Bank of America Reviews in Santa Monica, CA | Glassdoor

Bank of America Santa Monica Reviews

Updated September 14, 2017
4 reviews

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Santa Monica, CA

3.9
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
2 Ratings

4 Employee Reviews

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Pros
Cons
More Pros and Cons

  1. "Registered Financial Advisor - BAML PMD Trainee"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor Trainee in Santa Monica, CA
    Former Employee - Financial Advisor Trainee in Santa Monica, CA
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    -Evolving Program: Optional new team structure for on-boarding financial advisor trainees
    -Good Employee Benefits: Good health insurance options and employee discounts
    -Great Training Program: Structured virtual and classroom trainings that prepare you for both licensing exams as well as sales trainings

    Cons

    -High Account Minimums: Difficult for new account openings for financial advisors
    -Extra Non-Paid Work: Potential to be forced to work longer hours than the industry regulated max
    -Long Path to Success and Prosperity: If you are in the sole practitioner program it's difficult to graduate and make decent money

    Advice to Management

    BAML should require all new financial advisor trainees entering the PMD program to be on a team rather than allowing them to be a sole practioner. If a trainee has never been in the wealth management business, a team structure provides a better opportunity to succeed and stay in the business to either grow with their team or go out on their own after a few years.


  2. "So much stress for nothing"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Student in Santa Monica, CA
    Former Employee - Student in Santa Monica, CA
    Doesn't Recommend
    Negative Outlook

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

    Pros

    good benefits compared to other retail jobs

    Cons

    bank of america compared to other banks that I know (and worked for) is the most stressful bank to work after WellsFargo. you have to tolerate huge amount of stress for everything you do not to get penalized, and it eats you from inside.

    Advice to Management

    have ongoing auditing so that not to kill employees with that stress everyday!

  3. "Huge opportunity but frustrating middle managers."

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

    I have been working at Bank of America full-time (More than 3 years)

    Pros

    More business and opportunity than one can handle.

    Cons

    Employee benefits are out dated.

    Advice to Management

    Make a better work experience for your employees. Take some clues from the tech giants like google and facebook.


  4. "Extensive on-the-job experience in a fast paced market-based atmopshere"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Intern in Santa Monica, CA
    Former Employee - Intern in Santa Monica, CA
    Recommends
    No opinion of CEO

    Pros

    Flexible working hours with no work on the weekends. Office facility is very clean and get a free lunch everyday

    Cons

    Mandatory dress code for all external positions (suit and tie). Must be available during market hours. Large company with structured processes

    Advice to Management

    Allow for more skill-building programs and certification programs. Help the entry-level position hires better opportunities to rise through the company instead of hiring outside talent


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