There are newer employer reviews for Bank of America

 

Good company to work for with opportunity to grow

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Consumer Market Manager
Current Employee - Consumer Market Manager

I have been working at Bank of America

Pros

Good benefits
Good work/life balance depending on what area you work
Opportunity to move up if willing to relocate

Cons

Tons of burarcy prevents real work from getting done
Many senior leaders dont comprehend business
Company does not value loyal employees

Advice to ManagementAdvice

Should adopt GE method - agressively promote top performers, agressively fire low performers.
Encourage people to speak their minds instead of telling you what you want to hear.

Recommends
Approves of CEO

6832 Other Employee Reviews for Bank of America (View Most Recent)

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  1. 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
  2.  

    Satisfying

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee in London, England (UK)
    Current Employee - Anonymous Employee in London, England (UK)

    I have been working at Bank of America

    Pros

    Good pay package and benefits

    Cons

    Too big an organisation to make things happen. Change is often very slow.

    Recommends
    Approves of CEO
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