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Senior Vice President"Employee Friendly work life balance" (in 1253 reviews)
"Great benefits great work place" (in 2212 reviews)
"No work-life balance when you work 6 days a week" (in 523 reviews)
"Don't get a lot of support from upper management" (in 458 reviews)
I worked at Bank of America (More than 8 years)
Pros
*Progressive Management
*Employee Flexibility
*Commitment to Diverse Workforce
*Continuing Education Support
*Supportive Environment
*Globally Focused Corporate Culture
Cons
*Bonus and pay may be under market for middle management
I worked at Bank of America full-time (More than 10 years)
Pros
Great benefits and opportunities to grow through your career
Cons
Often the higher ups end in roles that they are unable to function effectively. Difficult for improvements to be made in those circumstances.
I worked at Bank of America full-time (More than 5 years)
Pros
Flexible schedules
Caring good people to work with
Recognizes good work with opportunity to move up
Title promotions
Cons
Everyone constantly on - little work/life balance
Low bonus opportunities
Small raises barely keep up with inflation
I worked at Bank of America full-time (More than 8 years)
Pros
Benefits and work/life balance are great.
Cons
Bureaucracy x 100. Many corporate decisions will leave you scratching your head.
Advice to Management
Seek advice of your managers.
Helpful (1)
I worked at Bank of America full-time (More than 10 years)
Pros
Large platform, access to many offerings.
Cons
Senior management team seems to be always at odds with one another resulting in a distrusting culture of associates below. The lines of business are often disconnected and without a true singular enterprise objective. Band 3-1 managers are often good to task, but lack leadership skills- there is little development/growth opportunity for bands 4 and above who are often punished for seeking better opportunities.
Advice to Management
Stop the infighting at the senior leadership level and look for a leader(s) who can bring teans together for a common cause versues a “gotcha” competition style leadership.
Spend time developing emerging leaders and promote them to other lines of business, don’t punish them with poor work environments/rateings because they want to improve. Reward those who are innovative, do not stifle their progress by adding layers of opinions from lines of business/support staff who really have no stake in the work other than self precived importantance. Progress is often stifled by prolonged meeting cycles with middle managers who have no programmatic impact other than a self-perceived need to know. Empower decision makers, don’t handcuff them.
Helpful (1)
I have been working at Bank of America full-time (More than 8 years)
Pros
* Good benefits for Charlotte
* Decent WLB
Cons
* If you have more than 10 years of experience and like working with modern technology, this is not the place
I worked at Bank of America full-time (More than 10 years)
Pros
Global business model and lots of opportunity
Cons
bad bad corp politics
I worked at Bank of America full-time (More than 10 years)
Pros
Great benefits. BofA is committed to doing great work in their communities.
Cons
If you are in a line of business it can be good. If you are in a support function, you will be perpetually under-resourced and at least on the team, I was a part of we had limited credibility with management. Getting quality work done without interference was impossible. Lots of nepotism/favoritism.
Advice to Management
Make rules that make sense. Not arbitrary ones that mean losing good people.
I have been working at Bank of America full-time (More than 10 years)
Pros
Decent Benefits including PTO, sick days, healthcare and 401k contributions
OK work-life balance
Investment in Technology
Community Reinvestment
Increased dividend in 2018
Diversity and Inclusion commitment
Severance package if you are laid off
Nationwide presence, competitive across multiple products and LOBs
Some very good people and leaders, lots of legacy (MBNA) talent
Cons
Career Advancement
Moving in the wrong direction regarding remote work and flexibility
Lack of consistent policies and treatment across LOBs
Tendency to be behind competitive trends, especially in the credit card space
Layoffs, especially on the technology side of the business
Pay below the market rate, especially if you have been there several years
Stock buyback having minimal impact on share price YTD
Changing the culture to create attrition and avoid severance packages
Advice to Management
In a world where climate change is real, you report that you are committed to environmental sustainability yet how many cars have you put back onto the roads around Charlotte, Delaware, Boston, etc ., in the name of face time? When MyWork and VPN time was permitted and encouraged, the company was doing fine. During that time financials were impacted by the poor decision to purchase Countrywide ( I get it, different CEO). It is unfortunate you let a few bad apples spoil the bunch. Brian preaches responsible growth, well ask yourselves how responsible is it making people drive into an office everyday, sometimes as far as 30 miles one way? Take that into account for the company's carbon footprint. Also, why consolidate down to one building in Wilmington that has the smallest parking garage? We know it's coming so why not just get out of Wilmington entirely. Stop delaying the inevitable because a few Executives don't want to drive to Newark every day. This feedback should be no surprise to Management - I wrote the same thing in my Associate Survey. I doubt this will happen, but I'll try it anyway - voluntary severance packages PLEASE.
Helpful (1)
I worked at Bank of America full-time (More than 10 years)
Pros
Senior executive management is committed to equal opportunity, diversity, employee empowerment, serving customers, and innovation.
Cons
Middle management executives are too frantically short-term-focused, switching priorities on a whim, and disrupting the flow of work. The leadership team speaks the word "Agile" but has no concept of Agility and consequently runs their technology teams into the ground.
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