Working at Bank of America | Glassdoor

Bank of America Overview

Charlotte, NC
10000+ employees
1904
Company - Public (BAC)
Banks & Credit Unions
$10+ billion (USD) per year
Bank of America is one of the world's largest financial institutions, serving individuals, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and ... Read more

Glassdoor Awards

Best Places to Interview: 2016 (#49)

Bank of America – Why Work For Us?


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Listening to our teammates answer the question, “What would you like the power to do?” helps us shape all we do to be a great place to work. By asking this, we start a conversation about what matters most to them.

We are committed to cultivating a culture where diversity and inclusion are celebrated and embraced, performance is recognized and rewarded, opportunities are created for all employees to develop and grow and the physical, emotional and financial wellness of our ~205,000 global workforce is supported.

Click here to search and apply for jobs at Bank of America

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Our core values provide the foundation for all that we do.

Deliver Together

We believe in the importance of treating each customer, client and teammate as an individual and treating every moment as one that matters.  We strive to go the distance to deliver, with discipline and passion.  We believe in connecting with people person-to-person, with empathy and understanding.  

Act Responsibly

Integrity and the disciplined management of risk form the foundation of our business.   We believe in making decisions that are clear, fair and grounded in the principles of shared success, responsible citizenship and community building.

Realize the Power of Our People

We strive to help our employees reach their full potential.  We believe that diverse backgrounds and experiences make us stronger.  We respect every individual and value our differences - in thought, style, culture, ethnicity, sexual orientation, gender, gender identity and expression, experience, age and ability.

Trust the Team

We believe that the best outcomes are achieved when people work together across the entire company.   Great teams are built on mutual trust, shared ownership and accountability.  We act as one company and believe when we work together, we best meet the full needs of our customers and clients.

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Our commitment 

At Bank of America, we are committed to cultivating a culture where diversity and inclusion are celebrated and embraced, performance is recognized and rewarded, opportunities are created for all employees to develop and grow, and the physical, emotional and financial wellness of our 205,000+ global workforce is supported.

By actively encouraging our employees to bring their whole selves to work each day, we create a workplace where our colleagues are engaged, empowered and committed. Our people make us stronger, and the value we deliver as a company is strengthened when we bring broader perspectives to meet the needs of our diverse stakeholders.

We are proud to be a company that reflects the diversity of our stakeholders—in thought, style, culture, ethnicity, sexual orientation, gender, gender identity and expression, experience, age and ability. At all levels of our company, we are committed to attracting, retaining and developing diverse talent. And we are proud to have been widely recognized for our progressive workplace practices and initiatives that promote inclusion.

We hire from more than 350 universities around the world to fill internship and full-time positions, with on-campus sourcing at nearly 100 core schools. Over the past year, we have increased our work with Hispanic-Serving Institutions in key locations, including Puerto Rico, and expanded our recruiting efforts at four Historically Black Colleges/Universities. Since 2013, we have hired 168 interns from universities in Côte d'Ivoire, Egypt, Ghana, Kenya, Nigeria, South Africa, Togo, Uganda and Zimbabwe through our Africa Internship Program.

Through strong relationships with more than 30 organizations focused on advancing diverse talent—including the National Black MBA Association, Robert Toigo Foundation, The Posse Foundation, Disability:IN and Lesbians Who Tech—we’re bringing the best and brightest from around the world to Bank of America.

Further, our military and veteran recruiting team partners with a variety of organizations and attends job fairs to find talented military service members, military spouses and veterans to join our company. We are proud that our company has hired nearly 10,000 military veterans, guards and reservists since 2014. Additionally, our Diversity Executive Recruiting team actively identifies prospective executives and connects talent to leaders at Bank of America.

Our commitment to creating an inclusive experience for all employees starts at the top: Our CEO Brian Moynihan chairs our Global Diversity and Inclusion Council (GDIC), which is composed of leaders representing every line of business and geography. The GDIC is focused on growing the diverse representation of our workforce and promoting an inclusive workplace, where all employees have the opportunity to achieve their career goals and meet the needs of our clients.

Our leaders serve on numerous local and national boards and regularly receive top industry honors, including recognition in Fortune, Forbes, Working Mother and Diversity Inc. .

To encourage our employees to bring their whole selves to work, we offer opportunities for teammates with shared backgrounds and interests to connect with each other through our 11 Employee Networks. Comprised of more than 300 chapters and over 150,000 memberships worldwide, these networks help employees develop leadership skills, build ties with local communities and advance diversity recruitment.

Employee Networks

Asian Leadership Network

Black Professional Group

Disability Employee Group

Hispanic/Latino Organization for Leadership and Advancement

Inter-Generational Employee Network

Leadership, Education, Advocacy and Development for Women

Lesbian, Gay, Bisexual and Transgender (LGBT+) Pride

Military Support and Assistance Group

Multicultural Leadership Network

Native American Professional Network

Parents and Caregivers Network

Young Professionals Network (Asia Pacific)

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At Bank of America, our most important asset is our people. Our benefits programs are designed to meet the diverse needs of our employees at every stage of their life and help them plan for tomorrow.

Health & Insurance Benefits

We offer a comprehensive benefits package that includes medical, dental and vision coverage for employees and their eligible family. Life and disability insurance options provide income replacement in the event of serious injury or death.

Our health plans focus on wellness and helping employees learn more about their own health to save money in the long run. Through this focus on wellness, our covered employees and dependents have access to tools like healthy lifestyle coaching to support a healthier life. Employees can contribute to tax-favored health care accounts to help manage out-of-pocket health care costs. To help, the bank also contributes to eligible employee’s health care accounts.

Medical

Bank of America offers medical plans that are easy to understand; and delivers valuable features to help manage health care costs by focusing on wellness. All of our plans include the predictability of an annual deductible, security of an out-of-pocket maximum and coverage for eligible medical services, such as doctor's office visits, specialist care or a hospital stay as well as a prescription drug plan.

Dental

We offer a dental plan that provides coverage for preventive care, basic care, like fillings, extractions and repairs, and major care, like crowns, dentures and bridges.

Vision

Our vision plan covers eye exams, eyeglass lenses, frames and contact lenses. Employees also can elect a vision discount program, which offers discounts on routine eye exams, eyeglasses, LASIK surgery, contact lenses, nonprescription sunglasses, contact lens solutions and other eye care accessories.

Health Care Accounts

Health care accounts help our employees manage out-of-pocket costs by setting money aside pretax from their paycheck to use for eligible health care expenses.

Dependent Care Flexible Spending Accounts

This account allows employees to contribute pretax dollars to pay for eligible out-of-pocket dependent care expenses.

Associate Basic Life Insurance

Employees are automatically provided with bank-paid basic life insurance equal to one times their annual base salary, up to a maximum of $2,000,000.

Supplemental Life and Accidental Death and Dismemberment Insurance

Our employees may purchase Supplemental Life and Accidental Death and Dismemberment (AD&D) insurance for themselves, their spouse/domestic partner and their children, up to certain limits. Additional supplemental life insurance can be purchased for up to eight times the sum of annual pay and bonus up to $3,000,000. AD&D insurance pays a benefit if an employee (or a covered family member) becomes paralyzed, dismembered or dies as the result of an accident.

Performance-based compensation

In addition to base compensation -- bonuses and incentive programs are important parts of our overall compensation package.

Life Management Benefits

Bank of America’s comprehensive Life Management programs are designed to assist employees with many of life’s challenges and opportunities:

Parental Leave

After working one year for Bank of America, employees can take up to 12 weeks of paid maternity, paternity and adoption leave.

Adoption Reimbursement

Reimburses up to $8,000 per adopted child upon legal adoption for eligible employees.

Back-Up Care

Provides employees with access to 25 days of center-based childcare per year when their primary caregiver is temporarily unavailable during work hours (such as vacation or sick). Care is available for children 6 weeks to 12 years of age.

Benefits Education and Planning Center

Provides employees with unlimited one-on-one financial, retirement and benefits planning with an experienced financial counselor at no cost.

Child Care Plus®

Helps pay for childcare expenses incurred while working by reimbursing you up to $240 per month, per child for income-eligible employees.

Tuition Reimbursement

Bank of America reimburses eligible employees up to $5,250 for job-related courses or to fulfill a job-related degree program.

LifeCare®

A free, confidential resource and referral program offering practical advice and support to help employees and their families manage work and personal responsibilities, including financial and parenting advice and helping find child- and elder-care resources.

Employee Assistance Program (EAP)

A voluntary, confidential service to help employees and their families deal with family problems, job-related issues, stress and other situations.

Retirement Benefits

Whether our employees are just starting out or well along the way to planning for retirement, Bank of America offers retirement benefits and the tools and resources to help employees meet their future financial goals.

Our retirement benefits focus on the 401(k) plan, which gives employees control in managing their retirement savings by allowing them to choose how their money is invested. The plan is funded through your payroll contributions, and the bank adds to employee accounts through:

  • Matching contributions of up to 5% of eligible compensation
  • An annual company contribution of 2% or 3% of eligible compensation, based on your years of vesting service

In addition, we offer tools and resources — available online and through personalized one-on-one conversations with a financial counselor — to help manage 401(k) accounts, as well as overall retirement plans.

Not all employees are eligible to participate in all benefit programs. The terms and conditions of the benefits described above may be governed by written benefit plans and/or other documents. The above stated description of benefits is intended as a summary and for informational purposes only; this document does not create a contract between the company and any employee or potential employee. The underwriter of the auto and home insurance policies is not affiliated with Bank of America. All programs and benefits are subject to change at any time.

Time away

Bank of America offers employees a range of paid and unpaid leave options for taking the time they need away from work (some programs require one year of continuous service to be eligible):

Time Off

Provides employees with both paid and unpaid time off from work for illness, vacation, holidays and other personal reasons (includes leave of absence policies).

Parental Leave

After working one year for the bank, employees can take up to 12 weeks of paid maternity, paternity and adoption leave.

Purchased Time Off

Gives an employee the flexibility to purchase additional hours of personal time away from work that is available after regular vacation time is used. Manager approval is required.

Short-term Disability

Provides partial income replacement if an employee is unable to work for more than seven consecutive calendar days, due to a qualifying disability, up to 26 weeks.

Long-term Disability

Provides partial income replacement if an employee is unable to work due to a qualifying disability. Additional coverage can be purchased.

Employee Banking & Investment

As a Bank of America employee, you have access to a full range of Bank of America products, and services with preferred pricing and employee discounts. You can also take advantage of Merrill Lynch investment products and resources to pursue your financial goals at every stage of your life.

You may know that as a Bank of America employee, you can enjoy all the same products and services as our customers and clients. But did you know you can also get higher rates on money market savings and lower rates on loan products?

The Employee Banking and Investments team (EB&I) provides the guidance, tools and products to help improve your financial well-being.

Our financial advantages may include:

  • Preferred rates and fee waivers on checking and savings
  • Higher earnings rates on money market accounts
  • Competitive interest rates and fees on employee credit cards
  • Special discounts on vehicles, cars, boats and RVs
  • Reduction in discount points on mortgages and the assistance of a dedicated Home Loans team
  • Special pricing on investment product(s) available through Merrill Edge

Your short-term and long-term financial goals may change over time. That’s why it’s important for you to know about everything EB&I has to offer – from everyday banking to home loans, car loans, investments and more.

Special pricing on investment products is also available through Merrill Edge.

Flexible Work Arrangements

You may be able to take advantage of a work arrangement that gives you flexibility in balancing your life and work schedules. Flexible work arrangements are mutually agreed upon by a manager and an employee.

Work Arrangement Options

  • My Work®: A formalized plan that gives employees the opportunity to work from a variety of corporate bank locations or from wherever they are most productive as opposed to a traditional, dedicated cubical or office
  • Alternate Work Location: A program that provides the opportunity for associates to work at a location outside of the bank (home or mobile location)
  • FlexTime and Compressed Workweeks: A program that offers employees a flexible option to alter starting and/or departure times, or condense a full-time workweek into fewer days, and job responsibilities for a specific need.
  • Select Time: A program that reduces an employee's work schedule and job responsibilities for a specific need
  • Job Sharing: A program that allows two non-overtime-eligible employees to share the responsibilities of one job. For example, two employees can share one full-time job and each work 20 hours a week.

 

 

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Headquartered in Charlotte, NC, Bank of America offers a range of careers in locations around the world. From the U.S. to Asia Pacific, Canada, Europe, the Middle East, Africa and Latin America, you'll find opportunities to expand your skills and advance your career.

Our employees provide individual consumers, small- and middle-market businesses, and large corporations, governments and institutions with a full range of banking, investing, asset management and other financial and risk management products and services. We are committed to hiring the best talent to meet the needs of our diverse stakeholders.

Bank of America Reviews

  • Featured Review

    Helpful (69)

    "Great company to work for!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President in Atlanta, GA
    Current Employee - Assistant Vice President in Atlanta, GA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Fantastic benefits and great leadership and atmosphere to work in! Great work life balance!

    Cons

    Large corporation, don't always agree on some of the organizations we support.

    Advice to Management

    Keep up the great work!

See All 22,168 Reviews

Bank of America Photos

Bank of America photo of: World Financial Center
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Bank of America Interviews

Experience

Experience
68%
21%
11%

Getting an Interview

Getting an Interview
51%
16%
11%
10
5
4
3

Difficulty

2.7
Average

Difficulty

Hard
Average
Easy
  1. Featured Interview

    Helpful (42)  

    SQA Engineer Interview

    Anonymous Employee in Tampa, FL
    Accepted Offer
    Positive Experience
    Easy Interview

    Application

    I applied online. The process took 2 weeks. I interviewed at Bank of America (Tampa, FL) in October 2018.

    Interview

    Interview process took two weeks and was very smooth. Great communication from the HR team. They kept me up to date on the status of posting and provided me with an outline of the benefits offered by the company.

    Interview Questions

    • Standard questions around strength and weaknesses. Mostly spoke about the importance of traceability and standards across the organization.   3 Answers
See All 5,685 Interviews

Bank of America Awards & Accolades

  • Secretary of Defense’s Employer Freedom Award, Employer Support of the Guard and Reserve (ESGR), 2013
  • Best Places to Work, Human Rights Campaign’s (HRC) Corporate Equality Index, 2013
  • 50 Best Companies for Latinas to Work for in the United States, LATINA Style, 2013
  • 100 Best Companies, Working Mother, 2013
  • 50 Out Front Companies for Diverse & Women Managers to Work, Diversity MBA Magazine, 2013
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