Bank of America Merchant Services Assistant Vice President Reviews | Glassdoor

Bank of America Merchant Services Assistant Vice President Reviews

Updated Aug 27, 2018

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Found 22 reviews

1.2
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Rating TrendsRating Trends
7%
Recommend to a Friend
5%
Approve of CEO
Bank of America Merchant Services CEO Tim Tynan  (no image)
Tim Tynan
9 Ratings
  1. "Good atmosphere"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Assistant Vice President in Dallas, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Bank of America Merchant Services

    Pros

    You get treated like you should, like an adult who can do his job. It was fun and I considered laid back despite that they asked if you made a sale often. Team contests ran everyday and everyone was their to help one another. The management was stern and helpful at the same time. I liked that because at the end of the day we are their to sale. We had easy way of getting leads and self sourcing was encouraged. I... loved it there.

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    Cons

    None. The place was great.

    Advice to Management

    none keep it up!

    Bank of America Merchant Services2015-07-28
  2. Helpful (4)

    "Unorganized, comp plan so complicated mangers can’t explain it."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Assistant Vice President 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Bank of America Merchant Services full-time for more than 8 years

    Pros

    Used to be a great place with good pay, not anymore

    Cons

    Low base salary, confusing comp plan, no advancement opportunities.

    Advice to Management

    Be upfront about changes being made and how this effects compensation. Comp plan is so confusing even when doing well “modifiers” can completely eliminate your monthly commissions.

    Bank of America Merchant Services2018-08-27
  3. Helpful (1)

    "Good Income Potential"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Assistant Vice President in Richmond, VA
    Recommends
    Negative Outlook
    No opinion of CEO

    I worked at Bank of America Merchant Services full-time for more than a year

    Pros

    Good earning potential with hard work.

    Cons

    Must compromise integrity in some instances.

    Bank of America Merchant Services2018-02-13
  4. "Sweat shop"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Assistant Vice President in Richmond, VA
    Recommends
    Negative Outlook
    Approves of CEO

    I worked at Bank of America Merchant Services full-time for more than 5 years

    Pros

    None that I can think of

    Cons

    After training, there's very little learning curve. Management is lousy and your success is solely based on performance of remote branches and their sometimes lousy leads.

    Advice to Management

    I'd like to see them sink or swim like the employees

    Bank of America Merchant Services2017-09-21
  5. Helpful (1)

    "AVP"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Assistant Vice President in Margate, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Bank of America Merchant Services for more than a year

    Pros

    Backed by First Data is a plus.

    Cons

    Lacks true leadership. Hiring friends and family. Promoting friends & family. Low morale at site.

    Advice to Management

    Look at VPs, SVPs and HR. Stop looking at low level staff and see what your management teams are doing to the business.

    Bank of America Merchant Services2015-10-26
  6. Helpful (1)

    "Merchant Solution Specialist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Assistant Vice President Merchant Solutions Specialist in Dallas, TX
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Bank of America Merchant Services full-time for more than a year

    Pros

    Initially you can make decent money and the environment "appears" jolly.

    Cons

    The inside sales teams(call center) have little to no training in true merchant processing. From equipment knowledge to pricing methods. After a while, since the inside sales team only handle small deals (under 50k in processing) the reps will experience BUYBACKS or in other words refund in commission. Yes the company will take back your hard earn money if the client cancels their lease or can't afford to pay it any... more. Management is worse with experience. They hired banking center managers with less merchant experience. They don't even know the systems to type applications and submit deals. No room for growth, they make promises but are more concerned in being profitable for IPOs. They will be lying to you if they say you will make over 60k, I'd say only the top 5% can make over 60k on the inside sales teams.

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    Bank of America Merchant Services2015-10-18
  7. Helpful (2)

    "Business Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Assistant Vice President in Overland Park, KS
    Recommends
    Negative Outlook
    Disapproves of CEO

    I have been working at Bank of America Merchant Services full-time for more than 3 years

    Pros

    Great money and work life balance. Company provides all necessary tools such as cell phone, tablet, wireless card.

    Cons

    First Data ownes majority of the Company of which First Data is owned by KKR. KKR is the devil themselves, they create a culture of stress and confusion by demanding layoffs and unannounced compensation plan changes.

    Advice to Management

    Look for talent from within. Your First Data cronies are bringing the wrong culture. Ask yourself why did you leave First Data and now bringing their trash to BAMS.

    Bank of America Merchant Services2015-08-12
  8. "Bad management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Assistant Vice President Merchant Solutions Specialist 
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Bank of America Merchant Services

    Pros

    Freedom and virtual office is the biggest perk.

    Cons

    Poor management. Always threatening you. Horrible culture. Accounts that you get cancel so recoup is high. Which branch you get matters. No raise to base ever!

    Bank of America Merchant Services2015-08-15
  9. Helpful (1)

    "Not a long term gig!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Assistant Vice President- Merchant Specialist 
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Bank of America Merchant Services full-time for more than a year

    Pros

    Bank name and leads help, but the territory/branch matters,virtual office and that is it!!!!

    Cons

    Bad company culture. You cant understand your comp plan on PURPOSE. No real training( 1 week only), just learn as you go. The money is not good, just okay. You can make more money if you work like 12 hours a day. They will threaten to write you up for everything for everything. Churn is very high for your clients(cancel a lot ). Residual not really a good thing. High turn over with employees also

    Bank of America Merchant Services2015-06-11
  10. Helpful (1)

    "AVP Merchant Solutions Specialist"

    StarStarStarStarStar
    • Compensation and Benefits
    • Senior Management
    Assistant Vice President Merchant Solutions Specialist in Coral Springs, FL
    Doesn't Recommend

    I worked at Bank of America Merchant Services

    Pros

    Really clean secure building. Restaurant on site. Good sales training seminars. Good benefits. 9-5 basic work day.

    Cons

    Went away for training for two weeks after receiving offer. The commission structure was changed for the worse the day I got out of training. Daily sales meeting was typically a kill joy and negative. Management constantly "writes up" employees for complete nonsense. They may have a policy in place for this and may believe it is actually constructive. Who knows. Even the best ones, whom you would never suspect.... Sadly, most of the apparent top earners were actually getting recouped, which basically meant that they were more or less in a type of indentured servitude. Their checks could often be negative $2500, which they would have to pay back. If a customer doesn't activate their product or deactivates it within a certain amount of time, the employee gets recouped. Basically they completely lied about the compensation and the process, and it is a boiler room. Compensation is about 32K per year plus commission. Quickly cut my losses, resigned and ran as fast as I could. I felt that I had been deceived, and was being robbed of my time and skill set. It was absolutely ridiculous.

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    Advice to Management

    Be more positive and transparent.

    Bank of America Merchant Services2015-07-06
Found 22 reviews