Bank of America Reviews in City of London, England | Glassdoor

Bank of America City of London Reviews

9 reviews

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City of London, England (UK)

2.9
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
3 Ratings

9 Employee Reviews

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  1. "Interesting, steep learning curve.."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Banking Associate in City of London, England (UK)
    Former Employee - Investment Banking Associate in City of London, England (UK)
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Cross asset platform, allows easy access to everything.

    Cons

    Ibanking seems to be on a downscaling path.

    Advice to Management

    Focus more on profitability.


  2. "Very poor blame culture in Equities Middle Office"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Head of Equity Finance Middle Office in City of London, England (UK)
    Former Employee - Head of Equity Finance Middle Office in City of London, England (UK)
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Ability to get involved in a range of projects as there is little taboo with regards to muscling in on other people's initiatives. Lack of ability to hire externally means that there can be frequent opportunities for internal mobility.

    Cons

    Strong blame culture. Often teams are operating under significant pressure and fear or reprisals. Middle Office strategy appears to be nebulous and frequently changes. There is very little in the way of town halls / long term strategy communitcation which leads to an over active rumour mill which unsettles staff unneccesarily.

    Advice to Management

    Root out the management layers that are propagating the fear and blame culture and remove them from the organisation (in particular Equities Middle Office) . Devise a long term Middle Office strategy and stick to it.

  3. "Nice place for a software engineer how would like to talk with (internal) clients."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - IT Intern in City of London, England (UK)
    Former Employee - IT Intern in City of London, England (UK)
    Recommends
    No opinion of CEO

    Pros

    Friendly team
    Good manager
    Work on the trading floor involoves talking to analysts – one can learn a lot about how the trading works without previous knowledge in this topic.

    Cons

    IT could use more good software engineering practices. There are a few teams that do code reviews. Although there are some teams that have a lot of tests in their projects.

    Advice to Management

    Concentrate more on the quality of produced software. It is a common thing, that projects that were to be only temporary are used for a few years anyway – it is a myth that we do software that next day will be thrown away (so we do not need to refactor it or write tests for it).


  4. Helpful (1)

    "Pretty good."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Summer Analyst in City of London, England (UK)
    Current Employee - Summer Analyst in City of London, England (UK)
    No opinion of CEO

    Pros

    Nice people, approachable. Junior managers do make an effort to integrate new starts.
    Reasonable work/life balance
    Good pay in relation to amount of brain power involved in work.

    Cons

    Lack of communication from senior and middle management about important issues such as hiring strategy.
    No long term analyst developement program- training and developement is pretty haphazard. In some divisions talent is simply hired from elsewhere to fill senior jobs- not a good place to start off. Probably go here to earn more once you've learned what you need to elsewhere, i.e at better firms.

    Advice to Management

    More communication from senior management to staff regarding the banks strategy and hiring plans should be in order. Also significant amount of "tick box" mentality in HR which does little to aid company and wastes time.


  5. "Lots to learn"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President in City of London, England (UK)
    Former Employee - Vice President in City of London, England (UK)
    Recommends
    Approves of CEO

    Pros

    - Lots of opportunity
    - Lots to learn

    Cons

    - Very bureaucratic
    - Lots of changes due to the merger with Merrill Lynch

    Advice to Management

    -


  6. Helpful (1)

    "Average"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in City of London, England (UK)
    Current Employee - Anonymous Employee in City of London, England (UK)
    No opinion of CEO

    Pros

    Okay work life balance. Good place to start and to gain experience. Like all large corporations can be frustrating to implement change.

    Cons

    Resistance to change. Depending on location may be very reliant on US support for projects etc. Pay not the best.

    Advice to Management

    Need better comma with all levels of staff. Such a large organisation now staff needs to know how their area is performing and the company as a whole.


  7. Helpful (1)

    "10+ Years - can't be all that bad!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice-President, Technology in City of London, England (UK)
    Current Employee - Vice-President, Technology in City of London, England (UK)
    Recommends
    Approves of CEO

    Pros

    Mobility, salary, work life balance,

    Cons

    company politics dominate middle management, getting things done quickly and efficiently

    Advice to Management

    communicate, listen, deliver

  8. "Culture with merge"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in City of London, England (UK)
    Current Employee - Anonymous Employee in City of London, England (UK)
    Disapproves of CEO

    Pros

    They have fairly good benefits.

    Cons

    It could be a good place but there is so much political drama - one would think Merrill Lynch rescued Bank of America and not the other way around. There is a witch hunt going on with trying to rid the company of all BofA employees in London. It is not a pleasant place to be at the moment.

    Advice to Management

    Please take a look at the surge of hiring several people for the same job/coverage. You need to rein in the out of control senior management in the London FICC & Equity divisions with trying to create a better working culture.


  9. "Good place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in City of London, England (UK)
    Current Employee - Vice President in City of London, England (UK)
    No opinion of CEO

    Pros

    Good working hours and interaction with other teams in the organization. Overall good workplace

    Cons

    Large organization with integration issues of ML still to be resolved over the next 1-2 years.

    Advice to Management

    Get the merger fixed.


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