Bank of America FAQ

Pros

Monies, lot of Monies, benefits, free lunch, and more money

Cons

no work life balance, upper management, they don't value their employees, high turnover rate, lots of pay cuts, lots of sale roles being phased out , lots of Politics. no upward movement

Advice to Management

stop being greedy , making so many business cuts hurt overall brand. cookie cutter model to save as much money as possible and hire people with no experience who willing to take least amount of money.

Pros

Great benefits, health, dental, vision tuition reimbursement, 16 weeks of maternity/ paternity leave, sick days and ample vacation time varies with band level. BofA is well-known brand, established brand (versus a start-up). Several affinity/employee resource groups to get involved with. Finally replaced outdated leaders with new more promising leaders. Commitment to raise minimum pay to $21.

Cons

Confusing, job descriptions. Middle management needs a complete overhaul and is filled with poor managers and their proteges that act and think the same way. Touts awards for "Diversity" yet company lacks ethnic and cultural diversity in Senior and Middle Management. Culture supports favoritism and mostly white men in executive roles and middle management. "You remind me of myself when I was younger" culture .....results in less hiring/promotion of People of Color and more hiring/promotion/mentorship of white men and women regardless of their background or experience. Zero transparency around the promotion process. External hires with no experience are paid more than "tenured" employees with direct experience. Company refuses to disclose pay/promotion/hiring stats to public. Public commitments made to address external social issues, but no changes are being made to address internal inequities in hiring, promotion and professional development.

Advice to Management

Overhaul and clean-up middle management, especially in product development units, marketing/communications and sales. Diversity extends beyond supporting women but also includes hiring and developing ethnic and culturally diverse employees. Make space for people who don't look and act like you to contribute in more meaningful and influential roles. The Pandemic and "Great Resignation" have reinforced the fact that most employees leave companies because of bad managers.

Pros

Stable pay, Well-rounded benefit package including pension, Strong leadership within organisation, Diversity friendly culture

Cons

Hierarchical structure, prevailing cost-cutting sentiment, lack of career growth path (in Finance department)

Pros

They have great benefits and programs for associates and a wonderful opportunity for financial growth.

Cons

They change tools and software around a lot and go through a lot of "reorgnaizations", which can at times make it difficult to build relationships and become proficient with certain tools.

Pros

Great benefits, including both generous maternity and paternity leave, healthcare, life insurance, etc.

Cons

Toxic corporate atmosphere that pushes its people beyond the brink of exhaustion.

Advice to Management

Care more about your people