets slashed. Projects canned. Management treat running the company as though it was simply a game to be played. Although this is supposedly a global company, there is discrimination against people in India as the bands are lower for doing the same job. Everything's really run out of Charlotte, so if you're in the rest of the world forget about getting above a band 3. The bank failed to invest in it's infrastructure and systems during the good times. It is probably too late to turn things around now. I'd recommend only if you like fiddling whilst Rome burns.

    Advice to Senior ManagementJust leave

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • Culture & Values
           
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    Bank of America lacks integrity which every bank should have.

    Customer Service Representative (Current Employee)

    ProsIt is close to my home. Also, the beginning pay scale is is good as are the benefits for new hires.

    ConsTeam leads, which are entry-level managers, are very poorly trained. Performance improvements of individual associate are frequently obtained through bullying and scare tactics.
    Seniority no longer matters within the bank and older associates are targeted for dismissal or encouraged to resign due to performance demands by managers that are not equal to those of associates with less service.
    There are high expectations to treat customers well and always with courtesy but managers do not treat employees that way.
    Systems issues are rampant and delays or slow downs due o system problems are frequently used against associates either to deny commission payout or in performance reviews For example in April and May of 2014, known call routing issues resulted in sales leads not going to hundreds of associates in multiple sites. Instead of explaining the problem, managers harassed their teams to perform. Daily reports status updates through 5/15 showed more than 1/2 of all associates were selling at the lowest levels. Then they stopped giving associates the daily reports but used what they said were accurate figures to harass them. This two month system issue caused high levels of stress amongst employees and loss of commission revenue. To date this issue has still not been acknowledged.
    They issue penalty points whenever associates take an earned sick day. Many people come to work sick when they have paid sick time available but too many penalty points to use it. This causes infectious illnesses like flu to breed in work centers. Again, loss of commission, stress, and the added problem of infected associates taking these germs home to family and friends.
    Finally, Bank of America has such a bad reputation that most associates don't like to tell strangers who they work for.

    Advice to Senior ManagementTreat associates as well as you want them to treat customers.
    Revere and respect seniority.
    Stop punishing associates with occurrences when they try to take earned sick time.
    Make our systems work...no excuses. Give associates the tools they need to perform.
    Train managers in effective managing techniques.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Heartless

    Anonymous Employee (Former Employee)
    Dedham, MA

    ProsBenefits good, that's about it.

    ConsSouless, arrogant managers, they hate clients.

    Advice to Senior ManagementCoach don't punish employees

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    1 person found this helpful  

    The other reviews were written by Bank of America's HR, nobody who works here would give this place 5/5

    Business Analyst (Current Employee)
    Pennington, NJ

    Pros-there are no pro's this place is a sweat shop

    Cons-our department was told the we had to lie on our employee satisfaction surveys and give the company 5/5 in every category
    -pay was awful (just enough to keep you going but never enough to save anything)
    -no vertical movement was possible in the company, unless you have connections
    -health insurance plans were some of the worst I've ever seen
    -management treated us like cattle
    -the training was awful, they never actually gave us reading material it was like one big rumor about what you should be doing, no uniformity

    Advice to Senior Management-stop putting fake reviews on Glassdoor.com in order to trick people into wanting to work there (it's obvious from working here that nobody would give this job anything close to a perfect score)
    -be honest and treat people like they deserve to be treated
    -don't make the office a high school environment, encouraging people to rat on each other over trivial things

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • Culture & Values
           
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    You MAY get divested to a different bank

    Branch Manager (Former Employee)

    ProsPay, incentives, HR, room for growth, great products, risk culture

    ConsGet comfortable and then you get sold like cattle to a new bank..
    No regard for associates. Completely ignorant.

    Advice to Senior ManagementFirst off when you "sell" a banking center to a different bank please don't degrade the associates more than they already are. You tell several centers they are no longer part of the company, and you offer NO support. I would have rather been layed off then harassed and told all associates sold can't return to the company for 1 year. That's the worst feeling knowing your leaving your dream job and the company could careless. You didn't save jobs, on the contrary 60% of associates quit. I guess you achieved your cutback goals.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • Culture & Values
           
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    Terrible culture where you are treated with no respect and no appreciation for personal sacrifices

    Investment Banking Associate (Former Employee)
    Palo Alto, CA

    ProsPay is at or above the mean as compared to other investment banks; company has started more initiatives to help work/life balance issues

    ConsDespite efforts to improve work/life balance of employees, actual enforcement of new policies is inconsistently applied

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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