Bank of America Reviews in Los Angeles, CA | Glassdoor

Bank of America Los Angeles Reviews

Updated April 12, 2018
323 reviews

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Los Angeles, CA

3.1
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
143 Ratings

323 Employee Reviews

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Pros
Cons
  • Bonuses Training Work life balance (in 490 reviews)

  • Communication with upper management can be difficult (in 432 reviews)

More Pros and Cons

  1. "Quality Analyst"

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

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

    Pros

    The benefits are comparable with other home loan companies.

    Cons

    They downsize when the need apparent.


  2. "Business Support Manager"

    StarStarStarStarStar
    Former Employee - Business Support Manager in Los Angeles, CA
    Former Employee - Business Support Manager in Los Angeles, CA

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

    Pros

    Good Benefits, vacation, exposure to all aspects of the business

    Cons

    Middle management can be difficult to deal with

  3. Helpful (1)

    "Plug and play high volume sales mired by compliance"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Solutions Advisor in Los Angeles, CA
    Former Employee - Financial Solutions Advisor in Los Angeles, CA
    Recommends
    Negative Outlook
    No opinion of CEO

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

    Pros

    Good salary, benefits, and challenging evolving work environment.There is a good potential for lateral or upward mobility if you are a consistent performer and there is potential for bonuses on a quarterly basis.

    Cons

    Not for folks with families. There is no work life balance. Very mundane hours. 9-6. You will be one Merrill rep within a Bank of America branch and are seen as an outsider so you have to work really hard to win peoples trust which you have to do as you depend on the bank associates for client referrals which is the main way you will meet your goals. The problem is the bank associates are not properly incentivized to refer to Merrill Edge FSA’s. There are cliques and gossip queens everywhere. Do not upset the wrong people as they will make false things up to management or HR to ruin your reputation and try to get you terminated. Very stern work environment. Expectations to perform are very high. I could not leave the bank for a break without the bank staff getting upset which caused me to stop taking breaks. Overtime is not compensated.

    Advice to Management

    Adapt to evolving work environment of your FSA’s more quickly. Listen to their feedback instead of passing it off as complaints. Treat your FSA’s like executives instead of like problem making pupils. Be mindful of what you say and the tone in which you say it as you want FSA’s to have the same mindfulness with clients and bank staff. Spend the money once and for all to license your bank staff so you can incentivize the bank employees to make investment referrals.


  4. "Account Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Account Manager in Los Angeles, CA
    Former Employee - Account Manager in Los Angeles, CA
    Recommends
    Approves of CEO

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

    Pros

    Standard Operating Procedures are highly established.

    Cons

    Not much movement for career ladder


  5. "Good company, poor management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Relationship Manager in Los Angeles, CA
    Current Employee - Relationship Manager in Los Angeles, CA
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    all kinds of resources to learn

    Cons

    only few bankers can meet the goal, 1 of 5th

    Advice to Management

    The goal is unrealistic


  6. Helpful (6)

    "VICE PRESIDENT, Financial Solutions Advisor (Branch Based) but might as well be a personal banker"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President, Financial Solutions Adviser in Los Angeles, CA
    Current Employee - Vice President, Financial Solutions Adviser in Los Angeles, CA
    Doesn't Recommend
    Negative Outlook

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

    Pros

    It used a good place to start. BAC benefits pretty good. Pat/mat leave are longer compared to other companies. When Edge and BAC aligned their business lines, everything became more transactional and petty. Not to mention, you have your licenses but your doing banking stuff.

    Cons

    Many top FSAs open online accounts even though client has no desire to invest. Many of them say “you’ll get a better rate.” They would open these accounts via the client’s smart phone. Managers have let these unethical actions thrive and turn a blind eye since they’re getting paid as well. In my opinion, this is not an individual employee integrity issue but a failure of the whole compensation plan.

    Don’t let the VP title deceive you. I’ve Been working here for 5 years and the role has become more of a banker role and widget focused (just like WF Bank before the scandal). You don’t get paid to invest clients’ funds but get paid on new deposits to BAC. You do get paid though when you open investment accounts such as self-directed accts. Once you open the acct, you can forget your clients and on to the next (of course management will defend this by saying “we’re doing what’s right etc”). Even managers are aware that there’s no relationship management here since the FSA has no book of business.

    If you’re an experience advisor, stay away from this company - BANK OF AMERICA/MERRILL EDGE.

    Compliance managers are very petty. They’ll write you up for anything-seriously. Some FSAs have been fired for bank related issues and it showed in their U4s. Write-ups are management’s tool for you to be submissive.

    Advice to Management

    ELIMINATE MSM2s and RSMs and just have FSAs fully report to the bank side. These MSM2s and RSMs are typically inexperienced investment managers. They just took some FINRA exams and they’re now qualified for some reason. FSAs are essentially overpaid personal bankers. Hire fresh out of college emps or hire internally so they could get paid less.


  7. "lock box"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - California in Los Angeles, CA
    Former Employee - California in Los Angeles, CA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    great place to work at

    Cons

    location was in a busy place downtown

    Advice to Management

    global recognition

  8. "B of A"

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

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

    Pros

    Learn all aspects of banking. Consumer, business, and lending all are areas of focus. Working with a team to achieve goals.

    Cons

    No tools for success. Operating systems never work properly. Partners not available for achievement of goals.

    Advice to Management

    Provide proper tools to enable the ability to obtain goals.


  9. "Tiring "Continuous Change" with no end in sight ."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Security Specialist in Los Angeles, CA
    Former Employee - Security Specialist in Los Angeles, CA
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Great remuneration & benefits package

    Cons

    Tendency to make changes that achieve nothing except a rearrangement of those pesky deck chairs. Poorly run at the highest levels of management, resulting in stupid mistakes - loss of deep institutional knowledge due to layoffs. Whole departments gone the way of all things.

    Advice to Management

    Show some loyalty to your long-term employees. At times your cold clammy corporate heart can be glimpsed behind the curtains.


  10. "Retail Banker"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Los Angeles, CA
    Former Employee - Financial Advisor in Los Angeles, CA

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

    Pros

    You get a salary; for the most part, you can work banker hours.

    Cons

    You are combined with the retail banking platform; you will end up opening bank accounts.


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