Bank of America Financial Services Reviews | Glassdoor

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Bank of America Financial Services Reviews

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Found 11 reviews

2.8
StarStarStarStarStar
Rating TrendsRating Trends
33%
Recommend to a Friend
11%
Approve of CEO
Bank of America CEO Brian T. Moynihan
Brian T. Moynihan
3 Ratings
  1. "Engaged in preparing and issuing standard Import/Export letters of credits and amendments for final payment and settleme"

    StarStarStarStarStar
      Current Employee - Trade Finance Services Specialist in Charlotte, NC

      I have been working at Bank of America full-time for more than 2 years

      Pros

      Determined the discrepancies within the documents and approving then on the behalf of the bank by reviewing, auditing, tracing and researching trade finance documents.

      Cons

      Entered OFAC (OFFICE OF FOREIGN ASSETS CONTROL) nouns from the set of documents into Kofax system for review form the compliance department.

      Bank of America2017-07-25
    • "Spread Sheet Managment"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Financial Services Advisor 
      Doesn't Recommend
      Neutral Outlook
      Disapproves of CEO

      I worked at Bank of America full-time for more than 4 years

      Pros

      Some of the best benefits out there. Health, 401k, tuition reimbursement, Green car and banking benefits are excellent

      Cons

      Micro Managment is the name of the game. You are faced with myriad tasks around each client interaction. Using multiple systems to track and document disclosures, preselected offers, and future opportunity. This would be fine if it was part of pipeline management but you must track your pipeline yourself. You routinely do not get credit for work you do. As to being a financial advisor, forget it. You have basically...

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      Advice to Management

      Senior management slogan of "Responsible Growth, no excuses," is all you need to know. Frontline management needs to advocate for employees. Customers first would be a novel idea to try as well.

      Bank of America2018-02-28
    • Helpful (2)

      "Know the rules and you'll succeed"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - FSA - Financial Services Advisor in New York, NY
      Recommends
      Positive Outlook
      No opinion of CEO

      I have been working at Bank of America for more than 4 years

      Pros

      - variable comp is consistent if your consistent - you can look like a star by taking advantage of everyone's negativity and whining - home office FSAs are for the most part book smart and that's about it. Very easy to take advantage of their lost opportunity when a client follows up with an actual human and not a robot-like car salesman. - make your manager look good and you'll get the "financial advisor flexibility...

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      Cons

      - if a manager dislikes you start looking elsewhere because you'll be stuck in the same position forever - strict schedule; work-life balance really took a hit here over the last 2 years. Contributes to the negativity that spreads like a disease - if mgmt catches you feeding on that negativity they won't help you with anything. Unfortunately this drags down overall production because you wind up training tenured colleagues...

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      Advice to Management

      Advice to FSAs' direct reports- recognize each FSAs priority at Edge, don't assume our goal is to get the best paying position. Advice to segment managers- recognize and remember what our day to day consists of. To reduce turnover and keep talent, move the top FSAs to where they should be, demote FSAs who got lucky in a prior segment and make exceptions and offers more often since the top talent is who will drive office...

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      Bank of America2017-05-05
    • "Great Benefits"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - Financial Center Customer Service Representative in Charleston, SC
      Recommends
      Positive Outlook
      No opinion of CEO

      I have been working at Bank of America full-time for more than 6 years

      Pros

      Great insurance and bonus perks such as reimbursement for child care expenses, paid maternity leave, health programs and dental and vision insurance. Competitive pay.

      Cons

      Always short staffed. My team works well together but getting upper management to hire the staff our branch needs is near impossible. Then they pester you about not meeting sales goals, when your branch is so understaffed that you have new accounts walking out the door because the wait time is so terrible.

      Advice to Management

      Hire enough employees to staff the branches.

      Bank of America2017-05-12
    • Helpful (3)

      "Merrill Edge"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Financial Services Advisor in San Antonio, TX
      Doesn't Recommend
      Negative Outlook
      Disapproves of CEO

      I worked at Bank of America full-time for more than 4 years

      Pros

      Has great benefits and a very competitive base salary + bonuses

      Cons

      No direction, no communication, bankers should be licensed

      Advice to Management

      More communication between upper management. Communication between bank and Merrill.

      Bank of America2017-02-03
    • "Financial service associate"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - Financial Service Associate in Houston, TX

      I have been working at Bank of America for more than 2 years

      Pros

      Pay and great work life balance, love the people and my team

      Cons

      nothing so far since i am working there

      Bank of America2016-12-13
    • "Customer service representative"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Financial Center Client Service Representative I in Chesterfield, MO
      Recommends
      Positive Outlook
      Approves of CEO

      I worked at Bank of America part-time for more than a year

      Pros

      Bank of America is a great place to work for. The team I worked with was awesome. They were amazing people. The bank has great management. Great benefit. Good paid. Ethical business.

      Cons

      Since the bank is doing their best everyday to please customer. Some customers just feel too comfortable to be rude to bank associates helping them to meet their financial needs. Most customers are good, but there are many rude customers out there.

      Advice to Management

      I would like to thank Bank of America management for giving me opportunity to work for the bank. I learned and grew a lot from the experience. Unfortunately, my family had to move out to area where there is no Bank of America I can apply for.

      Bank of America2016-09-28
    • Helpful (10)

      "Terrible leadership, unreasonable expectations and management that has never done the job."

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - FSA - Financial Services Advisor in Northwest, NC
      Doesn't Recommend
      Negative Outlook
      Disapproves of CEO

      I have been working at Bank of America full-time for more than 4 years

      Pros

      I can help people, if I do what's right (may not keep my job) 60k salary, only open 9-6 5 days per week, only expected to work every other Saturday. Unbelievable turn over of management if the are good they will quit (2) incompetent they will get transferred (2) and if they truly do not care about their subordinates' they get promoted (4) that's close to 10 managers in 3 years. The good part is they don't last.

      Cons

      Micro management. Goals increase 50 to 100 percent per year. No support in paperwork. Technology circa 1990 no kidding DOS based framework. One client meeting is needs to be documented in a minimum of 4 separate systems, and maybe 6 or 7. Back office is incompetent. No training on banking system, most managers have never used the system so they have no clue. No training on appropriate investments just a list of approved...

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      Advice to Management

      You say that you want to make financial lives of our clients better, but you do not care about your own people. Your focus is on how many credit cards were sold per hour, how has that made anyone's (corporations are not lives) life better. Stop paying lip service to helping people financially, and selling them a high cost, under preforming managed investment account, or a credit card that makes them feel good, short...

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      Bank of America2016-07-01
    • "Financial Center Client Service Representative I (Teller)"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - Financial Center Client Service Representative I in New York, NY
      Doesn't Recommend
      Negative Outlook
      No opinion of CEO

      I have been working at Bank of America

      Pros

      Part-time employees get full-time benefits

      Cons

      Almost always understaffed and work schedule of 8+ hours in a day leads to quick burnout and decreased job satisfaction. No incentives/bonuses for teller referrals. Outdated processes and technologies. The pay could be better for tellers, who actually do a lot more than just being a 'teller'. All and all, it really depends on who your manager is. If you have a good manager, then work will be enjoyable. If not, then...

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      Advice to Management

      Invest in employees who take initiative and go the extra mile. Managers should preferably be hired from within instead of hiring managers from the outside who have little to no banking experience or little/no experience in Bank of America processes.

      Bank of America2016-05-31
    • "Customer Service Representative I"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - Financial Center Customer Service Representative in Centreville, VA
      Recommends
      Positive Outlook
      Approves of CEO

      I have been working at Bank of America part-time for more than 2 years

      Pros

      Work in a friendly environment that provides lots of incentives.

      Cons

      If something is wrong with the clients account they blame "you" even though you may not have ever met them in your life.

      Advice to Management

      Keep up the good work on making sure all of operations is going according to plan.

      Bank of America2016-04-04
    Found 11 reviews