Bank of America

www.bankofamerica.com
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There are newer employer reviews for Bank of America

1 person found this helpful  

Worthwhile

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Modification Underwriter in Fort Worth, TX
Current Employee - Modification Underwriter in Fort Worth, TX

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

Pros

Low level managers are good to work with and encourage having fun while at work. Overall the environment and my experience has been good (in comparison to other places i've worked). Though the company has posters everywhere indicating the desire to make this "The Best Place to Work". I think the company has a long way to go.

Cons

In the most recent few years, income has gone down significantly. Career path is controlled by the company. Management can squelch any attempt to change jobs. Opportunities to gain certifications are limited to a few so career growth is controlled. Not many opportunities to advance career because company has been shrinking the past few years. Advancement is based on band levels (like the military). However, band levels are inaccurate. Myself having over 7 years of experience and the one training the new kids out of college has a lower band level than those being brought in. They are the ones with the opportunities for growth. Pension was cut.

Advice to ManagementAdvice

Reward those who've dedicated more time to the company. Work on the band levels and make them fair. Provide a clear path for growth to allow people to increase in value and demand as they continue their career. Stop cutting benefits and wages while paying your investors and management more based on the increased profit from those cuts.

Doesn't Recommend
Neutral Outlook
Disapproves of CEO

7797 Other Employee Reviews for Bank of America (View Most Recent)

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  1. 1 person found this helpful  

    Good Place To Work in Online/Mobile Technology

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

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

    Pros

    Bank embraces use of innovative online and mobile technologies. People looking to work at the forefront of technology (either on the tech or business side) will find many attractive opportunities at the Bank.

    Cons

    Very complicated place to work. It can be frustratingly difficult to get things done. Expect to spend a lot of time navigating red tape.

    Recommends
    Neutral Outlook
    Approves of CEO
  2.  

    PMD Program

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Advisor - PMD in Miami, FL
    Current Employee - Financial Advisor - PMD in Miami, FL

    I have been working at Bank of America full-time (less than a year)

    Pros

    Great position for someone who is a career changer - you get paid a salary, which is either under 50k, or 50-70k, the salary level you choose will decide what your production hurdles will be. So you can elect a higher base but you will have higher production hurdles. They pay you to study, get your 7 and 66, and Health/Life Insur License. The prospecting and acquiring clients is BRUTAL! Do not kid yourself, the failure rate is extremely high. I have plenty of experience in marketing and it is sooo hard. Looking back I would not have started in this program. I am just hitting my hurdles but dont see this trend able to continue into the coming months as hurdles start increasing. I am contemplating looking for other positions.

    Cons

    The hurdles for production and huge, and prospecitng is extremely difficult. Cold calling is impossible with do not call lists. No one responds to mailers. Seminar success is very low and those that do want follow up drag their feet. You starve for even small accounts.

    Advice to ManagementAdvice

    Lead generation or some sort of more develop support would be great in terms of marketing and prospecting. The have plenty of resources, but the hurdles still seem unrealistsic.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
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