Bank of America Austin Reviews

Updated May 18, 2020

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4.0
93%
Recommend to a Friend
99%
Approve of CEO
Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
16 Ratings
  1. "Great place for a career - not a job"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Vice President in Austin, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of America full-time for more than 8 years

    Pros

    Professional development, 401k, RSUs, deferred compensation, vacation days, career advancement

    Cons

    Medical plan leaves a lot to be desired

  2. "Too much time to get things done"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Contractor - Communications Manager in Austin, TX
    Doesn't Recommend
    Neutral Outlook

    I worked at Bank of America for more than a year

    Pros

    There are smart people there.

    Cons

    Too many processes, procedures, and meetings to get work finished


  3. "Good Place to Work"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Relationship Banker in Austin, TX
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Bank of America full-time for more than a year

    Pros

    There are several benefits offered to you to make you feel apart of the company. They work on your wellness, health, and do their best to make you happy physically and mentally.

    Cons

    This is a big company which makes you a number to them. Bonuses are based on results which they fluctuate with the reachability of your monthly goals, making it easy some months and difficult other months.

  4. "Good company, not the best internship"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Intern - Advistor Development Summer Analyst Program Inter in Austin, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Bank of America for less than a year

    Pros

    The people are amazing and they have good compensation

    Cons

    The program is not what I expected and was pretty vague

  5. "Best Bank"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Relationship Banker in Austin, TX
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Bank of America full-time for more than a year

    Pros

    As far as banks go, this is the best of the 3 that I've worked at. The most annual vacation time (3 weeks to start), great benefits, and a very respectable selection of banking options to introduce to customers.

    Cons

    The usual big bank qualms. Frustrating customers and passed-down pressures of leadership

  6. Helpful (3)

    "Relationship manager"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Relationship Manager in Austin, TX
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Bank of America full-time for more than 3 years

    Pros

    First off if you don’t need much to be decent at this job, as long as your good with people and sales you’ll be fine. Great benefits and great salary when you have the right team in the right market and the right managers it’s amazing and makes the work life balance worth it (rare though). You get your own office and a fancy plaque that makes you feel good. The company strategy that they put out is smart, more focus on financial planning instead of monotonous servicing. They are in the business of helping our clients.

    Cons

    theres always 2 sides to a story, while they preach and push forward all these great things they need to purge all of these issues that keep customers away from us Now let me tell you, I’ve worked in multiple locations in multiple states. And unless you have extreme patience just use this job as a means to an end so you can work at a better one. There is a HUGE divide both in clients and in associates alone where people are stuck in there old ways. It leads to a lot of disconnect and miscommunication between associates especially management. They set too many metrics you have to hit. I have to worry about making sure every single aspect of Bank of America is over 100% to goal. I understand I must meet the metrics but I think we forget we are human and Erica hasn’t taken over yet so don’t act as if my job is on the line when I’m 135% in everything else BUT OH NO I DIDN’T HAVE ENOUGH MERCHANT REFERRALS. Another thing that frustrates me is when you do try and put in the effort and struggle every single time to hit everything and even though the location your at doesn’t have the clientele for that business aspect of Bank of America it can limit you to try and get promoted or a raise. Another thing is time, you can get fired if you mistype your time which makes sense but when a HUGE amount of your employees are getting flagged and written up for time tracking (especially your high performing ones) DONT YOU THINK ITS TIME TO SIT DOWN WITH WORKDAY AND GO OVER YOUR BUSINESS AGREEMENT WITH THEM? I don’t get it, this company is a double standard and won’t even pay us good bonuses, I worked so hard to reach the top 2 tiers and I felt like I got paid half than what I put in

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  7. Helpful (6)

    "A great company that needs clearer direction."

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Financial Center Manager in Austin, TX
    Recommends
    Negative Outlook
    No opinion of CEO

    I worked at Bank of America full-time for 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.

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  8. Helpful (1)

    "Not the best"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    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 for 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

  9. "Really good company culture professional team."

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    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 for more than a year

    Pros

    Respect each other. Close independently in the team.

    Cons

    I do not know if there is any cons.

  10. "Great managers, and work enviroment"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - DRR in Austin, TX
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Bank of America full-time for less than a year

    Pros

    Good pay, very productive work

    Cons

    Long hours can be very tiring

Found 46 reviews