Bank of America

  www.bankofamerica.com
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2 people found this helpful  

Creative Destruction makes a company lean and mean, but it's no fun after a while.

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

Pros

BofA is a large and stable bank that will survive this credit crisis.

Cons

Limited opportunities for advancement, mostly due to what is happening in the industry. BofA has succeeded via a growth-trough-acquisition strategy. The downside for associates is that every acquisition includes restructuring and layoffs. The Merrill merger alone will cost 30k-35k jobs.

Advice to ManagementAdvice

Enough with the acquisitions already! Sometimes I think you do this to stroke your egos. Bye the way, growth through acquisition is not a sure thing. Just look how well it went for Sandy Weill when he built up Citi.

Recommends
Approves of CEO

Other reviews for Bank of America

  1.  

    Bank of America is a solid company that will be around for centuries.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Banking Center Manager  in  Houston, TX
    Current Employee - Banking Center Manager in Houston, TX

    Pros

    The best reason to work for B of A would have to be the benefits. 3 months maternity leave Male or Female, 4 weeks off vacation anually as a manager are two of the great benefits as a Banking Center Manager.

    Cons

    The Salary is not what you could earn at some of the competitors. Realistically, Bank of America is a very safe place to work now-a-days considering the economic conditions we face.

    Advice to ManagementAdvice

    Advice for senior management would be to always recognize your associates. Make sure you always let your associates know where they stand, good or bad.

    Recommends
    Approves of CEO
  2.  

    Great company to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Teller Operations Specialist  in  Silver Spring, MD
    Former Employee - Teller Operations Specialist in Silver Spring, MD

    Pros

    Opportunities for advancement.
    They have the best software in the market, making work very easy and user friendly.
    It is a good, strong company that invests lots of money in their R&D and in their software.

    Cons

    It's hard to transfer between departments. The compensation could be better compared to credt unions but you can negotiate a substantial amount if you are skilled at it. You get to deal with many angry customers. They are rigid about how they measure performance so you end up sounding robotic when talking to customers.

    Advice to ManagementAdvice

    Allow employees to transfer to other departments without relying on manager's for complete evaluation. When an employee is good managers can stand in the way of advancement.

    Recommends
    Approves of CEO
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