Bank of America Reviews in Providence, RI | Glassdoor

Bank of America Providence Reviews

Updated August 27, 2018
99 reviews

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Providence, RI Area

2.6
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
45 Ratings

99 Employee Reviews

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Pros
Cons
  • "Work/Life balance can be overwhelming" (in 506 reviews)

  • "Lack of communication in upper management" (in 441 reviews)

More Pros and Cons

  1. "Awesome"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Preferred Sales in Lincoln, RI
    Current Employee - Preferred Sales in Lincoln, RI
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great company,great benefits, great people and environment

    Cons

    There are no cons! Great environment


  2. Helpful (1)

    "Toxicity is spreading"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Lincoln, RI
    Current Employee - Anonymous Employee in Lincoln, RI
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Great Benefits and great coworkers.

    Cons

    When I first started with the bank almost 4 years ago, the environment was that of excitement for the future. Innovation was on the way, great new tools were coming available to help us better serve the clients.

    My first job was in one of our financial centers. The banks model was to expect us to achieve ridiculous sales goals, while simultaneously driving the customer away from the in person service to digital and phones, by slashing the amount of staff on hand in a Financial Center. Couple that with a micromanagement philosophy, that frankly, has redefined that word.

    From there I moved to the call centers. At first it was a nice change. Fast paced, but if you wanted to take a minute or two to converse with you cube mate, no one cared. If was a fun atmosphere. It did not take long for the toxicity to spread, however. Currently, the expectation is to log in at the start of your shift and do not log off your phone unless it is one of your 15-minute breaks or your thirty-minute lunch. Every second of your time is tracked. Every single second of your day must be accounted for. Couple that with the banks other philosophy of " responsible growth". That is code for doing more with less...far less across the board. The staffing levels in my particular department were so low that the customer hold times were more than 90 minutes, with an abandon rate of over 50%. Yet they expected us to, in addition to sales, have near perfect customer satisfaction scores.

    Management...here his a key point. Very few of the remaining managers in preferred sales/Advanced Client Solutions have EVER done your job. The one that have all left, and their replacements are nothing more than well-trained company "yes men". They do not care about you the employee. They only care about advancing their own careers. They are perfectly content pushing policies and procedures that make zero sense, because at the end of the day...they don't have to do your job.

    To be fair, there are great departments in the bank, that are more in line with what they advertise on their career page. But I would not, under any circumstances recommend anyone work as a front-line customer service/sales rep.

    Their yearly "employee satisfaction survey" is a joke. They actually have each team in my department take the survey together, in a separate room and have a manager in there coaching us on all of the great things that came out of the survey in previous years, etc etc. They even give us candy. There are always big changes that some after the survey is over....just not good ones. We have a year to quit or forget.

    Advice to Management

    Bring in people that will actually voice their own opinions,not parrot what the big guy at the top is saying, all drunk on the koolaid.

  3. Helpful (1)

    "Sales Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales Manager in Lincoln, RI
    Former Employee - Sales Manager in Lincoln, RI
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    It's a job and that's it.

    Cons

    At least 1 person is being walked out the door or quitting a week. I'm not quite sure why, but maybe it is because of new management. At least that is what the people are complaining about in the hallways.

    Advice to Management

    An environment where everyone has two strikes and can get kicked out at 3 sucks. Too many people have 2 strikes because management changed, couldn't do their job and failed their employees. Everytime you fir a new manager, it's like they start dishing out penalties week 1 and kill momentum, event on the best teams. Because naturally when you have two strikes, people will stop swinging for the fences. Right? I'm pretty sure this learning experience will cost you a pretty penny. And unfortunately, the moves have already been made. Your stock is dropping. People want to leave. It's not fun.


  4. "Worst Job EVER!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Preferred Senior Sales in Lincoln, RI
    Former Employee - Preferred Senior Sales in Lincoln, RI
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Up to 4 weeks time off. Hourly Pay. Good starting job for entry level sales looking for a temporary job until something better comes along

    Cons

    Worst job I have ever had by a very large margin. This position was a good idea at first as we occasionally dealt with preferred customers and had sales opportunitys. Then someone took over and made everyone absolutely miserable. The last two years we were all constantly threatened and Micro Managed and dealt with the worst service calls imagineable while our sales goals and stress went through the roof.. Highest turnover ever. I watched many good sales people leave,get fired and get replaced by entry level young agents. Management was horrendous. Call routing was rigged beyond belief as some agents everyday got great sales opportunitys which enabled them to make big commissions and reap praise. Others got horrendous calls all day with irate,broke tier one problem calls.Hundreds of ways for them to dock your commissions and be reprimanded. Friends and Family of Managers were hired and promoted. Site leads were clueless. The company only cares about the almighty dollar and made this position at BOA the absolute worst job imagineable.

    Advice to Management

    Start at the top of Preferred sales because most everyone is miserable working in this part of BOA


  5. Helpful (1)

    "Investment Specialist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Specialist in Lincoln, RI
    Former Employee - Investment Specialist in Lincoln, RI
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at Bank of America full-time (More than 5 years)

    Pros

    Great colleagues working hard to deliver first class service on complex Merrill Self Directed Account brokerage accounts.

    Cons

    No sales training - but you must make goals. Huge turnover = exhausted staff . Not enough staff servicing clients to train others.

    Advice to Management

    Bank executives are running call center without understanding the complexity of the accounts = unnecessary turnover, staff burnout and clients leaving.


  6. Helpful (1)

    "Retirement Help Desk"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Consultant in Providence, RI
    Former Employee - Investment Consultant in Providence, RI
    Doesn't Recommend
    Negative Outlook

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

    Pros

    Benefits, sponsored to get licensed,

    Cons

    too many changes happen without enough review and associate training. no one seems to know what is going on half the time.

    Advice to Management

    better training


  7. "Senior Project Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Project Manager in Providence, RI
    Former Employee - Senior Project Manager in Providence, RI
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Effective Project Management methodologies are mature, disciplined and supported throughout the organizations of which I was employed.

    Cons

    Must have keen ability to multi-task to be effective.

  8. "Doesn't care about its employees!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Relationship Banker in Providence, RI
    Former Employee - Relationship Banker in Providence, RI
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Reasonable Pay, Building security,
    Cafeteria, weekends off.

    Cons

    To the company you are no more that just a number. The best hours were given to "favorites" rather than by seniority. One year we didn't quite make our quota and we're denied our bonus, however the CEO got his bonus of $24mil!
    All around this place was a joke! I could go on and on...


  9. "Team manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Team Manager in Providence, RI
    Former Employee - Team Manager in Providence, RI
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Bank of America full-time (More than 8 years)

    Pros

    Coaching and development still a key function.

    Cons

    Political. Core values not embrace by all management. Execution does not follow vision.

    Advice to Management

    Skip levels should be a requirement. Two day executive trips do not provide an accurate view. Challenge all to do better.
    See associates as people not employee id's. Associate sat scoring method is ripe for cheating.


  10. "Great company but difficult advancement"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Consultant in Lincoln, RI
    Current Employee - Investment Consultant in Lincoln, RI
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Great benefits. Large organization with many different areas to explore. Great national presence with a well reputed brand. If willing to relocate there is a lot of expansion.

    Cons

    Advancement can be based on who you know. Can be overlooked even with more than enough qualifications for a role if you haven't taken the exact path upper management wants. Salary can be on lower end in industry

    Advice to Management

    Recognize talent and that they can come from diverse areas of expertise. Don't pigeonhole talent into specific sequential pathing.


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