Bank of America Reviews in Providence, RI | Glassdoor

Bank of America Providence Reviews

Updated April 19, 2018
96 reviews

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Providence, RI Area

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

96 Employee Reviews

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Pros
Cons
  • "Bonuses Training Work life balance" (in 492 reviews)

  • "Communication with upper management can be difficult" (in 435 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)

    "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.

  3. 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


  4. "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.


  5. "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...


  6. "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.


  7. "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.

  8. "Preferred Relationship Specialist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Lincoln, RI
    Former Employee - Anonymous Employee in Lincoln, RI

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

    Pros

    Great benefits, nice coworkers, helpful immediate managers. The bank has very high ethical standards dealing with clients, and really does try to sell with integrity.

    Cons

    This is a call center. Electronic monitoring of calls results in digital micromanagement and very high stress rates. There was minimal room to advance in Preferred Sales.

    Advice to Management

    Quality people are leaving due to excess stress. Consider the onboarding costs for new employees and start treating employees like people.


  9. Helpful (1)

    "Preferred Sales"

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

    I worked at Bank of America full-time

    Pros

    Great work environment. Company makes sure your're successful within your position. There is a lot of growth opportunities available.

    Cons

    Bank of America has many strict policies that must be followed. Turnover rate for preferred sales is high. Strict schedule.


  10. "Relationship Manager"

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

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

    Pros

    Benefits are great. I would say better than most big corporations, especially when it comes to family. They added more options regarding medical insurance.

    Cons

    Becoming a top performer doesn'the always mean a promotion or even that you'll be able to maintain your salary (for commission-elegible employees). They change the commission plan often in order to save themselves money.

    Advice to Management

    In business the bottom line is what matters but don't bite the had that feeds you. Your sales people won't be excited to continue to perform if you cut their income to improve your bottom line.


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