Bank of America

  www.bankofamerica.com
  www.bankofamerica.com
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9 people found this helpful  

I am in the PMD program, and the stress level is extremely high.

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Financial Advisor
Current Employee - Financial Advisor

I have been working at Bank of America

Pros

You are paid a salary for the full 3 years of the program. Merrill has strong name recognition. The research department is top notch. The technology is outstanding.

Cons

You must meet quarterly and annual production hurdles, which are outrageously high. If you don't pass your securities licensing tests, you get fired. If you don't meet your production hurdles on time, you get fired. All of the training is reading. Good luck finding someone to mentor you. No good financial advisor has the time or the desire to share their secrets with you. You must build your business from scratch. You are not given any leads. Most of the advisors in my office have either been in the business for 20+ years or have a wealthy family with wealthy friends. You are not going to get on a team until you have a sizeable book. Other advisors are not going to give up any of their compensation to put your on their team. I am afraid of losing my job every day because I am barely meeting the production numbers. I don't feel professional because I have not even been given an office yet. I have been in a cubicle since I started a year ago, and there are several empty offices at my location. I have to meet with my prospects in the conference room. The whole situation is very discouraging.

Advice to ManagementAdvice

The PMD training program is a joke. It is no wonder that so many new advisors fail to complete the program. There is so much information thrown at you at once. It needs to be more structured and individualized. The company spends a lot of money on us during the PMD program. I thought it was because they wanted us to succeed. It almost seems like they want us to fail within the first couple of years so they can get rid of us and keep our clients.

Doesn't Recommend
Approves of CEO

7128 Other Employee Reviews for Bank of America (View Most Recent)

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  1. 1 person found this helpful  

    Just satisfied

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Technical Analyst
    Current Employee - Technical Analyst

    I have been working at Bank of America

    Pros

    Benefits are the best around

    Cons

    Sometimes you feel like you're spinning your wheels and that no one knows what's going on

    Advice to ManagementAdvice

    Communicate more with associates

    Recommends
    No opinion of CEO
  2.  

    Good overall experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Personal Banker
    Former Employee - Personal Banker

    I worked at Bank of America

    Pros

    I got time off when i needed. Great benefits. Great company. Always a chance for commission. Good work clarity. Room to advance. Can switch departments at any time. So many different department that you can stay with the bank and do different things.

    Cons

    Had to deal with annoying customers. Not the highest paying job. Harder work than you got paid. Alot is expected of a PB

    Advice to ManagementAdvice

    Havent worked since 2009. I don't know how management is doing now. When i was there it was fine. That was befoe the recession though.

    Recommends
    No opinion of CEO
There are newer employer reviews for Bank of America

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