Bank of America Reviews in Boston, MA | Glassdoor

Bank of America Boston Reviews

Updated December 12, 2018
194 reviews

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Boston, MA

3.2
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
94 Ratings

194 Employee Reviews

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Pros
Cons
  • "Work/Life balance can be overwhelming" (in 515 reviews)

  • "Lack of communication in upper management" (in 448 reviews)

More Pros and Cons

  1. "right focus"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Process Engineer in Boston, MA
    Current Employee - Process Engineer in Boston, MA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    has the right focus, on risk and on customers

    Cons

    unless you live in the right location, you cannot work here...


  2. "Got Me twice"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Boston, MA
    Former Employee - Anonymous Employee in Boston, MA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Bank of America full-time (More than 8 years)

    Pros

    Benefits were the only plus.

    Cons

    Too much politics for advancement

    Advice to Management

    Value your customers and your employees! It's not always about the bottom line!!!

  3. "Interaction Designer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Interaction Designer in Boston, MA
    Former Contractor - Interaction Designer in Boston, MA
    Neutral Outlook
    No opinion of CEO

    I worked at Bank of America as a contractor (More than a year)

    Pros

    The number of projects a designer can get their hands on is quite impressive - even for a contractor.

    Cons

    Occasionally felt as though one was being "hall monitored" by upper management.


  4. Helpful (1)

    "No care for employees"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Relationship Banker in Boston, MA
    Former Employee - Relationship Banker in Boston, MA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    The people you directly work with are great, the benefits are solid especially if you have a family but that’s about it

    Cons

    When talking to market managers and higher the problems become apparent. The company wants you to document an asinine amount of info while seeing back to back to back customers and burning yourself out. Unrealistic expectations are placed on employees to turn every sit into a mortgage or a business account - you WILL NOT hit your goals in many cases no matter how hard you try. This is by design, as talking to other RBs and RMs will show you that entire markets are set up to fail. Market managers do not care about your concerns and will blow you off for months - the only time mine cared was when I told him I was on my way out the door. Most importantly, pay is significantly lower than their competitors

    Advice to Management

    Just care about your employees a little more. Don’t ignore us when there are problems and don’t set unrealistic expectations and burn us out


  5. "A good place to work, if you are on the right team."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Vice President in Boston, MA
    Former Employee - Senior Vice President in Boston, MA
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Great benefits. BofA is committed to doing great work in their communities.

    Cons

    If you are in a line of business it can be good. If you are in a support function, you will be perpetually under-resourced and at least on the team, I was a part of we had limited credibility with management. Getting quality work done without interference was impossible. Lots of nepotism/favoritism.

    Advice to Management

    Make rules that make sense. Not arbitrary ones that mean losing good people.


  6. Helpful (1)

    "Dont become a loan officer for BoA"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Center Loan Officer in Boston, MA
    Former Employee - Financial Center Loan Officer in Boston, MA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Pros'- somewhat flexible work schedule. People were generally pleasant to work with

    Cons

    The downside of the flexible work schedule is that you are always on for your poor clients. Over 50% of loans that are entered are declined. That number dosen't even reflect all the loans that are withdrawn because they look shaky or the client is missing some documentation. I would frequently put in loans they would get declined and then the client would turn around and get approved at another bank. Everything said about doing too many things is true. You are in a Financial Center and are expected to train Relationship Managers to make referrals. Unfortunately the RM's don't report to you they report to the Financial Center Manager. So if the Financial Center is making it's goals it's just too bad for you.

    BoA's reputation makes it almost impossible to get new purchase mortgage clients. Real Estate agents and brokers will do anything to stop their clients from using BoA because of its reputation for declining loans or taking too long to approve the ones they do approve. The only way to be successful is to convince RE Agents to work with you despite the banks reputation. Obviously something that is very difficult to do considering all the options available.

    Advice to Management

    Management is obviously not concerned, all they do is constantly hire new loan officers to replace all the ones that quit. Make loan processors and underwriters responsible for doing their jobs. Loan officers should not have to process the loans and pre underwrite them.


  7. Helpful (3)

    "FCOM"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - FCOM in Boston, MA
    Current Employee - FCOM in Boston, MA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Benefits are the best

    Cons

    When you get promoted in the company you never get a fair raise compared to new hires from outside of the company.

    Advice to Management

    When you promote an employee give him a fair and competitive salary.

  8. "Working Environtment"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Relationship Manager in Boston, MA
    Former Employee - Relationship Manager in Boston, MA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Bank of America (Less than a year)

    Pros

    Dynamic, supportive leaders, strong infrastructure and product line

    Cons

    compartmentalized, not flexible, need to be adopted to new style of managing and motivating people -

    Advice to Management

    enhance training opportunities, do not compartmentalize training using old computer based modules.


  9. "Relationship manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Boston, MA
    Current Employee - Anonymous Employee in Boston, MA
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

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

    Pros

    Great vacation and sick time

    Cons

    6 day work week and not enough system training

    Advice to Management

    Better pay needed and more 6 days


  10. Helpful (6)

    "Amazing Benefits but Extreme Sales Pressure"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Center Operations Manager in Boston, MA
    Current Employee - Financial Center Operations Manager in Boston, MA
    Recommends
    Negative Outlook
    Approves of CEO

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

    Pros

    Benefits are amazing (insurance, 401(k), even car insurance discounts.) The experience of meeting people and networking here is great if you want a job in banking. The room to move up in this company is also great. I started with the company as a teller 4 years ago and now I'm interviewing to be a branch manager. I've been a teller, banker, and now an assistant manager and the fact that they keep encouraging growth is a great part of this company.

    Cons

    The thing that really bothers me here is the EXTREME sales pressure. BOFA hides behind the whole "improving financial lives" to make employees feel good that they are doing the right thing for their customer. They really don't give a crap about their customers they want sales, sales, and more sales. It's never enough. Every night we are on a phone call until 5pm to tell market leadership "how many financial lives we improved in the day" Give me a break. If you get on the call and haven't done enough accounts or credit cards it's like you are on trial. The poor Relationship Managers are even under worse pressure. Constantly worried they will be fired if they "don't improve more financial lives" The company doesn't have realistic sales goals


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