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Bank of America Retail Reviews

10 reviews

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Retail

3.4
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
3 Ratings

Employee Reviews

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Pros
Cons
  • "Work/Life balance can be overwhelming" (in 515 reviews)

  • "Lack of communication in upper management" (in 448 reviews)

More Pros and Cons

  1. "Financial Center Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President, Consumer/Commercial Retail & Treasury Bank Operations in Atlanta, GA
    Former Employee - Vice President, Consumer/Commercial Retail & Treasury Bank Operations in Atlanta, GA

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

    Pros

    Significant opportunity for career advancement. Great employee benefits like child care reimbursement and corporate severance to attract top talent.

    Cons

    Salaries tend to be on the low end of market value


  2. "Taking care of their employees"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Retail Loan Officer
    Former Employee - Senior Retail Loan Officer
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    As a BOFA employee, you will receive great benifits like HSA, 401k matching and platinum status. I noticed other companies will offer discounts, status has to be earned. At BOFA, you earned your status by being a valued employee.

    Cons

    If you are at or close to top pay when transferring positions, you may not get a pay increase at the time of hire. You will have to wait for a cost of living pay increase at year end.

    Advice to Management

    In a sales roll, with weighted goals, allow your employees to take a vacation and come back without worries about making up your numbers for the time you were off. Taking a one week vacation, should warrant an out of production pass. Currently in some sales departments, they will not take you out of production until you are gone for two weeks or more.

  3. "process improvement"

    StarStarStarStarStar
    • Career Opportunities
    • Comp & Benefits
    Current Employee - Retail Banking in Phoenix, AZ
    Current Employee - Retail Banking in Phoenix, AZ

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

    Pros

    great technology for clients not so much for employees

    Cons

    technology for associates is not integrated - so much redundancy that employs waste time copying information from one system to another which contributes to errors and wasted time and man hours.

    Advice to Management

    take a look at the internal processes and reporting, see where an investment there could reduce your overall cost of doing business, improve clients delight and employee moral. it's literally a win, win, win.


  4. Helpful (1)

    "Bilingual Retail Banker Specialist I"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Bilingual Retail Banker Specialist I in San Antonio, TX
    Former Employee - Bilingual Retail Banker Specialist I in San Antonio, TX
    Doesn't Recommend
    Negative Outlook

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

    Pros

    Good pay, great benefits

    Cons

    Non equal pay for Bilingual reps in comparison to only English speaking reps. Terrible management.

    Advice to Management

    Very separate manner of managing between teams, management focused on negative aspects of the team instead of inspiring in the positive things, feedback and motivation. Managers are never available to take care of rep issues specially if it's not there team members. There's no team players in management. They almost never want to take supervisor calls and if possible for them they ask for a team lead to take it for them. Managers don't have the knowledge of how systems work or what to do they have to ask reps to help them when the do take supervisor calls. Many people taking calls there have more knowledge of how the company works, systems, policies, etc than the supervisors that should be taken in consideration for that position than hiring an external support without the experience.


  5. "AVP/Retail Sales Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Vice President/Retail Sales Manager in Sacramento, CA
    Former Employee - Assistant Vice President/Retail Sales Manager in Sacramento, CA

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

    Pros

    benefits, starting salary, guarantee package

    Cons

    lack of good management. lack of skilled management


  6. "Change Change Change!"

    StarStarStarStarStar
    Former Employee - Retail Fraud Servicing Team Manager in Acworth, GA
    Former Employee - Retail Fraud Servicing Team Manager in Acworth, GA

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

    Pros

    This is a great company to learn new skills and learn how to adapt to change. The benefits are absolutely amazing!

    Cons

    There is so much change as the bank reacts to all issues. They should take more of a proactive approach vs. reacting on the back end, which creates quick change and an unstable environment for the employees.


  7. "Challenging for success in mortgage"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Retail Sales Manager
    Current Employee - Retail Sales Manager
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Leads leads leads from multiple sources

    Cons

    Product limitations and overlays on guidelines

  8. "Fantastic company to work for, with invested leaders, good benefits, and work flexibility."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Retail Banking
    Former Employee - Retail Banking
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Talented leaders, strong partnerships, collaborative work environment.

    Cons

    Frequent reorganizations, continuing job cuts.

    Advice to Management

    Continue the investment in loyal associates, frequent reorganizations lead to disengaged associates, poor work product due to continually changing leaders and priorities.


  9. "Retail sales manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    Former Employee - Retail Sales Manager
    Former Employee - Retail Sales Manager

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

    Pros

    There is not one good reason

    Cons

    Treatment of veterans and no compassion for our service members closing their home loans on time or anyone else.

    Advice to Management

    Stop having the culture that "if you don't like how it is done here, then leave."


  10. Helpful (2)

    "If you are a self-starter, Bank of America is perfect for you!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Retail Banking MBA Intern in Providence, RI
    Former Employee - Retail Banking MBA Intern in Providence, RI
    Recommends
    Approves of CEO

    Pros

    Vast number of opportunities for professional growth; management is very supportive in helping you achieve your career goals; corporate culture is concentrated on teamwork rather than a top-down management approach; work-life balance is encouraged;

    Cons

    Such a large organization that communication between departments gets lost; hard to distinguish yourself among such strong peers; salary is competitive but still on the lower side;