Bank of America Vice President Reviews | Glassdoor

Bank of America Vice President Reviews

Updated October 20, 2018
1,158 reviews

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Vice President

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

Employee Reviews

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Pros
Cons
  • "Work/Life balance can be overwhelming" (in 506 reviews)

  • "Lack of communication in upper management" (in 441 reviews)

More Pros and Cons

  1. "Great company to work for!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President in Atlanta, GA
    Current Employee - Assistant Vice President in Atlanta, GA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Fantastic benefits and great leadership and atmosphere to work in! Great work life balance!

    Cons

    Large corporation, don't always agree on some of the organizations we support.

    Advice to Management

    Keep up the great work!


  2. "Company has gone through transitions"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President in Los Angeles, CA
    Current Employee - Assistant Vice President in Los Angeles, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Opportunity to do a lot and learn a lot

    Cons

    Management doesn't understand the needs of the employees. They just want everyone to tow the line. A bit tone-deaf.

    Advice to Management

    Learn some compassion and empathy for your employees. Please be honest. Live the values you try to evangelize. Otherwise, it just appears to be lip-service.

  3. "Depends on teams"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President
    Current Employee - Vice President
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Really smart and dedicated people who tried to turnaround fast with high quality work.

    Cons

    The recent expense management has cut down a lot of resource to do the real work. Money just spent on migrating from one technology platform to another without real benefits. Senior management also requires some manager role changes which do not fit every team at all and created a lot of confusion thereafter.


  4. Helpful (191)

    "You'll need to manage your career there from day one"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President Technology Manager in New York, NY
    Current Employee - Vice President Technology Manager in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Stable, depending on manager you get a lot of support. Lots of benefits and resources at the corporate level. A friendly and collaborative environment that is less cut throat and better work life balance than the rest of the street.

    Cons

    Depends on manager, too much management, a lot of things need to get done but some managers are always looking for resources to manage but won't roll up their sleeves. You don't always have a well defined career plan if your manager needs you in your current position.

    Advice to Management

    HR and senior management need direct dialogues with employees, people are too dependent on personality, opinion and advice of their direct manager who will put their personal needs over the needs of the firm.


  5. Helpful (1)

    "It starts out great, then you realize"

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

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

    Pros

    Widely known company. Great benefits

    Cons

    If you're not in NY, London, NC, you will be forgotten

    Advice to Management

    Teach your managers!


  6. "A good place to work, if you are on the right team."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Vice President in Boston, MA
    Former Employee - Senior Vice President in Boston, MA
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    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.


  7. "Stagnant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President Consulting in Charlotte, NC
    Current Employee - Vice President Consulting in Charlotte, NC
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Good work life balance. Structured processes.

    Cons

    Hard to move internally. Old technology.

    Advice to Management

    Using contractors to run internal recruitment is a roadblock to managing a career at the bank.

  8. "Culture is changing, would have rated higher a few years ago"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Vice President, Marketing in Wilmington, DE
    Current Employee - Senior Vice President, Marketing in Wilmington, DE
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    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.


  9. "Culture is ever-changing"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President Operations Manager in Richardson, TX
    Current Employee - Assistant Vice President Operations Manager in Richardson, TX
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Excellent Benefits
    Very strong focus on ethics and compliance towards financial regulation
    CEO is VERY well respected and admired by employees

    Cons

    Every limited opportunities to advance within own line of business
    Very bad culture of "office politics"

    Advice to Management

    Quarterly employee engagement surveys instead of yearly.


  10. "Don't join any quartz team"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President in New York, NY
    Current Employee - Assistant Vice President in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    work life balance coz usually there's no work. All deliverables are hacks.

    Cons

    Hiring is the single biggest blunder the company does. Keeps hiring 50% absolute idiots which starts a plethora of problems from technical to cultural