Bank of America Reviews | Glassdoor

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Bank of America Reviews

Updated February 23, 2018
17,415 reviews

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3.6
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
7,212 Ratings

17,415 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. Helpful (1)

    "Vice president project manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President, Operations in New York, NY
    Current Employee - Vice President, Operations in New York, NY

    Pros

    Great culture and people. Company that is going places. Through strategic thinking with a customer focus day in and day out.

    Cons

    One two three four five six seven eight nine ten eleven twelve thirteen fourteen fifteen sixteen seventeen eighteen nineteen twenty.


  2. Helpful (173)

    "You'll need to manage your career there from day one"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President Technology Manager in New York, NY
    Current Employee - Vice President Technology Manager in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Stable, depending on manager you get a lot of support. Lots of benefits and resources at the corporate level. A friendly and collaborative environment that is less cut throat and better work life balance than the rest of the street.

    Cons

    Depends on manager, too much management, a lot of things need to get done but some managers are always looking for resources to manage but won't roll up their sleeves. You don't always have a well defined career plan if your manager needs you in your current position.

    Advice to Management

    HR and senior management need direct dialogues with employees, people are too dependent on personality, opinion and advice of their direct manager who will put their personal needs over the needs of the firm.

  3. Helpful (3)

    "Great company to work for"

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

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

    Pros

    Great overall benefits show a true care of employee, including but not limited to time off, maternity/paternity leave, decent health care, employee programs. Depending on the nature of your role, great flexibility. Company allows volunteering during work hours and is a true advocate for community involvement and Diversity and Inclusion

    Cons

    Pay for performance is not equally applied across different divisions. Yearly raises are determined by very high senior execs and HR who know very little about your or your team's work, leaving upper to mid level managers having very little say on outcomes, thus, making reviews a formality rather than a true tool to measure performance. Income inequality is rampant. If you happen to come in with a lower base salary, don't expect to get adjusted solely on performance since there are policies on raise caps or simply an iron curtain set by HR that prevent equalizing salaries. Moving unto other roles does very little to help pay due to the same salary cap policies to prevent divisions from competing for talent, especially at upper management levels where the moves may be lateral in title but not function.

    Advice to Management

    Allow divisions to compete for talent, make it easier to create exemptions for top performers, top talent to stay within company in current or move unto other roles by compensating appropriately rather than losing them to outside companies


  4. "Financial Center Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Center Manager in San Francisco, CA
    Current Employee - Financial Center Manager in San Francisco, CA
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    One of the pros is that they are leading the way in technology. They are constantly updating/upgrading their systems to make it more user friendly for both their employees and customers.

    Cons

    The downside is that everything is a fire drill. They are constantly changing their priorities. What may be important today, may not be important or even mentioned again next week.


  5. "Relationship Manager"

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

    I have been working at Bank of America full-time

    Pros

    Great benefits, opportunities, and well structured incentive plan for bonuses.

    Cons

    A bit political when it comes to promotions depending on your market.


  6. "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.


  7. "ok"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Relationship Banker in San Ramon, CA
    Current Employee - Relationship Banker in San Ramon, CA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    NIce place to work at

    Cons

    Not enough staffing and short staffed

    Advice to Management

    staffing

  8. "banker"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Bank of America full-time

    Pros

    easy job every dang day

    Cons

    low money need more bonus


  9. "Mortgage Banker"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Bank of America full-time

    Pros

    Excellent benefits and work life balance. Strong philanthropic focus and corporate culture. Advanced use of innovative technology to drive productivity and client satisfaction

    Cons

    Large organization that can take some time to navigate for new employees. Feedback to top of house is welcomed but can take time to implement change.

    Advice to Management

    Stay the course. Continue to show employees how they can advance their careers across various areas of the bank.


  10. "Underwriter"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Underwriter in Columbia, MD
    Former Employee - Mortgage Underwriter in Columbia, MD
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Everything was a pro, benefits, vacation

    Cons

    Being able to work remotely


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