Bank of America Reviews in Chicago, IL | Glassdoor

Bank of America Chicago Reviews

Updated January 18, 2019
397 reviews

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Chicago, IL Area

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

397 Employee Reviews

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Pros
Cons
  • "No work-life balance when you work 6 days a week" (in 520 reviews)

  • "Don't get a lot of support from upper management" (in 453 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. "Opportunity to move around if you network"

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

    I have been working at Bank of America full-time (More than 8 years)

    Pros

    Good Benefits that are hard to top - Paternity, PTO Medical is decent but expensive.

    Cons

    Great initiative ideas that never come to fruition.

  3. "BofA Financial Analyst"

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

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

    Pros

    Good benefits and vacation package.

    Cons

    Not great 401K match, internal systems are dated


  4. "Client Associate/Personal Banker/Teller"

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

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

    Pros

    Huge Company, nice benefits - especially health and wellness.

    Cons

    rotating staff, constantly changing teams and managers

    Advice to Management

    Pay attention to the complaints - sometimes, they are small adjustments that can mean all the difference to how one views attending work every day.


  5. Helpful (1)

    "Consolidating company locations = losing good employees"

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

    I have been working at Bank of America full-time (More than 8 years)

    Pros

    Good pay, good benefits, friendly people

    Cons

    No more perks, no working from home, no moving around company unless you are in the 5 core locations


  6. "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


  7. Helpful (1)

    "Dishonest Managers"

    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 a year)

    Pros

    Good resources, hours are okay

    Cons

    Pay, turnover, bonus structure, treatment from management

    Advice to Management

    I worked at BOA 1.5 years. I had 4 different managers in that time. The branch was always understaffed, everyone I worked with was applying elsewhere. You will not get the advice or help you need to move up within the company, as management wants everyone to be content with the same position and pay for years. Ended up putting in my two weeks after receiving another offer and being told I would be released that day, which is common for going to a competitor. Manager then changed his mind and tried to get me to work past my two week notice, and marked me as "not eligible for rehire." It took a few phone calls to HR to get my correct pay and to be marked eligible for rehire after he did basically everything he could to hurt me, all for leaving for a better opportunity. Best thing I ever did was leave and get paid. Steer clear of BOA in downtown Chicago.

  8. "Interns seemed like an afterthought"

    StarStarStarStarStar
    Former Intern - Summer Technology Analyst in Chicago, IL
    Former Intern - Summer Technology Analyst in Chicago, IL

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

    Pros

    Pays fairly well for a company whose most valued employees are not software devs

    Cons

    Manager had made no plans about my intern project until after I started my first day on the job
    Training and onboarding for new hires was extremely tedious and ate into time for projects
    Technology stack is extremely outdated and inefficient compared to those used in other companies
    All office space was taken, so technology interns on my floor had to set up workstations in their rarely-used game room

    Advice to Management

    Take intern projects more seriously and provide more support for them


  9. 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!


  10. "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.


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