Bank of America Reviews | Glassdoor

Bank of America Reviews

Updated April 25, 2017
1,273 reviews

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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
604 Ratings

1,273 Employee Reviews

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Pros
Cons
  • Work/life balance can trend exceedingly work-heavy (in 413 reviews)

  • Communication from upper management to floor not consistent" (in 365 reviews)

More Pros and Cons

  1. "Good and Bad"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President in Los Angeles, CA
    Former Employee - Vice President in Los Angeles, CA
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    They do give you the opportunity to learn a lot and there are benefits for various things such as purchasing electric cars. It depends on your manager but if you get good management they do help you balance personal life with work life.

    Cons

    Loyalty to employees is low. They create an environment that doesn't push people to promote each other up but rather tear each other down to get ahead. Review system only allows a certain amount of people on each team to get considered "Top" and "Average" and "Below". An example of how this works is: If you have a team of five people and all of them are amazing top performing employees... only two of them can get that on their review. Annual increases to pay are less than the cost of living increases.

    Advice to Management

    I would grow in such a way that it makes it so employees have security - foster an environment that is based on loyalty and security and not fear. Update the employee incentive a bit. The pay increase barely covers the cost of living increases. The only way to get larger increases is to job jump within the company.


  2. Helpful (1)

    "FSA - Financial Solutions Advisor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Solutions Advisor in Los Angeles, CA
    Former Employee - Financial Solutions Advisor in Los Angeles, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Peers and colleagues that I met

    Cons

    The environment. Middle management just pushes down what C level management says. Never listened to those of us in the field, just tried to give us excuses and "coaching" on what to do. They need to wake up and realize the market for banking, especially investments has changed. If you think what happened at Wells Fargo is an isolated incident, you're kidding yourself. Same thing with Credit Cards has happened at BofA.


  3. "Company has no Appreciation for Talent and Huge turnover Rate"

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

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

    Pros

    Co-workers are nice and products that are offered are competitive with the market

    Cons

    - No incentive to keep tenured professional
    - Mangement is constantly changing policies
    - High turn over rate in all branches/ poor staffing
    - Low pay compared to the cost of the living in the Bay Area

    Advice to Management

    Take care of your current employees and create and environment where employees want to stay and climb the ladder.


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  5. "Don't care about employees"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Senior Management
    Former Employee - Client Specialist in Las Vegas, NV
    Former Employee - Client Specialist in Las Vegas, NV
    Doesn't Recommend
    Disapproves of CEO

    Pros

    It used to be a great place to work but now the only thing that is good are the benefits.

    Cons

    High turn over rate, continually add more responsibility to the job without adjusting pay, constantly micromanaged and given contradictory information on policy & procedure.
    Over the past few years it has changed from a fun and energetic place to work, to a place where employees are excited for the people who get fired. The general consensus is that they are trying to get rid of all the long term employees by either firing them or making the working conditions so unbearable that they quit so they can hire new employees at a lower rate. They also don't allow employees to discuss their pay because they don't want people to know they pay women less than men. I had a medical emergency at work and had to be taken to the hospital via ambulance. My manager was more concerned about the fact that I didn't have remaining sick time than the fact that I could have died.

    Advice to Management

    Figure out policy and procedure and stick to it rather than letting each manager make up their own. Start treating your employees like people again. When you stand behind your employees and treat them right, they take care of your customers. You tell your employees not to treat the customers like numbers and then you treat your employees like garbage.


  6. "customer servuce"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Customer Service Representative in Richardson, TX
    Former Contractor - Customer Service Representative in Richardson, TX
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    there is Nothing good about this place

    Cons

    there is Everything wrong with this place


  7. "Business Manager"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Business Manager in Wilmington, DE
    Former Employee - Business Manager in Wilmington, DE
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Good benefits and work location.

    Cons

    Corporate down sizing due to increased automation.

    Advice to Management

    Retain experienced, loyal employees to maximize excellent Customer Service.


  8. Helpful (3)

    "Worst job I've ever had."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Preferred Sales Specialist in Lincoln, RI
    Current Employee - Preferred Sales Specialist in Lincoln, RI
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Compensation, benefits, time off, option to buy a week of vaca if your manager likes you, and that's it for pros

    Cons

    Management is god awful. My supervisor in particular is an abomination. The job is to get incoming calls of people wanting to do regular maintenance on their accounts, and you have to bs them with "probing questions" so then that way you can shove a product down their throat. Management will listen to calls and if you don't attempt a sale on every call, they will do everything in their power to get you fired. Doesn't matter if the person in 104 and can barely talk, you better sell them. Doesn't matter if they are beyond irate, you better throw something out there. Quality also listens to 2 calls per month. Numerous amounts of ways to fail a call, and again you get put on warnings then fired. When you get put on a warning kiss 33% of your bonus goodbye. Don't be a minute late, because they will write you up if you do this more than 5 times. A minute! Also you are literally chained to your phone. My supervisor told me to use the bathroom while I'm on my break. She stated we actually aren't even supposed to get as much time for breaks as we do but the bank is ever so gracious enough to give us more than one break during an 8 hour shift, but it's not the law. Everyone there hates the place expect for the newbies because they have no idea what they have gotten themselves into. I'm writing this much because this is how passionate I am about the hate that I have for this department. Stay away from preferred sales, you will regret it, and you will think of this review when you realize I was right about everything above. It's too bad because the bank is a good company but this department is terrible and they won't let you out once you're in. Tried to post out after 18 months as required and got put on a warning that my boss made up so that way I couldn't leave. You've been warned.

    Advice to Management

    Stop threatening employees that they will lose their job everyday as motivation to get them to sell.


  9. "worst experience"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Service Associate in Saratoga, CA
    Current Employee - Customer Service Associate in Saratoga, CA
    Doesn't Recommend

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

    Pros

    easy promotion if you know who to "make connection" with

    Cons

    Extra works, lack of staffs so you always have to do everything regardless of your work title, your position or your experience.


  10. "Teller/Terminated for clerical error"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Teller Specialist in Point Pleasant Beach, NJ
    Former Employee - Teller Specialist in Point Pleasant Beach, NJ
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

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

    Pros

    There is room for advancement, they encourage it because they are trying to do away with the lower positions, (tellers) The place is ususally clean. They stick to the rules for lunchtimes usually.

    Cons

    Because they want to do away with the tellers, they are pressured so much for sales goals it can almost cause nervous breakdowns for them and their managers. They only care about the bottom dollar, do not want customers on face to face transactions that can be handled online and try to make it more and more inconvienent for customers to bank in person by cutting staff increasing wait time and forcing tellers to process quicker causing errors to put them on warning.

    Advice to Management

    Upper mgnt. needs to give a crap about the banking centers lining their pockets. Brian Moynihan doesn't need a $50K bonus with his 6 figure salary while the 40hr tellers make less than $30K. It's ridiculous, absurd and disheartening.


  11. "Not such a great Environment to work as a Teller"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Bank Teller in Seattle, WA
    Former Employee - Bank Teller in Seattle, WA

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

    Pros

    Great Manager, Very Helpful, good benefits

    Cons

    Very inconsiderate, Trying to blame the tellers for someone Else's Fault. Dont own upto their errors


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