Bank of America Reviews | Glassdoor

Bank of America Reviews

Updated April 22, 2017
15,119 reviews

Filter

Filter

Full-time Part-time

3.4
Star Star Star Star Star
Rating Trends Rating Trends
Recommend to a friend
Approve of CEO
Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
6,132 Ratings

15,119 Employee Reviews

Sort: Popular Rating Date

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. Helpful (2)

    "Bank of America: a sinking ship and taking its associates with it"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Internet Marketing in Wilmington, DE
    Current Employee - Internet Marketing in Wilmington, DE
    Doesn't Recommend
    Disapproves of CEO

    Pros

    i can't think of any.

    Cons

    job advancement and career development are the worst. they don't care about you. they care about getting the most amount of work out of you at the lowest possible cost to them.

    Advice to Management

    better compensation, job advancement and career development.


  2. "anyone looking for a job in investment banking should stay away from bank of america"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Banking Vice President in New York, NY
    Current Employee - Investment Banking Vice President in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    none - not an investment bank

    Cons

    all the downsides - conflict between senior management

    Advice to Management

    get a focus - either you want investment banking presence then run like an investment bank or sell this business


  3. Helpful (1)

    "Bank Of America the bank of OPPORTUNITIES!!!!!! for dissapoiment."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Personal Banker in Longwood, FL
    Current Employee - Personal Banker in Longwood, FL
    Doesn't Recommend
    No opinion of CEO

    Pros

    The Benefits maybe are a good reason, this is before any changes that they are planning for this year.

    Cons

    Goals are extremely high, unresonables and they play very well te game making look everything in benefit to the employer, when in reality they are just set in you up to failure. Base salary is poor compare to another companies and cash bonuses are part of the past due to the excesive goals and new incentive plan. Not even when they do banefits campains, they dont supply the materials or money, the employees have to donate money, material and do activities to collect funds in the name of the bank to the benefit of different charities and the bank get the tax brake for the donation and the recognitions!!!

    Advice to Management

    I will give them a advice if they will take in consideration, but they are just pieces of the chess in hands of the investors of the company. This is an agressive market and the employees understand this fact, but their techniques and what they expect from sales is extremely exagerated.They need to review the incentive plan, is discouraging.


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (1)

    "Employees are treated horrible and are not promoted from within! That is why I left after 4 years!"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Banking Center Manager Associate in Miami Beach, FL
    Former Employee - Banking Center Manager Associate in Miami Beach, FL
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Insurance is very good and afforable. You will meet very affluent individual and networking is good. You will earn respect among the community as a leader and people will recognize you everywhere as thier banker.

    Cons

    No recognition, salary is bad, you have to work the job that most places have 2 or even 3 people to do for them, no career advancement unless you are a buttkisser with upper-management, you will find it extremely difficult to get promoted within, the trend I saw was hiring from the competitors, you cannot speak your mind without concequences, upper-management has absolutely no idea about their customers or what actually goes in inside banking centers. They are stuck way up in the clouds. The high turnover that this bank has confirms everything I just said.

    Advice to Management

    Treat your employees good. It is hard to find loyal and hardworking employees.


  6. Helpful (1)

    "Who are these opportunities for?"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Personal Banker in Dallas, TX
    Former Employee - Personal Banker in Dallas, TX
    Doesn't Recommend
    Approves of CEO

    Pros

    The best reason to work at Bank of America is for the bank hours. Being off Sundays and most of Saturday makes it easy to make plans.

    Cons

    The company sets unreasonably high goals for some locations. They expect every customer needs multiple checking accounts even though alot of people can barely keep up with one account.

    Advice to Management

    I would tell senior management to lighten up on some of its sales goals. Otherwise they may end up losing out. They should focus more on retention rather than just new business.


  7. Helpful (2)

    "Work there for a short period of time and then leave ASAP."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Supply Chain Manager in Charlotte, NC
    Former Employee - Supply Chain Manager in Charlotte, NC
    Doesn't Recommend

    Pros

    Provides an opportunity to learn the banking industry and new banking products.

    Cons

    Highly policitical organization. In order to advance, you have to "be in" with the right people. Management is only interested in making themselves wealthier. They is no interest in advancing the front line workers. Management plays games with information and employees are always jockeying for position so as not to be laid-off in the next round of cuts (there seem to be layoffs EVERY year).
    Negotiate a high salary coming in because pay increases are stingy.

    Advice to Management

    Shake up management and incent middle management to play less political games and focus more on improving the company.


  8. Helpful (1)

    "The worst place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Service Representative in Colorado Springs, CO
    Current Employee - Customer Service Representative in Colorado Springs, CO
    Doesn't Recommend

    Pros

    It is just a job, equivalent to working at McDonald's.

    Cons

    The "politics" of working there is atrocious. If you do a good job you're told, you're not doing enough. The promised incentives don't come through. The management is useless, rude and nasty. People who know management are being promoted over those who deserve it.

    Advice to Management

    Recognize your employees and keep your promises.


  9. Helpful (2)

    "Avoid Banc of America at all costs"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President Equity Research Analyst in New York, NY
    Current Employee - Vice President Equity Research Analyst in New York, NY
    Doesn't Recommend

    Pros

    it's better than working at McDonald's or cleaning toilets. many folks worked 70-100 hour work weeks, and met all the goals of senior management only to be fired when it was time for BAS to pay bonuses. in fact, the bank fired its most talented and highest revenue producing analyst just two weeks before bonuses were due, and did not pay ANY bonuses. the bank also had the nerve to force non-compete clauses for those fired and in many cases are looking to hire analyst from other banks to replace those they pushed out only three months ago.

    Cons

    they are liars and cheats. dishonest at best. the bank has no idea what it is doing strategically--overpaying for lasalle, bankers trust and countrywide. i expect more and bigger write downs from the bank, giving the lose lending standards over the past few years (i.e., actively targeting illegal aliens for credit cards, car loans and home loans).

    Advice to Management

    pay up for talent and do what you have promised to employees/"associates." i hope you all can sleep at night, with your cheating, lying and kicking your friends out on the streets.


  10. "Avoid Bank of America"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales Vice President in Seattle, WA
    Former Employee - Sales Vice President in Seattle, WA
    Doesn't Recommend
    No opinion of CEO

    Pros

    The benefits are decent, and there was a lot of schedule flexibility. The pay is average, probably a bit lower than at other financial institutions.

    Cons

    Communication from senior management to the staff is terrible. The bank has created a culture of fear and discomfort. There is no support from management when it comes to assistance or compassion. I felt like just a number, and that they didn't care about me as a person or as someone who devoted my life to that company.

    Advice to Management

    I don't have much to say about Senior Management, but I would definitely NOT recommend taking a job with this company. If it were up to me, I would probably shuffle things around with Senior Management. They don't seem to have the experience or know-how when it comes to running a successful business with happy employees.


  11. Helpful (2)

    "Great if you are a office politician, otherwise avoid like the plague!"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Banking Vice President in Charlotte, NC
    Current Employee - Investment Banking Vice President in Charlotte, NC
    Doesn't Recommend
    Disapproves of CEO

    Pros

    The day you leave for good. Seriously, the only good thing to me about BofA is that with the current financial crisis, I see people finally getting what they deserve. I have witnessed far too many people get squeezed out at the bank over the years and only now I see people who deserved to be let go years ago being shown the door.

    Cons

    Like Rodney Dangerfield said, "No respect at all." Please note that I no longer work for the bank, I left on my own but know that I too would have been squeezed out over time. It is all about politics. My personal feeling, and that of many people I speak with who are still at the bank is that at least 20% of the staff could be let go and it would have no real effect on the day to day productivity of the bank. IF you like a corporation that promotes politicing over intelligence this is the place for you. Otherwise I would not work there.

    Advice to Management

    All the politics will end up biting you in the ass.



Showing 15,119 of 15,769 reviews
Reset Filters