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Wealth Management Intern

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

I worked at Bank of America part-time (Less than a year)

Recommends
Positive Outlook
Approves of CEO
Recommends
Positive Outlook
Approves of CEO

Pros

Exposure to clients and portfolios

Cons

Experience based on Financial Advisory
Not a consistent program

Advice to Management

Establish a more formal program

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  1. Overall an excellent position to put on your resume but this was a middle office position

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Analyst in Saint Louis, MO
    Current Employee - Financial Analyst in Saint Louis, MO

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    *Excellent brand name to put on your resume
    *Learn the fundamentals of financial analysis, credit, banking, underwriting & due diligence
    *Laid-back and positive environment; not cutthroat at all
    *Relatively tame hours for banking (40-50hrs/week)
    *Great compensation for the hours

    Cons

    *Middle office position; no client-facing aspects whatsoever despite the fact that you will be underwriting credit products for some of the Bank's most ultra-high net worth individuals

    *No opportunities for vertical advancement; if you want to be client-facing or in the front office, this position should be viewed solely as a launching pad

    *Work can be repetitive and at times not challenging enough

    Advice to Management

    Figure out a way to have private banking analysts interface more with the front office. Even if this means just establish greater communication with client advisors, I see no reason why this wouldn't or shouldn't be mutually advantageous.

  2. Summer Intern, Business and Technology. ET&D.

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

    I worked at Bank of America as an intern (Less than a year)

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    -Training Modules
    -Coworkers were hardworking and genuinely desired to assist when possible.
    -Up-to-date technology
    -Clear communication of duties.

    Cons

    -A million acronyms.
    -Too much bureaucracy sometimes in regard to things like "tollgates" and seemingly useless meetings. While there is a need for meetings, sometimes they seemed to cost too much time for the benefit of information.
    -As an intern, it would have been helpful to sit in with a coworker on the earlier meetings to more quickly be brought up to speed.

    Advice to Management

    For summer interns, provide more job-shadowing assignments at the beginning of internships to provide quick answers to basic questions, which will more quickly have interns up to speed and producing work more effectively.

    Also, have a vocabulary sheet available for interns with all the needed acronyms and terms that they will likely be needing while they work there.

There are newer employer reviews for Bank of America
There are newer employer reviews for Bank of America

See Most Recent

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