Bank of America Specialist Reviews | Glassdoor

Bank of America Specialist Reviews

Updated May 8, 2018
1,006 reviews

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Specialist

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

Employee Reviews

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Pros
Cons
  • Bonuses Training Work life balance (in 490 reviews)

  • Communication with upper management can be difficult (in 433 reviews)

More Pros and Cons

  1. Helpful (1)

    "Good experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Equity Specialist in Hopewell, NJ
    Former Employee - Equity Specialist in Hopewell, NJ
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great environment and supportive management. They helped me get the series 7 and 66.

    Cons

    None, really, very good over all.

    Advice to Management

    Keep finding ways to recognize employees for their great work!


  2. "Excellent company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Specialist
    Current Employee - Specialist
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Diversity, promotion based on merit rather than tenure, challenging jobs

    Cons

    None - it is a fantastic place to work and advance your career

  3. "Collections specialist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Collections Specialist in Brea, CA
    Current Employee - Collections Specialist in Brea, CA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Paid time off, paid sick time, 401k, plenty of overtime, fair pay.

    Cons

    Parking always full, not all managers are the best

    Advice to Management

    Look for the weak links in leadership to improve


  4. Helpful (1)

    "Decent Job for new college grad looking to start in the invesment world."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Specialist in Jacksonville, FL
    Former Employee - Investment Specialist in Jacksonville, FL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    * Adequate training resources for obtaining licenses (online quizzes, study guides but all self-motivated). Once you get your Series 7 + 63 or 66 however, all studying is done on your own time.

    * Will give you a crash course on Investment world and customer service if you lack the experience.

    * Training staff is very encouraging, supportive and knowledgeable.

    * Having market holidays off (but that's most financial jobs)

    * Paid while studying to obtain your Series 7

    * Will provide free food when call volumes are very high (they'll often ask you to work through lunch to help)

    * Cafeteria was great

    * Pays fairly well for no college degree required

    * Quarterly bonuses can be rewarding if you hit all metrics

    * Multiple campuses throughout US tend to offer opportunities from time-to-time for promotions on the higher teams if you are a great deepener and ok with relocating.

    Cons

    * It's a call-center. Need I say more?

    * HEAVILY micromanaged (breaks & lunch are assigned to you daily and differ, have to submit e-mail to team leads every day of every moment you weren't taking calls. Every second not spent on the phone with client or "available" to take a call is tallied, ultimately counts against you and could lose bonuses because of).

    * Approx 5 mins given after each call to enter notes, submit requests to other teams, print off documents, essentially to TAKE CARE OF ALL CLIENT BUSINESS - after 5 mins, team lead will call you out in front of team asking if you need more time, or if call volumes are high, tell you to do it after market hours.

    * Service roles are still very sales driven (will lose QA points if you don't mention services or products customer doesn't already have, no matter how irate client might be)

    * Work environment is loud and rather chaotic on the floor.

    * Promotions are only given to those with high 'Deepening' numbers, which means, convincing a client to talk about their Non-Merrill assets with another specialist. All other metrics (QA, Customer Satisfaction, Retention, etc...are an afterthought for promotions)

    * Once you're licensed, you essentially thrown into the role with very little help. Sink or swim type mentality.

    *Team leads often seem "too busy" or "annoyed" when you ask for help or have any questions. You're always referred to a very internal search engine or calling to other depts to find answers.

    * Constant coaching/monitoring of your calls, for those that appreciate freedom and flexibility in their work, this is NOT THE ENVIRONMENT FOR YOU.

    * 24 hr call center, so you may end up working weekends, overnight, etc. and all shifts are based on tenure.

    * Requesting for days off VERY DIFFICULT; they ask you to submit days off literally months before. (ex. Xmas holiday requests in May/June)

    Advice to Management

    * Way less micromanagement. Give more flexibility for time off phones, no one wants to be tethered to a phone for 8hrs a day.

    * Have better differentiation between sales and service roles - let sales do sales, and service be service.

    *Be less driven by deepening numbers and value other metrics more for promotions. Show that you truly care about client's needs.

    *Consider retention as a metric! (Ex. client with $5 million+ acct could call and ask to end relationship, you decide to take the initiative and are able to retain that relationship. You get nothing, there is no metric for retention. So why bother?)


  5. "Sr Business Control Specialist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Business Control Specialist in Charlotte, NC
    Current Employee - Senior Business Control Specialist in Charlotte, NC
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great benefits, opportunities to move around in the company. Opportunities for personal/professional development.

    Cons

    Hard to maintain a work life balance, employee burnout. Hard to exceed performance goals.

    Advice to Management

    Recognize the employees, set clear expectations surrounding performance reviews and how to excel within the company.


  6. "Overall Great Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations Specialist in Charlotte, NC
    Former Employee - Operations Specialist in Charlotte, NC
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Definitely a ton of opportunities within. Pay is pretty decent although sometimes you have to jump to another bank and come back to get what you are worth. The culture really depends on your team. Vacation is pretty decent and the health benefits are very good.

    Cons

    You feel pretty removed from upper management. It is apparent that they treat you like a number.

    Advice to Management

    Cross train employees more and help contribute to their growth to add value to your team and your company.


  7. Helpful (1)

    "Investment Specialist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Specialist in Lincoln, RI
    Former Employee - Investment Specialist in Lincoln, RI
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Great colleagues working hard to deliver first class service on complex Merrill Self Directed Account brokerage accounts.

    Cons

    No sales training - but you must make goals. Huge turnover = exhausted staff . Not enough staff servicing clients to train others.

    Advice to Management

    Bank executives are running call center without understanding the complexity of the accounts = unnecessary turnover, staff burnout and clients leaving.

  8. "Lead Teller"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Lead Teller Operations Specialist
    Former Employee - Lead Teller Operations Specialist

    I worked at Bank of America full-time (More than 3 years)

    Pros

    better pay than other banks

    Cons

    very bad management
    very unprofessional setting

    Advice to Management

    Start managing and be more professional


  9. "Challenging Yet Comfortable"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Business Control Specialist in Charlotte, NC
    Current Employee - Senior Business Control Specialist in Charlotte, NC
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    If you are willing to seek out a mentor and challenge your own comfort zone, there is opportunity to do meaningful and rewarding at this company. Comprehensive benefits package is solid. You can grow here, but nobody is going to gift you growth. Use peripheral vision to look for opportunities to outperform the mean.

    Cons

    On the other hand, if you want to float, and do just enough to get by, this company is big enough to do that too. Not a recommended long term strategy...eventually you will lose the game of musical chairs.

    Advice to Management

    I know churn is expensive, but the increase in CLV that comes along with customers being made to feel "covered" makes for a very short break even point.


  10. "Decent Entry Level Position With Quite A Bit Of Stress"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Digital Services Specialist in Utica, NY
    Current Employee - Digital Services Specialist in Utica, NY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    The environment is stellar and there are quite a few benefits.

    Cons

    The job itself can become grating and is highly stressful over an extended period of time.