Bank of America Reviews in Chicago, IL | Glassdoor

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Bank of America Chicago Reviews

Updated December 27, 2017
355 reviews

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Chicago, IL Area

3.3
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
141 Ratings

355 Employee Reviews

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Pros
Cons
  • No cons just your work life balance or culture depends a lot on the manager that runs the financial center (in 470 reviews)

  • High turnover of upper management (in 406 reviews)

More Pros and Cons

  1. "BofA FICC Tech review"

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

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

    Pros

    four months paternity & maternity leave, reasonable pay

    Cons

    poor health benefits, slow pace


  2. "Financial Center Lending Officer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Loan Officer in Crystal Lake, IL
    Former Employee - Mortgage Loan Officer in Crystal Lake, IL
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Excellent benefits, flexible schedule, technology

    Cons

    As a full commissioned positioned at a financial center location, your success will be based on the financials centers ability to produce. Unfortunately, some locations perform better than others.

  3. "Meh is the best way to put it"

    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
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Interesting work on cutting edge technology is possible but expect to play politics if you want a shot at that stuff
    Decent bonus

    Cons

    Political.
    Very poor raises
    A little too big brother

    Advice to Management

    It’s the standard walk the talk situation. Lots of talk and marketing campaigns to tell us how valuable we are but then we get nothing


  4. "Antiquated and poorly written/organized training materials"

    StarStarStarStarStar
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Representative in Chicago, IL
    Former Employee - Customer Service Representative in Chicago, IL

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

    Pros

    Decent pay & good benefits to start

    Cons

    Training materials that are the most unhelpful and tedious I’ve ever seen, and I’ve been in the industry 10-15 years.

    Advice to Management

    Revamp your training materials with the help from an outside company - they are some of the most poorly done in the industry. Have every management position review the training materials for their effectiveness, errors, and other ways to streamline them.

    Consolidate and streamline your internal websites


  5. "financial advisor"

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

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

    Pros

    autonomy good opportunity for learning

    Cons

    beauracracy, lots of compliance, changing envcironment


  6. "Former Director"

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

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

    Pros

    Great people. Heavily focused on transformation aimed at simplifying the environment, reducing costs, increasing efficiencies. This should mean long-term viability and increased successes quarter after quarter.

    Cons

    The relentless focus on cost reduction has a downside, which is the morale of the people who remain. Additionally, while there is a great deal of lip service about investment in employee growth, very few areas succeed in making this a priority, as teams are stretched very thin.

    Advice to Management

    Take a longer-term view of employee talent and make TIME for your associates to invest in their own growth. This will pay off significantly for the bank in the long-run.


  7. Helpful (1)

    "Relationship Manager"

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

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

    Pros

    Ability to earn bonuses and health benefits

    Cons

    Too much pressure to sell and push products

    Advice to Management

    Instead of having daily meetings to discuss why sales are low, give the relationship manager a chance to improve their sells first. Give them some autonomy.

  8. ".net lead developer"

    StarStarStarStarStar
    Current Contractor - .NET Lead Developer in Chicago, IL
    Current Contractor - .NET Lead Developer in Chicago, IL

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

    Pros

    Best practice and good environment and best security features

    Cons

    delay in taking decision for implementation


  9. "Great Benefits, Average Leadership in Management"

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

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

    Pros

    Great benefits! The healthcare was awesome as well as entertainment discounts.

    Cons

    Management does not have time to invest in other employees due to work overload and stress from the higher ups. They don't provide much compensation for continuing education and the time off provided is not much.

    Advice to Management

    Take time to invest in incoming talent, let them know that they are valued.


  10. "GREAT PLACE TO GET STARTED"

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

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

    Pros

    Great work Enviorment, Staff and Benefits.

    Cons

    Cutting of Staffing, Salary is average at best

    Advice to Management

    Be able to have a open conversation that would allow feedback without the fear of repercussion


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