Bank of America Reviews in New York City, NY | Glassdoor

Bank of America New York City Reviews

Updated May 20, 2018
1,127 reviews

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New York City, NY Area

3.5
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
475 Ratings

1,127 Employee Reviews

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

  • Communication with upper management can be difficult (in 433 reviews)

More Pros and Cons

  1. "great benefits"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Loan Officer in New York, NY
    Former Employee - Mortgage Loan Officer in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    the benefits were top notch when I was there

    Cons

    the managers were not the best in the industry but they tried.


  2. Helpful (181)

    "You'll need to manage your career there from day one"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President Technology Manager in New York, NY
    Current Employee - Vice President Technology Manager in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of America full-time (More than 10 years)

    Pros

    Stable, depending on manager you get a lot of support. Lots of benefits and resources at the corporate level. A friendly and collaborative environment that is less cut throat and better work life balance than the rest of the street.

    Cons

    Depends on manager, too much management, a lot of things need to get done but some managers are always looking for resources to manage but won't roll up their sleeves. You don't always have a well defined career plan if your manager needs you in your current position.

    Advice to Management

    HR and senior management need direct dialogues with employees, people are too dependent on personality, opinion and advice of their direct manager who will put their personal needs over the needs of the firm.

  3. "Investment Banking Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Banking Analyst in New York, NY
    Current Employee - Investment Banking Analyst in New York, NY
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Smart, hardworking and driven coworkers and senior members of the team. You learn a lot and get unparalleled exposure.

    Cons

    Very long hours, weekend work often, rigid corporate totem poll. As a junior member of the team, your time is not valued nor is your opinion.

    Advice to Management

    Need to implement work/ life balance seriously. There are very shallow and useless initiatives that exist to restrict junior bankers from working too much, but when push comes to shove those rules are ignored but senior members of the team. I am never truly off the clock and never feel relaxed, even on weekends, late at night or vacations.


  4. "Strong corporate culture, compensation and diversity challenges"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Approves of CEO

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

    Pros

    Welcoming corporate culture and endless career opportunities across business lines. The scale of the organization globally truly has its benefits.

    Cons

    Compensation in some groups continues to lag competitors.

    Advice to Management

    Diversity continues to be an issue in senior leadership. Company needs to develop and retain, promote diverse talent currently in the ranks.


  5. "Awesome"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Relationship Manager in Newburgh, NY
    Current Employee - Relationship Manager in Newburgh, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of America full-time (More than 3 years)

    Pros

    Best place in the US to work for, best benefits, best place to develop
    Nothing else to say and the best place to start a career and to look for he best benefits. The best place to work and the best development place for somebody to work

    Cons

    None, this company is great, I don’t think that there is nothing to complaint about boa, everything about the company is great.

    Advice to Management

    None


  6. "Benefits & career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Operations Manager in Succasunna, NJ
    Current Employee - Operations Manager in Succasunna, NJ
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great benefits for all employees

    Cons

    Less compensation in operations role


  7. "Avoid"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President in New York, NY
    Former Employee - Vice President in New York, NY
    Doesn't Recommend
    Neutral Outlook

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

    Pros

    -Good Work life balance relative to other investment banks

    Cons

    -Bureaucratic
    -It is common knowledge at the band 5 or higher level, that BOA hires and fires capriciously in response to regulatory whims.
    -Prospective job applicants be wary-BOA pays very competitive salaries but does not provide severance packages to laid off employees
    -They will lay you off the second they can find a young foreigner on an H1 Visa who they think they can replace you with more cheaply even though the person can barely speak or write in English coherently..
    -Steer clear as full time employee, best to work for them as contractor

    Advice to Management

    -Hire contractors rather than hiring and firing people capriciously
    -You are taking a lot of reputational risk plus litigation risk.
    - go lower on the base and low on bonus rather

  8. "Poor Company Culture, Long Hours"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations Analyst in New York, NY
    Former Employee - Operations Analyst in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Competitive pay, good benefits, long term maternity/paternity leave

    Cons

    Hours, management, poor teammates/teamwork, hierarchy structure

    Advice to Management

    Catch up to other leading banks technology wise, reduce number of managers and increase number of teammates, work to encourage a more cohesive team environment


  9. "GCSS Bank of America"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President in New York, NY
    Current Employee - Assistant Vice President in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    You get discounted Yankee tickets

    Cons

    No trainings/lack of proper trainings
    Terrible on-boarding
    Terrible technology
    Lack of leadership
    Constant game of telephone
    Lack of leadership
    Toxic work environment
    Terrible culture
    Upper management gets defensive when you give them constructive criticism
    Unprofessional
    Lack empathy
    Upper management is racist

    Advice to Management

    Upper management needs training on emotional intelligence in order to create a work environment where people feel like their work is appreciated and they can add value.


  10. "Great team and culture"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Comp & Benefits
    • Senior Management
    Former Contractor - Principal Software Developer in New York, NY
    Former Contractor - Principal Software Developer in New York, NY
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Bank of America as a contractor (Less than a year)

    Pros

    I can say about the Merrill Lynch part of BofA from Software Engineer perspective. Great team, great people to work with. Technical side is pretty diverse, with variety of approaches and technologies. I never have a boring experience here.

    Cons

    The WFC office a kind of outdated with 1970-sh desks, small kitchenettes and crowded bathrooms. Central office is much better. For some people the office space quality could be deal breaker, despite it is possible to make work place a little bit better with ergonomics package.

    Advice to Management

    Management is pretty good. I would just advise to improve all offices to moder standards with stand/sit desks and high ppi monitors.


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