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Bank of America Vice President Senior Financial Analyst Reviews

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Vice President Senior Financial Analyst

3.6
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Bank of America President & CEO Brian T. Moynihan
Brian T. Moynihan
5 Ratings

Employee Reviews

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Pros
Cons
  • "Bonuses Training Work life balance" (in 492 reviews)

  • "Communication with upper management can be difficult" (in 435 reviews)

More Pros and Cons

  1. "Senior Financial Analyst - Assistant Vice President"

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

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

    Pros

    Great benefits (4 months paternity/maternity, 5% 401k matching...), competitive environment where you're surrounded with some of the brightest people you will ever meet.

    Cons

    Due to interest rates not shifting the bank is at a constant cost-cutting mentality. Horrible talent return.


  2. "Assistant Vice President - Senior Financial Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President - Senior Financial Analyst in New York, NY
    Current Employee - Assistant Vice President - Senior Financial Analyst in New York, NY
    Recommends
    Neutral Outlook

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

    Pros

    Good people.
    You can make what you want of your career.
    Lots of mobility opportunities.

    Cons

    Cost cutting is has left an environment where it seems there is never enough resources for the amount of work asked of the employee.

  3. Helpful (1)

    "The two sides of BofA"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President - Senior Financial Analyst in New York, NY
    Current Employee - Assistant Vice President - Senior Financial Analyst in New York, NY
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Great benefits and most managers open to semi-flexible work schedule. Employees are encouraged to explore new opportunities within the bank after certain amount of time in one particular role.

    Cons

    Highly bureaucratic; lots of red tape. Although movement is encouraged within the bank, it is difficult to crossover between different lines of business.

    Advice to Management

    Management needs to specifically define what it takes to be promoted. Employees feel more empowered when they have a roadmap of quantifiable goals. There needs to be a more direct correlation between achievement in a role, and reward for success.


  4. "Great People and Learning Experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Vice President - Senior Financial Analyst
    Former Employee - Assistant Vice President - Senior Financial Analyst
    Recommends
    Approves of CEO

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

    Pros

    I worked at Bank of America within Finance, and I found myself consistently surrounded by intelligent, personable, and engaging people. Everyone is willing to help one another learn and succeed. GREAT benefits and focus on community

    Cons

    During certain times of year, it is not easy to move around within the bank. This will be an issue at most employers, though.

    Advice to Management

    Keep up the good work by focusing on employee satisfaction!


  5. "Senior Quantitative Financial Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President/Senior Quantitative Financial Analyst in Scotch Plains, NJ
    Current Employee - Vice President/Senior Quantitative Financial Analyst in Scotch Plains, NJ
    Recommends
    Neutral Outlook

    I have been working at Bank of America (Less than a year)

    Pros

    I am new to the company and area, more opportunities to learn.

    Cons

    less co-operations among groups; more and more projects and tighter deadline, stressful. IT and other supports are bad.


  6. "VP, Sr. Financial Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President, Senior Financial Analyst in Princeton, NJ
    Former Employee - Vice President, Senior Financial Analyst in Princeton, NJ
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Great work-life balance, flexibility, internal mobility

    Cons

    Compensation for long term employees is not competitive.


  7. "Frustrated - better opportunities elsewhere"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Vice President - Senior Financial Analyst in Charlotte, NC
    Former Employee - Assistant Vice President - Senior Financial Analyst in Charlotte, NC
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    401(k) match was nice and is more generous than I've found at my new Firm. This, along with decent health insurance, were two of the better facets of working at the Bank.

    Cons

    The working environment was awful in both groups I worked in while at Bank of America. The environment was such that there was so much expected of you - working long hours and not having tools to do the work efficiently - and, although recognized as exceeding expectations at my level, felt that there was no significant upside in sight after doing the work. Little room for growth and jumped at a great opportunity with a company that recognizes hard work.

    Advice to Management

    Token efforts around employee engagement activities ring hollow when the overarching, daily tone demands that you spend your time operating inefficient processes that are poorly coordinated across the different management functions. After spending a couple years in the Finance and Risk functions - it's easy to find opportunities elsewhere that allow for a better working environment.

  8. "AVP/Senior Financial Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Vice President - Senior Financial Analyst in New York, NY
    Former Employee - Assistant Vice President - Senior Financial Analyst in New York, NY
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Solid benefits - 4 weeks vacations as an entry level employee (that may have changed). 3 months for both maternity and paternity leave. Ability to work from home. Work-life balance was easy to maintain. Most people worked about 9 or 10 hours a day in NYC.

    Many opportunities to move within the company.

    Cons

    Compensation is low compared to other firms in the industry. Bonuses we also low during the time that I was there (also a function of the economic environment).

    The experience depends a lot on the manager. There are plenty of manager that haven't received sufficient training. The culture outside of Charlotte is weak. There is a culture clash between the various hub as a result of so many mergers.

    Very hard to get things done in a timely manner. There are so many intermediary steps and approvals needed to complete anything.

    Advice to Management

    Focus on developing talent. Make sure compensation is on par with competitors.


  9. "Do the right thing but do more with less...and less. At least on the mortgage side in fulfillment."

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

    I have been working at Bank of America full-time (More than 8 years)

    Pros

    Company values volunteering and believes in meritocracy. Benefits (health, dental, 401K) used to be better but are decent but I assume all big companies are cutting in this area. I had the ability to make a difference with my reporting group and to be on some challenging projects.

    Cons

    Initially when I joined, it was Countrywide and then later merged with Bank of America. Prior to the merger the environment was very liquid, changes could be made quickly for dissemination of reporting. Solid management.for the most part excluding a few bad apples. Meritocracy at its finest, you were rewarded for your hard work and achievements. After the merger, lots of growing pains but that is expected. However post merger, departments became more silo-ed, communication issues arose and company processes became very bureaucratic and slow. Lots of management changes occurring multiple times a year. Not to mention the now expected layoffs occurring every November, right before the holidays (It is almost becoming a tradition at BAC).

    I had the same manger for my first 7 years. He was smart, saw the changes and decide to transfer to another group so he could retire on his own terms and not due to layoffs. After that, I had a different manager each year for my last 2 years. This change of management lead to micro-managing and leaders that do not fully understand the history of departments/reports/people that make it happen. This led to the halting of support for areas outside of fulfillment such as sales and compliance.

    When new management takes over, they like to replace others with their own people.

    Advice to Management

    Too many SVP's without direct reports. When you layoff, you should start at the top and not have to layoff middle management to get an SVP some direct reports.
    Many times management is afraid to fire an associate based on color for fear of lawsuit. All this does is reiterate the lack of backbone by management.