Bank of America Reviews in Chicago, IL | Glassdoor

Bank of America Chicago Reviews

Updated November 3, 2018
334 reviews

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Chicago, IL

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

334 Employee Reviews

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Pros
Cons
  • "Work/Life balance can be overwhelming" (in 508 reviews)

  • "Lack of communication in upper management" (in 446 reviews)

More Pros and Cons

  1. "They have a really good training team. They take their time to make sure you understand their expectations for you."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Specialist Trainee in Chicago, IL
    Former Employee - Investment Specialist Trainee in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great training program, which gives great knowledge about how to handle client situations.

    Cons

    It’s an enormous company so moving up is a little difficult and the moves are very small.

    Advice to Management

    The series 66 material wasn’t as correlated to the actual exam as I think it could’ve been.


  2. "12 years of experience with the firm. Begun as a credit underwriter and now a relationship manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Banking Relationship Manager in Chicago, IL
    Current Employee - Business Banking Relationship Manager in Chicago, IL
    Positive Outlook
    No opinion of CEO

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

    Pros

    Good treasury services and card

    Cons

    No cons at this time

    Advice to Management

    No advice at this time

  3. Helpful (1)

    "It starts out great, then you realize"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in Chicago, IL
    Current Employee - Vice President in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Bank of America full-time (More than 5 years)

    Pros

    Widely known company. Great benefits

    Cons

    If you're not in NY, London, NC, you will be forgotten

    Advice to Management

    Teach your managers!


  4. "Software Developers - You can do better"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Programmer Professional Markets/Assistant Vice President in Chicago, IL
    Former Employee - Programmer Professional Markets/Assistant Vice President in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Large, stable company. The team that I personally worked on was mostly hard working, good people. Gained good experience in a variety of areas. I worked here for over 2 years, so I gave it a fair shot. And I will miss the people; felt cohesiveness with my team.

    Cons

    Despite being at such a huge company, my Dev team was run like a start up. The company does not show a proper amount of appreciation for its employees, and the rewards did not show any appreciation for the extra work that our team regularly were EXPECTED to do. I was salaried and often expected to work extra hours each week with not even a word about comp days or extra bonuses. The midyear review period is all pretense, basically a checkpoint with no real value. And the annual review is almost as pointless, because the bonuses are predetermined. I know this because I received the exact same sad bonus in my first year as I did in my second year, only with a 2.5% raise the second time around.

    I was hired to do a specific job, and then my team was dissolved before I was actually hired. So by them time I started, I was doing completely different work than what I was hired for in a completely different LOB.

    The cherry on top was this: despite all the extra hours I (and the rest of my team) put in, and never being rewarded for it, the bank decided to get extra stingy with my final paycheck and only pay me for the weekdays that I worked (despite being a semi-monthly pay schedule which seemed to include all 15 days of the period). I guess I should have said my last day was a Sunday, or maybe just not given a notice at all.

    Also witnessed my team lead get stiffed on more than one occasion, the most prominent case being that he/she was given a promotion and then later had it taken away over a technicality that management created themselves.

    Benefits plan was somewhat competitive, but there was a salary cap on the Medical PPO plan. Perks were few to none, not that our team was given any extra time to enjoy them if they did exist.

    Advice to Management

    Stop being so tight fisted with your money and reward your employees for their hard work with more than a stress ball with your logo on it. It's a slap in the face. And give your Dev teams more budget to work with. It's very obvious who in the bank is important and who are just mules to get the BAU work done. Do more than just the bare minimum.


  5. "Great Experience"

    StarStarStarStarStar
    Former Intern - Anonymous Intern in Chicago, IL
    Former Intern - Anonymous Intern in Chicago, IL
    Approves of CEO

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

    Pros

    -Great Pay
    - Really nice work environment

    Cons

    The work can be boring and repetitive sometimes


  6. "Manager"

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

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

    Pros

    Good benefits and room for growth

    Cons

    Difficult working in some low traffic branches

    Advice to Management

    Tellers need sales training to succeed making quota


  7. "Middle Office Experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Product Control Analyst in Chicago, IL
    Current Employee - Product Control Analyst in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Salary is decent, great benefits, great atmosphere, committed to diversity, work flexibility, and plenty of pto.

    Cons

    Too many systems at use and salary could be better

    Advice to Management

    Share the wealth with the middle office and back office

  8. "Good to work for though heavily regulated"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Release Engineer in Chicago, IL
    Current Employee - Release Engineer in Chicago, IL
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Bank of America full-time (More than 5 years)

    Pros

    Generous PTO for Band 5 and lower employees
    Great parental leave benefits for new parents regardless of gender
    Very inclusive towards the LGBT community
    Matching 401k. 5% match per paycheck and a yearly 2% contribution around bonus time, not performance based
    BoA is now stepping up to provide employees with continued job training that's actually relevant to their jobs

    Cons

    In 2015 we laid off a large chunk of our workforce. For years every department on the tech side was dealing with a skeleton staff and too much to do as a result. Getting anyone's attention for mission critical issues was challenging to say the least. It's starting to get better as of 2018.
    There are many employees that simply don't know what their job is and were never provided with appropriate training to do it. An effort needs to be made on a department by department basis to resolve this.
    Still a lot of training that has no bearing to what we actually do. My job is on the tech end and I have absolutely nothing to do with reviewing customers' accounts. I don't need training on money laundering etc . This mandatory training is a waste of time for many employees


  9. Helpful (2)

    "Go to work, go home and relax."

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

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

    Pros

    Professional growth. Many areas to move to

    Cons

    Can be very tedious. Too many requirements to track interactions.

    Advice to Management

    Get rid of all the unnecessary tracking. We are doing our job. If not, the numbers would show.


  10. Helpful (1)

    "Good Company, Bad Market"

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

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

    Pros

    The benefits, overall company culture, and resources and products the bank offers are all good.

    Cons

    Management in the Chicago area is a joke. Turnover is crazy, most branches are understaffed, and your market leader cares nothing about your development, effort, etc. You're a number, and nothing more. Do everything asked of you and have issues or poor performance beyond your control, and your manager will come around lecturing you about the minimum #'s to hit. Start hitting your #'s, and they will come around with high fives and smiles and act like "We knew you had it in you all along!" The bonuses are very low, and only decent if you manage to make it over several hurdles, including: audit errors, bad customer surveys that your teammates get, and large deposits being made to the branch. If you're in a very busy center that's staffed properly AND get very lucky with surveys and large deposits, you will maybe come away with a few grand for the entire quarter. Incredibly low when you consider how it's taxed, and what your base is for this role.

    Advice to Management

    Turnover is very costly. Clients want familiar faces when they come to a bank, and that's not including the lost production from someone valuable leaving, the cost to hire and train someone new, etc. Pay or promote your best, or they will go to another bank.


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