There are newer employer reviews for Bank of America

B of A an excellent company to work for...but will it continue to be in the next year?

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Sales & Service Specialist in Seattle, WA
Current Employee - Sales & Service Specialist in Seattle, WA

I have been working at Bank of America

Pros

Bank of America provides excellent benefits to their employees. My husband and have taken advantage of their tuition reimbursement program, with a value upwards of 20,000. I have great insurance, consistently receive praise from supervisors and management, have three weeks of paid vacation annually, and was offered a promotion after only 6 months with the company.

Cons

I'm somewhat concerned about upcoming changes at Bank of America given the economic climate and their recent acquisitions of other companies. The recently discontinued a 'Spirit Rewards Program,' which was used in the past to award employees for various successes. For example, I was awarded about 7,500 points in the past year which I used to purchase 350 dollars in gas card gift certificates. Additionally, hours have been cut back and there's talk of layoffs.

Advice to ManagementAdvice

Bring back the Spirit Reward Points, and find ways to maintain the hours promised to employees hired before this economic crisis.

Recommends
Approves of CEO
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  1. 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

    I worked at Bank of America

    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
  2. Not losing sleep over losing my job.

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

    I have been working at Bank of America

    Pros

    It's been a stable company in all this economic turmoil, especially considering what's happened in the financial services industry. Ken Lewis and his Senior Management team have been proactive in keeping the company well capitalized so we don't need to use the TARP money like other banks have been forced to do.

    Cons

    Because it is such a large company, communication from upper management is not always as quick or efficient as it should be.

    Advice to ManagementAdvice

    Invest more in its associates. Create a more fluid process for employees to venture into different channels of the bank, business banking, consumer banking, Premier, BAI, etc. Sometimes you've got great people in the wrong place, and upper management should be more involved in making sure we don't lose good associates just because they didn't know they could pursue other options within the company.

    Recommends
    Approves of CEO
There are newer employer reviews for Bank of America

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