However, what may be confusing for some people is the fact that Bank of America continues to host job fairs in the wake of this announcement, including one recent job fair to hire 30 new bank employees at its Rancho Cordova, CA branch, according to news reports. So if you are considering a job at Bank of America and want to know what it’s really like to work at one of the nation’s largest banks, here are just a few recent highlights from employees dishing on what’s working well (Pros), what may need some improvement (Cons), and what advice they have to offer senior management.

Pros:

• “If you do a great job and would like to get promoted, you will have many options,”- Bank of America Employee (location n/a)
• “Good benefits and vacation package, lots of opportunities for advancement,” – Bank of America Claims Analyst (location n/a)
• “Growth and knowledge, a great place to learn about finance,” – Bank of America Teller (New York, NY)
• “Good benefits, good advancement opportunities, good hours,” – Bank of America Personal Banker (Desert Hot Springs, CA)

Cons:

• “Reputation and customer dissatisfaction, negative media attention,” – Bank of America Employee (Kennesaw, GA)
• “Company is undergoing a tremendous amount of change,” – Bank of America Employee (Charlotte, NC)
• “Too much corporate politics that affects growth opportunities,” – Bank of America Banking Center Assistant Manager (Los Angeles, CA)
• “Be prepared to have someone who never did your job observe and comment on what you say and do several times a week,” – Bank of America Personal Banker (St. Petersburg, FL)

Advice to Senior Management:

• ”Need to be more employee centered and rewarding when it comes to pay scale,” – Bank of America Banking Center Assistant Manager (location n/a)
• “If the company does not care for its people, they will not care for the company,” – Bank of America Research Analyst (San Francisco, CA)
• ” Please motive and encourage team members,” – Bank of America Employee (location n/a)
• “Many give their heart and soul and 85 hours and are never thanked appropriately compensated. Not good,” – Bank of America Consumer Market Manager (location n/a)

Do you work at Bank of America or any other financial institution? Share a company review. Want to learn more about Bank of America, including information on jobs?

• Bank of America Jobs
• Bank of America Company Reviews
• Bank of America Salaries
• Bank of America Interview Questions & Reviews

Stay tuned for more monthly Glassdoor blog articles featuring what it’s really like to work on the inside at various companies

Bank Of America Employees Sound Off Post Layoff News is a post from: Glassdoor Blog

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The question is, what does this mean for both past Countrywide and current Bank of America employees?  Looking through the reviews and salaries on Glassdoor, we found a few interesting tid-bits we thought we’d share:

Salaries:  At Countrywide, a home loan officer earns about $63k/year.  But Bank of America home loan officers reportedly earn an average $67K/year. Does this mean that Countrywide loan officers will see adjustments to address equity gaps?

Company and CEO Ratings: Countrywide Financial has an average company review of 2.5, while Bank of America employees rate their place of business at 3.2. In terms of CEO approval ratings, Bank of America CEO Ken Lewis currently receives a 54% approval rating which overshadows Countrywide CEO Angelo Mozilo’s approval rating which comes in at a meager 5%.

To give Bank of America perhaps a bit more of a leg up as this transition and hiring spree takes effect, here is some useful advice Countrywide employees have to offer the management team:

“Spend some time learning what your employees are doing day to day instead of just looking at the bottom line”

“Reduce the title inflation, reduce the layers of management inbetween employees, better equipment!”

“[For Bank of America] Have a stronger vision for the end user experience. The web site and marketing programs often seem set up to benefit BofA rather than the customer.”

“Have a better grasp on your employees and the talent on your hands. Work towards motivation and personal growth within each employee which in turn only benefits you and the company.”

Do you have insights as an employee of Bank of America? Let us know.

Also as a side note, Bank of America CEO Ken Lewis was subpeoned last week and is now being investigated to determine whether the bank broke the law by not telling shareholders about big Merrill Lynch losses. Will Ken Lewis stay in office much longer? Will his approval ratings take a dive? Stay tuned.

Bank of America Hiring as Countrywide Transaction Completes is a post from: Glassdoor Blog

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BusinessWeek reports “the latest problem for Thain, a former head of the New York Stock Exchange (NYX), was news reports that some former top Merrill executives had gotten their bonuses on the eve of the brokerage’s merger with BofA, which raised eyebrows in light of the hefty $15.4 billion fourth-quarter loss. Thain also drew headlines in December 2008 when he sought a $10 million bonus from Merrill’s board, but he quickly backed away from that fight.”

Check out how some of the company salaries for BofA employees compare to those of Merrill Lynch employees.

• Bank of America Salaries
• Merrill Lynch Salaries

The article also states that “BofA CEO Ken Lewis flew to New York in the early morning to talk with Thain about his position with the bank and, according to a person familiar with the discussion, it was “mutually agreed that his situation was not working out and he would resign.”

Ken Lewis, Bank of American Chairman, President and CEO currently receives a 57% approval rating where as the company receives a 3.2 rating. (Interesting to note is that Thain held a 59% CEO approval rating at Merrill Lynch.) Back in mid-December, we had reported that Bank of America had seen a downturn in its company rating in the past six months. It will be interesting to find out how employees will react and rate the company and CEO given these rapid fire changes.

Stay tuned…

Merrill Lynch CEO Calls It Quits Following Bonus Scandal is a post from: Glassdoor Blog

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