Bank of America Reviews in Boston, MA | Glassdoor

Bank of America Boston Reviews

Updated December 12, 2018
270 reviews

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Boston, MA Area

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

270 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. "Experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Representative in Watertown, MA
    Former Employee - Customer Service Representative in Watertown, MA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great place to work with nice people.

    Cons

    Pay is little less than deserved.


  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. "Do not work there if you can avoid it."

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

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

    Pros

    The hours are good, and of course you get bank holidays off.

    Cons

    It is essentially a hostile work environment for the Financial Solutions Advisers who sit in the banks. You will fight with the bankers to get in front of clients. Regional managers are given their positions based on how well they are liked by their managers. Usually less than 5 years of experience in the industry. They will avoid problems when you ask for help.

    Advice to Management

    You have to manage EVERYONE, not just your success stories who do well because they sit in high traffic, high net worth locations.


  4. "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.


  5. 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


  6. "Teller Perspective"

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

    I worked at Bank of America (More than 3 years)

    Pros

    Decent benefits with excellent maternity/paternity leave

    Cons

    Micromanaged with very little pay for the amount I was entrusted with.


  7. "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.

  8. 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.


  9. "Commercial Lending Operations"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Document Administrator II in Waltham, MA
    Current Employee - Document Administrator II in Waltham, MA
    Recommends
    Negative Outlook
    Approves of CEO

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

    Pros

    -Flexible schedule
    -Great benefits
    -Good experience
    -Good direct management

    Cons

    -High volume
    -Varying complexity
    -Stress
    -Poor upper level management
    -Many changes for the worse
    -Decent pay but does not compensate for the stress. Similar jobs with other banks offer more pay and less stress. Great experience to get your foot in the door.
    -Business partners have high demands and lack knowledge.

    Advice to Management

    -Focus on the people and not the numbers. Job is too complex and varies too often to meet cycle time, QA, and production goals.


  10. 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.


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