Bank of America Reviews in Los Angeles, CA | Glassdoor

Bank of America Los Angeles Reviews

Updated September 18, 2017
1,004 reviews

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Los Angeles, CA Area

3.4
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
457 Ratings

1,004 Employee Reviews

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More Pros and Cons

  1. "Need less micromanagement and more effective ability to promote as a top performer"

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

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

    Pros

    Uncapped bonus, top 5% take home north of 6000$ quarterly bonus, the new hookup with merril is a decent advancement opportunity in addition to the Us trust recruiting

    Cons

    Micromanagement to the max. You give one person a debit card then have to do 20 mins of paperwork. Open one checking and you're looking at pulling the operations manager from the tellers to verify you've provide disclosures.

    Advice to Management

    Should be getting an Annual sales bonus and profit share as well as preferred stock option.


  2. "Registered Financial Advisor - BAML PMD Trainee"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor Trainee in Santa Monica, CA
    Former Employee - Financial Advisor Trainee in Santa Monica, CA
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    -Evolving Program: Optional new team structure for on-boarding financial advisor trainees
    -Good Employee Benefits: Good health insurance options and employee discounts
    -Great Training Program: Structured virtual and classroom trainings that prepare you for both licensing exams as well as sales trainings

    Cons

    -High Account Minimums: Difficult for new account openings for financial advisors
    -Extra Non-Paid Work: Potential to be forced to work longer hours than the industry regulated max
    -Long Path to Success and Prosperity: If you are in the sole practitioner program it's difficult to graduate and make decent money

    Advice to Management

    BAML should require all new financial advisor trainees entering the PMD program to be on a team rather than allowing them to be a sole practioner. If a trainee has never been in the wealth management business, a team structure provides a better opportunity to succeed and stay in the business to either grow with their team or go out on their own after a few years.

  3. "Senior Paralegal"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Paralegal in Thousand Oaks, CA
    Former Employee - Senior Paralegal in Thousand Oaks, CA
    Recommends
    Neutral Outlook

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

    Pros

    Great benefits for it's employees I ncluding 401k

    Cons

    Too many lay offs even for long time employees


  4. "The Great Things About The Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Consultant in Monrovia, CA
    Former Employee - Consultant in Monrovia, CA
    Recommends
    Positive Outlook

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

    Pros

    They provide lots of training and support. They are flexible with your schedule and encouraging for taking classes to further your opportunities. They offer great pay & bonuses.

    Cons

    They really don't have any cons and it's a really comfortable place to work.

    Advice to Management

    I suggest they be a little more hands on concerning learning new things.


  5. "Great Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Lending Consultant in Los Angeles, CA
    Current Employee - Lending Consultant in Los Angeles, CA
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    I have worked for Bank of America off and on since 2009. This is a great company to work for. The training programs are excellent and the professional opportunities are vast.

    Cons

    However, the team you work with is really what makes or breaks your career. If you don't have a manger who supports or believes in you, you won't go anywhere. At Bank of America, I have had five different managers and only two of them really pushed me to exceed. They felt that my advancement marked how successful they were at their job. The other three felt that I was simply a number. A faceless employee who was there to make them look good.

    Advice to Management

    Believe in and support your team. Success is defined in many ways... not just financial.


  6. "Working at BofA"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investor Reporting Analyst in Thousand Oaks, CA
    Current Employee - Investor Reporting Analyst in Thousand Oaks, CA
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Friendly people, work-life balance, large organization provides large network

    Cons

    Lack of growth opportunities, some managers are encouraging while others can stifle growth and make day-to-day difficult.


  7. Helpful (1)

    "Safe Job"

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

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

    Pros

    BofA provides a welcoming work environment with structure and stability. The Company offers great perks (401k matching, health benefits) and really drives a culture of diversity and inclusion. Out of all the big banks, I believe BofA has garnered a better reputation and instills a risk framework that drives responsible growth. Upper management is strong.

    Cons

    A desk job with little room to move up besides the annual promotion. Because BofA is a regulated institution, much of your work involves compliance and related issues. As well, it is a very bureaucratic structure and it is very easy to get lost in the different lines of businesses. Minimal feelings of empowerment.

  8. "Sr. Customer Service to Sales"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Customer Service to Sales in Pasadena, CA
    Former Employee - Senior Customer Service to Sales in Pasadena, CA

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

    Pros

    weekly training meeting, review and refresh the bank regulation.

    Cons

    Availability is a big hurt.


  9. "check fraud analyst"

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

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

    Pros

    good benefits, good 401K match

    Cons

    company hires many contractors and no room for promotion within the company.

    Advice to Management

    please consider internal talent for promotions


  10. "Commercial Treasury Specialist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Commercial Treasury in Brea, CA
    Current Employee - Commercial Treasury in Brea, CA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Many opportunities available outside Treasury

    Cons

    Training needs improvement by hiring qualified trainers

    Advice to Management

    Advancement needs to be based more so on qualifications instead of who you know.


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