Bank of America

www.bankofamerica.com

Bank of America Reviews

Updated January 26, 2015
Updated January 26, 2015
7,423 Reviews
3.3
7,423 Reviews
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
3,172 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. 1 person found this helpful  

    Micromanagement

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

    I worked at Bank of America

    Pros

    Benefits- medical, dental, vision, and 401k

    Cons

    Management is cliquish...definitely a "who you know" type of job when it comes to advancement in every sense of the phrase

    If you're in a call center position, micromanagement is an understatement. Unrealistic expectations are drilled into you and changed without notice over night.

    Advice to ManagementAdvice

    Be honest and transparent. Don't sell the opportunities and possibilities as attainable when everyone on the floor knows that promotion is based on unprofessional loyalties and preferences of upper management

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    Do it or else!!!

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

    I worked at Bank of America

    Pros

    Health insurance and child care reimbursement.

    Cons

    Poor management, inadequate training, and constant demoralization. You are expendable from the word go.

    Advice to ManagementAdvice

    Respect, appreciate, and listen to your employees.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3. 1 person found this helpful  

    Aggressive sales, better pay at a car lot.

    • 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 5 years)

    Pros

    Okay benefits and vacation time.

    Cons

    Vacation days are dictated as to when they can be taken, very sales oriented, layoffs occurring, compensation is extremely low for the amount of job duties being added to associates due to many other departments being closed. Short staffed everywhere. Always worried and threatened about not meeting sales and referral goals, very stressful. Employee turnover rate is extremely high and employee morale is low.

    Advice to ManagementAdvice

    Incentive package is a joke, in most centers the goals are unobtainable, therefore associates cannot make their bonus, thus, saving the company money. Everything is at the manager's discretion which allows them to decline any and all request, which is not fair to hard working associates. Management should be trained in every area/aspect of the banking/financial center including processing teller transactions and operations. This should be mandatory in order to coach or even write up associates. Managers, CMM, and up should take leadership classes, because many have obtained these positions without the necessary experience, such as leadership skills.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5. 1 person found this helpful  

    BOA

    • 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

    great benefits and work great with schedule

    Cons

    Making so many changes and are not focused on customers and customer service.

    Advice to ManagementAdvice

    realize what got the company where it is . customer service!!

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  6. 1 person found this helpful  

    Bad company to work for

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

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

    Pros

    There is decent medical and insurance offered with the company. You have access to the best accounts and rewards that normally only apply to people with larger bank accounts. There is generally a good work atmosphere among your peers. A good stepping stone job.

    Cons

    Pay is not terrible but not great either. The company will lie and deceive you left and right to get what they want from you. They are very sales driven but have unrealistic expectations. Nobody in the area reaches the goals they have set out. This leads to non-stop discussions and threats of losing your job. There is no room for advancement or transferring until you have been there for a year which is ridiculous. The entire job is extremely stressful and tough to detach from when home. Company also breaks labor laws regularly but does it in a way so they can blame you or make it your fault even though they threaten to fire you if you don't comply.

    Advice to ManagementAdvice

    Treat employees with respect and make better business decisions. Horribly ran company in all levels of management. Would be nice if they actually listened to suggestions.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7. 3 people found this helpful  

    An insult to our America's flag

    • 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 (more than 10 years)

    Pros

    The customers and some of your co-workers make the job worth it. Some co-workers are willing to help you out, when you need assistance; since most training is hands-on. The customers can be wonderful, really making the job worth it and really making you feel like you made a difference; which is the rewarding part of the job.

    Cons

    Ironically BofA left the same management/loan officers from Countrywide in charge of its loan operations, management blithely unaware of the most basic federal laws and regulations, the most common thing said by both customers and employees is that in our corporation the right hand does not know what the left hand is doing and it is absolutely true, employees have no access time to access the employee handbook...yet are written up, discrimination is commonplace, employees are timed on bathroom breaks and this information is displayed for nearly 100 people to see, compensation seems fair/industry standard - but the as the bank continues to consolidate...employees have seen their daily goals rise to numbers that are un-realistric. HR, Advice and Counsel - have no clue what you actually do, so even if you followed the procedure manual, your manager can still get away with writing you up. Benefits are a joke. They seem nice and shiny on outside, but if you actually need them; it is almost impossible to get access to your own benefits. BoA has a group set up inside AETNA, I'm not sure if this is common or not; but when you call the AETNA number, you are also talking to someone working for and knowledgeable of BofA guidelines; so they make it difficult to access any type of medical 'leave'.

    Advice to ManagementAdvice

    Stop laying people off, some of the largest corporations in America realize that people have to have a job to keep the economy going up; as a company that is dependent on the economy and people being able to save money and by a house, it is also your responsible to add jobs to boost that economic growth. Assign an HR, Advice and Counsel representative to each line of business and make sure there is a representative per every 50 employees. Allow both a digital and printed copy of the employee handbook, and allow the employee time to read it. Make sure all employees comply with all Federal, State, and local laws. Do not show the answers to tests over federal, state, local laws; managers are notorious for going through their group and retaking the tests for their employees and filling in the correct answers, just to avoid there teams being off the phone...this does nothing to help the employee(s) and does don't help with compliance. Comply the the Equal Employment Opportunity Commission to avoid discrimination and retaliation lawsuits. Train your managers and train them to motivate workers, not to threaten their jobs. Eliminate micromanaging and encourage employees to think outside the box. I was never given an employee handbook and the only one available is online, but I am not even given the time to read it; but apparently even if you have a doctor's note and call in and have the sick time available, it counts as some point against you unless you call 24 hours in advance. Calling in 24 hrs in advance to say that you will be sick is only going to encourage people to abuse the system. If a person is really sick, usually they don't know it until the morning of and for those that are really trying to make it; they probably are going to wait until the last minute until they call in. Move out all of the old Countrywide management in the loan division and train new managers, to ensure that compliance will not be avoided. Don't time bathroom breaks and display them for everyone to see. If you feel that an employee may be abusing bathroom breaks, use the appropriate channels and talk to HR/advice and counsel to see what should be done. If the employee has a medical problem/disability, continuing to display their bathroom times could result in an OSHA and/or ADA violation. Make realistic goals, which will come by hiring more people. Benefits look great if you can actual take advantage of them; separate yourself from the provider and offer other providers, to give employees choices.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 1 person found this helpful  

    No one cares about you there

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mortgage Consultant in Chandler, AZ
    Former Employee - Mortgage Consultant in Chandler, AZ

    I worked at Bank of America full-time (more than an year)

    Pros

    Money was ok but thats it. As soon as people made good checks they changed the comp plan

    Cons

    They lie, cheat, and steal from employees and customers. Most of the rumors are true. I actually go penalized for skipping my break

    Advice to ManagementAdvice

    Don't lie to your employees, most adults can handle the truth no matter how bleak it may be.

    Doesn't Recommend
    Negative Outlook
  9. 2 people found this helpful  

    Non supportive of their employees

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

    I worked at Bank of America

    Pros

    non non non non non

    Cons

    Trying to figure things out on your own and when you do you get scolded. No support

    Advice to ManagementAdvice

    Not everyone is a trainer and not everyone has patiences.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    challenging place to work

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

    I worked at Bank of America

    Pros

    The company had good medical benefits.

    Cons

    Work life balance was poor. Worked IT doing software development in an investment banking area. Software releases were done on Friday nights and I was expected to work all weekends. deadlines were always tight and was expected long days to complete tasks. There was no recognition for any extra effort put into the job. I was with the firm for many years.

    The place was very political. If you have friends in high places you probably are safe.

    Advice to ManagementAdvice

    Try not to squeeze people to the nth degree than throw them on the streets.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11. 1 person found this helpful  

    The last couple years in Ohio, for bofa, were horrible. They did not want to be there and the gave us scraps for jobs!!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mortgage Underwriter in Cleveland, OH
    Former Employee - Mortgage Underwriter in Cleveland, OH

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

    Pros

    The coworkers were why most of us stayed, and the salaries we had achieved.

    Cons

    Too much fraud committed and those behind it were promoted continuously!

    Advice to ManagementAdvice

    Fire yourselves!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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