Bank of America Reviews in New York, NY | Glassdoor

Bank of America New York Reviews

Updated April 26, 2017
695 reviews

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New York, NY

695 Employee Reviews

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Pros
Cons
  • Work/life balance can trend exceedingly work-heavy (in 413 reviews)

  • Communication from upper management to floor not consistent" (in 365 reviews)

More Pros and Cons

  1. "Portfolio Management Officer 1"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Credit Underwriting Analyst in New York, NY
    Current Employee - Credit Underwriting Analyst in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    solid benefits, decent salary, excellent volunteer opportunities and affiliate networks

    Cons

    lack of mobility across departments; senior management has no vision on how to develop younger employees; salaries flat line quickly; decisions are dominated by corporate strategy and 'improvement' teams due to the size and scale of the company

    Advice to Management

    develop younger employees; manage with more clarity and appreciation


  2. "good average"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Audit Supervisor in New York, NY
    Current Employee - Senior Audit Supervisor in New York, NY
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    comprehensive benefits package that includes medical, dental and vision coverage for employees and their eligible family

    Cons

    No moral and culture in this company


  3. "Pros and Cons"

    Star Star Star Star Star
    • 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
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Big multi national company with lots of resources and generally good individuals

    Cons

    Culture, trickling from the absolute top down


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  5. "Sales & Trading"

    Star Star Star Star Star
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Good hours, motivated co-workers, plentiful resources

    Cons

    Poor transparency from management.


  6. "IT PM BOA"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Project Manager in New York, NY
    Current Employee - IT Project Manager in New York, NY
    Positive Outlook
    Approves of CEO

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

    Pros

    Stable company. Average salary. Great co-workers

    Cons

    Unclear management direction and challenging upward mobility.

    Advice to Management

    Define and simplify process


  7. "Teller"

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

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

    Pros

    Flexible hour, team work, happy coworkers, and chances to grow.

    Cons

    Didn't have any cons to say about it.

    Advice to Management

    No advices to give at the moment,


  8. Helpful (1)

    "Technology Associate Program - RUN AWAY"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Technology Associate in New York, NY
    Former Employee - Technology Associate in New York, NY
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    I was in the Technology Associate Program (TAP) at Bank of America for a little over a year and a half. I'm writing this review because I wasn't able to find one when I joined.

    Some pros:
    1.) If you're interested in finance, it's not a bad place to be. BofA is a recognizable name and the program is supposedly well regarded.

    2.) Most of the people I worked with were friendly and enjoyable to be around.

    3.) The hours are reasonable - everyone I worked with left work by 6 pm everyday. If you aren't based in NYC, it's probably earlier than that.

    4.) 15 days of vacation is pretty good for finance, especially when you've just graduated from college.

    Cons

    Oh, the cons. There are many.

    1.) They continue to pay the class of TAPs the following year more money without offering the same realignment to the current class. For instance, the 2014 and 2015 TAPs in NYC were paid 71k. In 2016, they were paid 85k. I left before hearing about the 2017s, but because BofA is trying to be competitive with Goldman and JP, it's likely more.

    2.) When you're promoted to AVP in two years, you (probably) won't get a significant raise. You will only get a raise if you have another offer from another company.

    3.) They try to claim that they "teach" you finance, but the reality is that most trading desks are more complex beyond what they teach you in training. It will take 6 months to a year to feel like you're actually doing any work.

    4.) You have absolutely no say as to what team you will end up on. If you end up on a Front Office facing team that uses Quartz, great! You'll get more visibility and probably more money if you stay there for years, and valuable experience since Python and Quartz are in-demand skills. But, if you end up on a Back Office team or doing ASD (support) work, you won't get much exposure or transferable skills and will be stuck at BofA forever. Trust me, the recruiting teams will try to convince you otherwise, but the reality is that a significant number of TAPs end up in a back office role on a team that has nothing to do with trading.

    5.) If you're female or white or both, you will be in the very, very vast minority unless they're now able to attract a higher caliber of candidate with the increased salary. Most people in the program are Asian males.

    Really glad I was able to get out of this place. The TAP program allowed me to get my foot in the door in NYC, but once I realized that I wouldn't advance at all, I got the skills I wanted and got out. If you're desperate enough to take their offer, I encourage you to do the same.

    Advice to Management

    You talk about lowering the average age of the bank constantly and glorify the TAP program to an extreme. However, there isn't much connection between the supposed regard of this program and the way that TAPs are treated. It's great that you're finally getting your stuff together and paying them market rate for software engineering, but you will NEVER retain the TAPs with legitimate skills since working at BofA isn't as great as working at a tech company, AND salary reviews aren't done unless it's year end and you have a counter offer. You really need to offer something beyond the standard corporate environment if you want to stay competitive with the tech industry.


  9. "Big bank environment - easy to get lost in the shuffle"

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

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

    Pros

    People for the most part are nice. The Bryant Park location is a nice office to work in.

    Cons

    VERY political and a big brother type of environment. Many are scared to do anything for fear of losing their jobs. Tough to get anything done

    Advice to Management

    Enough with the politics and take care of your employees. Stop treating them like disposable entities.


  10. Helpful (1)

    "Office Assistant"

    Star Star Star Star Star
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY

    I worked at Bank of America part-time (Less than a year)

    Pros

    Always so much to learn on the job, many opportunities for career advancement, people were so great and always so much fun to work with.

    Cons

    Some of the regulations working at a bank are cumbersome. The tasks can be very menial and repetitive, get boring after a while.

    Advice to Management

    While management is actually pretty good, my advice would be to let go of some of the restrictions, and let their employees off on their own a bit, give them more freedom.


  11. "Financial Analyst Review"

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

    Pros

    Great Caliber of People, very good growth opportunities. No work life balance in the trading floor area. Expected to come early and leave late. Provided with a phone and required to answer e-mail and phone calls on weekends.

    Cons

    Too many management changes. Sometimes very disorganized and too many egos to deal with. Too big of an organization. Can feel like just a number.


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