Bank of America - Hands down the worst work environment in my career | Glassdoor
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There are newer employer reviews for Bank of America

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"Hands down the worst work environment in my career"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Senior Vice President
Former Employee - Senior Vice President
Doesn't Recommend
Negative Outlook
Disapproves of CEO

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

Pros

There used to be some good work colleagues there, but most left in 2009-10
Can't think of many others

Cons

Lying, backbiting, manipulative management
An environment of fear, loathing, and constant tension
Rampant HR violations, like age and sex discrimination
Unrealistic expectations
Contempt for customers
Idiotic training
Non-sense social responsibility
Huge ethical and integrity lapses
Terrible internal IT systems
Moronic marketing and executive management
The managers who remain are the dregs -- all the good rats jumped ship long ago

Advice to Management

Break it up, it is a classic case of the "Inefficiency of scale" -- turn it into 6-8 regional banks with a focus on excellence in customer service. Spin off ML and all the other non-banking units. Spin off the niche units like US Trust.

Other Employee Reviews for Bank of America

  1. "Heavily sales and customer service oriented but not enough care for employees"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales and Service Specialist in Boston, MA
    Former Employee - Sales and Service Specialist in Boston, MA
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Great insurance benefit package through Aetna, 401k, 3 weeks vacation for full-time employees with option to purchase time off. The company also offers great benefits such as tuition reimbursement and $3000(I think?) reimbursement for the purchase of a hybrid car. There are also a number of associate inclusion groups, giving employees many chances to network and be involved. The company also encourages volunteer work and will pay for 2 hours.

    Cons

    This company gets a bad reputation in the media so it's difficult to combat some of the misleading information that customers are hearing. The company itself is also too big so it's difficult to adequately handle customer issues. This results in a negative customer experience and a negative employee experience, as each banking center is expected to achieve a high professional treatment score based on customer surveys. Also, the sales and referral goals for tellers and personal bankers are too high and unrealistic and the managers micromanage their staff to achieve these numbers, creating a very stressful environment to work in. Another negative part is that tellers are expected to achieve these high numbers but are the only staff in the banking center not compensated by an incentive plan. This year, it has also become the "norm" for managers to schedule their staff to work six days a week.

    Advice to Management

    Reassess sales goals and how realistic they will be to achieve. In your latest change to the incentive plan, you are calling for tellers to achieve six referrals for every hundred customers. If that teller has two hundred customers that day, it is obviously busy in the center, so how are they expected to serve every customer in a timely fashion if they are being micromanaged to sell? Also, make sure markets are following through on associate recognition weeks, as the last several have been neglected.


  2. Helpful (2)

    "Benefits will keep you there!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Teller Operations Specialist in Tampa, FL
    Current Employee - Teller Operations Specialist in Tampa, FL
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Some of the best benefits I have ever had working for a company.

    Cons

    Very stressful environment in a banking center. There are so many matrices that you have to excel at with no real possibility to excel at them all. Conclusion, you are always doing something wrong!

    Advice to Management

    Little more tolerance


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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