Bank of America Reviews in Rolling Meadows, IL | Glassdoor

Bank of America Rolling Meadows Reviews

12 reviews

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Rolling Meadows, IL

3.5
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
2 Ratings

12 Employee Reviews

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  1. "Company is great! You can move up as fast as you want if you work for it!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Specialist in Rolling Meadows, IL
    Current Employee - Investment Specialist in Rolling Meadows, IL
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Small company feel, with big company benefits. It is perfect because of the business that is brought in by Bank of America

    Cons

    Can get rough shifts, but it is only temporary, shift bids happen every few months and you typically move to more convenient hours


  2. Helpful (14)

    "Premium Elite Relationship Manager - Low point in my life"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Premium Elite Relationship Manager in Rolling Meadows, IL
    Current Employee - Premium Elite Relationship Manager in Rolling Meadows, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Compensation is pretty fair and free food around tax season.

    Cons

    Being a call center rep at a low-tier online broker is horrible. If you're not trying to solve some paperwork issue, you might be getting screamed at because the company you work for sucks. Here is my list of questions that any prospective rep needs to ask at their interview.
    Q:"How many of my conversations will be with clients that have transferable assets?"
    A "Very few, most of your time will be spent with some of our day traders calculating buying power by hand, or with clients that have other assets at Merrill Lynch or already have everything here. So your time won't be spent on improving your bonus."
    Q: "What happens if one of my assigned clients closes their account?"
    A: " We take $$$ from your bonus. We don't care if you have never spoken to the person...it's your fault."
    Q: "Do people enjoy working here?"
    A: "Everyone hates it here, everyone is underemployed, everyone is embarrassed by what they do. Our first team in Rolling Meadows had 3 people quit in their first 9 months.
    Q: "What is the vacation policy?"
    A: " We do give you a fair amount of days off. Pretty much no chance you'll ever get a Friday (you have to use you sick days) and no way you'll ever get a day before a bank holiday."
    Q "How is management?"
    A: " When of our leaders comes to the office, everyone is required to wear suits. The managers don't speak to anyone on the team and just hide in their offices."
    Q: " How are our calls monitored?"
    A: " There is a dedicated team that will do everything possible to fail you. These low scores directly impact your bonus."
    Q: "What skills will I learn?"
    A: "Everything you'll learn is only specific to Merrill Edge. So your experience here won't help you at all. And on top of that, you'll have to explain why you took a service role at a call center."
    Q: "I was told that top reps have quarterly bonuses of 30K and higher. Is this true?"
    A "Lol!"

    Please don't waste any moments of your life in this role. Every day here is bad. You will learn nothing. The environment is toxic. Management will lie to get you in the door. There are far far batter ways to spend your life....don't do it.

    Advice to Management

    Skilled call center reps don't make good managers....Pay up and hire some decent people.

  3. "Good company."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Lead Operations Representative in Rolling Meadows, IL
    Former Employee - Lead Operations Representative in Rolling Meadows, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Just to have a fool time job with good benefits. Nice people. Good management. Very good training classes. A lot of engagements. Would work for this company again. Not good pay.

    Cons

    Knowing of loosing job. Working very hard for low pay. A lot of lay offs. A lot of people with know job now.

    Advice to Management

    Care more about people.


  4. Helpful (4)

    "Best of luck"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Premium Elite in Rolling Meadows, IL
    Current Employee - Premium Elite in Rolling Meadows, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Bank of America (Less than a year)

    Pros

    Good salary and incentive, clean facility, room for growth

    Cons

    Unqualified and under-prepared management, little focus on employee development, poor communication, all focus on customers, none on employees

    Advice to Management

    Start over


  5. Helpful (4)

    "My Experience So Far at Merrill Edge"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Solutions Advisor in Rolling Meadows, IL
    Current Employee - Financial Solutions Advisor in Rolling Meadows, IL
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    -A lot of ambitious co-workers everyone wants to be promoted and outperform each other, it makes work exciting

    -Depending on your location (Rolling Meadows) there is a huge potential for fast advancement, I have seen people promoted several times in a matter of a few years

    Cons

    -This is all too common for most companies, Managers do not give you direct answers and it gets annoying. It gets very annoying actually. To get a straight answer from anyone you will need to talk to someone who has been on the floor taking calls for a year or so.
    -Going back to the first point, if you aren't yet licensed don't ask any inquisitive questions about anything to any managers because they literally wont tell you anything they will just give you a generic response.
    -The office is not nice at all compared to what I have seen from pictures of the offices in Chandler, Arizona and Jacksonville, Florida. Its an old ugly building, perhaps when Edge is established in Rolling Meadows for a couple more years they will purchase the entire building and renovate it.

    Advice to Management

    Pick up the pace of the entire training process it shouldn't take 5 months before you get on the phones its so excessive.


  6. Helpful (1)

    "Performance is key"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Rolling Meadows, IL
    Current Employee - Anonymous Employee in Rolling Meadows, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of America full-time

    Pros

    - Excellent benefits
    - Growth is booming
    - PAY FOR PERFORMANCE!
    - Direct leadership that truly cares about your success.

    Cons

    - Systems are ancient and frustrating
    - Any change is the pace of a snail
    - Rolling Meadows location isn't ideal. With Chicago weather adjusting the buildings temp day to day is awful. One day you're freezing and the next you are sweating. Elevators are terrible too.
    - The deli on the bottom floor is quite possibly one of the worst places I've eaten at. Everything is microwaved......

    Advice to Management

    - Get the money to build a platform the works. Bandaids on bullet wounds only work for so long. For Edge to stay competitive the massive amount of system outages will have to stop!


  7. Helpful (19)

    "Below Average - Investment Specialist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Specialist in Rolling Meadows, IL
    Current Employee - Investment Specialist in Rolling Meadows, IL
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    They pay you to study and take your Series 7 and 66 exams.
    Benefits are really good. Great health care and 401k.
    Coworkers are pretty awesome and made coming to work every day bearable.

    Cons

    CALL CENTER JOB!
    They don't mention this almost at all during the hiring process. No transparency. They also don't tell you that when you start working after you pass your exams, you get stuck working the worst shift.
    Taking 40-50 calls a day is emotionally draining. I've been taking calls for almost a year and I cant do it anymore. You deal with so much bull on a daily basis it's unbelievable. The job itself really sucks.
    The managers also clearly play favorites. If you aren't "volunteering" or kissing up, you won't move up. If you come in, do your job consistently and well, but you're quiet, you'll be completely unnoticed.
    The systems are horrible and outdated. The lack of ownership and communication between departments is astounding.
    Pay is mediocre and bonuses are hard to get. If you aren't available taking calls 80% of the time, you won't get a bonus. Bonuses are based mainly on "soft sales" and calls that are graded by a third party. But really you have to sound like a robot and be incredibly nosy and ask where people have their money and if they want to bring it over to Merrill Edge. Some managers are super cool and made work fun. Others have ZERO people skills and get angry when you ask them questions.

    Get your certifications, get your experience, and GET OUT! Any longer than a year at this place will takes ages off your life.

    Advice to Management

    Be more TRANSPARENT with what the job entails and the hours that newbies have to work.
    Don't get mad when we ask questions.
    Update systems and consolidate them.
    Don't play favorites.

  8. "Fantastic place to grow career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Rolling Meadows, IL
    Current Employee - Anonymous Employee in Rolling Meadows, IL
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    The culture is a true meritocracy, performance is rewarded with unlimited income potential and career opportunities. Client experience is paramount and teamwork is excellent. Having worked at Edge for almost seven years I can say that some of the negative reviews on GD come from people who have selfish, negative attitudes and would rather complain than try to make things better. Or the posters were bottom performers: not good with clients (poor sales people, poor advisors or consultants) and not good teammates. Quarterly bonuses of $25,000+ are achievable for quality financial professionals who deliver for clients. People saying it's not possible just aren't doing their job right. If you work hard, stay positive and care about your clients, Edge is a place where you can easily make excellent variable compensation and get into management. Plus no cold calling, no book-building and a healthy base salary with best-in-class benefits and top tier job training. Seriously, Merrill Edge has tuition reimbursement, pays for designations (CFP) child care reimbursement and other incredible employee benefits. I love my company and my job and find most people do too.

    Cons

    Merrill Edge is a start-up company in many ways, launching in 2010. With Merrill Lynch and Bank of America as 200 year old parents, Merrill Edge has resources to grow but still feels growing pains. Metrics reporting, CRM, and systems have room to improve. Finding the perfect spot causes targets to adjust and that can be very frustrating. It is understandable that things aren't always perfect. The Home Office environment is a call center, which isn't sexy either. But a call center can also be lots of fun from a team perspective. And having started my career at a competitor working face to face for 100% commission, working at Edge in a call center for a healthy base salary plus very good bonuses, I was happy to make the trade.

    Advice to Management

    You are doing a great job, Merrill Edge. Keep listening and simplifying! Improve CRM and compensation reporting.


  9. "Disappointing the company elected to downsize. Losing a lot of talented and valued employees."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Underwriting Manager in Rolling Meadows, IL
    Current Employee - Underwriting Manager in Rolling Meadows, IL
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Great benefits and a great staff to work with.

    Cons

    Disappointed to see BofA elected to downsize.


  10. Helpful (3)

    "Fantastic company to work for!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Solutions Advisor Core I in Rolling Meadows, IL
    Current Employee - Financial Solutions Advisor Core I in Rolling Meadows, IL
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Fun work environment, ability to help clients with their retirement planning, great managers/team members, good opportunity for advancement at new site, good pay

    Cons

    Fast paced, lots of multitasking. Talking to clients all day long can be a bit tiresome at the end of the day.

    Advice to Management

    Keep doing what you're doing!


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