Bank of America

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

 

Big Company

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

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

Pros

Good work-life balance; growth opportunities are (just) okay

Cons

Very little pay increases, if you are lucky. Bonuses are a joke;

Doesn't Recommend
Neutral Outlook
No opinion of CEO

6968 Other Employee Reviews for Bank of America (View Most Recent)

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  1.  

    Decline of an Empire KS/MO

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Banking Center Manager in Wichita, KS
    Former Employee - Banking Center Manager in Wichita, KS

    I worked at Bank of America

    Pros

    401k, health insurance etc are competitive. They are so worried about being sued that HR are overly pro employee which is good for your own job security but bad if you have crappy employees.

    Cons

    The new business model involves asset stripping and little else. Close branches, layoff employees and save money rather than generating revenue. They claim bank closures are because people use online banking these days but that makes no sense as they're actually selling deposits and loans to small community banks in which case they're losing customers rather than getting people to use online banking. Despite job cuts they still have pointless employees such as the sales managers. Our one never set foot in our banking center on a single occasion during the three years I worked there. She didn't host meetings or conference calls either. What did she do? Who knows but those that knew her were afraid of her. I guess she was like the wizard of Oz hiding behind the curtain.

    The employees of closing branches are mistreated too. They offer them retention bonuses to stay until the end but then threaten to withhold bonuses if sales and service goals are not met. Hard to hit such goals when you tell the customers you're closing and the nearest branch is an hour away.

    Beyond that the higher ups don't understand the scorecards which is a problem. How can they manage what they don't understand? The mortgage area is a joke too.

    Advice to ManagementAdvice

    Sack the CEO. Do away with regional sales managers -- they do no work. Get better lawyers, hire a good PR firm and figure out how to generate revenue.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    Definitely somewhere where you move up and grow.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Sales & Service Specialist in Manassas, VA
    Former Employee - Sales & Service Specialist in Manassas, VA

    I worked at Bank of America full-time (more than 5 years)

    Pros

    Training is very extensive, Great Hours, Great teams, Very good benefits.

    Cons

    Depending on your location, it can be hard to meet your goals.

    Advice to ManagementAdvice

    I understand that Upper management may have goals for you, and in return you have expectations from your team. So this may cause stress in the work environment. Do not mix your personal life with your work life. It is not that big of a deal for you to make yourself go insane trying to balance work and home. I used to have a manager who was going through personal problems. On top of that, upper management was keeping a close eye on her because our store was not doing so great. With everything going on, she let her guard down and made poor decisions, and was let go.

    Negative Outlook
    No opinion of CEO
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