Bank of America - Company that cares | Glassdoor
There are newer employer reviews for Bank of America
There are newer employer reviews for Bank of America

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"Company that cares"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Banking Center Manager
Current Employee - Banking Center Manager
Recommends
Positive Outlook
Approves of CEO

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

Pros

Great Pay
Great Benefits
Cares about employees
Customer Driven
Strong Corporate Portfolio
Doesn't take size for granted - (doesn't believe in being too big to fail)

Cons

Bank of America doesn't approach the view and opinion that people have of them. It would be helpful for them to approach and defend themselves.

Advice to Management

Continue to care for your employees! They will treat your customers even better the more they feel appreciated!

Other Employee Reviews for Bank of America

  1. Helpful (5)

    "Very bad experience"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor - PMD
    Current Employee - Financial Advisor - PMD
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Not many that I can think of

    Cons

    Cons – Unless you come from a wealthy family or have an existing large net work of wealthy prospects you will fail the program. You will be expected to cold call all day in an age where cold calling is passé . The program is designed for failure, very few PMDs graduate. Production goals increase dramatically after about a year and quarterly thereafter and are nearly impossible to meet. The company hopes that any clients you bring in with assets will be retained and divvied out to veteran advisors after you are fired for not meeting production goals. Micro management to the extreme is the norm. Been in the program for over two years and only one PMD has graduated. Seen many come and go. After graduation if you have clients with less than $250,000 assets you will not get paid on their accounts. You can be fired at any time with little or no notice. You may have to sign a form stating that if you are with cause or quite before two years are up after receiving your production number you will have to repay training costs which are considerable. Stress levels are extreme. No work life balance. You are expected to work long hours with no overtime pay or additional compensation.

    Advice to Management

    Fix your program


  2. "The company culture is really antiquated even as the older generation begin to retire"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Research Analyst
    Current Employee - Research Analyst
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    The people you meet are like family and networking can be really amazing if you make yourself available as an employee. This can open doors to job opportunities, special projects, and a better understanding of the corporate structure.

    Cons

    The politics make innovation sluggish and the top heavy structure mean low pay & combined job functions. This strategy may be a common occurrence in today's economy but it becomes even more apparent as loyalty, to quality employees, continues to diminish. Training/certification opportunities (notwithstanding tuition reimbursement) are seldom presented to upcoming enthusiastic associates even when they are top performing. Although there seems to be ample job opportunities available, advancement is very slow unless you are well-liked, and adequate work/life balance can be difficult to maintain for single parents. With the amount of work required, the pay is far below industry standard...so don't expect much negotiation in this area, even with advanced degrees. Experience and certifications are probably more valuable in certain positions, since recruiters have goals and are looking for very specific skills when hiring.

    Advice to Management

    Mentorship is a wonderful way to "pay it forward." Management should learn to be advocates for their employees and find ways to empower them. A lot can be said about the structure of some of the top companies to work for... they are both successful and comprised of employees that strive for personal successes as well. It's mutually beneficial to encourage growth, value ideas, and reward innovation from within.

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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