Bank of America Reviews | Glassdoor

Bank of America Reviews

Updated August 15, 2017
15,982 reviews

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3.5
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
6,547 Ratings

15,982 Employee Reviews

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  1. Helpful (1)

    "Benefits Package"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Relationship Associate in Richmond, VA
    Current Employee - Relationship Associate in Richmond, VA
    Recommends
    No opinion of CEO

    Pros

    Benefits, my department gets two payouts, one for the bank nationwide if we meet our goal and one for our department, get 2k for tution reimbursment per year dosent have to be bank related courses

    Cons

    mostly phone jobs or teller jobs in VA, if u want anything real like office work, or administration you have to move to like NY or NC

    Advice to Management

    n/a


  2. Helpful (1)

    "Bank of American, the bank of opportunity"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Personal Banker in Flushing, NY
    Current Employee - Personal Banker in Flushing, NY
    Recommends
    Approves of CEO

    Pros

    Its the bank of opportunity and they actual recognize every associate for their good work. Every friday is our recognition day and everyone in the market will be on conference call to hear about the associates/banking centers being recognized and we cheer for them. At Bank of America, you actually feel that you are a part of a team. We work together and succeed together.

    Cons

    no downsides for me and my particular banking center. We are the #1 performing banking center in the market. It is also a convenient place for me to work. I dont see any reason why I shouldnt work for BOA.

    Advice to Management

    Maybe more attention to individual associates rather than just the manager when they come to visit the banking center.

  3. Helpful (1)

    "Bank of America has everything you could want in a company."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - ECommerce Product Marketing Consultant in Charlotte, NC
    Current Employee - ECommerce Product Marketing Consultant in Charlotte, NC
    Recommends
    Approves of CEO

    Pros

    Bank of America is a large and stable company for which to work which is especially important in these turbulent times. It has an excellent work/life balance which allows you to not only work when you want, but where you want. In being such a large company, there are virtually no limits to career choices and paths. If you can't find what you want to do here, it is probably illegal! Finally, it is a company you can be proud working at. We are leaders in socially and environmentally-friendly initiatives from our Leed Platinum building in New York City to our credit cards where the rewards points are put towards carbon credits.

    Cons

    It is a large company; as a result it is possible to feel "overwhelmed" or "lost" when you start working here. It takes a little bit longer than at a smaller company to feel that you know your way around.

    Advice to Management

    Take advantage of this downturn/recession in the economy to fix many of the issues we have in house. We have focused for the past 10+ years on growing through acquisitions. This has served us well by turning us into one of the most formidable banks in the world. However, we need to properly integrate these new entities, streamline our processes and standardize our systems. By taking a moment to regroup, we'll be able to move forward aggressively in the future.


  4. "I love working for Bank of America!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Mortgage Loan Officer in Santa Rosa, CA
    Current Employee - Senior Mortgage Loan Officer in Santa Rosa, CA
    Recommends
    Approves of CEO

    Pros

    Strong company. Great products. Great service to both clients and employees. Great benefits.

    Cons

    Can't think of any at this time.

    Advice to Management

    I would love to know more about their motivation and detailed reasoning for buying countrywide.


  5. "Bank of America - Bank of Opportunity"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Recruiting Coordinator in Charlotte, NC
    Current Employee - Recruiting Coordinator in Charlotte, NC
    Recommends
    Approves of CEO

    Pros

    Opportunity for career growth, professional and friendly environment; ability to learn about business and finance from thousands of different aspects. Ability to travel the world and work practically anywhere.

    Cons

    I can think of no downside unless one is just strongly opposed to working in a large corporate environment.

    Advice to Management

    Great job keeping everyone informed about what is going on.


  6. "huh?"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Assistance Account Manager in Newark, DE
    Current Employee - Customer Assistance Account Manager in Newark, DE
    Recommends
    Approves of CEO

    Pros

    It's Fortune 500 company so there's job security. There's also great chances for moving up in the company.

    Cons

    It is a Bank so you have to learn all the different technical things about the industry.

    Advice to Management

    Keep up with the recognition. When you say you'll do something...do it.


  7. "Bank of America is an employer that will give you room to grow."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Change Consultant in Phoenix, AZ
    Current Employee - Change Consultant in Phoenix, AZ
    Recommends
    Approves of CEO

    Pros

    The fact that Bank of America is such a large company means that there are plenty of opportunities for growth and advancement. Anyone who's willing to put in some good old fashioned hard work and dedication can reap the rewards.
    Associates who meet and exceed their expectations are rewarded both financially and in terms of peer recognition. Associates struggling to meet expectations can expect their immediate management teams to work with them to get them where they need to be.
    Bank of America takes associate feedback very seriously and diligently works to improve associate satisfaction.
    The culture in general is one the fosters excellence and continual improvement. If that's important to you, you'll enjoy working for Bank of America.

    Cons

    The fact that it is such a large company is a bit of a double edged sword in the sense that, given current tech communication tools, it is possible to work with people that you may not meet face to face for many months.
    There are some who think that Bank of America doesn't pay as well as other companies for similar job roles, however the benefits package is so extensive that when you consider your full compensation package, it is very good. However, if you're interested maximizing your take home pay at the expense of company benefits, then this may not be the place for you.

    Advice to Management

    Keep it up!

  8. "Happy Associates Make a Profitable Bank"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Personal Banker in San Ramon, CA
    Current Employee - Personal Banker in San Ramon, CA
    Approves of CEO

    Pros

    The teams that are assemled by management are good. They make sure that most importantly you will "fit it" with your team. They try hard to make it a pleasant environment to work.
    Despite what some people think we really do have a great product line to work from. There are numerous products for us to sell and Bank of America keeps rolling out new products so that we can keep our sales up.
    The bank also has a great system for you to keep track of yourself. They provide a way to view your paycheck ahead of time, easily manage your 401k and give great product bonuses to the associates.

    Cons

    We have too many different systems from state to state. It makes it difficult to help our clients.
    There is a lot of controversy in the "largest item clears first policy." Most of the time that makes no sense and causes a lot of overdraft fees.
    Senior management in my market has changed in 2008 completely. It went from being supportive and positive with constructive coaching to nothing but negativity. All we are told is how much we are falling behind, when in reality we are not.
    Another downside is that many times associates are not able to take time off due to a lack of staff. My vacation for the past few years has been deleted and I never got to take it. Now it is rolling over, but I am going to retire or leave with tons of vacation I never got to take. There should be a vacation payout for time not taken.

    Advice to Management

    -Make sure that your Market Managers have been trained how to manage in a positive manner
    -Rewarding people for not taking sick days would be great. For example a lot of companies give an annual bonus for employees that do not use sick time. That would definitley encourage a lot more associates to not take a sick day for a "mental health" day and loose money for the bank. We are paying these people not to be there, but we could give them a smaller portion of it and then they will actually be working for that time.
    -Allow markets to have quarterly events. It brings unity to teams and encourages Bank of America Spirit.
    -Week in review is pointless. No one reads it. Find a better method to provide whatever that is supposed to be doing. (I honestly can't say I know why we have that)
    -Allow banking centers to buy supplies. We need things like toner and paper so that we can make money.
    -Offer a free checking account for people other than students


  9. "I love my job at Bank of America."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Visual Designer in San Francisco, CA
    Current Employee - Visual Designer in San Francisco, CA
    Recommends
    Approves of CEO

    Pros

    Bank of America is solid in almost every way as a corporate employer. I'm very happy with the opportunities the make available in personal and professional advancement. My managers are very good at what they do, and in particular, have taken the time to assess my career goals and to align me with opportunities and education to create momentum in that direction. In addition to quality of work life, I enjoy the challenging work and fact that what I create is used by over 24 million users in the US and abroad. Joining the Bank of America team was a great decision and I would highly recommend it.

    Cons

    Because of the size inherent to Bank of America being one of the largest financial institutions out there, it takes some time to fully understand the ins and outs of the company. I've been with the company for over a year and just now feel as if I'm beginning to understand the overall lay of the land. In terms of salary, I am happy with it, though it is on the low end relative to some other jobs in the industry. They do, however, compensate for this relatively low salary by providing an incredible array of employee benefits including 4 paid weeks vacation.

    Advice to Management

    The feedback I'd give is that I'm impressed with the quality of the organization and those who work within it. I'd ask that they keep up the good work and continue to relentlessly focus on driving the best user experience in the world.


  10. Helpful (1)

    "Bank of America is the best place to be in the current marketplace!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Mortgage Loan Associate in Marietta, GA
    Current Employee - Mortgage Loan Associate in Marietta, GA
    Recommends
    Approves of CEO

    Pros

    Bank of America consistently treats their employees with decency, honesty, and fairness. There are a number of training courses (via telephone, personal, and online) that help to enhance my skill set and make me a better loan officer. In the last 5 years of working with the Bank, I have been more than pleased with time off and the major benefits. There is tuition reimbursement, child care assistance, paid time off, fidelity financial advice engines, great health, medical, and dental. I have no complaints!

    Cons

    Not one thing that I can think of. I love my job!

    Advice to Management

    My Senior Management is the best in their field.


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