Bank of America Reviews

Updated March 30, 2015
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  1. The company is great there is lots of team work.

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

    I have been working at Bank of America

    Pros

    You are always busy, never bored so the day goes fast and you learn more

    Cons

    If you do not like math your life will be misreable because that is what it is all about

    Advice to ManagementAdvice

    They are strict and expect your best in everything

    Recommends
    Positive Outlook
    Disapproves of CEO
  2. 1 person found this helpful

    Great place to work if you can live with employment uncertainty.

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

    I have been working at Bank of America

    Pros

    Competitive pay and good benefits including health insurance, pension, paid time off, charitable contributions matching program.

    Cons

    Uncertain employment environment in which the company has frequent reorgs (avg of 1/yr in my space) with no apparent employer to employee commitment, regardless of the employees ability and commitment.

    Advice to ManagementAdvice

    Develop a work atmosphere in which employees are utilized, perhaps repurposed, in the company's reorgs rather than the widespread layoffs that are commonplace. Become a company that is known for employer-employee loyalty, even if shareholders do not earn as high of profits.

    Recommends
    Neutral Outlook
    Approves of CEO
  3. Lots of growth and development

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President Unit Manager Business Control & Communications in Addison, TX
    Former Employee - Vice President Unit Manager Business Control & Communications in Addison, TX

    I worked at Bank of America full-time (more than 10 years)

    Pros

    Very good medical and disability benefits.

    Cons

    Downsizing of the mortgage side prompting me along with others within this field to be laid off.

    Advice to ManagementAdvice

    Be neutral when associates make complaints and get to know your staff.

    Recommends
    Negative Outlook
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  5. 1 person found this helpful

    Good Company

    • 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 5 years)

    Pros

    Great benefits and easy to move around in the company as long as you are persistent. Pay was pretty decent and alot of fun working here

    Cons

    The only con I would say is due to the mortgage crisis, you never know when or if you will be laid off. Job security is not good anywhere in the mortgage industry.

    Advice to ManagementAdvice

    Try and find systems that streamline work as much as possible. Theres alot of change required in mortgage so it would be nice to not have to worry about systems changing along with it.

    Recommends
    Neutral Outlook
  6. A good company to work for.

    • 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

    Great advancement, benefits, Vacation, and sick leave

    Cons

    really no down falls, it's what you make of it.

    Advice to ManagementAdvice

    A great company to work, advancement, training, great benefits

    Recommends
    Positive Outlook
    Approves of CEO
  7. Good place to work

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

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

    Pros

    Good opportunities to grow and network since the company is so large-- relatively easy to find a different role or function within the bank but in a different business area

    Cons

    Pros and cons around work environment and management really depends on what part of the bank you're in. Personally had good and bad experiences

    Advice to ManagementAdvice

    No general advice to management.. every team is different and work environemnt really depends on immediate upper management style. bank of america is a huge, huge employer

    Recommends
    Neutral Outlook
    Approves of CEO
  8. Great environment. Constant fear of layoffs and reorganizations.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Consultant in San Francisco, CA
    Former Employee - Senior Consultant in San Francisco, CA

    I worked at Bank of America full-time (more than 10 years)

    Pros

    Great benefits. Excellent colleagues. Many of my teammates during the several teams I worked with were extraordinarily skilled and learned a lot from them. Good life-work balance: I had the privilege to telecommute for the last ten years, which was great for my family.

    Cons

    Like all big multinational corporations, there are too many levels of management and way too many divisions. The main effect of this fragmentation is upper management are constantly involved in reducing redundancy and realigning organizations. We have seen too many waves of layoffs and movement of teams from one hierarchy to a new one overnight (in over a decade of work there I had about 14 bosses, no joke). I finally succumbed to another "reduction in force" attack, this time due to the Mortgage business being outsourced in the coming years.

    Advice to ManagementAdvice

    Stop the Reign of Terror about layoffs already! Living with uncertainty has an enormous impact in employee productivity, for three months after every layoff wave everybody invests a good portion of their time to polish their resumes. It'd be better to have a program to help the employees you plan to let go in the near future, so they have a chance to prepare and put an end to the rumor machine.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  9. Great experiences

    • 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

    Pros

    Large company with many opportunities to learn and grow for employees that take responsibility for their career and take on new roles

    Cons

    Difficult to move between lines of business
    Too many reorganizations are inefficient
    Lack of senior positions

    Advice to ManagementAdvice

    Constant reorganization is inefficient and costly. You need to assess the advantages and costs of the changes.

    Recommends
    Neutral Outlook
  10. Interesting

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Company IS Downsizing, So ITS Tough to Get A Great Feel
    Current Employee - Company IS Downsizing, So ITS Tough to Get A Great Feel

    I have been working at Bank of America

    Pros

    Great benefits, comfortable work environment,

    Cons

    Huge company, lot of hurdles to jump to improve processess, or make changes.

    Advice to ManagementAdvice

    Utilize Six Sigma approach

    Recommends
    Neutral Outlook
    No opinion of CEO
  11. 1 person found this helpful

    Large corporate workplace at its best.

    • 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

    Vast opportunities in various lines of business and functions within financial services.
    Flexible, good work/life balance
    Drives a culture of diversity and inclusion

    Cons

    Like any other large corporate company, very risk averse which means a lot of red tape, can be difficult to get things done in a swift manner.

    Recommends
    Positive Outlook
    Approves of CEO

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