Bank of America Reviews | Glassdoor

Bank of America Reviews

Updated May 27, 2017
15,401 reviews

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Full-time Part-time

3.4
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
6,266 Ratings

15,401 Employee Reviews

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Pros
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More Pros and Cons

  1. Helpful (19)

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

    Star Star Star Star Star
    • 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.


  2. "Great company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - FC Client Service Representative in Houston, TX
    Current Employee - FC Client Service Representative in Houston, TX
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great pay awesome benefits and discounts. Great managers, and they love there employees

    Cons

    1 or 2 tellers at locations


  3. Helpful (1)

    "Senior Teller"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Teller in San Francisco, CA
    Former Employee - Senior Teller in San Francisco, CA
    Recommends
    Positive Outlook
    Disapproves of CEO

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

    Pros

    - Good work environment
    - Plenty of room for growth on the consumer banking side if you work hard enough
    - Great job for college students

    Cons

    - Sometimes the focus was more on sales than on customer needs
    - Computer systems seem a little outdated

    Advice to Management

    - Focus more on customer satisfaction than trying to sell them financial services that they don't necessarily need.


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  5. Helpful (2)

    "Great job as long as you work with fair Managers"

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

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

    Pros

    Best Benefits - 4 months paid maternity leave, 401k match up to 5%, yearly bonus of 1% of your salary into your 401k, affordable health, dental and eye insurance and 3 weeks paid vacation/1 week paid personal days every year that you do not have to wait until accrued to use.
    Trainings - you will stay abreast of all regulatory and compliance procedures as training is given weekly virtually.
    Bonuses are between $2k-5k a quarter but the goals are extremely aggressive and are sometimes unobtainable.
    Employee safety is always a top priority when you work in the branch.

    Cons

    Technology is inefficient and makes your job 10 times as hard and simple tasks can take 10 times as long all while you are trying to meet aggressive goals and have in depth conversations about the customers life priorities; management is not very helpful with this and tell you that there is nothing they can do or that they will put in a work order and nothing ever happens. Financial Center Managers have too much autonomy and disrespect employees treating them like slaves instead of human beings.

    Advice to Management

    Hire leaders to be in management and not "bosses", the majority of FCM's do not want to help their employees grow in their career and are focused on the bottom line so much that they lack basic human qualities which causes retention and revenue to suffer severely. Having Senior Executives visit the financial centers more frequently would ultimately fix this issue as they would remember their roles and focus on what's important generating revenue while keeping employees happy enough to want to make the branch as profitable as possible.
    Fix the systems that are used by the bankers, every one of them is broken. Takes too many attempts to print documents such as credit card acknowledgements, printable handouts, account disclosures and signature cards. Also, CAM stops working on a daily basis and interact malfunctions happen frequently as well. It takes way to long to document life priorities in 3 different areas, discover, CMC and the main page of SSA (please find a way to integrate the notes where they appear in all 3 areas simultaneously). Also, the auto loan department is rude to internal employees when calling to get a status and it seems that auto loans are like winning the lottery, there is a very slim chance they will ever get approved for one reason or another.


  6. "Great place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Home Services Specialist II in Chandler, AZ
    Current Employee - Home Services Specialist II in Chandler, AZ
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Lots of opportunity for growth.
    Support from direct management onsite is superb.
    Ideal work location away from the city.
    Training upon hire is excellent.

    Cons

    Policies change drastically and constantly, causing many training items to become outdated quickly.
    Team lead can tend to micro manage when not necessary.
    Pay is less than other companies in similar roles.
    HR causes issues quite frequently with benefits and pay.

    Advice to Management

    Encourage the TL to trust the team members rather than constantly send out "reminders" and "prioritizing" notifications. Too many priorities is no priorities.


  7. "Relationship Manager"

    Star Star Star Star Star
    • 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.


  8. "Pleased with Bank overall!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President - Compensation Manager in Charlotte, NC
    Current Employee - Vice President - Compensation Manager in Charlotte, NC
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    The company's commitment to customers and diversity is woven into fabric of culture. Proud to work at Bank of America!

    Cons

    Biggest con is we are a large corporation and encounter challenges - I.e. large stakeholder populations must review work before execute. Understandable, but still challenging.


  9. "Vice President – Team Manager Systems / Software Quality Assurance (QA)"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    Current Employee - Quality Assurance Team Lead in Charlotte, NC
    Current Employee - Quality Assurance Team Lead in Charlotte, NC

    I have been working at Bank of America full-time (More than 8 years)

    Pros

    Great companies, lots of career opportunities

    Cons

    None that I can think right now


  10. "RELATIONSHIP MANAGER"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Officer; Relationship Manager in Brandon, FL
    Current Employee - Officer; Relationship Manager in Brandon, FL
    Recommends
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Great benefits, maternity and paternity leave 16 weeks paid, great health insurance options and tuition reimbursement. Employee networks for all kinds of people, lots of events and volunteer opportunities. Overall the company has great career opportunities but the competition is pretty high.

    Cons

    Financial centers are understaffed, very challenging environment with high expectations of customer experience.

    Advice to Management

    Stop cutting Full Time Employees, the financial centers are down for tellers and leaders, associates are getting burned out.


  11. "Bank of America is a gigantic company, providing plenty of opportunities to learn from different teams and colleagues."

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

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

    Pros

    Great learning opportunities, good benefits, free baseball tickets, plenty room for young people to improve, many people stay for more than 20 years with the firm.

    Cons

    Like any big company, full of political issues, does not focus individual growth. Too rigid about procedures and processes. Too many layers.


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