Bank of America Reviews | Glassdoor

Bank of America Reviews

Updated July 24, 2017
1,336 reviews

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  1. "Laid Off and immediately replaced"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior IT Consultant in Chandler, AZ
    Former Employee - Senior IT Consultant in Chandler, AZ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Benefits are some of the best in the market. If you are in a niche position you will have innovative freedom and ability to complete tasks unhindered.

    Cons

    'Cultures' are pushed on everyone with emphasis on innovation and communication. None of which are promoted, nor accepted outside of these training sessions. If you have a new innovative way to do a process you will be shot down from multiple higher levels before it even gets anywhere. Reasoning is that if you developed a better way to do something you will take work away from those that spend lots of time doing a task a mundane, slow, and banal way. Stagnation in your role, with no way to move up, is essentially the life in BofA. Ambition is punished.

    Many people were laid off recently May and June 2017. The year began with substantial gains and the CEO stated that the firm is growing with no risk of lay offs on the horizon. SVP stated the same, especially to production IT environments. This is smoke in your face since over 900 production IT employees were laid off a few months later. My position, as well as two others on my team, was laid off due to a reason of 'staffing reduction'. Not even two weeks later and personnel from another declining team were shifted into these roles, filling the same exact positions and responsibilities. The new personnel have zero experience in the position, need to be severely trained and supervised, and are actually paid more than the prior team members. Does that sound fair or even smart to you?

    Due to HR incompetence, IT positions that were initially hired in a non-IT campus, such as Chandler, AZ, leave a person with zero ability at chances of being re-hired if they're laid off. HR managers do not and will not contact a manager that has an available IT position at several national sites to determine if Chandler is an option. HR looks at the spec sheet, Chandler is not listed there, and the answer is "no, it's not available in Chandler or Phoenix." We all know that a telecommute position, or a national position, can be done in Chandler or Phoenix - why screw over former workers by allowing your HR people to be so lazy and not in any way assist former employees? BofA states caring, culture, compassion, and understanding, but it is all B.S., especially when you're laid off and HR won't even check to see if a position can be done at another corporate site.

    Lastly, consider 1% raises to be the norm if you're in the upper specrum of pay for your position. Even if you work more, have more responsibility, the lower staff in your team will receive 3%, 5%, or higher per year while a person with much more experience and responsibility is shunned.

    Advice to Management

    1. BofA, are you interested in saving money? Laying off people won't do it because the workload with remain the same, and eventually you'll be up to the same spending limit as before due to overtime by associates to perform the functions. The processes and procedures in place need to be reviewed and revised; only then will things become streamlined and time spent on tasks will be reduced.
    Forget about asking teams for suggestions; the teams want the work to remain 'dumb' so they could bill you as much and as long as possible to justify their existence.

    2. Shake up HR with these IT jobs that have national listings at several sites. Why isn't Phoenix or Chandler on the list? Why won't HR be proactive and even talk to the position manager about this? You laid of hundreds in Phoenix and they have no chance of rehire because HR is incompetent.

    3. Don't push culture and work ethic down our throats if even HR, the body that should mostly represent this, won't follow any of it.


  2. "VP Sr Systems Enineer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President Senior Systems Engineer in Knoxville, TN
    Former Employee - Vice President Senior Systems Engineer in Knoxville, TN
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    Independent work environment for all

    Cons

    No longer allows remote employment

    Advice to Management

    Allow workers to continue to work remotely

  3. "Not Recommending taking any position at the bank with any thoughts of longevity."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Jacksonville, FL
    Former Employee - Anonymous Employee in Jacksonville, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Benefits such has medical and dental are excellent.

    Cons

    Management is not informed and decisions are made at the the higher level not at the front line level because of concern with job status.

    Advice to Management

    If you are not sponsored you will be stuck in your position for a long time. This is a shrinking organization with thoughts on how to offshore your position sometime in the future.


  4. "Work with small businesses with up to 5 million in annual sales"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Flexible schedule, Big Bank, Great benefits. That is pretty much it aside from a nice team environment at times, although that depends on who you are aligned with.

    Cons

    Micro managed to an extreme. Focus is on tick marks and sales performance managers don't come up with realistic strategies for success. BOA is a notoriously tight lender, yet credit is a big part of your incentive. Managers can be, quite frankly, very unprofessional.

    Advice to Management

    As a field specialist with a focus on credit, I should not have to divert from targeted industries to hit a Merchant goal. BAMS also has a terrible reputation and the reps are trained to drive up the price and sign clients to costly leases with HUGE cancellation penalties. We can drive revenue just fine if we were asked to focus on lending and deposits, rather than having to chase after people for credit cards, merchant, payroll, etc. The analytics is embarrassingly bad as well.


  5. "Stop the genocide"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales Representative in Wichita, KS
    Current Employee - Sales Representative in Wichita, KS
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Bank of America full-time

    Pros

    just the medical benefits of the company

    Cons

    Unrealistic targets, overly ruthless attitude of the OMMs and MSMs, discrimination, favoritism, mistreatment of branch employees by the OMMs and MSMs and much more.

    Advice to Management

    Dear Mr, Brian Moynihan,

    I dont think you have the time to see the genocide being caused your ruthless prison guards (OMMs and MSMs). You along with the board of directors and the top 1% share holders enjoy your 10 figures salaries along with millions of dollars in incentive packages while we the branch banking employees live on nickels and pennies and struggle to survive every moment. We the branch banking employees contribute the most to the annual overall profitability and get treated like slaves by the OMMs and MSMs. The situation is very much like the pre- French Revolution era. While you make $12,000 per hour we count our pennies. The gap is becoming bigger by the minute. Your OMMs and MSMs are out control. Not a day goes by when they dont make us feel how insecure our jobs our. I know you will never compromise on your salary but you can at least stop the genocide of the OMMs and MSMs. They discriminate, they are intellectually stupid, insensitive and emotionally crippled. Please get out of your money making comma and help us. Wells Fargo was just unlucky that they got caught. BOA is a giant of a culprit in front of Wells Fargo and your just luck that you got away with it. Where is your compassion Brian? Remember that we have families too. We provide for them with our meager resources. The last thing we need is the genocide and the pushy and threatening attitudes of the OMMs and MSMs.
    Please have it stopped right away or else some day it will wreck this palace (slaughter house) of your's.


  6. "analytics reporting"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Work well with the team.

    Cons

    The company has high turnover.

    Advice to Management

    Stop being shady to your customers and start treating your employees better


  7. "Small Business Card"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Bank of America full-time

    Pros

    I enjoyed working there for ten years and the employees are great

    Cons

    Having to leave for the wrong reasons

    Advice to Management

    Value the good employees.

  8. "Horrible"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Teller in Lodi, CA
    Current Employee - Teller in Lodi, CA
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    This is an easy way to get your foot in the door if you don't have any banking experience.

    Cons

    Overly competitive, they make you push products that people don't need.

    Advice to Management

    Value your employees, especially the ones that have been loyal to you.


  9. "SSA"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend

    I worked at Bank of America full-time

    Pros

    Good benefits. Decent pay. Good resources to complete job.

    Cons

    Internal culture. Lazy management. Does not care to promote you.


  10. "Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

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

    Pros

    Great teams and people, lots of opportunities to move to different departments in the organization.

    Cons

    The company doesn't have any loyalty to their employees, pay is low, expectations are high. It is often expected that you will work 50+ hour weeks with no recognition or extra pay incentives.

    Advice to Management

    Be aware of the extra unpaid hours employees working, train the trainers, provide more learning tools specific to tasks.


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