Bank of America

www.bankofamerica.com
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BOA Execs (esp. East Division Executive leadership) is out of touch and unrealistic.

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Vice President/Branch Manager in Fairfax, VA
Current Employee - Vice President/Branch Manager in Fairfax, VA

I have been working at Bank of America full-time (more than 10 years)

Pros

Good compensation and decent benefits

Cons

1. Retail banking line of business (the most profitable segment at BOA) is overworked and under-appreciated, especially Middle Managers (Market Managers and Branch Managers). 2. There is absolutely No work/life balance in Retail Banking. EXECUTIVE LEADERSHIP IS OUT OF TOUCH (in particular, the Division Executives and above; Area Execs treat Their team the way they are treated, I suppose?)
3. Training is sub-par in comparison to other Financial Institutions.
4. Lots of favoritism by Area Executives and higher
5. Too many Chiefs (Area - level roles have no real impact or value and some of these so called support roles are not accountable for real results? Area Ops Manager, Area Sales Manager, etc)

Advice to ManagementAdvice

STOP putting unreasonable demands on market and branch managers. There are only so many hours in the day(and people deserve to have a Life). Stop turning over great talent.Turnover is hurting the company. Stop fooling yourselves by thinking that most of those that leave "weren't bought in anyway"; the truth is that BOA has lost Top Talent (these folks have left on their own and some Retail Executive's are in denial as to the 'Why'). The Why may have to do with Retail Execs holding Retail mid-level Managers hostage; not allowing them to seek opportunities in other DEPARTMENTS for self-serving reasons (I.e., lack of talent bench due to ineffective recruiting and poor training, poor treatment of experienced employees, burn-out of experienced employees, et. al).
STOP leading by Fear. Spend equal time Coaching AND Inspecting (I.e., imagine if all these years BBC was giving true coaching and feedback. ... What Operational experts you'd have today! Stop allowing Project Team's who haven't worked in the field (branches) to determine key processes. Stop making changes to current processes before they have a good chance to work. I'll stop here.....I hope someone in Executive Leadership sees this.

Doesn't Recommend
Neutral Outlook
No opinion of CEO

7456 Other Employee Reviews for Bank of America (View Most Recent)

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  1.  

    Not so good...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Applications Support Manager in Chicago, IL
    Former Employee - Applications Support Manager in Chicago, IL

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

    Pros

    Great team of people to work with in the Chicago office

    Cons

    The managing director was a jerk. Treated people horribly. He was finally let go for treating people so poorly.

    Doesn't Recommend
  2.  

    Modification clerk

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Modification Clerk in Dallas, TX
    Former Employee - Modification Clerk in Dallas, TX

    I worked at Bank of America full-time (less than a year)

    Pros

    team players, liked helping people with their mortgage loan by working their loan to lower the interest rate to lower house payment

    Cons

    some people are not very friendly

    Advice to ManagementAdvice

    need to not change procedures so often

There are newer employer reviews for Bank of America

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