Bank of America - Perceptions from a Long Term (26 years+) IT Employee Laid Off | Glassdoor
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There are newer employer reviews for Bank of America

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Helpful (1)

"Perceptions from a Long Term (26 years+) IT Employee Laid Off"

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  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Consulting Systems Eng-CA in Concord, CA
Former Employee - Consulting Systems Eng-CA in Concord, CA
Doesn't Recommend
Negative Outlook
Disapproves of CEO

I worked at Bank of America full-time (More than 10 years)

Pros

Benefits and pay were very good (health, retirement), although they having been heading downhill for the last couple years (pension contribution recently cut in half, health care cost keeps rising). Most IT employees can work from anywhere. Technology is fairly current and a lot of money is spent to provide the premier online and branch banking systems in the world. A lot of good technicians still there.

Cons

Due to recent market conditions, especially around issues related to purchases of Countrywide and Merrill Lynch, there is a massive belt tightening and downsizing currently underway. IT associates live in constant fear of being laid off, and many are being forced to work long hours to make up for depleted teams. Many roles (including most programmers) have been outsourced (tens of thousands of contractors and employees in India and other countries). Project manager roles are generally contracted out for the length of the projects (meaning often, PMs need to learn the Bank's processes and have limited knowledge of Bank environments).

Advice to Management

Look back at how the Bank (especially the original Bank of America) used to function around training, maintaining, empowering, and advancement. It used to true when upper management said that the Bank's most important asset was its people, and processes were in place to support that (by the way, is there still an annual employee opinion survey, with the required management followups to it?). It may be a hit on the bottom line (although you should still be able to show a profit), but investing in your people would make a big difference in your future.

Other Employee Reviews for Bank of America

  1. Helpful (2)

    "A lot of bureaucracy and overhead, but those that can cut through excel"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Tech Manager in Atlanta, GA
    Current Employee - Tech Manager in Atlanta, GA
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Fair compensation. Lots of bright people. Lots of flex-work/remote work opportunities.

    Cons

    Some not so brite people that should have been cut a long time ago. The Bureacucracy can become a bit much at times.


  2. "A lot of change within the company, but it was a great working experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Teller in Mercer Island, WA
    Former Employee - Teller in Mercer Island, WA
    Recommends
    No opinion of CEO

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

    Pros

    Great staff at banking center and the customers were frequently really friendly. It really depends on which branch you work at and what you do. Our branch was in an area with a lot of business professionals and doctors, as well as retired people, so pleasing them was hard but always really fulfilling.

    Cons

    too many changes too quickly, a huge amount of BS training and selling the banking solutions can become really difficult if you are not comfortable with forcing that upon people.

There are newer employer reviews for Bank of America
There are newer employer reviews for Bank of America

See Most Recent

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