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Bank of America Securities Reviews

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Bank of America Securities President Brian T. Moynihan
Brian T. Moynihan
4 Ratings

23 Employee Reviews

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  1. "Financial Solutions Advisor at the Portland-OR financial center"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior FSA - Chase Private Client in Portland, OR
    Former Employee - Senior FSA - Chase Private Client in Portland, OR
    Doesn't Recommend
    Negative Outlook

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

    Pros

    Salaried position with a sizable bonus at the end of each quarter, private office available in most cases, pretty decent pay, a hybrid of banking and investment products sales job - pretty rewarding

    Cons

    Questionable sales and products practices, pretty much all customers are lured into the same managed money strategies, no one cares about their individual preferences - bank makes tons of money doing that, but it might not be the best solution for most of their clients. Unethical job...

    Advice to Management

    Leave more room for FSA to determine independently, what fits their customers, what doesn't. I felt OK in the beginning of my tenure there - yr. 2014, but later on the management changes lead into much bigger issues, experienced quite a bit of discrimination based on my national origin as well as religion, now decided to go ahead and sue the institution due to that bank's improper internal policies. Will never advise anyone to consider working for Bank of America.


  2. "Relatively good company to work for"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Analyst in New York, NY
    Current Employee - Financial Analyst in New York, NY
    No opinion of CEO

    Pros

    Friendly environment, pays well versus other investment banks, relatively stable company, large universal model, just built a new tower in Manhattan with nice perks, good benefits

    Cons

    Second tier bank, management lacks a clear vision on where the bank is headed, there is prejudice against non-white male Americans and hardly any diversity outside corporate finance, too much politics in day to day business, lack of firm culture

    Advice to Management

    Implement better retention policies, design continuing education/training, have fairer compensation policies, improve business model

  3. "Merrill Lynch seems to be running the merger and may be the ruin of BofA if you don't watch out."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Research Department Professional in New York, NY
    Current Employee - Research Department Professional in New York, NY
    No opinion of CEO

    Pros

    Smaller operation within a huge corporation. BofA gave the Global Corporate & Investment Bank shelter.

    Cons

    The bureaucracy of a huge corporation when it came to benefits, etc.

    Advice to Management

    Stop being so enamored with growth. You overdid on the Countrywide and especially the Merrill Lynch acquisitions.


  4. "VP Investment Banking"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President in San Francisco, CA
    Former Employee - Vice President in San Francisco, CA
    Recommends
    Disapproves of CEO

    Pros

    - relatively stable investment bank with true universal bank platform
    - no "cut throat" competition among bankers
    - great place to learn and get exposure
    - some senior bankers are great to work for and very supportive and it is easy to identify them

    Cons

    - poor management and lack of information sharing
    - limited deal flow, difficult for large clients to look past the traditional commercial banking platform...although the ML acquisition may change that perspective
    - disproportionate time spent on elephant hunting (marketing/pitching to big clients for big deals)

    Advice to Management

    - share information, involve bankers with decision making
    - leverage junior and mid level bankers to do more than create pitch books
    - pay at least street comp


  5. "Your Mileage May Vary"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Tech Analyst in New York, NY
    Former Employee - Tech Analyst in New York, NY
    No opinion of CEO

    Pros

    Some great and talented people work here
    Salary is good

    Cons

    Offices other than the BOAT [Bank of America Tower] are pretty mediocre

    Everything depends on your immediate and one level up manager, if they aren't appreciate of their workers, don't expect any recognition.....at all

    Advice to Management

    Stop bringing in outsiders to run the company, grow talent from within, seriously, you have some really gifted people in mediocre mid management roles, seek them out!


  6. "Worked at BofA during the financial turmoil of 2008, as an analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Analyst in New York, NY
    Former Employee - Analyst in New York, NY
    No opinion of CEO

    Pros

    - comparable to other financial institutions in analyst pay and benefits

    Cons

    - hired way too many analysts than were jobs available
    - did not communicate warnings, or information about analyst career oppportunities and where the company was headed (and did not quell negative rumors either)
    - managers were confused and could not lead teams effectively under duress from above issue

    Advice to Management

    - communicate better with MDs


  7. "Slow deal flow, lots of hours, but excellent learning curve."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Analyst in Houston, TX
    Former Employee - Analyst in Houston, TX
    No opinion of CEO

    Pros

    BofA had an excellent investment banking analyst training course. The learning curve of an investment banking analyst cannot be beat, although this is true of almost any investment bank. Benefits and bonus seemed fair, given I was toward the top. Although deal flow was slow, the deals I did work on were also extremely educational.

    Cons

    Hours, hours, hours wasted on pitches that were never technically scheduled! Also many hours spent in the office simply because that was what was expected, but did not seem necessary.

    Advice to Management

    I do not mind working hard, but I like to see some results from the effort. I also felt there were definitely times when managers required the analyst to be at the office simply for the sake of being in the office.

  8. "Secretive, closed-door management style"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Vice President in Dallas, TX
    Former Employee - Assistant Vice President in Dallas, TX
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    *Salary and benefit package was generous,better than most other local employers.
    *Plenty of growth opportunity should be available in this large company, though relocation would be required.
    *Convenient location, easy access to major highways.

    Cons

    *Secretive, closed-door management style, apparently from the top down
    *Management team was aloof, usually behind closed doors and rarely acknowledged your presence when they walked through the office.

    Advice to Management

    Share more with your employees


  9. "Investment Banking Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Banking Associate in New York, NY
    Former Employee - Investment Banking Associate in New York, NY
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Strong dealflow, learning in a fast paced environment, time sensitive deliverables and large number of responsibilities

    Cons

    Company culture not structured, unprofessional time management by seniors and large time lags between supervision and checking of material.

    Advice to Management

    Foster an organic culture at the bank opposed to developing pockets of differing cultures all over the bank


  10. "Good company, lots of pressure"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY

    Pros

    They offer good pay, and opportunities to advance - the new building in Manhattan has a great location near Bryant Park

    Cons

    The company can be a bit schitzo, with constant turn-over and restructuring. The merger with Merrill just made things more complex

    Advice to Management

    Pick a path forward and stick to it. The employees are just getting confused and can't do their job as effectively


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