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Bank of America Relationship Manager Reviews

Updated February 21, 2018
351 reviews

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Relationship Manager

3.4
StarStarStarStarStar
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Recommend to a friend
Approve of CEO
Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
169 Ratings

Employee Reviews

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Pros
Cons
  • Sometimes it can be difficult work/life balance (in 477 reviews)

  • terrible upper management leads to many people leaving the company (in 413 reviews)

More Pros and Cons

  1. "good place to learn"

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

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

    Pros

    The open role, learning many different concepts, a high-value position for fresh graduate. The benefit is awesome, strong backup and support.

    Cons

    Stressful and tense. Micromanagement.

    Advice to Management

    try to simplify the branch, match the pay to workload.


  2. "Sales"

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

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

    Pros

    Great hours of work for employees

    Cons

    Must know vacation 6 months in advanced

  3. Helpful (1)

    "Great corporate company to work for"

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

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

    Pros

    Preferred rewards benefits, 401k matching, commission and salary well paid (compared to market) if one works hard. Promotion from within, company invest in your own growth.

    Cons

    The Co Health benefits not covered 100%. Dental is no good even with the best plan offered. Salary needs a bump.

    Advice to Management

    As regulation increases and more procedures are implemented to follow such while goals and expectations continue to increase commission becomes more difficult to option, salary should be compensated.


  4. "Great Place"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Relationship Manager in El Paso, TX
    Current Employee - Relationship Manager in El Paso, TX
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Take control of your salary, commision wise, very laid back sales

    Cons

    micromanagement is terrible. Typical, "good job..but"

    Advice to Management

    none


  5. "Relationship Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Relationship Manager in Coral Springs, FL
    Current Employee - Relationship Manager in Coral Springs, FL
    Recommends
    Neutral Outlook

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

    Pros

    Over 11 years of experience in the Sales and Financial field, fluent in English and Portuguese, ability to easily engage in dialogue interacting well with others

    Cons

    Calm upset clients demonstrating concern and care. Resolving issues promptly or escalate as needed to promote client satisfaction. Manage multiple responsibilities while delivering results

    Advice to Management

    I'm Relationship Manager for over 5 years recognizing referrals for businesses partners and specialists, helping clients achieve their financial life priorities such as managing expenses/debt, building wealth, buying a home, savings and planning for life events.


  6. "High pressure sales, basically."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Relationship Manager in Glen Burnie, MD
    Current Employee - Relationship Manager in Glen Burnie, MD
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    Job is available to anyone in sales. Will learn a ton about the banking industry. Pay is good if coming from retail.

    Cons

    Training program is lacking. Seems to be a different program month to month when I speak to new hires. Most learning will be on your own. Quick to hold accountable, slow to coach

    Advice to Management

    Try to coach consistently, not only when the numbers are bad. Help those who are struggling, not just attempt to replace them.


  7. "Relationship manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Relationship Manager in Annapolis, MD
    Former Employee - Relationship Manager in Annapolis, MD
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Good company and great hours

    Cons

    Management Sucks and the company will ask you to do impossible task in one day.

    Advice to Management

    Stop favoring people you like and treat the only poorly

  8. "I am Thankful"

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

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

    Pros

    Give chances to young, unexperienced sales people. Lots of benefits, health, dental, vision, paid 2 week vacation, 401k, etc. Hourly rate pretty decent

    Cons

    Commission structure was one of the worst I have ever seen in my 7 years of sales experience. Also, they care a lot about the clients, which I respect, but care little about the employees.

    Advice to Management

    Focus more on the employees, show the same care you give to your Preferred Clients.


  9. "Good company, poor management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Relationship Manager in Los Angeles, CA
    Current Employee - Relationship Manager in Los Angeles, CA
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    all kinds of resources to learn

    Cons

    only few bankers can meet the goal, 1 of 5th

    Advice to Management

    The goal is unrealistic


  10. Helpful (3)

    "Good company overall"

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

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

    Pros

    The company has great benefits. Employees can take up to 16 weeks for paid parental leave when they have a new child (or when adopting one). The rest of the benefits are on par or better than the industry standards.

    The company also pays much better than most other major banks when it comes to base salary pay.

    Cons

    The biggest issue I have with the company is that it has a very aggressive sales culture and sellers are expected to meet their goals every month regardless of any time off taken. If a seller ends below the company's minimum criteria the employee faces possible termination.

    Other than that, my only other issue is that incentives are paid quarterly and often times a bad month means no payout at all for that quarter.

    Advice to Management

    Consider adjusting goals for employees based on the number of days worked. For instance, if an employee takes a week off in a given month, then reduce the goals by 1/4 so the employee can take the time off without stressing about not making goals.

    Another thing I would suggest is changing the incentives payouts to a monthly base, instead of quarterly. It's more rewarding to the employee getting an extre payout every month than having to wait three months. And the employees could bounce back much easier after a bad month.