Bank of America Reviews in Austin, TX | Glassdoor

Bank of America Austin Reviews

Updated August 12, 2018
37 reviews

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Austin, TX

3.5
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
11 Ratings

37 Employee Reviews

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Pros
Cons
  • "Work/Life balance can be overwhelming" (in 496 reviews)

  • "Communication with upper management can be difficult" (in 437 reviews)

More Pros and Cons

  1. "Really good company culture professional team."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Software Development Engineer In Test in Austin, TX
    Current Employee - Senior Software Development Engineer In Test in Austin, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of America full-time (More than a year)

    Pros

    Respect each other. Close independently in the team.

    Cons

    I do not know if there is any cons.


  2. "A great company that needs clearer direction."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Center Manager in Austin, TX
    Former Employee - Financial Center Manager in Austin, TX
    Recommends
    Negative Outlook
    No opinion of CEO

    I worked at Bank of America full-time (More than 10 years)

    Pros

    -Great benefits, 4 weeks vacations for managers, $5,250/year tuition reimbursement for undergrad, great insurance with lower costs for employees making less than $100k, 401k matching, the list goes on
    -Early closing times, most branches are 9-4 Monday-Thursday
    -The company has many avenues to provide feedback and suggestions for improvement
    -Best mobile and online apps in the industry
    -Bonuses for managers are set up so that if Operations was good, you can still make bonus even if you were short on revenue goals and vice versa
    -Up to date client management software and HR software giving you the ability to add those programs to your resume as most other companies use the same software
    -Learning and networking events are very cool, free access to tons of articles, books and videos online and live to desktop training sessions as well as employee networks that meet in person and over the phone
    -The value of the bank’s products make it easy to recommend valuable solutions to clients
    -Very well structured policies and procedures, and a policy to “stand by” a manager that made a decision that made sense and was well documented, even if it results in a loss to the bank.

    Cons

    -Reporting structure of the branches, bankers report to a market leader instead of the branch manager, but branch managers are held highly accountable for their results. Branch managers do not have the ability to perform disciplinary action for these associates, meaning behavioral issues could go unaddressed.
    -Hours are nice, but staffing is tight so if you lose a person or someone goes on vacation it makes it very difficult to run the branch
    -Hiring/training process takes forever so if someone quits or gets promoted you might not have a replacement for 6 months
    -Moving from the branch into other lines of business is difficult, there isn’t a lot of interaction between departments and in most cities there aren’t other departments besides branches at all so advancement past branch manager is difficult.
    -Internal audit can be punitive, many months of work is looked through but scoring policy only allows for 3-4 errors to pass, and not passing means additional action planning, potential disciplinary action, and your reputation as a leader becomes damaged.
    -The banking products are quality but some fees are hard to justify to clients.
    -Currently not a great sales process, there should be more structure available for newer sales associates with limited experience. The bank almost seems undecided on how they’d like you to speak with clients, with many local market leaders creating their own processes to help.
    -Not a great reaction to the Wells Fargo scandal, the culture still places a lot of pressure on meeting goals or completing tasks like outbound calling without a lot of resources to help train associates on how to effectively perform.
    -Company culture needs work, the bank has been responding to so much over-regulation and I think they’ve lost sight of what sets Bank of America apart, and in my opinion that is the innovative training and education of the associates. There used to be a lot more pride in taking ownership of situations, solving problems in creative ways, and having strong team atmosphere. Lately it seems there is less focus on teamwork and helping everyone to be the best, and too much focus on competition and meeting metrics.

    Advice to Management

    Give more power back to the branch managers and hold managers who don’t perform or make poor decisions accountable instead of universally taking away authority.
    Provide more structure and clear training on sales processes.
    Stop trying to get managers to stop talking about goals, unless you stop making goals we have to talk about them, instead focus on skill building and analyzing the opportunity available to help associates see all the opportunity and become successful.
    In recent years, I’ve found that the skill building provided through conference calls or training came along with a message of “here are some easy things you can do to be successful”, and I would roll it out to my team that way. I think that was a mistake, I think we should acknowledge that this job is hard, and being successful will be extremely difficult, but that we know our people can rise to the challenge because we hire only the best.

  3. "Not the best"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Center Manager in Austin, TX
    Current Employee - Financial Center Manager in Austin, TX
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Bank of America full-time (More than 3 years)

    Pros

    Maternity/paternity leave and benefits are great!

    Cons

    Get lost in a sea of people and the general opinion is that you’re replaceable


  4. "Great managers, and work enviroment"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - DRR in Austin, TX
    Current Employee - DRR in Austin, TX
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Bank of America full-time (Less than a year)

    Pros

    Good pay, very productive work

    Cons

    Long hours can be very tiring


  5. "It’s a job"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Branch Manager in Austin, TX
    Former Employee - Branch Manager in Austin, TX
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I worked at Bank of America full-time (More than 5 years)

    Pros

    Decent benefits but better are available with other banks. Stable work environment and good mid-level management. Hires quality people so coworkers are usually quality people.

    Cons

    Typical corporate money mongers. Care more about sales then benefiting clients. Negative account? Oh, take a credit card! Make your life even worse! Coming in to talk about a deceased relative? Sorry, I still have to push products on you and Hard-sell or I’ll be in trouble.

    Advice to Management

    Show some compassion, caring, and service to all clients. Not just those with more than $50k in their accounts.


  6. Helpful (1)

    "No night shifts Paid holidays"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales & Service Specialist in Austin, TX
    Former Employee - Sales & Service Specialist in Austin, TX
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Bank of America full-time (More than a year)

    Pros

    No night shifts
    Paid holidays
    Decent pay

    Cons

    Unrealistic sales goals. Management constantly threatened to fire employees if they did not increase sales. Customer service did not matter at all, only sales. Causes many customers to be pissed off because management forced us to be so pushy.

    Advice to Management

    The best way to increase sales in the long term is to provide good customer service, not constantly push products on customers every time they come in.


  7. Helpful (11)

    "Excellent experience. High expectations but great rewards"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Small Business Banker in Austin, TX
    Current Employee - Small Business Banker in Austin, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of America full-time (More than 3 years)

    Pros

    Great benefits, good work environment, chance for advancement based on performance. Good paid time off. Performance reviews are done in a timely manner.

    Cons

    High pressure to meet goals. Micromanagement through daily reporting requirements. Lots of email messaging regarding daily performance. Very distracting and not motivating.

    Advice to Management

    Minimize daily reporting. It's not a good talent development tool. Look at the bigger picture.

  8. Helpful (2)

    "Micromanaged, too big to fail mentality, people are being replaced by apps"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Banking Center Manager in Austin, TX
    Former Employee - Banking Center Manager in Austin, TX
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I worked at Bank of America full-time (More than 5 years)

    Pros

    Really the best thing is the medical plan. Other than that, there are genuinely some good people that work there and care about the job they are doing.

    Cons

    If you are a professional, this isn't the greatest environment for you to work in; everything is micromanaged, resulting in redundancy and lack of creativity. Employees are unhappy and treat customers as numbers,

    Advice to Management

    This is supposed to be the 2nd largest bank in the US, but it lacks any sort of ingenuity and creativity. Policies and procedures are antiquated. Telecommuting is only available to a select few people in the company. The most common complaint from both customers and employees is that the right hand doesn't know what the left is doing. Benefits, with the exception of medical, are severely falling behind industry standards. Instead of expanding like Chase, BofA is dramatically cutting employees..branches..even basic office equipment; causing the overall company to continue to reduce its footprint and lose its status. Employees are being replaced by apps and digital voice prompts; further damaging the customer experience. My advice would be to drastically reinvest in the company and the people, stop micromanaging...people are adults there and trusted with large sums of money...let them have control over their workload, foster creativity and give employees time to participate, create a positive atmosphere, streamline policies and procedures..and update them.


  9. Helpful (1)

    "Relationship "Manager""

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Relationship Manager in Austin, TX
    Former Employee - Relationship Manager in Austin, TX
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Bank of America full-time

    Pros

    Hours are great. Overtime eligible. Decent benefits. Opportuity to move up if you know people. Fairly easy to transfer to another branch if you're relocating.

    Cons

    Low pay for the amount of bs they ask of you. Quaterly bonuses, which don't get paid out until a month and a half later. Weekly calls with market manager that go over the exact same thing. Goals constantly changing without notice. No matter your skills or experience you need to know someone to move up. Cutting cost with everything they can think of which hurts your customer satisfaction.

    Advice to Management

    Value employees skills and experience instead of favoring your friends when it comes to promotions. The amount of pressure and threat to your employees is just causing higher turnover rates. Reevaluate the decrease in traffic over the past months and revise goals.


  10. "Financial Center associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Center Operations Manager in Austin, TX
    Current Employee - Financial Center Operations Manager in Austin, TX
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    Excellent benefits
    Business hours
    Paid holidays

    Cons

    Too many sudden changes in management/titles
    Micromanagement
    Understaffed financial centers
    Always cutting hour allotments
    Push ATM migration too much and ATMs are always troubleshooting

    Advice to Management

    Pay more attention to the needs and desires of your financial center associates since they are the face of the company


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